USD 4.8 billion
Polyethylene Glycol Market Size, Share, and Growth Analysis
Polyethylene Glycol Market By Grade (Pharmaceutical Grade, Industrial Grade), By Application (Pharmaceuticals, Cosmetics and Personal Care), By Molecular Weight (200-400 g/mol, 401-600 g/mol), By Source, By End Use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15B2079 |
Region:
Global |
Published Date: January, 2025
Pages:
157
|Tables:
74
|Figures:
67
Format -
Polyethylene Glycol Market Insights
Polyethylene Glycol Market size was valued at USD 4.8 billion in 2023 and is poised to grow from USD 5.1 billion in 2024 to USD 8.32 billion by 2032, growing at a CAGR of 6.3% during the forecast period (2025-2032).
Polyethylene, a versatile thermoplastic polymer, found extensive applications in packaging, consumer goods, construction, automotive, and agriculture sectors. The market was primarily driven by the burgeoning packaging industry, where polyethylene's lightweight, durability, and cost-effectiveness made it a preferred material for packaging solutions. Increasing urbanization and the rising middle-class population in emerging economies also contributed to the soaring demand for consumer goods and infrastructure, further propelling the polyethylene market. Additionally, advancements in manufacturing technologies and a focus on sustainable practices fostered the development of eco-friendly and bio-based polyethylene products, catering to the growing demand for environmentally responsible solutions. The polyethylene market is expected to maintain steady growth, primarily driven by ongoing industrialization and urbanization in developing nations, coupled with innovations in sustainable polyethylene production and recycling technologies. Market players are likely to focus on creating value-added products and forging strategic partnerships to secure a competitive edge in this dynamic industry.
US Polyethylene Glycol Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Medical & Pharmaceutical
Fastest Growth
Medical & Pharmaceutical
Growth Rate
6.3% CAGR
Global Polyethylene Glycol Market ($ Bn)
Country Share for North America Region (%)
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Polyethylene Glycol Market Segments Analysis
Global Polyethylene Glycol Market is segmented by Grade, Application, Molecular Weight, Source, End Use and region. Based on Grade, the market is segmented into Pharmaceutical Grade, Industrial Grade, Cosmetic Grade and Food Grade. Based on Application, the market is segmented into Pharmaceuticals, Cosmetics and Personal Care, Food and Beverages, Industrial Solvents and Textile Finishing. Based on Molecular Weight, the market is segmented into 200-400 g/mol, 401-600 g/mol, 601-1000 g/mol, 1001-2000 g/mol and Above 2000 g/mol. Based on Source, the market is segmented into Ethylene Oxide, Ethylene Dichloride and Ethylene Glycol. Based on End Use, the market is segmented into Medical Device, Pharmaceutical Packaging, Lubricant Additive and Paper Coating. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Polyethylene Glycol Market Analysis By Grade
The dominant segment is PEG 4000 which is considered one of the most widely used grades of polyethylene glycol. It falls within the mid-range of molecular weights and is commonly used in pharmaceuticals, cosmetics, and industrial applications. Its popularity can be attributed to its balance of properties, making it suitable for a diverse range of products and processes.
On the other hand, the fastest growing segment is the PEG 3350 which has been experiencing significant growth in recent years, especially in the pharmaceutical industry. This grade is commonly used as an osmotic laxative in the form of powder or solution to treat constipation. The increasing prevalence of gastrointestinal disorders and the demand for effective laxatives have contributed to the rapid growth of this segment.
Polyethylene Glycol Market Analysis By Application
The medical & pharmaceutical industry segment is the most dominant segment. In the medical & pharmaceutical industry, polyethylene is extensively used in manufacturing medical devices, packaging materials, and pharmaceutical containers due to its excellent biocompatibility, chemical resistance, and sterilization capabilities. The rising demand for healthcare products and advancements in medical technologies contribute to the dominance of this segment.
On the other hand, the building & construction segment is fastest growing owing to the increasing construction activities globally. Polyethylene finds applications in pipes, cables, insulation materials, and packaging for construction materials. Its lightweight, durable, and cost-effective properties make it a preferred choice in modern construction practices. Moreover, as the construction industry continues to expand, the demand for polyethylene in this segment is projected to rise further, making it the fastest-growing application area for the material.
Global Polyethylene Glycol Market By Application
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Polyethylene Glycol Market Regional Insights
The global polyethylene glycol market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America emerges as the dominant segment due to the presence of well-established industries, extensive research and development activities, and increasing demand for PEG in various applications like pharmaceuticals, personal care products, and industrial processes.
On the other hand, Asia Pacific is the fastest-growing segment in the PEG market. The region's rapid growth can be attributed to factors such as expanding population, rising disposable income, increasing urbanization, and growing awareness about the benefits of PEG in diverse industries. Furthermore, the Asia Pacific region has witnessed significant investments in the healthcare and cosmetics sectors, driving the demand for PEG-based products in the region. The continuous expansion of end-use industries and favorable government policies supporting industrial growth contribute to the region's remarkable growth in the polyethylene glycol market.
Global Polyethylene Glycol Market By Geography
- Largest
- Fastest
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Polyethylene Glycol Market Dynamics
Polyethylene Glycol Market Drivers
Increasing Demand from End-use Industries
- Polyethylene glycol is widely used in various industries such as pharmaceuticals, cosmetics, personal care, and industrial applications. Its versatility as a solvent, lubricant, and emulsifier makes it a crucial component in many formulations. The growing demand from these end-use industries was driving the expansion of the PEG market.
Advancements in Medical and Pharmaceutical Applications
- PEG plays a crucial role in pharmaceutical formulations, particularly in drug delivery systems and the production of various therapeutic agents. As medical research advanced and the pharmaceutical industry continued to innovate, the demand for PEG in these applications increased, bolstering the market's growth.
Polyethylene Glycol Market Restraints
Environmental and Regulatory Concerns
- Polyethylene glycol is a synthetic compound that may pose environmental challenges due to its non-biodegradable nature. As environmental regulations became more stringent, industries using PEG faced pressure to find eco-friendly alternatives. This could potentially restrain the growth of the PEG market.
Fluctuations in raw material prices
- PEG is derived from ethylene oxide, and its production costs are influenced by the price fluctuations of this raw material. Unpredictable shifts in ethylene oxide prices can impact the overall production cost of PEG, leading to fluctuations in market prices and potentially affecting the demand.
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Polyethylene Glycol Market Competitive Landscape
The Global Polyethylene Glycol market is characterized by intense competition among key players, driven by factors such as increasing demand from various industries, including pharmaceuticals, personal care, and industrial applications. Companies are vying for market share by focusing on product innovation, technological advancements, and strategic partnerships to expand their global presence. Cost-effectiveness and sustainable production practices also play crucial roles in gaining a competitive edge. The market's growth potential and diverse application areas have created a dynamic landscape, leading companies to continually invest in research and development to meet evolving customer needs and stay ahead in the competition.
Top Players in Polyethylene Glycol Market
- BASF SE (Germany)
- Dow Inc. (USA)
- Clariant (Switzerland)
- Lotte Chemical Corporation (South Korea)
- Sanyo Chemical Industries, Ltd. (Japan)
- SABIC (Saudi Arabia)
- Kao Corporation (Japan)
- Croda International Plc (UK)
- INEOS (UK)
- Evonik Industries AG (Germany)
- Merck KGaA (Germany)
- Indorama Ventures Public Company Limited (Thailand)
- NOF Corporation (Japan)
- India Glycols Limited (India)
- ExxonMobil Corporation (USA)
- Mitsui Chemicals, Inc. (Japan)
- Solvay S.A. (Belgium)
- Arkema S.A. (France)
- Huntsman Corporation (USA)
- PETRONAS Chemicals Group Berhad (Malaysia)
Polyethylene Glycol Market Recent Developments
- In March 2022 when Petro Rabigh entered into an agreement with Gulf Cryo. The purpose of this collaboration was to implement a project for capturing Carbon dioxide emissions from the Mono Ethylene Glycol (MEG) plant located within the Petro Rabigh complex. This initiative is fully aligned with Saudi Arabia's Circular Carbon Economic Concept and supports the ambitious goals set forth in the Saudi Vision 2030 program, which aims to significantly reduce carbon emissions in the Kingdom.
- In October 2022, the panel of the Ministry of Environment, Forests, and Climate Change granted approval for the expansion and debottlenecking project at Reliance Industries Ltd Hazira manufacturing complex. This significant undertaking is valued at INR 100 billion (USD 1.33 billion). The Hazira Manufacturing Division (HMD) complex, established by Mukesh Ambani's RIL in 1991-92, was originally designed for the production of MonoEthylene Glycol, Vinyl Chloride Monomer (VCM), and other products, along with utility services.
Polyethylene Glycol Key Market Trends
- Increasing Demand in Pharmaceutical and Personal Care Industries: Polyethylene glycol finds extensive use in the pharmaceutical and personal care industries. In pharmaceuticals, PEG is used as an excipient in various formulations, including oral, topical, and injectable products. It helps improve solubility, stability, and bioavailability of drugs. Additionally, PEG is used in laxatives, bowel preparation solutions, and as a binder in tablet formulations. In the personal care industry, PEG is used in cosmetics, skin creams, and lotions as a moisturizer and emollient. The growing demand for pharmaceutical and personal care products has been driving the increased consumption of PEG.
- Rising Application in Industrial Processes: Polyethylene glycol is utilized in numerous industrial applications due to its excellent properties like water solubility, lubrication, and low toxicity. It is used as a surfactant, dispersant, and humectant in various industrial processes, including textile manufacturing, paper production, and metalworking. The demand for PEG in industrial applications has been growing steadily as industries seek eco-friendly and versatile chemicals to improve their processes and product quality.
Polyethylene Glycol Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Polyethylene Glycol market analysis, the versatile applications across various industries are projected to serve as the key growth driver. With rising demand for PEG in pharmaceuticals, personal care, and industrial sectors, the market is expected to expand further. Its use as a solvent, binder, and stabilizer in pharmaceutical formulations, as well as in cosmetics and as a lubricant in industrial processes, is driving demand. Environmental concerns and regulatory changes regarding PEG's biodegradability may impact its long-term prospects. Overall, the PEG market is poised for continued growth, propelled by its diverse utility and evolving market dynamics.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.8 billion |
| Market size value in 2032 | USD 8.32 billion |
| Growth Rate | 6.3% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyethylene Glycol Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyethylene Glycol Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyethylene Glycol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyethylene Glycol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyethylene Glycol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyethylene Glycol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Polyethylene Glycol Market Report Snapshots
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