Rockville, MD , Feb. 11, 2025 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global Polyalkylene Glycols Market is reached a valuation of US$ 2,738.4 million in 2024 and is expected to grow at a CAGR of 9.3% during the forecast period of 2024 to 2034.
Polyalkylene glycols (PAGs) are also known as polyalkylene oxide polymers or polyalkylene ether glycols to refer to these synthetic polymers with a wide range of uses in industries and by consumers. Repeated alkylene oxide units, which are usually propylene oxide, ethylene oxide, or a combination of the two, identify these compounds.
Increasing interest in polyalkylene glycols for various purposes like personal care and medicine are some of the reasons behind stable global market growth, this polymer has led to increased levels of demand for polyalkylene glycols across a range of industrial applications including but not limited to pharmaceuticals automotive construction materials personal care products among others. The potential for these substances to increase efficiency in production processes while being kinder to the environment, enhance product quality or function as adhesives is what drives forward this market.
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Key Takeaways from the Market Study:
- The global polyalkylene glycols market is projected to grow at 9.3% CAGR and reach US$ 6,691.3 million by 2034
- The market created an opportunity of US$ 1,028.9 million between 2019 to 2024
- East Asia is a prominent region that is estimated to hold a market share of 27.4% in 2034
- Predominating market players include Shell USA, Inc., and DOW Chemical Company
- Higher Polyethylene Glycols under the type is estimated to grow at a CAGR of 9.3% creating an absolute $ opportunity of US$ 1,179.4 million between 2024 and 2034
“Owing to its remarkable properties, polyalkylene glycols are increasingly being used in new industries such as cosmetics, pharmaceuticals, and food processing apart from traditional ones.“ says a Fact.MR analyst.
Leading Players Driving Innovation in the Polyalkylene Glycols Market
Key players in the polyalkylene glycols market are BASF SE, Dow Chemical Company, ExxonMobil, LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc, Clariant, Covestro AG, AkzoNobel NV, Huntsman, Croda International Corp., PAN Asia Chemical Corporation, Idemitsu Kosan, Ineos AG.
Market Development:
The growing need for polyalkylene glycols in different industries like lubricants, personal care products, pharmaceuticals is the major force behind the current state of the market. The ongoing research and development have resulted in the formulation of more advanced PAGs that suit intended uses. Developing upgraded PAG grades with better performance characteristics such as decreased friction, heat resistance, and interaction with diverse materials is an area of interest for many organizations involved in production.
The other reasons that may drive the future increase of the market are; more investment into aerospace and defense, an increase in vehicle manufacturing, shipping businesses, polyalkylene glycols with excellent water dissolvability as
well as their permission for application in the food-processing industry.
Polyalkylene Glycols Industry News:
- To better serve its clients in the domestic, industrial, personal care, and health sectors, Clariant expanded its Care Chemicals facility in Daya Bay, Huizhou, China, in December 2022. By the end of 2024, the investment will allow for the launch of new goods and the expansion of current ones.
- Dow announced in July 2021 a number of small, high-return capacity expansions in new silicones, propylene glycol, and speciality materials to meet the growing demand for green solutions in industries like consumer electronics, building & infrastructure, transportation, food, pharmaceuticals, flavour & fragrance, and home & personal care.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global polyalkylene glycols market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the Type (polyethylene glycols, polypropylene glycols, higher polyols-adducts, others), Solubility (Oil-soluble Polyalkylene Glycols, Mineral Oil-soluble Polyalkylene Glycols, Water-soluble Polyalkylene Glycols), Application (Polyurethane Foam, Functional Fluids, Lubricants, Personal Care, Pharmaceuticals, Surface Active Agents, and Others) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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