Asia Pacific industry, which accounted for more than 40% of Polyalkylene Glycol Market share in 2016, is slated to experience a remarkable surge over the years ahead. Rise in the number of construction projects along with escalating demand for personal care items & medicines will favorably leverage the business sphere. India and China are likely to drive the regional share.
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North America polyalkylene glycol market is slated to expand at a rate of over 11% during the period from 2017 to 2024, subject to high PU foam and lubricant sales witnessed in the countries such as the U.S. Large presence of major players across the pharmaceuticals sector in the U.S. will further boost the industry growth.
Polyalkylene glycol market has laid firm foundations across different topographies. For instance, Asia Pacific, which contributed nearly USD 3 billion towards global polyalkylene glycol industry revenue in 2016, is expected to make significant contributions toward the overall industry size over the next few years. Escalating product sales across pharmaceuticals, construction, and vehicle sectors will boost the regional revenue. India and China with rising population along with increase in the spending capacity are the key growth drivers.
Polyalkylene Glycol Market is expected to demonstrate a phenomenal growth over the coming years, subject to the widespread usage of the product in polyurethane foams, functional fluids, surface active agents, lubricants, pharmaceuticals, refrigeration, aerospace, and personal care items. Key manufacturers are trying to expand their product portfolio and acquire a competitive edge through the implementation of business growth strategies such as product differentiation, technological innovations, and strategic partnerships, which will subsequently fuel the market trends. Global Market Insights, Inc., states that polyalkylene glycol industry value, which was assessed at USD 8 billion in 2016, is set to hit USD 18 billion by 2024.
Polyalkylene glycol market size in the lubricants sector is slated to expand at a cumulative rate of more than 10.5% over the coming timeframe, subject to the growing use of the product in car engines, aircrafts, vehicle parts, and marine applications for enhancing their performance. Surging product demand subject to its beneficial characteristics such as eco-friendliness and oxidation stability is certain to impel the regional growth.
The personal care sector is expected to prominently influence the growth of polyalkylene glycol market, as the product is extensively used to manufacture hair items, toothpastes, and shampoos. Growing consumer consciousness about maintaining cleanliness coupled with the rise in their incomes will drive the business growth.
Major players in polyalkylene glycol market include The Dow Chemical Company, Saudi Basic Industries Corporation (SABIC), BASF SE, Bayer AG, Exxon Mobil Corporation, Ineos Group AG, LyondellBasell Industries N.V., Royal Dutch Shell plc, Clariant International AG, E. I. du Pont de Nemours and Company, Repsol S.A., Huntsman International LLC, Croda International PLC, Akzo Nobel N.V., and Idemitsu Kosan Company Limited.
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Glimpse of Table of Content (ToC)
Chapter 4. Polyalkylene Glycol Market, By Product
4.1. Polyalkylene glycol market share by product, 2016 & 2024
4.2. Polyethylene Glycol (PEG)
4.2.1. Market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.3. Polypropylene Glycol (PPG)
4.3.1. polyalkylene glycol market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecasts by region, 2013 – 2024
4.4.1. Market estimates and forecasts, 2013 – 2024
4.4.2. polyalkylene glycol market estimates and forecasts by region, 2013 – 2024
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