Polyethylene Glycol Market Generated $4.5 Billion Revenue in 2020: P&S Intelligence

NEW YORK, July 26, 2021 /PRNewswire/ -- A surface-active agent, polyethylene glycol (PEG) is widely consumed during the production of creams and lotions, toothpastes, shampoos, deodorants, conditioners, soaps, bath oils, lipsticks, detergents, surfactants, solvents, plasticizers, suppository bases for tablets and capsules, and ointments. Due to the growth of such end-use industries, the global polyethylene glycol market will advance considerably between 2021 and 2030, since valuing roughly $4.5 billion in 2020, says P&S Intelligence.

The COVID-19 pandemic hit the global economy severely, as manufacturing, logistics, and commercial activities were halted in an effort to slow the virus's spread. The pandemic also fueled vaccine development activities, which impacted the polyethylene glycol market positively. This was because of the usage of this compound as an inactive agent (excipient) in the pharmaceutical sector, including the COVID-19 vaccines of Moderna and Pfizer.

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The polyethylene glycol market divisions based on grade are PEG 6000, PEG 4000, PEG 3350, PEG 400 FCC, PEG 400, PEG 300, PEG 200, and others. Among these, the PEG 400 category held the largest share in the market during 2015–2020 (historical period) on account of this grade's low toxicity and molecular weight. PEG 400 improves the bioavailability and solubility of drug molecules that are weakly water-soluble

White wax solid, opaque liquid, and flakes/powders are the market categories on the basis of form. Among these, the polyethylene glycol market was dominated by the opaque liquid category in 2020, as PEG in this form is widely consumed in the pharmaceutical industry as an excipient and release agent for capsules.

Browse detailed report with COVID-19 impact analysis on cResearch Report: By Form (Opaque Liquid, White Wax Solid, Flake/Powder), Grade (PEG 200, PEG 300, PEG 400, PEG 400 FCC Grade, PEG 3350, PEG 4000, PEG 6000), Application (Medical, Construction & Infrastructure, Industrial, Personal Care) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/polyethylene-glycol-peg-market

Asia-Pacific (APAC) has generated the highest polyethylene glycol market revenue till now because of the growing usage of this compound in the regional medical and pharmaceutical, building and construction, and automotive sectors.

Companies operating in the polyethylene glycol market are augmenting their production capacity, so they can gain larger profits. For instance, in September 2019, the Verbund plant in Belgium was expanded by BASF SE. The expansion, carried out with an investment of over $570.2 million, has increased the plant's annual PEG output by 400,000 tonnes.

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The most-significant players in the global polyethylene glycol market are BASF SE, Croda International plc, The Dow Chemical Company, Ineos Group Ltd., Liaoning Oxiranchem Inc., India Glycols Limited, Jiangsu Haian Petroleum Chemical Factory, Huntsman Corporation, Clariant Ltd., and AkzoNobel N.V.

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SOURCE P&S Intelligence