From GlobeNewswire: 2024-11-14 03:30:00

The Polyethylene Glycol Market is projected to grow from $3.94 billion in 2024 to $5.31 billion by 2029, with a 6.2% CAGR. Increasing demand in pharmaceutical and personal care industries, driven by product efficacy and safety awareness, contributes to market growth. North America leads in industrial use, supported by government policies.

Key players in the market include BASF, Dow, Clariant, Lotte Chemical, and Sabic, among others. Drivers include growing demand for medicines, while fluctuating raw material prices present a restraint. Opportunities lie in long-acting medications, with challenges in degradation issues. PEG 200 is the second fastest growing grade in the market.

Asia Pacific is the fastest growing region for PEG market, driven by the pharmaceutical industry’s demand for PEG in drug formulations and delivery systems. Advancements in PEGylation technology enhance drug delivery systems, with PEG hydrogels for controlled drug release. Expanding healthcare infrastructure in key regions like India, China, and the US further propels market growth.

The rise of biologics and personalized medicines offers opportunities for developing advanced PEG formulations. Sustainability trends create demand for bio-based PEG, appealing to environmentally conscious consumers. Collaboration with research institutes for innovation and R&D investments can strengthen market position. PEG use in pharmaceuticals enhances solubility, stability, and controlled release of medications.

White wax solid form of PEG is the fastest growing due to its properties and applications in pharmaceutical, personal care, and industrial sectors. Its ease of handling, shelf stability, and moisturizing properties drive market growth. Applications include ointments, creams, lotions, and industrial coatings. Asia Pacific’s growing healthcare and personal care industries boost PEG market expansion.



Read more at GlobeNewswire: Polyethylene Glycol Market Estimated to Reach $5.31 billion