The Activated Polyethylene Glycol (PEG) Market was valued at US$ 0.13 Billion in 2022 and is anticipated to increase to US$ 0.34 Billion by 2028, with a growing CAGR of 16.85% in the next six years.
PEG stands for polyethylene glycol, which is a polyether molecule having the structural formula H(OCH2CH2)nOH. The reaction of ethylene oxide and water under pressure in the presence of a catalyst is used to make it. Polyethylene glycol comes in three distinct forms, each with a different molecular weight. These are PEGs that are miscible in varying amounts with all other grades of PEG. Acetone, alcohols, benzene, glycerin, and glycols are all soluble in PEG, which is accessible in liquid form. Acetone, dichloromethane, ethanol (95 percent), and methanol are all soluble in solid PEGs. They're also soluble in ether and aliphatic hydrocarbons. They are soluble in fats, fixed oils, and mineral oil, but not in water. PEG is biodegradable, non-toxic, non-immunogenic, hydrophilic (water-soluble), and extremely adaptable.
PEG is used in tablet formulations to boost the efficiency of binders and provide granules with more plasticity by mixing them with another binder. It functions as a lubricant. It's employed in coating formulations as a plasticizer. PEG in solid form is utilized to increase the coating's ductility and prevent it from rupturing. Solid dispersion of suitable polyethylene grade is also utilized to increase the solubility of medicines with poor solubility. Urethane hydrogels, which are employed as controlled-release agents, can be made using PEG. PEG is also used in commercial applications as an anti-foaming ingredient in food, as a dispersion in various skin treatments, and as an anti-foaming agent in toothpaste.
The demand for PEG is rising because of too fast expansion in the pharmaceutical and chemical sectors. These are the primary driving forces behind the Activated Polyethylene Glycol (PEG) Market's rapid expansion. The fast rise of biotechnology and molecular biology over the last two decades has resulted in a significant increase in the number of biological products for pharmaceutical applications, such as proteins, peptides, hormones, and enzymes. With rising downstream demand, it is believed that worldwide demand will continue to rise in the future. Global consumption will reach its heights.
Furthermore, the expanded application scope of water-based coatings, paints, and inks in the construction and automotive sectors is likely to boost Activated Polyethylene Glycol (PEG) Market demand throughout the forecast period. PEG is also utilized in the manufacturing of paper and ceramics as a color stabilizer. PEG consumption is predicted to rise in China and India as the paper sector expands in response to rising domestic demand. Furthermore, advances in hydraulic fracturing have increased the production of unconventional resources like shale gas and tight oil, which is predicted to boost the supply of petrochemicals used in PEG manufacture and offer up new market opportunities. Polyethylene glycols are found in toothpaste, breath fresheners, mouthwashes, and mouth rinses, among other oral care products. Because PEG improves the shelf life and stability of certain dental goods, the demand for them is expected to rise in the medical and healthcare industry.
The Global Transformer Oil market is projected to be hampered by the health and environmental risks connected with the use of PEG in personal care products. PEG (poly (ethylene glycol)) is a synthetic, hydrophilic, biocompatible polymer that has a wide range of uses in biomedical and other fields. PEG is utilized in a variety of commercial applications, including anti-foaming agents in food, various skin treatments, and as a dispersion in toothpaste.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
16.85% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America: United States, Mexico, Canada Europe: United Kingdom, Germany, Italy, France Asia Pacific: Australia, Canada, China Latin America: Argentina, Brazil, Chile The Middle East and Africa: Egypt, Iran, Iraq, Israel |
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Market Leaders Profiled |
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Linear PEGs
Branched PEGs
Multi-arm PEGs
Others
The market for multi-arm PEGs is predicted to increase at a rapid pace. The Multi-Arm PEG product is a unit smart cross-linker that has been extensively explored in the medical and bioorganic material areas, including hydrogel fabrication, drug discovery, 3D cell culture, and wound sealing and healing.
Medical devices are anticipated to help in the development of the activated polyethylene market, as PEG is utilized as dispersion agents, solvents, delivery liquids for pharmaceuticals, ointments, fillers for tablets & suppository bases in ophthalmic solutions, and treating constipation, and is expected to become the fastest-growing market in the projection period.
Activated Polyethylene Glycol (PEG) Market-Regional Analysis
Asia Pacific is likely to be one of the greatest markets for PEG. Due to the industrial expansion of the pharmaceutical, automotive, and construction industries in India and China. Asia Pacific is leading the global activated polyethylene market. Pharmaceutical, automotive, and building and construction sectors are among the fastest-growing end-use industries in APAC. Furthermore, increased per capita polyethylene use will boost market expansion.
The United Kingdom, Germany, France, Spain, Italy, Russia, and the rest of Europe are helping the global activated polyethylene market to boost in the current forecast period.
The ongoing epidemic is wreaking havoc on people's lives all around the world. Since the first outbreak in China, COVID-19 has shown to be fatal, resulting in a global epidemic. In terms of life, electricity, money, and other elements, the countries sustained losses. As a result of the worldwide epidemic, the world ground to a halt, and it is now in pain as new strains and varieties develop. Due to the outbreak of COVID-19, the global economy has been squeezed, and with it the manufacturing sector, production, disruption, and financial markets. Due to the economic slump, which led end-user companies to cut their operating rates, the COVID-19 issue had a substantial influence on polyethylene glycol demand. As governments of different nations decided to implement total lockdown in the nations, due to this action there was a shortage in materials and goods in the supply chain system as the pandemic was hitting the world with a spear.
Recent Developments:
30th September 2019: BASF plans to develop its integrated ethylene oxide and derivatives complex at its Verbund location near Antwerp, Belgium. The whole investment, which is estimated to reach €500 million, would increase BASF's manufacturing capacity for the respective products by nearly 400,000 metric tonnes per year. In 2022, the sequential start-up is planned to commence. An investment in a second world-scale ethylene oxide line, with purified ethylene oxide capacity, is part of the expansion.
1ST December 2020: On the Unipos website, a page dedicated to Creative PEGWorks products (reagents) such as polyethylene glycol (PEG) reagents for testing and research has been introduced. PEG Works of Ingenuity We work with polyethylene glycol (PEG) reagents that are high-purity, high-quality, low-polydispersity, and high reactivity.
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