Polyalkylene Glycols Market Forecasts to 2028 – Global Analysis By Form (Powder, Liquid), Solubility (Water, Oil), Application (Lubricants, Personal Care), Distribution Channel (Offline, Online) and By Geography
According to Stratistics MRC, the Global Polyalkylene Glycols Market is accounted for $2.66 billion in 2020 and is expected to reach $7.43 billion by 2028 growing at a CAGR of 13.7% during the forecast period. Growing automotive industry in Asia-Pacific, increase in consumption of synthetic lubricant and automotive lubricants are driving the market growth. However, fluctuating crude oil prices and high costs of the product over conventional mineral oils are hampering the growth of the market.
Polyalkylene glycol is a common name for the homopolymers or copolymers of ethylene oxide, propylene oxide, or propylene oxide. It occurs when one or more alkylene oxides react with alcohol. It is a hydrofluorocarbon that is produced from ethylene oxides or propylene oxides. Polyalkylene glycol copolymers are obtained from ethylene oxides that provide the finest friction control and act as an alternative to hydrocarbon lubricants.
Based on the type, the polypropylene glycol (PPG) segment is going to have lucrative growth during the forecast period owing to its increasing usage in a variety of foams, increasing demand for polypropylene glycol for various applications and suitable for widespread use in sectors such as chemical, medicinal, personal care, and plastics because of its flexible features. By geography, Asia Pacific is going to have high growth during the forecast period due to the growing automotive industry and the emerging the industrial sector, rising population, along with rapid industrialization and urbanization, the increased purchasing capacity of customers in the region resulting in enhanced lifestyle dynamics and strong demand for polyalkylene glycol in various applications, including manufacturing, automobile, and construction.
Some of the key players profiled in the Polyalkylene Glycols Market include Stepan Company, PAN Asia Chemical Corporation, Ineos Group, Ashland Inc., Huntsman Corporation, Exxon Mobil, Dow Chemical Company, Croda International PLC., BASF SE, Clariant AG, AkzoNobel N.V. and Idemitsu Kosan Co.
Estimated Market Size in 2020:
USD 2.66 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 7.43 billion
Tables, Graphs& Figures
Form, Type, Solubility, Application, Distribution Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Polypropylene Glycol (PPG)
• Polyethylene Glycol (PEG)
• Higher Polyols-Adducts
• Water Soluble
• Oil Soluble
• Mineral Oil Soluble
• Functional Fluids
• Polyurethane Foam
• Surface Active Agents
• Personal Care
• Other Applications
Distribution Channels Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Polyalkylene Glycols Market is majorly driven by growing automotive industry in Asia-Pacific and increase in consumption of synthetic lubricant and automotive lubricants.
The polypropylene glycol (PPG) segment is growing at a highest CAGR due to its increasing usage in a variety of foams, rising demand for polypropylene glycol for various applications and suitable for widespread use in sectors because of its flexible features.
North America dominated with a significant market share due to the growing demand for polyethylene and polypropylene glycol products in automotive, construction, and other industries.
Asia Pacific region is growing at a highest CAGR owing to the growing automotive industry, the emerging industrial sector, amplified local manufacturing, and increased number of domestic players in various vertical market segments.
Key players in Polyalkylene Glycols Market include Stepan Company, PAN Asia Chemical Corporation, Ineos Group, Ashland Inc., Huntsman Corporation, Exxon Mobil, Dow Chemical Company, Croda International PLC., BASF SE, Clariant AG, AkzoNobel N.V. and Idemitsu Kosan Co.
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