Polyethylene Glycol Global Market Report 2024

The polyethylene glycol market size has grown strongly in recent years. It will grow from $4.31 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to several factors, including the growing demand for pharmaceuticals, increasing utilization in textile manufacturing, rising demand in the automotive sector, growing awareness about environmental concerns, regulatory approvals, and compliance with safety standards.

The polyethylene glycol market size is expected to see strong growth in the next few years. It will grow to $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to shifting consumer preferences towards green products, expanding applications in nanotechnology, increasing demand for personal care products, regulatory focus on sustainable production practices, and growing demand from emerging economies. Major trends expected during this period include an increased focus on bio-based polyethylene glycol, integration of polyethylene glycol in 3D printing applications, expansion of polyethylene glycol applications in medical devices, development of specialized grades catering to specific industries, and collaboration between manufacturers and end-users for product customization.

The increasing demand for medications is set to drive the growth of the polyethylene glycol market in the coming years. Factors contributing to this demand include the growing prevalence of chronic diseases, aging populations, advancements in medical treatments, expanding healthcare coverage, and increased consumer awareness of healthcare options. Polyethylene glycol plays a crucial role in pharmaceutical compositions, aiding in drug delivery mechanisms, enhancing solubility, and improving treatment effectiveness. For example, data published by the Centers for Medicare & Medicaid Services in December 2023 showed an 8.4% increase in prescription drug spending in 2022, reaching $405.9 billion, surpassing the growth rate observed in 2021 at 6.8%. Consequently, the rising demand for medications is fueling growth in the polyethylene glycol market.

Key players in the polyethylene glycol market are focusing on developing high-dose formulations of polyethylene glycol (PEG) medications to enhance patient convenience and adherence. These formulations aim to reduce dosing frequency, thereby improving patient compliance with treatment regimens. For instance, EA Pharma Co., Ltd., in collaboration with its parent company Eisai Co. Ltd. and Mochida Pharmaceutical Co. Ltd., launched MOVICOL HD in May 2022. This high-dose formulation of the polyethylene glycol (PEG) medication MOVICOL LD offers increased convenience by doubling the quantity per sachet, providing better treatment options, and improving the experience for chronic constipation patients. These advancements represent significant progress in leveraging polyethylene glycol for medical and pharmaceutical purposes, leading to enhanced treatment efficacy and patient satisfaction, thereby driving the ongoing growth of the polyethylene glycol market in addressing chronic constipation concerns.

In July 2023, Vector Laboratories Inc. acquired Quanta BioDesign Ltd. to strengthen its capabilities in polyethylene glycol (PEG), expand its product range, and access additional chemistries for therapeutic and diagnostic advancements. Quanta BioDesign Ltd. is a developer and distributor of life science reagents and assays, including polyethylene glycol, based in the US.

Major companies operating in the polyethylene glycol market are Exxon Mobil Corporation, Mitsui Chemicals Inc., BASF SE, Dow Chemical Company, Saudi Basic Industries Corporation, Thermo Fisher Scientific Inc., Mitsubishi Chemical Corporation, Merck KGaA, INEOS Group, Evonik Industries AG, Solvay S.A., Arkema S.A., Huntsman Corporation, PETRONAS Chemicals Group, Clariant, Croda International Plc, Ashland, Liaoning Oxiranphex Inc., India Glycols Limited, GFS Chemicals Inc., Saibaba Surfactants PVT LTD, Tokyo Chemical Industry Co. Ltd., Noah Chemicals, Carl Roth, Dynalene Inc.

Asia-Pacific was the largest region in the polyethylene glycol market in 2023. The regions covered in the polyethylene glycol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the polyethylene glycol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Polyethylene glycol (PEG) is a synthetic polymer created through the polymerization of ethylene oxide molecules, forming ethylene glycol units linked by an ether linkage. It functions as a laxative by retaining water in the stool, easing passage, and is commonly used for bowel preparation before medical procedures due to its versatility and safety profile, making it widely used across various industries.

The main types of polyethylene glycol are categorized by molecular weight (MW) as less than 1000, between 1000 and 10,000, and greater than 10,000. Polyethylene glycol (PEG) with a molecular weight (Mw) less than 1000 usually refers to low molecular weight PEGs, available in forms such as opaque liquid, powder, flakes, and white waxy solid. These are utilized in diverse applications including medical and pharmaceutical, automotive, building and construction, plastics, aerospace, among others.

The polyethylene glycol market research report is one of a series of new reports that provides polyethylene glycol market statistics, including the polyethylene glycol industry global market size, regional shares, competitors with polyethylene glycol market share, detailed polyethylene glycol market segments, market trends, and opportunities, and any further data you may need to thrive in the polyethylene glycol industry. These polyethylene glycol market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The polyethylene glycol market consists of sales of pharmaceutical excipients, personal care ingredients, industrial chemicals, lubricants, surfactants, and polyurethane foam. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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