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Polyalkylene Glycol Market Share, Industry Analysis, Top Manufacturers, Global Size, Growth Rate, Research Report Forecast to 2023
May 03, 2019 (AB Digital via COMTEX) —
Polyalkylene Glycol Market Overview:
Polyalkylene Glycol is a polyether compound obtained in the form of a wax-like substance, crystalline in nature. It is soluble in various organic solvents such as benzene, chloroform, and others. Moreover, its non-toxicity, wear resistance, long durability, and superior performance are the important trends and factors influencing the market confidently. Therefore, they are used in various applications such as polyurethane foam, functional fluids, lubricants, personal care, pharmaceuticals, surface active agents, and others.
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Among the various segments in Polyalkylene Glycol Market, the Polypropylene Glycol segment has witnessed a significant growth due to its extensive use in numerous foams such as rigid, spray and flexible. Due to its growing popularity, the manufacturers in various countries have adopted this product to use it in automotive, construction, and other industries. It is also used as aircraft de-icing fluid, and anti-freeze agents in automotive industries. It is estimated that the sub-segment Polyethylene Glycol is set to grow at a higher CAGR owing to its boundless use as dispersing agents, solvents, ointments, tablets, and others. The growing production of water-based paints, coatings, and its endless use in end-use industries is set to drive the Polyethylene Glycol Market over the assessment period. The market by application is segregated into polyurethane foam, functional fluids, lubricants, personal care, pharmaceuticals, surface active agents, and others. The polyurethane foam segment is projected to expand at a significant rate due to extensive consumption of product as a lubricant, coolants in automotive, industrial and aviation sectors. Moreover, the increasing demand for lubricants in automobile engines, aircraft, marine, and others are projected to drive the market due to its excellent performance and bio-compatibility.
The Polyalkylene Glycol Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing adoption of Polyurethane Foams in automotive, construction, aviation, and others. The Polyurethane Foam segment holds the major portion and is anticipated to continue its dominance in the market due to extraordinary features offered by the product such as anti-oxidant, eco-friendly, and other characteristics. Therefore, countries such as China, Japan, South Korea, and India are the major players in this market.
The North American region is growing significantly due to growing demand for polyethylene and Polypropylene Glycol products in automotive, construction, and other industries. It is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period. The growing consumption of Polyurethane Foam in end-use industries has propelled the growth in countries such as the U.S, Canada, and Mexico to achieve a stunning growth in the market because they provide unique lightweight, thermal resistance, and high standard performance to the product.
The European market has observed a remarkable growth due to stringent rules and regulations implemented by the regional governments to follow lightweight products in end-use industries. The market has been driven by the application of this rule in Polyurethane Foam, functional fluids, lubricants, personal care segments. It is estimated that the growing innovation and technological advancement in lithium-ion batteries, and other products is predicted to propel the growth in the countries such as the U.K, Italy, Germany, and France during the forecast period.
The Middle East & Africa region is estimated to witness a good growth in the market due to the growing consumption of Polyurethane Foams in construction, automotive, and other sectors. Moreover, Latin America is anticipated to witness a higher growth in the market due to increasing demand for product in the end-use industries.
The Global Polyalkylene Glycol Market is segmented into the product, and application. On the basis of product, the market is segregated into polyethylene glycol, and polypropylene glycol segments. The market by application is further categorized into polyurethane foam, functional fluids, lubricants, personal care, pharmaceuticals, surface active agents, and others.
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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