Global sales of Polyethylene Glycol stood at USD 4,046.1 million in 2023. The industry is more projected to exhibit a 5.9% year-over-year growth in 2024 and reach USD 4,284.0 million in the same year. Surging at a CAGR of 6.4% between 2024 and 2034, demand for Polyethylene Glycol is valued to reach USD 7,999.4 million by 2034.
The liquid polyethylene glycol sector leads the industry, with a 54.9% share in the segment. This high demand is attributed to its multi-application bases and versatility across various fields, especially within the pharmaceutical, cosmetic, and personal care industries. Water solubility and low toxicity make liquid PEG ideal for use in tablet binders, fillers, topical preparations, and moisturizers.
Its smooth texture and ease of formulation further enhance its appeal for personal care products. Its share in the industry is driven by the ever-growing demand for cosmetics and pharmaceuticals, thus having a direct impact on the overall growth of the sector by fueling advancements and higher consumption in these fields.
The pharmaceutical segment dominates the industry share due to its use in a wide range of applications, including tablet binders, fillers, and topical preparations. The fact that PEG can be used as a solvent, stabilizer, and excipient in various formulations makes it appealing for pharmaceutical applications. Besides, compatibility with most APIs increases its demand. The increasing global demand for drugs, mainly in the management of chronic disease and topical medications, further enhances the sector share
| Attributes | Key Insights |
|---|---|
| Estimated Size, 2024 | USD 4,284.0 million |
| Projected Size, 2034 | USD 7,999.4 million |
| Value-based CAGR (2024 to 2034) | 6.4% |
The trend for sustainability is predominant in the PEG market, with environmental issues coming to the forefront. Manufacturing companies are increasingly considering biodegradable and bio-based alternatives to PEG, given the rising demand for eco-friendly products by customers.
The stringent environmental laws and regulations, along with growing concern for minimizing the ecological footprint of any industrial process, drive this trend. This shift henceforth aligns with the global sustainability goals and evokes competition and investment in developing greener PEG solutions for a wide range of applications.
The future of the PEG industry will be steered by evolving consumer preference, regulatory developments, and technological innovation. With the increasing industrial focus on greener products, a higher demand for environmentally friendly PEG formulations is foreseen. In addition, research and development are continually being pursued to extend the uses of PEG into more diversified sectors such as food, textiles, and agriculture, further enhancing its industry prospects.
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Rising demand for PEG in pharmaceuticals driven by its key role in enhancing drug solubility and delivery system innovations
The pharmaceutical and medical industry represents one of the key drivers in demand for PEGs, due to their essential role in drug delivery systems, conferring solubility, stability, and controlled release of an active pharmaceutical ingredient.
PEG is essential in medical devices, ointments, and creams owing to its lubricating and solubilizing action. Based on this growth of the industry with increasing healthcare needs and advancement in drug formulation technologies, the market for PEG in such critical applications keeps rising.
For instance, in May 2022, EA Pharma Co., Ltd. announced the release of MOVICOL® HD, A new dosage form added to polyethylene glycol chronic constipation treatment for the first time in Japan. The MOVICOL® HD is a high dose formulation of existing "MOVICOL® LD", the first polyethylene glycol indicated for the treatment of chronic constipation.
Polyethylene glycol acts as a solubilizer for poorly water-soluble drugs, hence enhancing their bioavailability to a great extent. By improving the solubility of drugs, PEG ensures better absorption and therapeutic efficacy; thus, it becomes an important constituent in pharmaceutical formulations with the viewpoint of effective drug delivery.
Increasing role of polyethylene glycol (PEG) in cosmetics and personal care
The properties of PEGs, including their high solubility, nontoxicity, and moisturizing effect, readily explain their ubiquitous presence in cosmetic and personal care products. PEGs are active ingredients involved in the formulation process of skin creams, lotions, shampoos, and toothpaste. PEGs are emollients that soften and lubricate the skin, as well as humectants that attract and retain moisture.
For instance, it may work as an active ingredient solvent in a moisturizing cream and thus favorably affect the degree of skin penetration of the mentioned actives, while ensuring uniformity of texture. PEG is incorporated in various shampoo and conditioner formulations to give it a creamy feel and for hair moisture retention.
For example, PEGs are fundamental components in the formulation of a wide number of cosmetic and personal care products because they bear useful properties. Companies like Paula's Choice, BTC Europe, or Weleda make use of PEG alternatives or themselves to appeal to particular consumer needs or preferences for cosmetics.
The Use of Polyethylene Glycol with Biotechnology and Bioengineering is Helping in Enhancing Stability and Longevity of Proteins, Enzymes
The intersection of polyethylene glycol (PEG) with biotechnology and bioengineering is proving to be a field of immense growth and innovation. PEG is a versatile polymer that has emerged as an essential agent for modifying proteins, enzymes, and antibodies, which is significantly improves their stability, solubility, and longevity within biological systems.
This enhancement is primarily achieved through PEGylation, the process of attaching PEG chains to biomolecules, which has revolutionized the development of long-acting therapeutic proteins and biopharmaceuticals.
PEGylation offers several advantages in the realm of biotechnology. By covalently attaching PEG chains to proteins, enzymes, or antibodies, the resulting PEGylated biomolecules exhibit increased solubility in aqueous environments.
This improved solubility is particularly beneficial for proteins and enzymes that are otherwise poorly soluble, thus enhancing their therapeutic potential and allowing for more effective drug formulations.
For instance: Genentech, is a biotechnology company known for its pioneering work in PEGylation. Genentech developed Pegasys, a PEGylated form of the antiviral drug interferon alpha-2a. Pegasys is used to treat chronic hepatitis C and hepatitis B infections. The PEGylation of interferon alpha-2a enhances its pharmacokinetics, allowing for weekly dosing instead of daily injections, which improves patient compliance and overall treatment effectiveness.
High production costs and raw material price volatility can limit profitability and affect the overall market competitiveness of PEG
High production costs and volatility in prices of raw materials continue to pose as major restraints in the growth of the polyethylene glycol market. The manufacture of PEG is a complex process involving a series of chemical reaction and highly specialized equipment, thereby making it an expensive among other polymers.
Ethylene oxide, primary raw material for manufacturing PEGs, prices are volatile on account of changing global supply demand scenario coupled with prevailing international political situation and macroeconomic factors.
Also, the high cost of managing quality, regulatory & environmental and that of energy or raw materials adds to the financial challenges. Investment into more advanced technologies and increased testing is often required to meet the increasingly stringent safety & quality level, especially for pharmaceuticals and food applications. Smaller size manufacturers may not be able absorb these costs as easily as larger manufacturers who can leverage economies of scale.
The global Polyethylene Glycol industry recorded a CAGR of 2.8% during the historical period between 2019 and 2023. The growth of the Polyethylene Glycol industry was positive as it reached a value of USD 4,046.1 million in 2023 from USD 3,619.1 million in 2019.
Between 2019 and 2023, the global market for polyethylene glycol (PEG) witnessed a significant nice growth, which was due to growing demand of end-use industries such as pharmaceuticals and personal care. Sales volumes increased as industries particularly in the formulation processes looked out for reliance and versatile raw material. Also, consumer knowledge regarding advantages of PEG chemical in improving product performance continued to increase bringing about its widespread employment.
For instance, the use of polyethylene glycol as a binder and filler in tablets became indispensable in the pharmaceutical industry owing to the efficiency level required in production with a resultant produce quality demanded here. During this period also there where advancement in manufacturing technology which lead to improvements on product quality and consistency further boosting volume sales.
The COVID-19 pandemic in 2020 was a double-edged sword for PEG sales. Some segments, such as personal care and pharma, benefited from the increased awareness of hygiene and health, whereas others faced severe supply chain and production disruptions.
Following the initial reaction to the pandemic, which suddenly highlighted PEG’s use in hand sanitizers and disinfectants (leading to some heavy buying temporarily), first in 2021 recovery spends globally kicked into high gear followed by strong healthcare investments growth reinvigorating PEG demand broad-based across most end-use applications with a pronounced continued upward trend seen through 2023.
Looking ahead, the demand outlook for Polyethylene Glycol from 2024 to 2034 appears promising with anticipated growth supported by an array of factors. In the backdrop of rising sustainability and the availability of eco-friendly alternatives for cosmetics and personal care formulations, PEG is likely to witness a surge in demand as it is biodegradable.
Meanwhile, burgeoning pharmaceutical sector driven by new drug development and growing focus on patient specific medicine will further underpin growth prospects of PEG which is being increasingly considered as a favorable ingredient. With regulatory landscape vouching more for biocompatible materials that are also non-toxic, PEG will also continue to find usage expansion in advanced applications such as novel drug delivery systems catering to personalized medicine.
Advances in technology and new PEG derivatives and formulations under research will be useful in satisfying the needs of mutating industries. Improvements in the performance of PEG, especially in textile, rubber, and chemical usage, are likely to develop new market opportunities.
Specialized PEG products for various applications will enable manufacturers to focus on niches, hence assuring greater overall market growth. With increased investments in research and development and a focus on product development, this market of PEG is expected to grow for a long period of ten years ahead; thus, opportunities can be substantial for the stakeholders all along the chain.
Principal Consultant
Tier 1 companies include industry leaders with annual revenues exceeding USD 30,000 - 20,000 million. These companies are currently capturing a significant share of 25-30% globally. These frontrunners are characterized by high production capacity and a wide product portfolio.
Extensive expertise in manufacturing and a broad geographical reach, underpinned by a robust consumer base, distinguish them. The firms provide a wide range of products and utilize the latest technology to meet regulatory standards. Prominent companies within Tier 1 include BASF, SABIC, The DOW Company, Evonik Industries AG, Clariant.
Tier 2 companies encompass mid-sized participants with revenues ranging from USD 10,000 - 15,000 million, holding a presence in specific regions and exerting significant influence in local economies. These firms are distinguished by their robust presence overseas and in-depth industry expertise.
They possess strong technology capabilities and adhere strictly to regulatory requirements. However, the firms may not wield cutting-edge technology or maintain an extensive global reach. Noteworthy entities in Tier 2 include Mitsui Chemicals, Croda, Sanyo Chemicals, Liaoning Oxiranchem.
The section below covers assessments of Polyethylene Glycol sales across key countries. Countries from East Asia, and North America, are anticipated to exhibit promising double-digit growth over the forecast period.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| Japan | 8.5% |
| South Korea | 7.9% |
| China | 7.3% |
| India | 6.3% |
| UK | 5.7% |
The market for polyethylene glycol in Japan is significantly increasing on account of the increased utilization in pharmaceutical and cosmetic products because of the aging population and change in healthcare needs in Japan. Compared to other countries, a larger number of older people with complex medical care needs and aesthetic solutions are there in Japan.
PEG is increasingly being used as a binder, filler, and solvent in the preparation of pharmaceutical formulations to enhance delivery systems and compliance of drugs from patients. It's suited for all different formulations because it's biocompatible and capable of stabilizing active ingredients.
Cosmetics use PEG as a moisturizer and humectant, which is critical in skin care products because of the dryness that the skin is suffering from among aged patients. Anti-aging, besides personalization of anti-aging, also utilize PEG-based products and will continue to surge. Health-conscious consumers will demand quality ingredients in products, which will be responded to by manufacturers with innovative products using PEG, hence upping competition and investment in research and development.
Among the most important causes is the high caliber of Japan's pharmaceutical and cosmetic industries, both having very solid regulatory frameworks to protect the safety and efficacy of any final product. PEG production technology advancement also provides manufacturers with a means of developing products with a wide range of profiles for both pharmaceutical and cosmetic sectors.
Formulations for high-quality products increase the demand for polyethylene glycol- a versatile ingredient, mainly used in cosmetics due to its excellent moisture retention and emulsifying properties. South Korean consumers increasingly seek products offering improved efficacy, hydration, and skin compatibility therefore brands have begun using PEG in their formulations.
The impact is hence cataclysmic for the polyethylene glycol market, with growing customer preference for multi-functional and innovative skincare products being the driving force of demand.
Most brands are making intensive use of PEG to formulate products that moisturize but also smoothen the texture and absorption of the active ingredients in them, thus making it alluring for consumers. Moreover, K-beauty products that often contain unique formulations and ingredients help strengthen this role of PEG in the competitive marketplace.
South Korean consumers want to activate this rising awareness regarding skincare through transparency and performance of the active ingredient. Companies are investing a lot in research and development of PEG-based formulations in order to target specifically some of the pressing skin concerns of aging, hydration, and sensitivities.
The trend toward sophisticated and advanced skincare products will fuel the growth of polyethylene glycol markets in South Korea, bridging all areas for becoming one of the key players in the rapidly changing beauty industry.
China is the world's largest producer of textiles and continues to produce more to meet orders from both within and outside the country. Increasing demand for quality textiles means their accompanying chemical additives, such as PEG, must be more sophisticated to endow fabrics with the best possible performance and aesthetics.
PEG is widely applied in the processing of textiles because of its excellent softening properties. This requires improving the texture and drape of clothing, an ever-increasing requirement of the consumer, who demands softer, comfier fabrics. Besides that, PEG is a dyeing aid that enhances smooth uptake and fixation of dyes.
Two properties of PEG are quite significant while creating colorful, longer effects on textile material. Its antistatic property also enhances handling and processing of textiles to eliminate static cling, hence better finished products.
This ripple effect is far reaching, well into the world of Polyethylene Glycol. Textile manufacturers are producing more and more goods, which results in a higher need for PEG. Innovation in textiles but also pushes the search for even greener and more performance-oriented materials. The general industry trend toward processes that make more sense also increases the demand.
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The section explains the growth trajectories of the leading segments in the industry. In terms of End Use, pharmaceutical category will likely dominate and generate a share of around 33.1% in 2024.
Based on product type, Liquid segment is projected to hold a share of 54.9% in 2024. The analysis would enable potential clients to make effective business decisions for investment purposes.
| Segment | Liquid (Product Type) |
|---|---|
| Value Share (2024) | 54.9% |
Liquid Polyethylene Glycol is the most widely used product in this market, with a total share of 54.9%. Its utility across a diverse group of applications propels the growth especially in pharmaceutical and cosmetics industries.
Liquid PEG, which comes in various molecular weights like PEG 200, PEG 300, and PEG 400, is an excellent solvent and humectant that improves the stability and texture of preparations. This makes its application in consumer products safe and effective since it has non-toxic properties.
The liquid form of PEG is very important for the formulation process of topical preparations, like ointments and creams, where it plays a role in the delivery and absorption of the drugs. Apart from its ability to deliver drugs, PEG has moisturizing properties and is widely used in personal care products to hydrate the skin.
With increasing demand from industry for multifunctional ingredients, the ability of liquid PEG to blend well with other components, whilst at the same time being capable of offering desirable attributes, positions it as a critical ingredient across various sectors, and this keeps on giving it much strong market dominance in the polyethylene glycol market.
| Segment | Pharmaceuticals (End Use) |
|---|---|
| Value Share (2024) | 33.1% |
Polyethylene glycol, or PEG, is the leading end-use market for pharmaceutical application accounting to 33.1% of the market share. PEG is indeed very important in drug formulation. It comes as a versatile binder and filler in tablets that enhance drug stability and bioavailability.
This is due to its nontoxicity and excellent solubility characteristics, allowing better absorption of active ingredients. PEG is also widely used in topical preparations, creams, and ointments where it acts as a vehicle that aids in delivering active pharmaceutical ingredients to the skin effectively.
Besides these applications in solid and topical formulations, PEG is also applied in liquid preparations. Because of its special characteristics, PEG can be used for formulation of oral solutions and suspensions, which are highly useful for a patient who cannot swallow the tablets.
As the requirement for new drug delivery technologies is increasing, the pharmaceutical industry is highly dependent on PEG in enhancing the performance of the formulation, thus driving the large share of the polyethylene glycol market.
The section also provides insight analysis and perspective, which put companies based both in the developed and developing nations abreast of recent opportunities and emergent trends. It assesses the latest manufacturing developments and identifies fresh trends that are likely to find applications in new uses in the market.
Key players in the polyethylene glycol market are investing in capabilities and resources to meet the growing demand for the compound across diversified applications. Large enterprises through partnership and joint venture methods develop new products and broaden resource bases.
Major players are also launching new products to cater to the growing demand for innovative solutions across different end-use industries. Geographical expansion is one of the crucial strategies being adopted by renowned companies. The emergence of startups in this industry is expected to take place up to 2034, which will further lead to increasing competitiveness in the industry.
Industry Updates
In terms of product type, the industry is divided into Liquid under (PEG 200, PEG 300, PEG 400, PEG 600), Solid under (PEG 1000, PEG 1500, PEG 2000), Powder/Flakes (PEG 3000, PEG 8000, PEG 10000, PEG 20000). The industry is divided by product type into liquids, which include PEG 200, PEG 300, PEG 400, and PEG 600; solids, including PEG 1000, PEG 1500, and PEG 2000; and powders or flakes, which consist of PEG 3000, PEG 8000, PEG 10000, and PEG 20000.
In terms of application, the industry is divided into pharmaceuticals, including tablet binders and fillers and topical preparations; cosmetics and personal care, such as moisturizers, humectants, and others; textiles, including softening and finishing agents, dyeing agents, antistatic agents, and others; paper and pulp, with applications like paper softeners and anti-curl agents; the rubber industry, for molding, anti-tack agents, and other uses; and chemicals, including lubricants, plasticizers, resin modifiers, and more.
Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, the Middle East, and Africa (MEA), have been covered in the report.
The global market was valued at USD 4,046.1 million in 2023.
The global market is set to reach USD 4,284.0 million in 2024.
Global demand is anticipated to rise at 6.4% CAGR.
The industry is projected to reach USD 7,999.4 million by 2034.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Product Type 6.2. End Use 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 7.1. Liquid 7.1.1. PEG 200 7.1.2. PEG 300 7.1.3. PEG 400 7.1.4. PEG 600 7.2. Solid 7.2.1. PEG 1000 7.2.2. PEG 1500 7.2.3. PEG 2000 7.3. Powder/Flakes 7.3.1. PEG 3000 7.3.2. PEG 8000 7.3.3. PEG 10000 7.3.4. PEG 20000 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 8.1. Pharmaceuticals 8.1.1. Tablet Binders and Fillers 8.1.2. Topical Preparations 8.2. Cosmetics and Personal Care 8.2.1. Moisturizer and Humectant 8.2.2. Others 8.3. Textiles 8.3.1. Softening & Finishing Agent 8.3.2. Dyeing Agent 8.3.3. Antistatic Agent 8.3.4. Others 8.4. Paper and Pulp 8.4.1. Paper Softeners 8.4.2. Anti-Curl Agents 8.4.3. Others 8.5. Rubber Industry 8.5.1. Molding 8.5.2. Anti-Tack Agent 8.5.3. Others 8.6. Chemicals 8.6.1. Lubricants 8.6.2. Plasticizers 8.6.3. Resin Modifiers 8.6.4. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. South Asia 9.5. East Asia 9.6. Eastern Europe 9.7. Middle East & Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Product Type and End Use for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Evonik Industries AG 19.2. BASF 19.3. SABIC 19.4. The DOW Company 19.5. Huntsman Corporation 19.6. Croda 19.7. Liaoning Oxiranchem 19.8. Clariant 19.9. Lotte Chemicals 19.10. Mitsui Chemicals 19.11. Matangi 19.12. Shree Vallabh Chemicals 19.13. Liaoning Kelong 19.14. Sanyo Chemicals 19.15. Lion Specialty Chemicals Co Ltd
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Polyethylene Glycol Market
