PEG or polyethylene glycol is a polymeric material composed of ethylene oxide and water as monomers which are not only hydrophilic but also biocompatible. However, it is a synthetic molecule synthesized by polymerizing ethylene oxide where a ring-opening takes place. As it is composed of water and ethylene oxide, it finds innumerable applications in industries ranging from pharmaceuticals to construction.
Data Bridge Market Research analyses that the global polyethylene glycol market is expected to reach the value of USD 8,025.05 million by 2030, at a CAGR of 6.4% during the forecast period.
Polyethylene glycols are made reactive by the replacement of the terminal hydroxyl group with several reactive functional groups such as thiols, carboxyl groups, N-hydroxysuccinimide esters azides, or reactive alkyne groups, which initiate the formation of crosslinks. It is conjugation chemistry, which plays a major role in their synthesis and depending on the attached functional group, different conditions and methods are chosen. For instance, acrylate-terminated polyethylene glycols could undergo rapid reaction under mild reaction conditions. It is colorless, low-toxic, non-irritating in nature, and has very high biocompatibility. It is widely used as an anti-foaming agent, lubricant, dispersive agent, and laxative. It is applicable to a variety of industries, such as pharmaceuticals, healthcare, building and construction, personal care, and cosmetics.
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The global polyethylene glycol market is being driven by the pharmaceutical industry is a key driver driving market expansion. Polyethylene glycols are crucial components of pharmaceutical formulations used to create topical, oral, ophthalmic, and rectal treatments. In a number of medicinal applications, they serve as lubricants and film-coating agents. Additionally, the use of polyethylene glycol in paint and coating products will open up more business potential for polyethylene glycol markets. However, stringent government regulations may restrain market growth.
Market Dynamics: Polyethylene Glycol Market
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Growing demand for medicines
Drug discovery is a tedious process that takes many years. Research and development towards creating new innovative pharmaceuticals are becoming important due to the increased number of chronic diseases, the aging population, and the entry of generic competitors in the future market.
The pharmaceutical industry is growing globally at an increased rate, with ‘Pfizer medicine having the highest sales rate in the market. Pfizer’s research and development department also predicted that the main research is attributed towards oncologic and pain killer drugs, lipid regulators, antidiabetics, respiratory agents, and others, with the United States showing the highest revenue growth.
In the evaluation of the pharmacodynamics of candidate compounds, the metabolism of drugs plays a direct role. Polyethylene glycol acts as an inactive ingredient in the pharmaceutical industry, usually as a wetting and thickening agent in ointment and creams, and is used to add protective coatings tablets. Moreover, its use as an electrolyte solution for the examination of disorders and dysfunctionality in the colon of humans is well known.
- Usage of PEGlycation technology in biotechnological and pharmaceutical applications
PEGylation is the technique of modification of biopharmaceuticals containing polyethylene glycol to enhance the pharmacological properties of the proteins and other large molecules in bio-therapeutic drugs. The technique elongates the period of the half-life of the parental drugs and enhances the aqueous solubility of drug substances.
The PEGylation of protein molecules involves the addition of PEG molecules to the protein structure, which changes its pharmacokinetic properties and reduces the immunogenicity of molecules that help prevent infections, specifically in cancer therapy. The technique involves the conjugation of protein molecules that prolongs the blood circulation of proteins with the reduction of immunogenicity. This is because certain groups of antibody, called Anti-PEG, in the immune system recognizes and binds to the molecules of polyethylene glycols. Anti-PEG antibodies are non-toxic in nature and cause no harm to human tissues.
- Production of polyethylene glycol- 400 for eye drop applications
Polyethylene glycol-400 is a clear and colorless liquid mainly derived from petroleum possessing the characteristic of a standard petroleum polyethylene glycol. The shelf life of these eye drops is one year when stored in a cool and well-ventilated space.
Polyethylene glycol-400 is a low molecular weight compound with less toxicity. It is very hydrophilic, which makes it useful in drug formulations. Its major application lies as an ophthalmic solution, which is generally used for the treatment of burning, discomfort, or dryness of eyes. There are various names, such as blink gel tears, blink tears, or vision true tear liquids, for eye drop solutions that contain the same compound.
Some of the major players operating in the Polyethylene Glycol market are:
- LOTTE Chemical CORPORATION
- Croda International Plc
- BASF SE
- Liaoning Oxiranchem, Inc.
- India Glycols Limited
- Mitsui Chemicals, Inc.
- Merck KGaA
- Liaoning Kelong Fine Chemical Co., Ltd.
- Dynalene, Inc.
- ProChem, Inc International
- Noah Technologies Corporation
- Mil-Spec Industries Corporation
- GFS Chemicals, Inc.
- Hefei TNJ Chemical Industry Co., Ltd.
- Shanghai Bronkow Chemical Co.,Ltd.
- Shanghai Taijie Chemical Co., Ltd.
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Global Polyethylene Glycol Market Scope
The global polyethylene glycol market is categorized into four notable segments, which are grade, form, packaging size and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- PEG 200
- PEG 300
- PEG 400
- PEG 600
- PEG 1000
- PEG 3350
- PEG 4000
- PEG 6000
- PEG 8000
- PEG 10000
- PEG 20000
On the basis of grade, the market is segmented into PEG 200, PEG 300, PEG 400, PEG 600, PEG 1000, PEG 3350, PEG 4000, PEG 6000, PEG 8000, PEG 10000, and PEG 20000.
- Opaque Liquid,
- White Waxy Solid
- Flakes/ Powder
On the basis of form, the market is segmented into opaque liquid, white waxy solid, and flakes/ powder.
- Plastic Bottles
- Drums Bags
On the basis of packaging size, the market is segmented into plastic bottles and drums.
- Building and Construction
- Cosmetics/Personal Care
On the basis of application, the market is segmented into healthcare, building and construction, industrial, cosmetics/personal care, and others.
Regional Analysis/Insights: Polyethylene Glycol Market
The polyethylene glycol market is analyzed and market size insights and trends are provided by country on grade, form, packaging size, application and market size insights and trends are provided based on as referenced above.
The countries covered in the global polyethylene glycol market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Sweden, Poland, Denmark, Finland, Norway, Turkey, Rest of Europe, Japan, China, South Korea, India, Australia, New Zealand, Vietnam, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, South Africa, United Arab Emirates, Saudi Arabia, Egypt, Qatar, Oman, Kuwait, Bahrain, Rest of the Middle East and Africa, Brazil, Argentina and Rest of South America.
Asia-Pacific is expected to dominate the global polyethylene glycol market in terms of market share and revenue. It is estimated to maintain its dominance during the forecast period due to strong market players and high demand for Asia-Pacific products in the global region.
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