Synopsis of Polyalkylene Glycol Market:
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.
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.
Regional Analysis:
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.
Segmental Analysis:
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.
Key Players: Some of the
prominent players operating in the Global Polyalkylene Glycol Market are BASF
SE (Germany), The Dow Chemical Company (U.S.), INEOS( Switzerland), SABIC (Saudi Arabia), LyondellBasell Industries Holdings
B.V.( the Netherlands), DuPont (U.S.), Royal Dutch Shell plc ( the
Netherlands), Bayer AG ( Germany), Clariant ( Switzerland),and Huntsman
International LLC (U.S.) among others.
Geographical Analysis: 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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https://www.marketresearchfuture.com/reports/polyalkylene-glycol-market-5081
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