Competitive Analysis:
Some of the major players functioning 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.
Market Insight:
Polyalkylene Glycol is manufactured from ethylene or
propylene oxides with the help of polymerization process using alcohol or
water. It provides significant properties such as excellent performance,
strength, and durable nature to the finished material. Moreover, they provide
versatility and reliability to the product.
The Global Polyalkylene Glycol Market has been driven by the
range of its application in various uses such as polyurethane foam, functional
fluids, lubricants, personal care, pharmaceuticals, surface active agents, and
others. Moreover, it is estimated that the polyurethane foam segment is set to
witness the highest growth in the market due to its extensive use in heavy
end-use industries.
Market Segmentation:
The Global Polyalkylene Glycol Market is segregated into the
product and application. On the basis of product, the market is segmented into
polyethylene glycol, polypropylene glycol, and other segments. On the basis of
application, the market is segregated into polyurethane foam, functional
fluids, lubricants, personal care, pharmaceuticals, surface active agents, and
others.
Market Scenario:
The Polypropylene Glycol Market is the leading segment of
the market on account of its growing consumption as flexible, rigid foams, and
others in automotive, construction, and other industries. These materials
provide enhanced energy, strength, and flexibility to the product.
The Polyurethane Foam is the leading application used in the
market and is anticipated to observe a higher CAGR due to extensive use of
product to impart long life and eco-friendly nature to the product.
Regional Analysis:
The Global Polyalkylene
Glycol Market is spanned across five key regions: Asia Pacific, North
America, Europe, Latin America, and the Middle East & Africa. Among these,
Asia Pacific holds a major portion of the global market and is anticipated to continue
its dominance due to rising demand for polypropylene glycol product in various
applications. Countries such as China, Japan, and India are the major players
in this region. The North American region is estimated to witness a higher
growth in the U.S., Canada, and Mexico owing to increasing demand for
lubricants in automotive, aviation, industrial, and other systems. The
enactment of new rules and regulations set by the European Union has driven the
manufacturers to use reduced weight materials in end-use industries. Moreover,
it is projected that the advancing research & development of polyalkylene
glycol in the market has propelled this region to witness a significant growth
in Germany, the U.K, and Italy.
The Middle East & Africa is estimated to observe a
significant growth due to increased consumption of polyalkylene glycol in
end-use industries. Additionally, the growing demand for polyurethane foams in
automotive, pharmaceutical, medical, and other industries is projected to boost
the market in the Latin American region.
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