PRESS RELEASE
Posted on May 23, 2023
Data Bridge Market Research analyzes that the global polyethylene glycol The market is expected to reach the value of USD 8,025.05 million by 2030, with a CAGR of 6.4% during the forecast period.
Market definition
PEG or polyethylene glycol is a polymeric material composed of ethylene oxide and water as monomers that are not only hydrophilic but also biocompatible. However, it is a synthetic molecule synthesized by polymerization of ethylene oxide where a ring opening occurs. Because it is composed of water and ethylene oxide, it finds countless applications in industries ranging from pharmaceuticals to construction.
Polyethylene glycols are made reactive by replacing the terminal hydroxyl group with various reactive functional groups such as thiols, carboxyl groups, azides of N-hydroxysuccinimide esters, or reactive alkyne groups, which initiate cross-linking. It is conjugation chemistry, which plays an important role in its synthesis and, depending on the functional group attached, different conditions and methods are chosen. For example, acrylate-terminated polyethylene glycols could undergo rapid reaction under mild reaction conditions. It is colorless, non-toxic, non-irritating in nature and has a very high biocompatibility. It is widely used as an antifoam agent, lubricant, dispersing agent and laxative. It is applicable to a variety of industries, including 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 the expansion of the market. Polyethylene glycols are crucial components of pharmaceutical formulations used to create topical, oral, ophthalmic and rectal treatments. In various medicinal applications, they serve as lubricants and film coating agents. In addition, the use of polyethylene glycol in paint and coating products will open up more business potential for polyethylene glycol markets. However, strict government regulations may restrain the growth of the market.
Global Polyethylene Glycol Market Dynamics
This section seeks to understand the market drivers, advantages, opportunities, restraints and challenges. All these are discussed in detail as follows:
Drivers:
- Growing demand for medicines
Drug discovery is a tedious process that takes many years. Research and development to create innovative new pharmaceutical products is becoming more important due to the increasing number of chronic diseases, the aging population and the entry of generic competitors into the future market.
The pharmaceutical industry is growing globally at a faster 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 to oncology and analgesic drugs, lipid regulators, antidiabetics, respiratory agents and others, with the United States showing the highest revenue growth.
In evaluating the pharmacodynamics of candidate compounds, drug metabolism plays a direct role. Polyethylene glycol acts as an inactive ingredient in the pharmaceutical industry, usually as a wetting and thickening agent in ointments and creams, and is used to add protective coatings to tablets. In addition, its use as an electrolyte solution for the examination of disorders and dysfunctions in the colon of humans is well known.
- Use of PEGlycation technology in biotechnological and pharmaceutical applications
PEGylation is the technique of modifying biopharmaceutical products containing polyethylene glycol to improve the pharmacological properties of proteins and other large molecules in biotherapeutic drugs. The technique extends the half-life period of the parent drugs and improves the aqueous solubility of the pharmaceutical substances.
PEGylation of protein molecules involves the addition of PEG molecules to the protein structure, which modifies its pharmacokinetic properties and reduces the immunogenicity of molecules that help prevent infections, specifically in cancer therapy. The technique consists of the conjugation of protein molecules that prolongs the blood circulation of the proteins with the reduction of immunogenicity. This is because certain groups of antibodies, called Anti-PEGs, in the immune system recognize and bind to the polyethylene glycol molecules. Anti-PEG antibodies are non-toxic in nature and do not cause damage to human tissues.
Major market competitors covered in the report
- WISE
- LOTTE CHEMICAL CORPORATION
- INEOS
- Croda International Plc
- BASF SE
- Dow
- 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.
- clarifying
- Shanghai Bronkow Chemical Co., Ltd.
- Shanghai Taijie Chemical Co., Ltd.
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Global Scope of the Polyethylene Glycol Market
The global polyethylene glycol market is classified into four notable segments, which are grade, shape, packaging size, and application. The growth among these segments will help you analyze the major growth segments of the industries and provide users with valuable market overview and market insights to help them make strategic decisions to identify core market applications.
degree
- PEG 200
- PEG 300
- PEG 400
- PEG 600
- PEG 1000
- PEG 3350
- PEG 4000
- PEG 6000
- PEG 8000
- PEG 10000
- PEG 20000
Based on 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 2000.
form
- opaque liquid,
- Solid Zero White
- Flakes/dust
Based on form, the market is segmented into opaque liquid, white waxy solid and flakes/powder.
Size of the packaging
- Plastic bottles
- Battery bags
According to the size of the container, the market is segmented into bottles and plastic drums.
application
- Health care
- Building and Construction
- industrial
- Cosmetics/Personal care
- others
Based on application, the market is segmented into healthcare, building and construction, industrial, cosmetics/personal care, and others.
Global Polyethylene Glycol Market Regional Analysis / Insights
The Polyethylene Glycol market is analyzed and market size insights and trends are provided by country on grade, shape, packaging size, application and market size.
The countries covered in the global polyethylene glycol market report are USA, Canada, Mexico, Germany, UK, 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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