Chemical and Materials

Global Polyethylene Glycol Market Analysis by Trends, share, Top key players & Forecast to 2026

Global Polyethylene Glycol Market

Global polyethylene glycol market is projected to register a healthy CAGR of 5.8% in the forecast period of 2019 to 2026.

The polyethylene glycol is available in so many variants in the market, giving consumers great flexibility in selection of appropriate variant of glycols exhibiting properties for desired applications. It is highly biocompatible which makes its suitable for manufacturing products suitable human use.

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The health issues are increasing worldwide and every individual is suffering from some or another disease which requires the biological fluid testing. Polyethylene glycol acts as an inactive ingredient in the pharmaceutical industry as a solvent, ointment, tablet and capsule lubricant. It acts as an electrolyte solution in colonoscopy i.e. examination of disorders and dysfunctionality in the colon of human body. PEG also finds application as a film coating agent in tablets provided by the medical preventing the rupture or damage of these coating films.

Thus the health related issues increase the demand for medicines and pharmaceutical tablets & ointmnets driving the polyethylene glycol market globally.

RESTRAINTS

Viscosity stability issues in PEG

The study of the viscosity of these liquid mixtures helps in recognizing the physio-chemical properties and behaviour of the solution. Polyethylene glycol is a polyether compound of ethylene oxide and water. All the grades of PEG act as a structure maker in aqueous solutions having different range of viscosities. They serve as green solvents in the making of various compounds of biopharma and medical interests.

PEGylation of biologics has currently been adopted as the global standard for half-life extension. Though it is the perfect tool for chemically modifying the properties of biologics, the non-biodegradability of PEG and extremely high viscosity at high concentrations makes it unfit for use. It led to toxicity concerns such as vacuolation of kidney or liver. The pre-existing or newly developed anti-PEG worked as a hindrance to the therapeutic efficacy of PEGylated proteins.

Strict regulations in the pharmaceutical industry

Polyethylene Glycol are the compounds which are widely used in the pharmaceuticals formulations including every variety of parental, topical, oral, rectal and ophthalmic disorder preparations. Solid grades of PEG with an addition of liquid grade PEG can be used in topical ointments and as ointment bases. Pharmaceuticals companies operate in the most dynamic market environment globally and any change in regulations increases the impact of regulatory compliance for the drug producers & manufacturers.

The malpractices being practiced across the value chain from improper branding to hiding the safety information disregarding the quality manufacturing standards have activated the agencies and regulators to keep a strict eye on the pharma companies.

High demand of substitutes including Mono-ethylene Glycol (MEG)

Mono-ethylene Glycol (MEG) is mainly produced industrially from ethylene or ethylene oxide along with water resulting into formation of glycol. This process if further catalysed by acids and bases under certain temperatures which produces ethylene oxides which is hydrolysed to give MEG and carbon-dioxide.

The demand for the upcoming substitutes of polyethylene glycol especially mono-ethylene glycol and its applications are on high demand as it is the most important commercially available raw material for the industrial applications. MEG has a high growth potential in polyester and fibers and PET applications as it is the primary raw material in the production of PETs.

OPPORTUNITY

Production of PEG 400 for eye-drop applications

PEG 400 is a low molecular weight compound with vey less toxicity level. 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 which contain the same compound i.e. PEG 400.

The reason behind dryness of eyes is the reduced tear production or increased tear evaporation. PEG 400 has been declared as the temporary relief for the burning and irritation in eyes and for protection against irritation and desiccation.

Market Trends:

Global polyethylene glycol market is segmented into three notable segments which are grade, form and application.

  • On the basis of grade, the market is segmented into polyethylene glycol 200, polyethylene glycol 300, polyethylene glycol 400, polyethylene glycol 400 FCC grade, polyethylene glycol 3350, polyethylene glycol 4000, polyethylene glycol 6000 and others. In 2019, polyethylene glycol 400 segment is expected to dominate the global polyethylene glycol market with 30.94% market share and is growing at the highest CAGR of 6.7% in the forecast period 2019 to 2026.
  • On the basis of form, the market is segmented into opaque liquid, white waxy solid, and flakes/powder. In 2019, opaque liquid segment is expected to dominate the global polyethylene glycol market with 79.54% market share and is growing at the highest CAGR of 6.0% in the forecast period 2019 to 2026.
  • On the basis of application, the market is segmented into healthcare, building and construction, industrial, cosmetics/personal care and others. In 2019, Healthcare segment is expected to dominate the global polyethylene glycol market with 45.14% market share and is growing at the highest CAGR of 6.5% in the forecast period 2019 to 2026.

Major Players: Global Polyethylene Glycol Market

Some of the major players operating in this market are SABIC, 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, Norq, Clariant, HAPEC, Shanghai Bronkow Chemical Co., Ltd. and Shanghai Taijie Chemical Co., Ltd.

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