Polyethylene Glycol Market Analysis

Polyethylene Glycol Market Analysis

The application of polyethylene glycol in plastics will grow at a CAGR of 9.3% with revenue mounting to USD 565 million by 2027. The product is often used in engineered plastics. They are often copolymerized with other monomers to produce polyester and polyurethane elastomers. Increasing demand for such polymers in various end-use applications will propel market growth.
 

Polyethylene glycol has gained significant interest in the medical community for use as a biomedical polymer. Polyethylene glycol-based polymers have bio & blood compatibility in grafted, linear & gel forms. Rising demand for engineered plastics among the end-user industries will propel the polyethylene glycol market growth.
 

Asia Pacific is the largest geographic market of the product. The region has a significant number of strongly growing economies such as India, Indonesia, Malaysia, Bangladesh, etc. The growing presence of various end-user industries and a large consumer base will drive the market growth. APAC has the presence of strongly growing end-user industries such as the pharmaceutical, automotive, and building & construction industries. Furthermore, rising per capita consumption of plastics will aid market growth.
 

The region is experiencing rapid urbanization &industrialization owing to rising per capita income and global companies shifting their manufacturing base in the region, which will drive product demand. Rising infrastructure projects in the region will propel market growth. The APAC region will grow at a CAGR of 11.1% in terms of revenue.