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Polyalkylene Glycol Market Research Report Information by Product (Polyethylene Glycol, Polypropylene Glycol), by Application (Polyurethane Foam, Functional Fluids, Lubricants, Personal Care, Pharmaceuticals and Surface Active Agents) – Forecast till 2032

ID: MRFR/CnM/3645-HCR | 138 Pages | Author: Anshula Mandaokar| May 2024

Polyalkylene Glycol Market Overview 

Polyalkylene glycol Market Size was valued at USD 43.95 Billion in 2023. The Polyalkylene glycol industry is projected to grow from USD 47.11 Billion in 2024 to USD 76.65 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.27% during the forecast period (2024 - 2032).

Polyalkylene Glycol is a crystalline polyether molecule that comes in the shape of a wax-like material. It can be dissolved in benzene, chloroform, and other organic solvents. Furthermore, its non-toxicity, wear resistance, extended durability, and better performance are key trends and aspects that are confidently impacting the industry. As a result, they're employed in a wide range of products, including polyurethane foam, functional fluids, lubricants, personal care, pharmaceuticals, surface-active agents, and more. Polyalkylene glycol-based lubricants are widely used in the automotive sector. The lubricant is contained in Engine oils, gear oils, bearing oils, compressor oils, grease, heat transfer fluids, transmission fluids, and metalworking fluids. Furthermore, the polyalkylene glycol market is driven by increased demand from the automotive sector. In high-temperature applications, polyalkylene glycols have outstanding lubricity qualities, a high viscosity index, are environmentally friendly, and have minimal volatility. The demand for PAGs is expected to rise soon as a result of these qualities. Polyester films, which are manufactured from Polyalkylene Glycol, are utilized in a wide range of packaging applications, from food and pharmaceuticals to industrial and consumer items. As a result, continued demand for glycols would be ensured by expansion in the packaging industry.

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.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. 

Key Players:

The Global Polyalkylene Glycol Market Share by Application:

Polyalkylene Glycol Market

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.

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.

Recent Development

  • In February 2021, A group of researchers from Florida State University developed a novel way of developing safer batteries by utilizing a substance found in plants. For the creation of battery electrolytes, the researchers used an organic polymer known as lignin, which is a stiffening substance present in the cell walls of numerous plants. To generate the latest type of solid electrolyte, researchers mixed the synthetic polymer polyethylene glycol with lignin. Because of its excellent electrochemical stability, polyethylene glycol (the main form of polyalkylene glycol) is one of the most commonly utilized components in solid electrolytes. However, because its efficacy decreases at ambient temperature, the batteries' ability to charge quickly is hampered.

  • Dow Chemical Company (US) is a competitor in the Polyalkylene Glycol Market, competing on pricing and product offering to suit market demands. This significant industry player's preferred approach for surviving in this highly competitive market is to expand in the Polyalkylene Glycol Market.

  • December 2022: Clariant announces new investments to enhance Chinese ethoxylation plant - Clariant is set to expand its Care Chemicals facility in Daya Bay, Huizhou, China, to boost its support for pharmaceutical, personal care, home care, and industrial application customers.The CHF 80 million investment will see capacity increases for existing products as well as the introduction of new products by the end of 2024. By successfully obtaining the drug GMP certificate, the Clariant Daya Bay manufacturing site has become the first API manufacturer in China with certified polyethylene glycol Polyglykol 3350. The site will also become a new global hub for Clariant’s healthcare business support, speeding up the supply of high-quality ingredients for life-changing medicines.“The successful production and registration of the pharmaceutical grade of PEGs are great examples of how resilient and dedicated Clariant is to growing in our strategic dedicated business segment and supporting our customers,” said Zhigang Miao, Head of Industrial Applications, Clariant Care Chemical.Clariant will also expand existing production capacity for its Ethylene Oxide Derivatives (EODs) and a broader chemical portfolio at Daya Bay. As a result, it will step up its production of more sustainable ingredients that can help customers advance their environmental targets and create differentiated, more sustainable solutions to meet sector demands. The EcoTain®-labelled, plant-based Hostapon® mild surfactant for example supports Personal Care brands and formulators in developing milder, cleaner beauty in applications such as solid beauty bars, body washes and cream-type shampoos.

Intended Audience

  • Polyalkylene Glycol Market Manufacturers

  • Traders and Distributors of Polyalkylene Glycol Market

  • Production Process Industries

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory

Report Attribute/Metric Details
Market Size 2023 USD 43.95 billion
Market Size 2024 USD 47.11 billion
Market Size 2032 USD 76.65 billion
Compound Annual Growth Rate (CAGR) 6.27% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  LANXESS (Germany), NITTO DENKO Corporation (Japan), SEKISUI CHEMICAL CO. LTD. (Japan, Wanhua Chemical Group Co.Ltd, Covestro AG (Germany), Tosoh Corporation (Japan), BASF SE (Germany), Recticel (Belgium), DowDuPont Inc. (US), Huntsman International LLC (US), and Trelleborg AG (Sweden)
Key Market Opportunities Rising production of Bio-based Polyol
Key Market Dynamics Rising demand for sports and leisure industry. Increased consumption of polyurethane foam in the automotive sector.

Frequently Asked Questions (FAQ) :

Polyalkylene glycol is a waxy, crystalline compound that is soluble in various organic solvents, including benzene and chloroform.

Polyalkylene glycol is used in various applications, including polyurethane foam, personal care products, functional fluids, and lubricants. The polyurethane foam segment dominates the global market, followed by the functional fluids and lubricants segments.

The increasing use of polyalkylene glycol in the production of industrial and automotive lubricants is likely to be the major driver for the global polyalkylene glycol market over the forecast period.

Asia Pacific holds the largest share in the global polyalkylene glycol market.

Leading players in the polyalkylene glycol market include Clariant, BASF, Dow, LyondellBasell, SABIC, INEOS, Bayer AG, Royal Dutch Shell plc, and Huntsman International.

Polyalkylene Glycol Market

Polyalkylene Glycol is a polyether compound obtained in the form of a wax-like substance, crystalline in nature

By Product Polyethylene Glycol Polypropylene Glycol
By Application Polyurethane Foam Functional Fluids Lubricants Personal Care Pharmaceuticals and Surface Active Agents
Key Players
Companies Profiled   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)
Market Driving Forces    Its extensive use in numerous foams such as rigid    spray and flexible.
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