Rockville, April 20, 2023 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global polyalkylene glycols market stands at a valuation of US$ 2.3 billion at present and is predicted to increase at an astronomical 9.1% CAGR through 2032.
Increasing focus on sustainability and growing demand for bio-based chemicals are anticipated to boost the sales of polyalkylene glycols over the coming years. Growing demand for lubricants, expansion of chemical manufacturing facilities, supportive government initiatives, and rapid industrialization across the world are other factors that are slated to uplift the demand for polyalkylene glycols in the future. On the flip side, fluctuating crude oil and raw material prices are predicted to hamper market growth potential in the long run.
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| Polyalkylene Glycols Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 9.1 % |
| Market growth 2022-2032 | US$ 5.5 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | BASF SE, PAN Asia Chemical Corporation, Clariant, LyondellBasell Industries Holdings B.V., ExxonMobil, DOW Chemical Company, Royal Dutch Shell plc, Idemitsu Kosan, Covestro AG, AkzoNobel NV, Croda International Corp., Ineos AG, Huntsman |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Takeaways from Market Study
- In 2022, the global polyalkylene glycols market is valued at US$ 2.3 billion.
- Demand for polyalkylene glycols is anticipated to increase at an impressive 9.1% CAGR over the next ten years.
- By 2032, sales revenue of the polyalkylene glycols market is slated to reach US$ 5.5 billion.
- Growing demand for bio-based lubricants, increasing automotive production, supportive government initiatives to boost chemical manufacturing, and robust industrialization are prime aspects that will drive market expansion.
- Sales of polyalkylene glycols in China are predicted to rise at a phenomenal CAGR of 10.8% and reach a valuation of US$ 1.9 billion by 2032-end.
- High prices of polyalkylene glycol-based lubricants and volatile pricing of raw materials are expected to hinder market growth to some extent.
- BASF SE, Royal Dutch Shell plc, The Dow Chemical Company, Covestro AG, and LyondellBasell Industries Holdings B.V. are the top five companies that accounted for over 50% market share in 2021.
- Demand for polypropylene glycols is anticipated to rake in revenue worth US$ 2.5 billion by the end of 2032.
“Led by countries such as India, China, Japan, and Korea, the Asia Pacific regional market for polyalkylene glycols is anticipated to be the most lucrative one over the decade,” says a Fact.MR analyst
Prominent Key Players:
- BASF SE
- PAN Asia Chemical Corporation
- Clariant
- LyondellBasell Industries Holdings B.V.
- ExxonMobil
- DOW Chemical Company
- Royal Dutch Shell plc
- Idemitsu Kosan
- Covestro AG
- AkzoNobel NV
- Croda International Corp.
- Ineos AG
- Huntsman
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Winning Strategy
Key polyalkylene glycol manufacturers are increasing their investments in the research and development of novel chemicals that are sustainable and biocompatible. Polyalkylene glycol companies are also expected to focus on increasing their production capacity to meet rising demand from several industry verticals.
This latest polyalkylene glycols market research survey by Fact.MR, a market research and competitive intelligence provider, offers a complete overview of the competitive landscape and aids in informed decision-making to maximize profitability for our clients.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global polyalkylene glycols market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of type (polyethylene glycols, polypropylene glycols, higher polyols-adducts, others), solubility (oil-soluble polyalkylene glycols, mineral oil-soluble polyalkylene glycols, water-soluble polyalkylene glycols), and application (polyurethane foam, functional fluids, lubricants, personal care, pharmaceuticals, surface active agents, others), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
Key Segments in Industry Research
- By Type :
- Polyethylene Glycols
- Polypropylene Glycols
- Higher Polyols-Adducts
- Others
- By Solubility :
- Oil-soluble Polyalkylene Glycols
- Mineral Oil-soluble Polyalkylene Glycols
- Water-soluble Polyalkylene Glycols
- By Application :
- Polyurethane Foam
- Functional Fluids
- Lubricants
- Personal Care
- Pharmaceuticals
- Surface Active Agents
- Others
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Polyalkylene Glycols Market Report
- What is the projected sales value of the polyalkylene glycols Industry in 2022?
- At what rate will the global polyalkylene glycols market size grow until 2032?
- Which are the factors hampering the growth in the polyalkylene glycols ?
- Which region is expected to lead in the global polyalkylene glycols market By 2032?
- Which are the factors driving the polyalkylene glycols Industry during the forecast period?
- What is the expected market value of the polyalkylene glycols market during the forecast period?
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