Polyalkylene Glycol (PAG) Market to cross USD 8.1bn by 2024: Global Market Insights, Inc.

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Nov 21, 2017, 10:00 ET

SELLBYVILLE, Del., Nov. 21, 2017 /PRNewswire-iReach/ -- Polyalkylene Glycol Market is expected to demonstrate a phenomenal growth over the coming years, subject to the widespread usage of the product in polyurethane foams, functional fluids, surface active agents, lubricants, pharmaceuticals, refrigeration, aerospace, and personal care items. Key manufacturers are trying to expand their product portfolio and acquire a competitive edge through the implementation of business growth strategies such as product differentiation, technological innovations, and strategic partnerships, which will subsequently fuel the market trends. Global Market Insights, Inc., states that polyalkylene glycol industry value, which was assessed at USD 8 billion in 2016, is set to hit USD 18 billion by 2024.

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PAG lubricants are likely to replace conventional synthetic lubricants in the market owing to better oxidation stability and environment friendly nature. Furthermore, they impart high performance, greater efficiency, reduced maintenance, lower emission and longer service life of machines & components resulting in providing economic benefits to the consumer which will boost polyalkylene glycol market size over the projected timeframe.

Wavering petroleum sector owing to fluctuating prices are probable to hinder the global polyalkylene glycol market size over the projected timespan. This is due to dependency of petrochemical derivatives as raw material from oil & gas industry. However, strong growth indicators in the pharmaceuticals and personal care industry will generate sufficient prospects for polyalkylene glycol market size in the near future.

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PPG accomplished the maximum market share of the overall polyalkylene glycol market size in 2016. This is primarily due to extensive application in manufacturing variety of PU foams including rigid, flexible and spray. PU foam constituted for over 40% of the total PAG market size in 2016. In addition, widespread PU foam application in automobile and aerospace industry as lubricant and melting agent. PEG finds broad application base in several industries including chemical, pharmaceuticals, personal care, etc. which will consequently help attain prominent polyalkylene glycol market size in the near future.

Personal care is an attractive segment for polyalkylene glycol market which is credited to its extensive application in producing shampoos, hair products, skin care products, toothpaste, bath oils and detergents. Increasing awareness towards cleanliness & hygiene along with improving consumer disposable incomes will boost the global polyalkylene glycol market for personal care industry.

Asia Pacific led the overall industry and accounted for over 40% of the total polyalkylene glycol market share in 2016. This is due to rapidly growing construction, automotive, personal care and pharmaceuticals industry in the recent years on account of increasing population in China and India accompanied with increasing customer disposable income.

Browse key industry insights spread across 132 pages with 146 market data tables & 13 figures & charts from the report, "Polyalkylene Glycol Market Size By Product (Polyethylene Glycol [PEG], Polypropylene Glycol [PPG]), By Application (Polyurethane Foam, Functional Fluids, Lubricants, Personal Care, Pharmaceuticals, Surface Active Agents), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/polyalkylene-glycol-market

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.

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Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, [email protected]

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SOURCE Global Market Insights, Inc.