Polyalkylene Glycols Market Strategy, Trends, Growth, Size, Share,...

Polyalkylene Glycols Market Strategy, Trends, Growth, Size, Share, Demand and Forecast to 2032

Postado 2025-01-09 09:38:09

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The global polyalkylene glycols market is currently valued at US$ 2.3 billion and is projected to grow at an impressive CAGR of 9.1% through 2032.

The market's growth is driven by an increasing focus on sustainability and rising demand for bio-based chemicals. Expanding demand for lubricants, growth in chemical manufacturing facilities, supportive government initiatives, and rapid industrialization are further fueling the market's expansion.

However, market growth could face challenges due to fluctuating crude oil and raw material prices, which may impact long-term growth potential.

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Key Takeaways from Market Study

In 2022, the global polyalkylene glycols (PAGs) market is valued at US$ 2.3 billion and is projected to grow at a robust CAGR of 9.1%, reaching US$ 5.5 billion by 2032.
Key drivers of market expansion include the rising demand for bio-based lubricants, increasing automotive production, supportive government initiatives for chemical manufacturing, and strong industrialization trends.
In China, PAG sales are expected to grow at an exceptional CAGR of 10.8%, reaching US$ 1.9 billion by the end of 2032. However, growth could be partially hindered by the high costs of PAG-based lubricants and volatile raw material prices.
The market is dominated by leading companies such as BASF SE, Royal Dutch Shell plc, The Dow Chemical Company, Covestro AG, and LyondellBasell Industries Holdings B.V., which collectively held over 50% market share in 2021.
Demand for polypropylene glycols is forecast to generate US$ 2.5 billion in revenue by 2032, reflecting its increasing application and market potential.

“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

Leading polyalkylene glycol (PAG) manufacturers are ramping up investments in research and development to create innovative, sustainable, and biocompatible chemicals. Companies are also prioritizing the expansion of their production capacities to cater to the growing demand across diverse industry sectors.

The latest polyalkylene glycols market research by Fact.MR, a market research and competitive intelligence provider, delivers a comprehensive analysis of the competitive landscape. This report equips businesses with actionable insights to make informed decisions and maximize profitability.

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