Polyalkylene Glycol Market – Overview
Polyalkylene Glycol a wax like substance find usage in numerous end use application such as personal care, pharmaceuticals, polyurethane foam, lubricants, functional fluids, surface active agents, and others. The market is projected to witness steady growth on account of their usage in numerous end use industries specifically in cosmetics & personal care, pharmaceuticals & healthcare, automotive, and others. On the basis of the end use application segment, polyurethane foam is anticipated to register strong growth followed by lubricants on account of their increased use in heavy end use industries across the globe. In addition, increasing passenger vehicle manufacturing base in developing countries combined with burgeoning need for high quality Polyalkylene Glycol based lubricant is estimated to fuel the growth of the market over the forecast period.
Geographically, Asia Pacific accounted for the largest market share for Polyalkylene Glycol in 2016, followed by North America which is further trailed by Europe. The North American Polyalkylene Glycol Market is anticipated to witness above average growth during the review period on account of substantial growth of aviation and healthcare sector in this region. In North America, the market is further segmented into Canada and the U.S., among these the U.S. is predicted to hold major regional market share of Polyalkylene Glycol due to strong presence of major operating players in this region.
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Asia Pacific is expected to witness tremendous growth over the assessment period in Polyalkylene Glycol Market over the assessment 2017 to 2023. The demand for Polyalkylene Glycol is anticipated to raise in various countries of Asia Pacific such as Japan, Indonesia, Malaysia, Taiwan, India, China, South Korea, and the Philippines owing to increasing population combined with shifting of manufacturing base for most of the matured market players in this region. In Europe, Polyalkylene Glycol Market is predicted to register moderate growth owing to shifting consumer preference towards the Polyalkylene Glycol based products along with high adoption rate in several end use industries specifically in Germany, Poland, Italy, France, Belgium, Spain, UK, and Russia. Moreover, numerous countries of Latin America and the Middle East & Africa are predicted to witness significant growth in Polyalkylene Glycol owing to rising per capita disposable income coupled with sales of Polyalkylene Glycol based product specifically in Guatemala, Peru, Argentina, Brazil, Chile, Mexico and Venezuela combined with expanding cosmetics and lubricants manufacturing hubs specifically in Saudi Arabia, Qatar, Oman, Israel, UAE, Kuwait, and Turkey.
Industry/ Innovation/ Related News:
February 2018- Univar, a leading distribution company announced to establish an agreement with DuPont, and two other organization. Under the agreement with DuPont Univar will distribute Ucon Polyalkylene Glycol fluids and lubricants across the North America.
June 2016- BASF SE announced to start manufacturing of Polyalkylene Glycol (PAG) base stocks and industrial lubricants at their new facility in Germany in May. The plant has started operation in May and will produce a broad range of PAG based base stocks and finished lubricants for industrial application such as compressor oils and gear oils.
The Polyalkylene Glycol Market Report has analysed the level of competition among the major manufacturers in Polyalkylene Glycol Market as well as sector growth and market scenario. The global Polyalkylene Glycol Market comprises of broad range of suppliers operating in the market which includes large scale and medium scale manufacturers. The noticeable operating players of Polyalkylene Glycol and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from South Korea, Indonesia, India, Singapore, Bangladesh, China, the Philippines, Taiwan, Malaysia, Australia, Japan, and Thailand. In addition, the major operating players of Polyalkylene Glycol are observed to follow numerous strategic plans to improve their product portfolio such as distribution agreements, strategic acquisition, joint ventures, product launches, and mergers, and exclusive agreements. Main operating players in this market are projected to expand their production capacity of Polyalkylene Glycol to meet the growing demand for Polyalkylene Glycol across the globe.
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