Polyalkylene Glycol Market Synopsis:
Polyalkylene Glycol is a polyether compound obtained in the form of a wax-like substance, crystalline in nature. It is soluble in various organic solvents such as benzene, chloroform, and others. Moreover, its non-toxicity, wear resistance, long durability, and superior performance are the important trends and factors influencing the market confidently. Therefore, they are used in various applications such as polyurethane foam, functional fluids, lubricants, personal care, pharmaceuticals, surface active agents, and others.
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.
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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.
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Key Players:
- 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)
- Huntsman International LLC (U.S.)
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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.
Recent Development
February 2021 : A team of researchers from the Florida State University has come up with a new technique of using a present in plants for the dev elopement of safer batteries. The team has made use of an organic polymer known as lignin, which is a compound that is found in the cell walls of various plants that renders them stiff, for creating battery electrolytes. The researchers have combined synthetic polymer polyethylene glycol with lignin to create the latest type of solid electrolyte.
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