The total value of the polyethylene glycol market was about USD 4,534.8 million in 2021, and it will grow at a CAGR of 4.8% in the years to come for reaching a value of USD 6,909.6 million by 2030, as per a report by P&S Intelligence.
The opaque liquid had the largest share in the industry in the recent past, on the basis of form. This was mostly because of the high use of this form of polyethylene glycol in the pharma sector as a release agent and excipient for capsules.
Medical category had the largest share in the recent past, and it will grow at a rate of about 5% in the years to come. This has a lot to do with the use of PEG as a dispensing agent, solvent, and delivery liquid for medicines and ointments; filler for tablets, and suppository base in ophthalmic solutions and for the treatment of constipation.
Furthermore, the use of polyethylene glycol instead of MEG in the pharma industry will impact the industry positively.
North America had about 30% share in the past. The second-largest share of the region is majorly credited to the high production of crude oil.
As per the U.S. Energy Information Administration, the current production of crude oil is about 11 million barrels every day. Furthermore, the strong progress in the food and cosmetics & personal care sectors in the region is powering PEG use. The cosmetics & personal care business is growing because of customers’ increasing requirement for multifunctional personal care products, eventful lifestyles, and growing employed population.
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