According to a new report, published by KBV research, The Global Polyethylene Glycol Market size is expected to reach $7 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,519.22 Kilo tonnes, experiencing a growth of 3.2% (2019-2022).
The growing emphasis on sustainability has spurred innovations in the production processes of polyethylene glycol. Manufacturers are exploring greener and more eco-friendly methods, such as enzymatic synthesis or renewable feedstocks, to reduce the environmental footprint of PEG production. These sustainable practices align with the global push towards eco-conscious manufacturing and resonate with consumers seeking environmentally friendly products.
The Industrial segment is experiencing a CAGR of 6.2% during (2023 - 2030). PEG is crucial in various industrial applications, including as a lubricant, solvent, and dispersant. It finds applications in producing plastics, resins, and other chemical products. PEG is often used as a processing aid in manufacturing and a key ingredient in producing various industrial products. Therefore, these factors can lead to enhanced growth in the segment.
Full Report: https://www.kbvresearch.com/polyethylene-glycol-market/
The Asia Pacific region dominated the Global Polyethylene Glycol Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,419.6 million by 2030. The North America region is anticipating a CAGR of 5.4% during (2023 - 2030). Additionally, The Europe region would exhibit a CAGR of 5.5% during (2023 - 2030).
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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