Use of Polyalkylene Glycol for Cancer Drug Delivery and Diagnostics is Taking the Market to New Heights

Polyurethane (PU) soft foam, for example, is widely used in the manufacture of chairs, automobile cushions, and athletic equipment, among other things. In the Polyalkylene Glycol Market, on the other hand, PU hard foam for the construction of refrigerators and freezers is in high demand. Polyalkylene Glycol companies are expanding their capabilities to manufacture polypropylene (PP) foam in order to meet end-user needs in the aerospace & defense industries.

For its deep rooted vastness in the industries of personal care products, pharmaceuticals, military, and aerospace, polyalkylene glycol demand is expected to accelerate in the anticipated phase of 2022 to 2029. However, availability of number of substitues in the market that can be used in place of polyalakylene glycol. Some of the key substitutes include ethylene glycol, butylene glycol. These are expected to create a threat over the market.

According to Marketlook Consulting’s research report “Global Polyalkylene Glycol Market Analysis, 2022”, the Global Polyalkylene Glycol market is anticipated to grow at a CAGR of 5.7% during 2023-30 The market would reach USD 6.9 Bn by 2030.

Based on solubility, The use of the same as a lubricant is thriving in industrial applications, tunnel borings, and turbine lubricants. This factor is propelling the polyalkylene glycol market forward. Polyalkylene glycol's overall advantages, such as good water solubility, best as a lubricant, and FDA approval to use for food additives, are determining the growth parameters of the polyalkylene glycol market in the forecasted period.

Based on application, lubricants segment showcased commendable growth rate in 2021. The demand for food-grade industrial lubricants is anticipated to increase significantly in the food processing sector. This is mostly due to a shift in demand for automated factories and lubrication systems. Common uses for polyalkylene glycol include metalworking fluids, food-grade lubricants, quenchants, and lubricants for hydraulic and compressor equipment. It is projected that these factors will produce profitable opportunities for the global polyalkylene glycol market.

Moreover, the increasing applications of polyethylene glycols in targeted diagnostics and cancer drug delivery are expected to propel the growth of the global polyalkylene glycol market during the forecast period. Through direct therapeutic PEGylation or PEG-containing vehicles such as liposomes, micelles, nanoparticles, and dendrimers, research and development efforts on novel applications of PEG derivatives are mostly focused on drug delivery and targeted diagnostics. Rise in demand for polyalkylene glycol in the medical industry would foster the market growth.

“Global Polyalkylene Glycol Market Analysis, 2022” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Polyalkylene Glycol providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Asia Pacific Dominated the Market

Based on Leading regions, Asia Pacific dominated the global Polyalkylene Glycol market in 2022 and is projected to maintain its dominance during the forecasted period 2023-30 due to the Geographical analysis is an essential component of the report’s research and development study for market analysis. The regional extent section contains crucial insights into market sales growth at both regional and country levels. This market scope’s geographical spectrum analyses and investigates each regional spectrum of the Polyalkylene Glycol Market industry. Each of these major regions is analyzed based on manufacturing, supply, statistics, and import & export. Furthermore, the lubricant industry in Asia Pacific has been expanding at a rapid pace. China witnessed a high demand for lubricants, due to presence of major manufacturers of lubricants in the country. This further adds to the growth of this region in the global Polyalkylene Glycol industry as stated in Marketlook Consulting research report “Global Polyalkylene Glycol Market Analysis, 2022”.

According to Marketlook Consulting’, the key players with a considerable market share in the global Polyalkylene Glycol market are BASF, HUNTSMAN, DOW Chemicals, Clariant AG, Lanxess, Stepan Company, Croda International PLC, Zhengzhou Chorus Lubricant Additive Co., Ltd, Bayer AG, DuPont apart from others.

Market Segmentation:

1.By Product Polyethylene Glycol, Polypropylene Glycol, Others

2. By Application Lubricants, Functional fluids, Surfactants, Intermediates, Polyurethane Foam

3. By End Use Personal Care Products, Pharmaceuticals, Surface Active Agents, Military, Automotive, Aerospace Industry, Others

4. By Solubility Oil soluble, mineral soluble, water-soluble

3. By Region North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

6. By Company BASF, HUNTSMAN, DOW Chemicals, Clariant AG, Lanxess, Stepan Company, Croda International PLC, Zhengzhou Chorus Lubricant Additive Co., Ltd, Bayer AG, DuPont apart from others.

Key questions answered in the study:

1. What are the current and future trends of the Polyalkylene Glycol industry?
2. How the industry has been evolving in terms of consumer type demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Polyalkylene Glycol industry?
5. What is the customer orientation, purchase behaviour, and expectations from the Polyalkylene Glycol firms across various regions?