GVR Report cover Polyethylene Glycol Market Size, Share & Trends Report

Polyethylene Glycol Market Size, Share & Trends Analysis Report By Application (Medical, Personal Care, Industrial, Others), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-353-9
  • Number of Pages: 120
  • Format: Electronic (PDF)

Polyethylene Glycol Market Size & Trends

The global polyethylene glycol market size was valued at USD 4,678.7 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. The rising importance of material properties such as non-toxicity, wear resistance, and solubility in organic solvents is a significant factor driving the market. The emergence of polyethylene glycol (PEG) as a lubricating solution in the pharmaceutical industry on account of it exhibiting the aforementioned properties is expected to have a positive impact on the market.

U.S. polyethylene glycol market size and growth rate, 2023 - 2030

Pharmaceutical industry growth in emerging markets including China, India, and Brazil coupled with increased expenditure on technology advancement is expected to drive PEG market. The rising popularity of water-based coatings, paints, and inks on account of increased application scope in construction and automotive industries is expected to augment PEG market demand over the forecast period.

PEG is also used as a color stabilizer in the production of paper and ceramic. Paper industry growth in China and India on account of surging domestic demand is expected to promote PEG demand. Automotive, construction and household industries are key consumers of ceramic tiles, and the growth in these industries are expected to augment PEG demand over the next six years. The market presence of substitutes such as MEG and other glycol ethers is expected to pose a credible threat and negatively impact the market over the forecast period.

Technological advancement in hydraulic fracturing has resulted in increasing the production of unconventional resources such as shale gas and tight oil, which is likely to increase the availability of petrochemicals, meant for PEG production and is expected to open new market avenues. Acme-Hardesty developed bio-based PEG produced from sugarcane which is expected to be utilized as a sustainable solution and would open new opportunities for PEG over the forecast period.

Application Insights

Medical application dominated the market with a revenue share of more than 40% in 2022. This is attributed to its wide application in dispensing agents, solvents, delivery liquids for medications, ointments, fillers for tablets & suppository bases in ophthalmic solutions, and treating constipation. The emergence of PEG as an alternative to MEG (mono-ethylene glycol) in the pharmaceutical industry on account of its non-toxic nature is expected to have a positive impact on the market.

PEG is also used as a binder for technical ceramics production and as a gas insulator for inducing superconductivity in an electric-double layer transistor. PEGs are also extensively used as thickeners, moisture-carriers, softeners and solvents in cosmetics. However, health and environmental hazards associated with the addition of PEG to personal care products are expected to hamper market growth.

Regional Insights

Asia Pacific region dominated the market with a revenue share of more than 48% in 2022. This is attributed to the industrial growth of the pharmaceutical, automotive, and construction sectors in India and China.

Global polyethylene glycol market share and size, 2022

North America is expected to witness growth on account of the dominance of the U.S. in the global pharmaceutical industry coupled with growing automotive production in Mexico. The European Commission has framed supportive policies meant at promoting the biopolymer industry. As a result, chemical manufacturers are anticipated to focus on developing bio-based PEG, which is likely to open new market opportunities. Positive downstream oil & gas industry outlook in the Middle East and Brazil is expected to ensure raw material availability for PEG production over the forecast period.

Key Companies & Market Share Insights

The global market is highly fragmented on account of the high penetration of companies across the world. Raw material availability of ethylene oxide on account of its increased demand for the production of MEG, which is further processed to manufacture PET, is expected to be a paramount concern for manufacturers. Key market players in the global polyethylene glycol market include:

  • BASF

  • Dow Chemical Company


  • Ineos

  • Croda

  • Liaoning Oxiranchem

  • Liaoning Kelong

  • Jiangsu Haian Petrochemical Plant

  • Shanghai Bronkow Chemical

  • Taijie Chemical

  • Huangma Chemical

  • India Glycols

Polyethylene Glycol Market Report Scope

Report Attribute


Market size value in 2023

USD 4949.1 million

Revenue forecast in 2030

USD 7,482.4 million

Growth rate

CAGR of 6.0% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

April 2023

Quantitative units

Revenue in USD million, volume in kilotons, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; Brazil; Saudi Arabia

Key companies profiled

BASF; Dow Chemical Company; LOTTE CHEMICAL; Ineos; Croda; Liaoning Oxiranchem; Liaoning Kelong; Jiangsu Haian Petrochemical Plant; Shanghai Bronkow Chemical; Taijie Chemical; Huangma Chemical; India Glycols.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Polyethylene Glycol Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global polyethylene glycol market report based on application, and region:

Global Polyethylene Glycol Market Report Segmentation

  • Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

    • Medical

    • Personal Care

    • Industrial

    • Others

  • Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.