Global Polyalkylene Glycol (PAG) Market is Anticipated to Reach US$ 16.96 Bn by 2022: Transparency Market Research
Transparency Market Research has published a new report titled “Polyalkylene Glycol (Polyethylene Glycol (PEG), Polypropylene Glycol (PPG), and Others) Market for Polyurethane (PU) Foam, Functional Fluids, Lubricants, Personal Care, Pharmaceutical, Surface Active Agents, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 – 2023.” According to the report, the global PAG market was valued at US$ 7.49 Bn in 2014 and is expected to reach US$ 16.96 Bn by 2023, expanding at a CAGR of 11.0% during the forecast period between 2015 and 2023. In terms of volume, the global PAG market stood at 6,522.8 kilo tons in 2014.
Browse the full Polyalkylene Glycol (PAG) Market Report: http://www.transparencymarketresearch.com/polyalkylene-glycol-market.html
Increasing global demand from polyurethane (PU) foam applications, especially in China, India, Taiwan, Brazil, South Africa, Qatar, and the U.S., is anticipated to drive the global demand for PAG. Additionally, rising consumption of synthetic lubricants and functional fluids including PAG-based products due to their superior performance in extreme conditions is expected to fuel the growth of PAG market during the forecast period. However, factors such as volatility in crude oil prices and availability of low cost PAG alternatives such as conventional oils for lubricant applications might restrain the growth of the PAG market.The key opportunities for the growth of PAGmarket areprojected to arise from high-value personal care, and pharmaceutical applications.
Asia Pacificemerged as the dominant consumer for PAGat more than 45% of the market share in 2014.Latin Americais estimated to be the fastest growing region between 2015 and 2023due to increasing demand from end-use applications in the region. Growth in the construction and automotive industries in Latin America is anticipated to result in increasing demand of PU foam and lubricant applications of PAG. The Middle East and Africa (MEA), and North America are the other fast growing regions on account of the rising demand for rapid growth in the construction and pharmaceutical industries.
Most large scale PAG manufacturers are captive consumers of their PAG produce for the manufacturing of PU foam, lubricants, functional fluids, surface active agents, and other chemicals. These players also produce the key petrochemical feedstock required for manufacturing PAG. This ensures the constant availability of raw materials as well as significant cost advantage for integrated PAG producers such as The Dow Chemical Company, BASF SE, Royal Dutch Shell Plc, and INEOS Group AG. Additionally, most multinational companies in the market prefer to have a local supply of the raw material feedstock as it is very costly and unsafe to ship feedstock from long distances. Market players in North America have the advantage of lower energy prices due to the availability of low cost natural gas on account of the shale gas revolution. In Asia, especially China and India, manufacturers have the advantage of inexpensive land and labor for the facilities.
Browse the full Press Release Polyalkylene Glycol (PAG) Market Report: http://www.transparencymarketresearch.com/pressrelease/polyalkylene-glycol-market.htm
The global PAG market is fragmentedwith few globalcompaniesand severalsmaller domestic companies. Some key players in the global PAG market include the Dow Chemical Company (Dow), Bayer AG, BASF SE, Royal Dutch Shell plc (Shell), LyondellBasellIndustries N.V., E. I. du Pont de Nemours and Company (DuPont), INEOS Group AG, Clariant International Ltd., Saudi Basic Industries Corporation (SABIC), and Repsol Group..
The report segments the global PAG market as:
· Polyalkylene Glycol (PAG) Market – Product Segment Analysis
o Polyethylene Glycol (PEG)
o Polypropylene Glycol (PPG)
o Others (Including higher adducts, copolymers, etc.)
· Polyalkylene Glycol (PAG) Market – Application Analysis
o Polyurethane (PU) Foam
o Functional Fluids
o Personal Care
o Surface Active Agents
o Others (Including chemical intermediates, CASE, additives, etc.)
· Polyalkylene Glycol (PAG) Market – Regional Analysis
o North America
o Rest of North America
o Rest of Europe
o Asia Pacific
o Rest of Asia Pacific
o Latin America
o Rest of Latin America
o Middle East and Africa (MEA)
o South Africa
o Rest of MEA
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