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Pharmaceutical Grade Polyethylene Glycol (PEG) Market

Published Date : Jul 2024 | Forecast Year : 2019

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Pharmaceutical Grade Polyethylene Glycol (PEG) Market Size, Analysis, By Grade (PEG 200, PEG 300,10000, and PEG 20000), Form (Opaque Liquid, White Waxy Solid, Powder), Packaging Size (Plastic Bottles and Drums), Application (Healthcare, Building and Construction, Industrial), Trends Regional Outlook, and Forecast 2024-2032

Report ID: AG980

Published : Jul 2024

Pages : 126

Category : Chemical & Material

Format : Pharmaceutical Grade Polyethylene Glycol (PEG) Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 1,731.70 Million
MARKET SIZE (2024)USD 1,166.69 Million
CAGR (2023-2029)5.80 %
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPEOpaque Liquid
White Waxy Solid
and Flakes/ Powder
BY APPLICATIONHealthcare
Building and Construction
Industrial
Cosmetics/Personal Care
and Others
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSSABIC, Dow, BASF SE, Merck KGaA, INEOS, Croda International Plc, Clariant, India Glycols Limited, Pro Chem, Inc., GFS Chemicals, Inc, Liaoning Oxiranchem Inc., Liaoning Kelong Fine Chemical Co., Ltd., LOTTE Chemical Corporation, Hefei TNJ Chemical Industry Co., Ltd., Noah Chemicals, and Mil-Spec Industries Corporation among others .

The Global Pharmaceutical Grade Polyethylene Glycol (PEG) Market size was estimated to be valued at USD 1,166.69 Million in 2023 and is expected to reach at USD 1,731.70 Million by 2032, exhibiting at a CAGR of 5.80 % during the forecast period. This report provides a deep insight into the Pharmaceutical Grade Polyethylene Glycol (PEG) Market covering all its essential aspects. This ranges from a macro-overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. 

Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Pharmaceutical Grade Polyethylene Glycol (PEG) Market

Size, by Product, - (USD Billion)

Opaque Liquid

Flakes/ Powder

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

5.80 %

The Forecast Market

Size for in USD:

$1,731.70 Million B

b0d51e3055fd6f23ff6a384a6e091406.svg

Pharmaceutical Grade Polyethylene Glycol (PEG) Market Segments

By Grade- PEG 200, PEG 300, PEG 400, PEG 600, PEG 1000, PEG 3350, PEG 4000, PEG 6000, PEG 8000, PEG 10000, and PEG 20000

By Form- Opaque Liquid, White Waxy Solid, and Flakes/ Powder 

By Packaging Size- Plastic Bottles and Drums

By Application- Healthcare, Building and Construction, Industrial, Cosmetics/Personal Care, and Others

Key Profiles:

SABIC, Dow, BASF SE, Merck KGaA, INEOS, Croda International Plc, Clariant, India Glycols Limited, Pro Chem, Inc., GFS Chemicals, Inc, Liaoning Oxiranchem Inc., Liaoning Kelong Fine Chemical Co., Ltd., LOTTE Chemical Corporation, Hefei TNJ Chemical Industry Co., Ltd., Noah Chemicals, and Mil-Spec Industries Corporation among others 

Regional Analysis

  • North America: Large economies like the United States and Canada are covered in this region.
  • Europe: The European market includes countries such as Germany, UK, France, Italy, Russia, and others.
  • Asia-Pacific: This region includes major economies like China, Japan, India, South Korea, Australia, and others.
  • Latin America: Countries like Brazil, Argentina, Mexico and others are part of this region.
  • Middle East and Africa: This region comprises economies from North Africa, GCC countries, South Africa and others.
  • Eastern Europe: This region includes countries such as Poland, Russia, Ukraine and others.

These geographic markets are analysed in terms of the current scenario, growth outlook, and potential opportunities. The research is conducted by considering various aspects such as economic conditions, government policies, industrial development, competitive landscape, and consumer behaviour in these regions.

Market Overview:

  • The pharmaceutical grade polyethylene glycol (PEG) market is growing significantly due to its wide range of applications in the pharmaceutical and healthcare industries. 
  • PEG is a versatile polymer used as a solvent, binder, plasticizer and filler in various pharmaceutical formulations, including tablets, capsules, creams and injections. Its properties such as water solubility, low toxicity, and ability to improve drug solubility and stability make it an important ingredient in drug delivery systems. 
  • Increasing prevalence of chronic diseases, growing demand for biologics and biosimilars, and advancement in drug manufacturing technologies are the major drivers for the market growth. 
  • Additionally, the expansion of the pharmaceutical industry in emerging markets and continued research into new therapeutic applications for PEG will strengthen its market prospects. Regulatory support and the trend towards personalized medicine also contribute to the positive outlook for PEG in the pharmaceutical market. 

Market Key Drivers:

  • The increase in chronic diseases such as cancer, diabetes and cardiovascular diseases increases the demand for effective drugs, many of which use pharmaceutical grade PEG as an excipient.
  • Innovations in drug delivery techniques, including sustained and controlled release formulations, liposomes and nanoparticles, rely on PEG for its solubility and biocompatibility.
  • The growing market for biologics and biosimilars, which require special excipients such as PEG to improve stability and delivery, is significantly increasing the demand for pharmaceutical PEG.
  • Favorable regulatory frameworks and guidelines supporting the use of PEG in pharmaceuticals will drive its adoption and market growth.
  • The rapid growth of the pharmaceutical industry in emerging markets, coupled with greater access to healthcare and investment, creates significant opportunities for pharmaceutical grade PEG.
  • The trend towards personalized medicine and personalized drug formulations requires versatile excipients such as PEG, which can be tailored to the dosage requirements of specific drugs.

    Pharmaceutical Grade Polyethylene Glycol (PEG) Market

    Share, by end user, (USD Billion)

    Analytica Global 1,166.69 Million %

    Healthcare

    Building and Construction

    Industrial

    Cosmetics/Personal Care

    Other End-Users

    b0d51e3055fd6f23ff6a384a6e091406.svg

    1,731.70 Million

    Total Market Size

    USD (Billion),

    5.80 %

    CAGR

    -

PEG 400 is the highest revenue generator in the Market:

  • PEG 400 is widely used as a solvent in industrial applications, especially in the manufacture of various products such as adhesives, coatings and lubricants. Its ability to dissolve various substances makes it indispensable in these industries.
  • In the pharmaceutical industry, PEG 400 acts as an excipient and solvent in pharmaceutical formulations, especially oral and topical formulations. It improves the solubility of poorly water-soluble drugs and improves their bioavailability.
  • PEG 400 is used as a humectant and emulsifier in cosmetics and personal care products. It helps stabilize formulations and improve the distribution of products such as lotions and creams.
  • PEG 400 is approved as a food additive and is used as a wetting agent and solvent in the food and beverage industry. It plays a role in maintaining food moisture and in the composition of flavors and food colors.
  • It is used in various chemical processes, including as a reaction medium and as a component in polymer synthesis. Its chemical inertness and compatibility with other substances make it valuable in these applications.
  • PEG 400 is used in industrial cleaning products due to its solubilizing properties that help effectively remove grease, oils and other contaminants.
  • PEG 400 can be used in the textile industry as a lubricant and softener that improves the processing of fibers and fabrics. 

Usage of PEG Technology in Biotechnological and Pharmaceutical Applications

Biotechnological Applications

  1. Protein Therapeutics: PEGylation is used to modify protein-based drugs, increasing their stability, solubility, and half-life. This reduces the frequency of dosing and improves patient compliance.
  2. Examples: PEGylated interferons for hepatitis C treatment and PEGylated granulocyte colony-stimulating factors (G-CSF) for neutropenia.
  3. Enzyme Replacement Therapies: PEGylated enzymes are used in treatments for various metabolic disorders, as PEGylation protects enzymes from degradation and extends their circulation time.
  4. Examples: PEGylated asparaginase for acute lymphoblastic leukaemia and PEGylated uricase for gout.
  5. Antibodies and Antibody Fragments: PEGylation enhances the therapeutic properties of antibodies and their fragments by improving their pharmacokinetics and reducing immunogenicity.
  6. Examples: PEGylated Fab fragments used in various cancer treatments.
  7. Pharmaceutical Applications
  8. Drug Delivery Systems: PEGylation is utilized in the development of advanced drug delivery systems, including liposomes, nanoparticles, and micelles, to enhance drug solubility, stability, and controlled release.
  9. Examples: PEGylated liposomal doxorubicin for cancer therapy.
  10. Small Molecule Drugs: PEGylation can improve the solubility and bioavailability of small molecule drugs, enabling more effective treatments with fewer side effect
  11. Examples: PEGylated small molecule drugs used in anti-inflammatory and analgesic therapies.
  12. Oligonucleotides and RNA-based Therapies: PEGylation enhances the stability and delivery of oligonucleotides and RNA-based drugs, protecting them from nuclease degradation and improving their therapeutic potential.
  13. Examples: PEGylated siRNA and antisense oligonucleotides for genetic disorders and cancer.

    Pharmaceutical Grade Polyethylene Glycol (PEG) Market

    Size, by Product, - (USD Billion)

    NORTH AMERICA $ 24

    The Market will Grow

    At the CAGR of:

    5.80 %

    The Forecast Market

    Size for in USD:

    $1,731.70 Million B

    b0d51e3055fd6f23ff6a384a6e091406.svg

Key Development Factors:

  • In 2022, Technological Advancements: Advances in drug formulation technologies and the development of novel PEGylated drugs contributed to market growth.
  • Expansion in Emerging Markets: The pharmaceutical industry’s expansion in emerging markets, particularly in Asia-Pacific and Latin America, significantly boosted the demand for pharmaceutical grade PEG.
  • Strategic Collaborations: Key players engaged in strategic collaborations and partnerships to enhance their product portfolios and expand their market presence.
  • In 2023, Innovation in Drug Delivery: Continued innovation in drug delivery systems, such as targeted therapies and controlled release formulations, increased the utilization of PEG.
  • Regulatory Developments: Evolving regulatory frameworks facilitated the approval and use of PEG in new therapeutic applications, supporting market expansion.
  • Personalized Medicine: The trend towards personalized medicine and precision drug formulations further elevated the importance of PEG as a versatile excipient.
  • In 2024 (Forecast), Sustained Growth: The market is expected to sustain its growth trajectory, driven by ongoing advancements in pharmaceutical technologies and increasing healthcare needs globally.
  • Focus on Efficiency and Sustainability: Emphasis on improving production efficiency and sustainability practices will continue to shape market strategies.
  • Emerging Applications: Exploration of new therapeutic applications and innovative drug delivery systems will likely create additional opportunities for pharmaceutical grade PEG.
  • Overall, the pharmaceutical grade PEG market has shown resilience and adaptability, recovering from the pandemic's impacts and continuing to grow due to its critical role in modern drug formulations and delivery systems. Advances in technology, regulatory support, and the expansion of the pharmaceutical industry in emerging markets are expected to drive further development and innovation in the coming.

    Pharmaceutical Grade Polyethylene Glycol (PEG) Market TO (USD BN)

    Pharmaceutical Grade Polyethylene Glycol (PEG) Market

    CAGR OF

    5.80 %

    Pharmaceutical Grade Polyethylene Glycol (PEG) Market

    b0d51e3055fd6f23ff6a384a6e091406.svg
    Analytica Global 1,731.70 Million %

Restraints Factors:

  • The production of high purity pharmaceutical PEG involves complex processes and strict quality control, resulting in higher cost of production, which may affect the market growth.
  • Navigating a complex regulatory environment and meeting strict quality and safety standards presents challenges for manufacturers and can delay product approval and time-to-market.
  • The availability of alternative excipients and polymers that offer similar functionality at lower costs may limit the market share of pharmaceutical grade PEG.
  • Supply chain disruptions, such as during the COVID-19 pandemic, may affect the availability of raw materials and the production and distribution of PEG.
  • The production and disposal of PEG creates environmental issues resulting in increased scrutiny and potential regulatory restrictions that may affect market growth.
  • Although PEG has many beneficial properties, it may not be suitable for all drugs, and its limitations in certain applications may limit its wider adoption.

Pharmaceutical Grade Polyethylene Glycol (PEG) Market Conclusions:

In summary, the pharmaceutical grade polyethylene glycol (PEG) market is characterized by growing demand driven by biologics, advanced drug delivery systems, and personalized medicine. Despite challenges like high production costs and regulatory complexities, ongoing technological advancements and favourable regulatory support are fueling market expansion. The future outlook remains positive, with PEG continuing to play a critical role in enhancing drug stability and bioavailability, thereby supporting innovation and growth in the pharmaceutical industry. 

Pharmaceutical Grade Polyethylene Glycol (PEG) Market - Global Outlook & Forecast 2024-2029

Analytica Global
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Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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