Polyalkylene Glycol Market to amass optimum gains via PU foam applications over 2017-2024, APAC to majorly influence the regional share
Publisher : Fractovia | Published Date : 2017-07-28Request Sample
Mergers & acquisitions, having been the key growth strategy of myriad businesses, have also impacted the growth chart of Polyalkylene glycol market. An instance supporting this fact is the recent merger between Huntsman Corporation, a reputed chemical manufacturing firm based in the U.S., and Clariant, a Swiss-based specialty chemicals company. The new venture is expected to be named as HuntsmanClariant firm, with sale worth nearly USD 13.2 billion. It is forecast to generate a valuation of more than USD 3.5 billion over time via less operating costs and effective product procurement facility. Such mergers are more likely to influence the current & ongoing trends of the business through continuous product as well as technological innovations.
Polyalkylene glycol is basically a polyether compound that is extensively used in lubricants, surface active agents, polyurethane (PU) foam, personal care items, and pharmaceuticals. Growing demand for PU foams across furniture, footwear, automobiles, adhesives, and electronics sectors is projected to affect the expansion of polyalkylene glycol industry size from the polyurethane (PU) foam segment over the coming years, having attained a revenue of more than USD 3 billion in 2016. High sales of PU foams in the escalating construction sector, which is forecast to hit a revenue of USD 15 trillion by 2024, will further boost the product demand.
U.S. Polyalkylene Glycol Market Size, By Application, 2013 - 2024 (USD Million)
Personal care has proved to be one of the major revenue-generating sectors for polyalkylene glycol industry with the rising product usage in the manufacture of hair care items, shampoos, toothpaste, detergents, skin care items, and bath oils. Mounting awareness about sanitation and health among the consumers coupled with increase in their per capita incomes will further spur the product demand.
Rising demand for lubricants across the automotive sector with the enhanced use of formulated engine oils in vehicles will favorably leverage the business development. Ability of the lubricants to improve the performance and service life of the vehicles will further accelerate the industry growth. Global Market Insights, Inc., claims polyalkylene glycol industry to grow at a rate of 11%, having attained a revenue of over USD 8 billion in 2016.
Polyalkylene glycol market has laid firm foundations across different topographies. For instance, Asia Pacific, which contributed nearly USD 3 billion towards global polyalkylene glycol industry revenue in 2016, is expected to make significant contributions toward the overall industry size over the next few years. Escalating product sales across pharmaceuticals, construction, and vehicle sectors will boost the regional revenue. India and China with rising population along with increase in the spending capacity are the key growth drivers.
North America polyalkylene glycol industry is projected to record a CAGR of over 11% over the years ahead, subject to high demand for lubricants and PU foams across various sectors. The large presence of established players across the pharmaceuticals sector in the countries such as the U.S. will further augment the regional business scope.
Polypropylene glycol (PPG) and polyethylene glycol (PEG) constitute the product landscape of polyalkylene glycol market. Polypropylene glycol (PPG), which dominated the product landscape in 2016, is expected to boost the overall polyalkylene glycol industry revenue in the near future. Escalating use of PPG in manufacturing various types of PU foams such as flexible, rigid, and spray is expected to augment the industry size. Mounting product popularity across the automotive and aviation sectors can be credited to its growing usage as a lubricant in vehicles & aircrafts. Polyethylene glycol (PEG) is forecast to witness a robust growth over the next few years with major applications in the pharmaceuticals, chemical, plastics, and personal care sectors.
Manufacturers are making heavy investments in research & development activities to develop innovative products and thus acquire a competitive edge in polyalkylene glycol market. In 2016, polyalkylene glycol industry was highly consolidated with only three firms contributing to more than 50% of the total market share.
Oscillating petrochemical costs are expected to impede the expansion of polyalkylene glycol industry. The firms strive to pour in massive capital in and contribute toward the growth of polyalkylene glycol market via extensive product applications across the personal care and pharmaceuticals sectors.
Major players in polyalkylene glycol market include The Dow Chemical Company, Saudi Basic Industries Corporation (SABIC), BASF SE, Bayer AG, Exxon Mobil Corporation, Ineos Group AG, LyondellBasell Industries N.V., Royal Dutch Shell plc, Clariant International AG, E. I. du Pont de Nemours and Company, Repsol S.A., Huntsman International LLC, Croda International PLC, Akzo Nobel N.V., and Idemitsu Kosan Company Limited.
