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Polyglycol Dialkyl Ethers Market Size Forecast to Reach $5 Billion by 2025

Polyglycol Dialkyl Ethers Market size is forecast to reach $5 billion by 2025, after growing at a CAGR of 5% during 2020-2025. Polyglycol dialkyl ether is used as an inert solvent and plasticizer for adhesives formulations. Surging demand for industrial lubricant, flourishing automotive industry, and exceptional properties of polyglycol dialkyl ethers such as high viscosity indices and solubility in water and organic solvents are the major factors driving the growth of the polyglycol dialkyl ethers market share. Increasing use of polyglycol dialkyl ether in the production of paint and dyes also fuels the growth of the Polyglycol Dialkyl Ethers market size.

Polyglycol Dialkyl Ethers Market Segment Analysis – By Type

Polyethylene glycol dialkyl ether holoda the largest share of more than 45% in 2019 and is the fastest growing segment in the polyglycol dialkyl ether market with a CAGR of 7% during the forecast period. Polyethylene glycol dialkyl ether is a synthetic, hydrophilic, biocompatible polymer with widespread use in biomedical and other applications. They are also used in formulation of cosmetics, inks, dyes and water-based paints. Surging demand for paint and adhesives from automotive and construction industries is likely to aid the growth of the polyethylene glycol dialkyl ether market.

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Polyglycol Dialkyl Ethers Market Segment Analysis – By Packaging

Based on the packaging, plastic drum segment holds the largest share of more than 35% in the polyglycol dialkyl ether market in 2019. Polyglycol dialkyl ether exists in liquid form. Transportation of large amount of polyglycol dialkyl ether in glass bottle is very difficult. Due to the fragility of glass bottles, storage and transportation of polyglycol dialkyl ethers in plastic drums are mainly preferred. In addition, cost effectiveness, and ability to protect the polyglycol dialkyl ether from external damage is raising the demand for plastic drum packaging.

Polyglycol Dialkyl Ethers Market Segment Analysis – By Application

Pharmaceutical segment is projected to grow with a CAGR of 6% in the polyglycol dialkyl ether market in 2019. Polyglycol dialkyl ether is an excellent solvent for a large number of substances that do not readily dissolve in water. They are therefore widely used in pharmaceuticals industries as solvents and solubilizing agent for active substances and excipients in liquid and semi-solid preparations. Accelerating use of polyglycol dialkyl ether to adjust the viscosity of liquid pharmaceutical preparations and ointments to modify their absorption properties and to stabilize the preparation is boosting the growth of the market. According to World Health Organisation, health sector continues to expand faster than the economy and in between 2000 to 2017, global health spending in real terms grew by 3.9% a year. Thus, huge spending of government on healthcare drives the pharmaceutical sector owing the need for polyglycol dialkyl ether.

Polyglycol Dialkyl Ethers Market Segment Analysis – By End Use

Based on the end use, paint and coating segment holds the largest share of more than 25% in the polyglycol dialkyl ether market in 2019. Polyglycol dialkyl ether is used as a solvent in the preparation of paint and dyes. Construction sector is one of the major markets for paint and dyes. Increase in construction activities across the globe raises the demand for paint and dyes, which in turn boosted the growth of the polyglycol dialkyl ether market. According to the International Energy Agency (IEA), global floor area in buildings are expected to double to more than 415 billion square meters by 2050. Thus, flourishing construction augments the use of polyglycol dialkyl ether market for paint and pigments formulation.

Coronavirus pandemic has brought widespread economic disruption. The outbreak of coronavirus has postponed deliveries of polyglycol dialkyl ether and other equipment from yards, due to the shortages of staff or supplies. Industries are shuttered and the lack of manpower has led many manufacturing companies to stop their production. Decrease in purchasing capital has directly impacted the construction, automotive, and textile industries subsequently affecting the growth of the polyglycol dialkyl ether market.

Polyglycol Dialkyl Ethers Market Segment Analysis – Geography

Asia Pacific is projected to witness the highest CAGR of 7.5% in the polyglycol dialkyl ether market during the forecast period. The rapid industrial expansion and growing population along with changing lifestyle escalated the growth of polyglycol dialkyl ether in APAC region. The growing textile industry in the developing country like China and India is also contributing to the market growth as, polyglycol dialkyl ethers are extensively used as lubricants, softeners, conditioning agents, and antistatic agents for processing as well as finishing aids for textiles. According to Indian Brand Equity Foundation (IBEF), Indian textiles industry was estimated at around US$ 108 billion in 2017 and expected to reach US$ 223 billion by 2021, subsequently raising the demand of polyglycol dialkyl ether for textile processing.

Polyglycol dialkyl ether Market Drivers

Surging demand from construction and automotive industries

Polyglycol dialkyl ethers are widely used as a solvent in formulation of inks, adhesives, and sealants. Surging use of adhesives and sealants for blocking the passage of water and air in building is augmenting the demand for polyglycol dialkyl ether. According to the Institution of Civil Engineers (ICE), global construction output will grow by 85% to $15.5 trillion by 2030, with China, the US, and India accounting for almost 57% of all global growth. Whereas, in the automotive industry, sealants and adhesives are not only used in strengthening mechanical joints but also used for tightening or sealing gaskets and fasteners. Increase in construction activities and demand for electric vehicles is escalating the use of paint, adhesives, and sealants, which in turn boosts the growth of polyglycol dialkyl ether market.

Changing lifestyle and use of polyglycol dialkyl ether in beauty care products

The rise in disposable income of middle class and growing aspirations of people to live a good life and look good has fueled the demand for cosmetic products. Polyglycol dialkyl ether is a common ingredient in many cosmetics and beauty products. They are used in cosmetics as thickeners, solvents, softeners, and moisture-carriers. According to the Indian Brand Equity Foundation (IBEF), India’s beauty, cosmetic and grooming market was valued at $ 6.5 billion in 2016 and estimated to reach $ 20 billion by 2025. Polyglycol dialkyl ether easily mixes with water and many organic compounds, and makes an effective solvent for use in lacquers, varnish, and deodorants.

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Polyglycol Dialkyl Ether Market Challenges

Harmful effects and volatile raw material prices

Polyethylene glycols are petroleum-based compounds. Thus, volatility in the oil price has major impact on the growth of the market. Furthermore, based on the manufacturing processes, polyethylene glycol may be contaminated with measurable amounts of ethylene oxide and 1,4-dioxane. The International Agency for Research on Cancer classifies ethylene oxide as a known human carcinogen and 1,4-dioxane as a possible human carcinogen. Long term exposure to ethylene oxide may cause serious health problems including irritation of the eyes, skin, nose, throat, and lungs, and damage to the brain and nervous system.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the polyglycol dialkyl ether market report. In 2019, the market of polyglycol dialkyl ether has been consolidated by the top 10 companies accounting for xx% of the share. Major players in the polyglycol dialkyl ether market are Clariant AG, Ineos Group, BASF SE, DOW Chemical Company, Croda International PLC., Idemitsu Kosan Co. LTD., Huntsman International LLC, Akzonobel N.V., PAN Asia Chemical Corporation, and Exxon Mobil, among others.

Acquisitions/Technology Launches

In March 2020, ANI Pharmaceuticals, Inc. has launched a new drug, Polyethylene Glycol 3350 which is used for the treatment of occasional constipation. This launch represents ANI’s fourth new drug introduction in 2020.

Key Takeaways

U.S has shown significant growth during the forecast period in polyglycol dialkyl ether market due to established pharmaceuticals sector across the country.

The outbreak of coronavirus has hampered the growth of polyglycol dialkyl ether market due to travel ban and shuttering of manufacturing units.

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B. Lubricating Oil Additives Market

https://www.industryarc.com/Research/Lubricating-Oil-Additives-Market-Research-500032

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Contact Information:

Venkat Reddy
Sales Director
Email: [email protected]
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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