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Polyethylene Glycol Market to see robust growth from construction sector

Author : Ravi Chawat | Published Date : 2020-08-20 

The global polyethylene glycol market is poised to witness tremendous growth over the forthcoming years due to the growing demand for the material from the construction and healthcare industries. Polyethylene glycol, also referred to as PEG, is a type of synthetic polymer that is produced through the polymerization process of ethylene oxide molecules, which makes ethylene glycol joining units by ether linkage.

Polyethylene glycols are also water-soluble polymers which can form strong hydrogen bonds that are in a ratio of approximately 100 water molecules per polyethylene glycol molecule.

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PEGs have numerous applications across a plethora of fields, including the high-revenue medical and industrial sectors. The substance also has a long history of use in gastroenterology. In fact, PEG 3350 is commonly used as an over-the-counter laxative that helps relieve occasional constipation. Additionally, PEG 3350 also finds extensive use for cleansing the colon of an adult patient in preparation for a colonoscopy.

The overall demand for the use of PEG in the field of gastroenterology is owing to the compound's physical properties. The compound's negligible intestinal absorption, strong, effective water-binding capacity with an increasing molecular mass, its lack of substantial toxicity, aa well as its limited bacterial metabolism or intestinal enzymatic degradation all make it a useful therapeutic agent in the industry.

The overall polyethylene glycol market is bifurcated into segments based on application, and regional landscape.

Based on application, the market is bifurcated into medical & pharmaceutical, automotive, building & construction, plastics, aerospace, and others. Among these, the Medical & pharmaceutical accounted for around 40% product demand in 2019 and expected to grow with a CAGR 10% through the forecast timespan. Superior hygroscopicity, blending, as well as non-toxic properties of polyethylene glycol have created high consumer demand for the compound across a plethora of pharmaceutical products like ointments, and tablets. Additionally, rising pharmaceutical expenditure, especially in emerging economies of China, India, and Brazil, are slated to boost growth of PEG market over the forecast period.

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increasing construction expenditure in Asia Pacific and Middle East is anticipated to boost the product demand over the forecast period and drive growth of the building & construction segment. The others segment is also poised to register remunerative growth. Polyethylene glycol is considered a hydrophilic molecule, and has been used extensively to passivate the microscope glass slides to avoid non-specific sticking of the proteins in studies of single-molecule fluorescence. PEG is also under investigation for use in body armor and in tattoos to monitor diabetes.

From a regional reference frame, presence of major product manufacturers in the European region expected to fuel the Europe polyethylene glycol market growth in coming years. The Latin America polyethylene glycol market is also slated to bring in revenues from its growing healthcare expenditure after the outbreak of COVID-19. factor driver is projected to drive the product demand in medical & pharmaceutical industry over the forecast period.

Browse More News:

https://www.globenewswire.com/news-release/2017/07/03/1037421/0/en/Acetic-Acid-Market-to-surpass-16bn-by-2024-Global-Market-Insights-Inc.html

https://www.prnewswire.com/news-releases/biopesticides-market-slated-to-surpass-3-3-billion-valuation-by-2026--says-global-market-insights-inc-301051558.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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