Global polyethylene glycol (PEG)market is expected to reach USD 1.68 billion by 2020, according to a new study by Grand View Research, Inc. Increasing use of PEG as a solvent in the manufacturing of laxatives and eye drops coupled with the growth of pharmaceutical industry is anticipated to drive market. Evolution of waterborne coating and paint in automotive and construction industries owing to growing demand for eco-friendly products is expected to augment PEG market growth.
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Medical was the largest application for PEG, accounting for more than 40% of market share in 2013. Superior blending, hygroscopicity and non-toxic properties of PEG have resulted in high demand for the chemical in numerous pharmaceutical products such as tablets and ointments. Increasing pharmaceutical expenditure, particularly in emerging economies of India, China and Brazil, is expected to boost PEG market over the forecast period. Growing demand for paints & coatings coupled with increasing use of PEG as solvent due to its low VOC emissions is anticipated to fuel market growth over the next six years.
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
For more information, visit http://www.grandviewresearch.com/
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Grand View Research, Inc
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