Polyalkylene glycol is a hydrofluoro carbon derived by the addition of one or more repeating epoxides. It includes the E-series and P-series adducts and block copolymers. Globally, development of efficient and advance technology, rising demand from industrial lubricant, flourishing automotive industry, and advantageous properties of polyalkylene glycol such as, water solubility, high viscosity indexes, and bio-degradability are the prime growth drivers of global polyalkylene glycol market. In addition, increase in adoption of polyalkylene glycol for application in newer industrial vertical, and emerging economies such as China, India and others, will create new opportunities for global polyalkylene glycol market. However, volatile prices and availability of raw materials, availability of substitute compounds, and higher cost of polyalkylene glycol as compared to conventional mineral oils are the key restraints for global polyalkylene glycol market.
Geographically Asia Pacific dominated global polyalkylene glycol market, followed by North America. Asia Pacific is projected to have fastest growth, owing to rapidly increasing automobile industry, rise in industrial sector, and growing pharmaceutical, and personal care applications in developing nations such as China, and India in this region. Among all the applications, lubricants segment has the highest market share in global polyalkylene glycol market due to spur in automotive industry, rising preference for processed food, and improved standard of living. Polyethylene Glycol (PEG) is the market leader among all types of polyalkylene glycol, owing to its better performance and environment friendly properties.
This report identifies the global polyalkylene glycol market size in for the year 2014-2016, and forecast of the same for year 2021. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to global polyalkylene glycol market.