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Global Polyethylene Glycol (PEG) Market By Application (Medical, Personal Care, Industrial) Is Expected To Reach USD 1.68 Billion By 2020
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 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.