Global Polyalkylene Glycol Market: Overview
Polyethylene glycol is also known as polyoxyethylene or polyethylene oxide. It is a polyether compound, which is used in various applications ranging from industrial manufacturing to medicine. Polyethylene glycol is hydrofluorocarbon that is primarily synthesized from ethylene oxides or propylene oxides. Numerous applications of the polyalkylene glycol include turbine oils, gear lubricants, pharmaceuticals, hydraulic fluid lubricants, textile, industrial air compressor fluids, and others. Polyalkylene glycol copolymers are obtained from ethylene oxides; they provide finest friction control and substitute to hydrocarbon lubricants. Polyalkylene glycol holds improved lubricity properties, great viscosity index, and low toxicity. Polyalkylene glycol, which is soluble in oil, is a better alternative to synthetic ester as a friction modifier. It provides excellent friction when used as additive. As extreme pressure gear lubricants polyalkylene glycol is used in the textile manufacturing equipment.
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Global Polyalkylene Glycol Market: Growth Factors
The polyalkylene glycol is extensively used in various applications such as wind turbine lubricants and tunnel boring. Polyalkylene glycol offers several advantages that include environment friendly nature, best lubrication for compressors, low volatility in high-temperature applications, prominent energy efficiency, easy clean up of the equipment and wide scope for innovation, residue resistance property, water solubility; these benefits anticipate to foster the polyalkylene glycol market and open good opportunities in the near future. Increasing investments in R&D to produce food grade approved lubricants from polyalkylene glycol so that it can be used in the food processing industrial equipment and for the manufacturing of the innovative products is driving the growth of the market. Escalating consumption of the automotive lubricants and synthetic lubricants is globally expected to boost the growth of the market. However, the entries of the new alternatives in the market may hamper the growth of the polyalkylene glycol market.
Global Polyalkylene Glycol Market: Segmentation
The global polyalkylene glycol market is classified based on the product type, application, and solubility. Based on product type, the market is segregated into higher polyols-adducts, polypropylene glycols, polyethylene glycols, and others. The applications segment is segmented into surfactants, functional fluids, lubricants, and intermediates. On the basis of solubility, the polyalkylene glycol market is divided into mineral oil soluble polyalkylene glycol, oil soluble polyalkylene glycol, and water-soluble polyalkylene glycol.
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Global Polyalkylene Glycol Market: Regional Analysis
North America is the dominating region for polyalkylene glycol market; Western Europe is following the same trend. Increasing use of the polyalkylene glycol in the synthetic lubricant industries, automotive industries, and automotive lubricant industries is anticipated to fuel the market growth in the near future. Western Europe is growing at a faster rate owing to the wide usage of polyalkylene glycol in the industrial worm gears may enhance the global polyalkylene glycol market growth. Industrial growth and development in the Asia Pacific region is fuelling the growth of the market.
Global Polyalkylene Glycol Market: Competitive Players
Major market players involved in the global polyalkylene glycol market are India Glycols Limited, Lube Tech, Idemitsu Kosan Co., Ltd., INEOS, The Dow Chemical Company, BASF, and others.
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Global Polyalkylene Glycol Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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