Polyalkylene Glycol Market Growth and Value Chain 2015-2025
Polyalkylene glycol is a hydrofluoro carbon synthesized from propylene oxides or ethylene oxides. Polyalkylene glycols are used in several applications such as Gear Lubricants, Hydraulic Fluid Lubricants, turbine oils, industrial air compressor fluids, pharmaceuticals, textile and lot more. Polyalkylene glycol copolymers synthesized from a high level of ethylene oxides provide best friction control and are alternatives to hydrocarbon lubricants. Polyalkylene glycol is one of the few synthetic substances identified by the FDA food additive regulation for food grade lubricants.
Polyalkylene glycol are also referred as Polyglycol or ployglycol ether that are characterized with great viscosity index, very good lubricity properties and very low toxicity. Oil soluble Polyalkylene glycol offers better friction when it is used as additive and it is an alternative to synthetic ester as a friction modifier. Polyalkylene glycol are also used as lubricants in textile manufacturing equipment as extreme-pressure gear lubricants.
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With the increasing consumption of synthetic lubricant and automotive lubricants across the world, the global Polyalkylene glycol market is projected to grow with a significant growth rate during the forecast period 2015-2025.
Polyalkylene Glycol Market: Drivers & Restraints
The demand for Polyalkylene glycol market is expected to grow with a considerable CAGR owing to the usage of this compound in several industries and its emerging applications such as Tunnel boring and wind turbine lubricants.
Moreover, the advantages offered by the Polyalkylene glycol such as low volatility in high-temperature applications, residue resistance property, best lubrication for compressors, environment friendly nature, water solubility, prominent energy efficiency that allows for easy clean-up of equipment and huge scope of innovation, are anticipated to build a great potential and bring good opportunities during the forecast period. Recent research is being able to develop food grade approved lubricants from Polyalkylene glycol which can be used in equipment of food processing industry. Also research is being conducted to develop and innovate new products from Polyalkylene glycol.
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Nevertheless, the availability and entry of new substitute compounds might hamper the growth of Polyalkylene glycol market.
Polyalkylene Glycol Market: Segmentation
The Polyalkylene glycol market is broadly classified into four segments on the basis of applications
- Functional fluids
The Polyalkylene glycol market is broadly classified into three segments on the basis of their solubility
- Oil soluble Polyalkylene glycol
- Mineral oil soluble Polyalkylene glycol
- Water soluble Polyalkylene glycol
The Polyalkylene glycol market is broadly classified into four segments on the basis of product type
- Polypropylene glycols
- Polyethylene glycols
- Higher polyols-adducts
Polyalkylene Glycol Market: Regional Outlook
Depending on geographic regions, global Polyalkylene glycol market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific dominated the global Polyalkylene glycol market in terms of market revenue.
North America and Western Europe are anticipated to show remarkable growth during the forecast period 2015-2025 due to increased use of Polyalkylene glycol in automotive industries, synthetic lubricant industries and automotive lubricant industries in these regions. In Western Europe the demand for Polyalkylene glycol is driven by its extensive usage in industrial worm gears.
Polyalkylene Glycol Market: Key Players
The Key players operating in Polyalkylene glycol market are Idemitsu Kosan Co., Ltd., The Dow Chemical Company, BASF, LUBE TECH, INEOS, India Glycols Limited and others.
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