Market Size of Polyalkylene Glycols (PAGs) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 11.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyalkylene Glycols PAGs Market Analysis
The market for Polyalkylene Glycols (PAGs) is expected to grow at a CAGR of over 11% during the forecast period. Major factors driving the market studied are increasing demand of polyalkylene glycol in lubricants and rising demand from pharmaceuticals segment. On the flipside, higher cost of polyalkylene glycol on comparing to conventional mineral oils and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
- Growing application of polyalkylene glycols in making polyurethane foams is expected to offer various lucrative opportunities for the growth of market.
- By application, lubricants segment is expected to dominate the market owing to the increase in the consumption in various end-user industries namely synthetic lubricants industry, refrigeration lubricants industry, and automotive lubricants industry.
- Asia-Pacific region dominated the polyalkylene glycols market across the globe with the largest consumption from countries such as china and India.
