Biocompatibility Drives PEG Demand in Medical Applications
The polyethylene glycol (PEG) market is entering a transformative phase, buoyed by strong demand from multiple end-use industries, including pharmaceuticals, personal care, and food and beverage. With versatile properties such as water solubility, chemical stability, and non-toxicity, polyethylene glycol is becoming indispensable across a range of applications. In 2024, the market is projected to achieve a year-over-year growth rate of 5.9% , with an estimated valuation of USD 4,284.0 million . This growth trajectory is underpinned by its adoption in diverse applications, including drug formulation, skin care products, and industrial lubricants. Looking ahead, the market is expected to grow at a CAGR of 6.4% between 2024 and 2034 , reaching a valuation of USD 7,999.4 million by 2034 . This expansion reflects rising investment in research and development, as manufacturers aim to introduce innovative PEG-based products while meeting stringent...