Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.9 Billion | USD 4.0 Billion | 10.5% | 2021 |
FrequentlyAsked Questions
The global polyalkylene glycol market cap may grow owing to the increasing use of polyalkylene glycol in lubricants. The development of high-performance lubricants for many end-use industries, including automotive, textile, food & beverage, and others, is being supported by the global lubricants industry participants' use of synthetic base oils.
According to Zion Market Research, the global polyalkylene glycol market size was worth around USD 1.9 billion in 2021 and is predicted to grow to around USD 4.0 billion by 2028 with a compound annual growth rate (CAGR) of roughly 10.5% between 2022 and 2028.
The global polyalkylene glycol market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the increasing industrialization.
The global polyalkylene glycol market is dominated by players like BASF SE, Dow, INEOS, SABIC, DuPont, Royal Dutch Shell Plc, Bayer AG, Clariant, Huntsman International LLC and LyondellBasell Industries Holdings B.V. among others.
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