The market size of polyethylene glycol (PEG) continues to expand, with the pharmaceutical field being its largest demand end.

Polyethylene glycol (PEG), also known as ethylene glycol polyoxyethylene ether, has a chemical formula of HO (CH2CH2O)nH and refers to the general name of ethylene glycol polymers containing α,ω-double-ended hydroxyl groups. Polyethylene glycol appears as a transparent liquid to a milky white paste solid, has a slightly bitter taste, is soluble in water and most organic solvents, and is insoluble in ether and most aliphatic hydrocarbons. Polyethylene glycol has the advantages of good water solubility and good chemical stability, and is widely used in medicine, food processing, cosmetics, papermaking, rubber and other fields.

In recent years, my country’s polyethylene glycol synthesis technology has continued to make innovations and breakthroughs, driving its production capacity to continuously expand and its output to continue to grow. In the first half of 2022, my country’s polyethylene glycol production capacity reached 236,000 tons, setting a record high. However, at present, Chinese companies mainly produce mid-to-low-end polyethylene glycol. The products have problems such as high impurity content and large catalyst residues. High-end products are highly dependent on imports, which is the main challenge facing the development of the industry.

Polyethylene glycol has a wide range of applications, including medical, food processing, cosmetics, papermaking, rubber, etc. Benefiting from the increasingly strong market demand, the development space of the polyethylene glycol industry continues to expand. According to the “2023-2028 China polyethylene glycol (PEG) industry market in-depth research and development prospect forecast report》shows that the global polyethylene glycol market will reach 21.05 billion yuan in 2022, a year-on-year growth of 3.2%. With the improvement of technology level and the growth of market demand, the global polyethylene glycol market size is expected to exceed 28 billion yuan by 2028.

The pharmaceutical field is the largest demand side for polyethylene glycol. Medical polyethylene glycol has mildness, non-volatility, lubricity, physiological inertness, etc., and can be used to manufacture lubricants, denture fixatives, contact lens fluids, sustained-release drugs, laxatives, etc. Compared with overseas developed countries, my country’s medical polyethylene glycol industry started late. In the future, driven by positive factors such as national policy support, the prosperity of the medical polyethylene glycol industry will continue to increase.

There are many polyethylene glycol manufacturers in my country, and the market competition is fierce. Oak Co., Ltd., Jiankai Technology, Shutaishen, Changchun High-tech, Watson Pharmaceuticals, Tianjin Petrochemical, Beijing Coking, Jinshan Chemical, etc. are the main polyethylene glycol manufacturers in my country. JianKai Technology is my country’s leading polyethylene glycol company. Medical polyethylene glycol and its active derivatives are its main products. At present, the company has a complete industry from polyethylene glycol raw materials to polyethylene glycol modified drugs. Chain, the production capacity of JianKai Technology’s medical polyethylene glycol and its active derivatives will reach 0.05 tons in 2022.

Industry analysts said that polyethylene glycol has excellent performance and has broad application prospects in the pharmaceutical field. With the gradual release of market demand, my country’s The development speed of polyethylene glycol industry will further accelerate. In terms of market competition, Jiankai Technology is my country’s leading polyethylene glycol company. It is expected that companies with high-end polyethylene glycol production capabilities will occupy more of my country’s market in the future.