How Is Polyethylene Glycol Market Driven by Growing Pharmaceutical Sector?

The polyethylene glycol market is primarily witnessing growth on account of the rising usage of this chemical as a specialty solvent and surface-active agent in toothpaste, lotions, creams, shampoos, lipsticks, soaps, deodorants, bath oils, detergents, and conditioners. Moreover, due to the importance of the compound in the medical device, automobile, paper and ceramics, paint and coating, and construction sectors, its sales already generated ~$4.5 billion revenue in 2020, which is set to increase massively during 2021–2030 (forecast period).

The grade segment of the market is categorized into PEG 6000, PEG 4000, PEG 3350, PEG 400 FCC Grade, PEG 400, PEG 300, and PEG 200. Among these, the PEG 400 category dominated the market for PEG in 2020, and it is set to advance significantly during the forecast period. PEG 400 has a low molecular weight and toxicity, which makes it useful in numerous applications. Moreover, this grade’s hydrophilic nature allows for its usage in drugs to improve the bioavailability and solubility of drug molecules that are weakly soluble in water.

On the basis of application, the polyethylene glycol market is divided into medical, industrial, construction & infrastructure, and personal care. During the historical period (2015–2020), the largest share, in terms of volume and value, was held by the medical category due to the wide usage of PEG in drugs as an excipient (inactive agent). Some of the most-common medicines have this ingredient, such as acetaminophen, cetirizine, diclofenac, ibuprofen, and tramadol. Moreover, PEG 3350 is used to treat constipation, by helping in the retention of water in the stool.

The polyethylene glycol market garnered the highest revenue from the Asia-Pacific (APAC) region in 2020 because of the region’s vast and growing pharmaceutical industry. India is one of the largest exporters of medical drugs, which keeps the demand for PEG and other raw materials high here. Moreover, PEG is an important raw material in the automotive and construction chemical sectors, which are also witnessing rapid growth in APAC. China and India are already two of the largest construction and automotive markets globally, and their booming population is giving a further boost to these industries. 

Therefore, the market will continue to grow with the rising demand for pharmaceutical products across the globe.

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Customer Preference Increasing for Beauty Devices over Surgical Treatments

 The World Psoriasis Day Consortium estimates that nearly 125 million people across the world are currently affected by psoriasis. Furthermore, the National Eczema Association states that approximately 9.6 million children under the age of 18 years and 16.5 million adults in the U.S. are living with atopic dermatitis. Moreover, an article on the National Center for Biotechnology Information (NCBI) states that melasma is found in 15%–50% of the pregnant women worldwide. Thus, the surging incidence of skin ailments, such as psoriasis, melasma, atopic dermatitis, and acne, is creating a huge requirement for beauty devices.

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In addition, the increasing public awareness regarding the safety profile and benefits of energy-based aesthetic devices, primarily laser ones, will accelerate the beauty devices market at a healthy CAGR of 20.6% during 2021–2030. According to P&S Intelligence, the market was valued at $50,814.4 million in 2020, and it is projected to generate $311,039.3 million revenue by 2030. As compared to surgical treatments, energy-based aesthetic devices are minimally invasive, have fewer side-effects, and offer quicker recovery and less discomfort.

Currently, beauty device manufacturers are engaging in partnerships and facility expansions to offer their products to a greater number of customers. For instance, in August 2020, Shiseido Cosmetics partnered with YA-MAN Ltd. to develop and produce anti-aging devices in Japan. Other companies following these steps are Panasonic Corporation, Conair Corporation, Candela Corporation, L'Oréal SA, Lumenis Ltd., Spectrum Brands Holdings Inc., Carol Cole Company Inc., Nu Skin Enterprises Inc., LightStim, Home Skinovations Ltd., and MTG Co. Ltd.

Geographically, North America led the beauty devices market in the preceding years due to the high disposable income of people in the U.S. and Canada. Additionally, the rising incidence of skin diseases and surging appearance consciousness among customers will augment the usage of these devices in the region. For instance, the American Academy of Dermatology (AAD) estimates that approximately 50 million, 7.5 million, and 16 million Americans are affected by acne, psoriasis, and rosacea, respectively, every year.

Whereas, the Asia-Pacific (APAC) region is expected to utilize these devices at the highest rate in the forthcoming years. This can be ascribed to the mounting public awareness on them and rising geriatric population in the region. The United Nations Population Fund (UNFPA) forecasts that the population of people aged 60 years and more in APAC will reach around 1.3 billion by 2050. Moreover, the increasing availability of affordable beauty products and devices by leading brands is encouraging their adoption.

Therefore, the rising incidence of skin ailments and growing customer awareness on beauty devices are accelerating their usage, especially those that use different forms of energy.

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Increasing Pollution Levels Bolstering Sales of Surgical, Face, and Respiratory Masks

Due to the rising air pollution levels, the demand for surgical, face, and respiratory masks is growing explosively across the world. The increasing industrialization and urbanization is fueling the emission of pollutants from factories and vehicles. According to the findings of the Health Effects Institute and the Institute for Health Metrics and Evaluation (IHME), 4.1 million people lost their lives because of high PM2.5 levels in 2016. 

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Moreover, with the growing incidence of heart diseases, stroke, chronic lung diseases, respiratory infections, and lung cancer, the sales of face masks are rising sharply across the world. Besides these factors, the surging population of geriatric people and the increasing number of surgical procedures are also propelling the sales of surgical, face, and respiratory masks across the globe. This is, in turn, driving the advancement of the global surgical, face, and respiratory mask market.

This will be because of the increasing prevalence of airborne disease and the rising requirement for surgical procedures around the world. Because of the ongoing COVID-19 pandemic, the demand for such masks is exploding, as these masks are being extensively used by people and healthcare practitioners for minimizing the spread of the infection. Individuals, hospitals, clinics, and ambulatory surgery centers (ASCs) are the major end users of respiratory, surgical, and face masks across the world.

Out of these, the usage of these masks is predicted to be the highest in hospitals in the coming years, on account of the fact that nearly all medical practitioners working at hospitals are wearing masks, because of the presence of strict regulations regarding the wearing of masks at hospitals. These masks are sold via direct and indirect channels. Between these, the sales of these masks via indirect channels are predicted to be higher in the coming years.

Hence, it can be said with full confidence that the demand for surgical, respiratory, and face masks will soar all over the world in the future years, mainly because of the rising prevalence of airborne and lung diseases and the increasing implementation of strict regulations regarding mask usage at healthcare settings across the world. 

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Why Has Antimicrobial Coatings Market Witnessed Positive Impact of COVID-19?

The antimicrobial coatings market is being propelled by the increasing awareness on proper hygiene and safety, stringent regulations being implemented in this regard, and surging consumption of such materials in a range of industries and applications. Additionally, with time, doctors have come to prefer these products over disinfectants because coatings prevent the sticking of microbes on the surface of medical devices, thus helping prevent hospital-acquired infections (HAIs). As a result, the market stood at $3.6 billion in 2020, and it will grow significantly during 2021–2030 (forecast period).

Medical & healthcare, building & construction, food & beverage, heating ventilation, and air conditioning (HVAC) system, transportation, and protective clothing are the categories of the application segment. Among these, the medical & healthcare category dominated the market during the historical period (2015–2020) due to the increasing prevalence of HAIs. As per the Centers for Disease Control and Prevention (CDC), every day, among every 25 hospital patients in the U.S., at least one contracts an HAI. Thus, the hygiene and safety regulations implemented for healthcare settings are becoming stricter, thereby driving the market.

Research activities to come up with better materials are the key antimicrobial coatings market trend. Such activities have especially picked up during the ongoing coronavirus pandemic, during which the market players are making concrete efforts to come up with antimicrobial coatings that can damage the cell structure of the virus, to kill them. For instance, the Nerolac Excel Virus Guard emulsion paint, developed with the Japanese Shiquy Technology, has shown effectiveness in reducing microbial growth on walls significantly.

North America has been the largest antimicrobial coatings market till now, mainly because of the favorable government initiatives. For instance, the construction of hospitals and other medical settings in the U.S. is encouraged under the Affordable Healthcare Act, which is propelling the consumption of such anti-infective agents. Moreover, due to the strict government regulations, manufacturers of HVAC systems are using such coatings in their products, especially now, during the raging COVID-19 pandemic.

Therefore, with the surging public awareness on infection prevention, currently and long after the pandemic has ended, the market will witness continuous growth.

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Why Is North America Leading 3D Printing High-Performance Plastics Market?

Factors such as the escalating demand for mass customization of products and increasing applications of 3D printing technology in the automotive, defense, aerospace, and aviation industries will facilitate the 3D printing high-performance plastics market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached around $73.5 million in 2020. In recent years, increasing shift of manufacturers from traditional production methods to 3D printing, due to the zero-material wastage, more customizability, and cost-effectiveness offered by this technology, has become a major market trend.

One of the key catalysts for the market growth is the widening application base of 3D printing high-performance plastics in the aerospace industry. The rising production of aircraft components, primarily on account of the mushrooming demand for aircraft to ferry more cargo and passengers. 3D printing technology is an effective method of producing aircraft parts, as it uses filaments, which help in reducing the weight of the manufactured products. Furthermore, the usage of filaments also assists in enhancing strength and designing and creating complex structures for aircraft components. 

Currently, players operating in the 3D printing high-performance plastics market are engaging in partnerships to gain a significant position. For instance, in March 2021, Stratasys Ltd. partnered with Xometry to offer a wide range of high-performance nylon materials to end users. With this partnership, the customer base of Xometry, which includes Fortune 100 companies and startups, got access to the selective laser sintering (SLS) 3D printing technology of Stratasys Ltd. Other companies focusing on improving their presence through partnerships include Saudi Basic Industries Corporation (SABIC), EOS GmbH Electro Optical Systems, Solvay, and Victrex plc.

Geographically, North America held the largest share in the 3D printing high-performance plastics market in 2020, and it is expected to maintain its dominance throughout the forecast period as well. This can be ascribed to the increasing investments being made in the research and development (R&D) of 3D printing materials, on account of the escalating focus on technological advancements. Moreover, the expanding manufacturing base of the robotics, aerospace, medical prostheses, and automobile industries in the region will also catalyze the market growth in the forthcoming years. 

Thus, the increasing demand for aircraft and automobiles will supplement the market growth in the foreseeable future.

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Increasing Incidence of Road Accidents Driving Sales of Automotive Night Vision Systems

The rising prevalence of road accidents, especially at night, is encouraging many automobile manufacturers to incorporate night vision systems in their offerings. According to the World Health Organization (WHO), around 1.3 million deaths are caused every year because of road accidents. Furthermore, the organization reported that road accidents are leading cause of deaths for young adults in the age group of 5–29 years and children and these crashes cost several countries as much as 3% of their gross domestic product (GDP).

Automotive night vision systems have the ability to easily perceive surroundings of the vehicle beyond the range of the headlights, thereby improving the vision and perception of the driver at night or in low visibility conditions. Moreover, these systems alert the driver about obstacles and probable hazards, that are otherwise not visible, thereby improving the driving experience and vehicle safety. The adoption of these systems is currently very high in luxury and premium cars, which are majorly sold in China and developed countries such as the U.K., the U.S., Spain, Japan, and Germany. 

Because of the increasing integration of these systems in automobiles, the booming sales of vehicles, especially in the Asia-Pacific (APAC) region, are also driving the growth of the automotive night vision system market. According to the predictions of the market research organization, P&S Intelligence, the market will exhibit huge expansion from 2019 to 2025 (forecast period). Automotive night vision systems are incorporated in both commercial vehicles and passenger cars. The adoption of these systems in passenger cars is predicted to rise significantly in the coming years. 

Thus, owing to the rising incidence of road accidents, growing need for greater visibility at night and in bad weather, and the burgeoning requirement for advanced safety systems in vehicles, the demand for automotive night vision systems will surge sharply all over the world in the coming years. 

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Hospital-Acquired Infections Boosting Usage of Single-Use NPWT Devices

Wounds are perhaps the most-common form in which an injury is visible. They can range from minor scrapes and cuts to those that tear the flesh and expose the bone. While nothing normally needs to be done for minor wounds, the major ones don’t heal as quickly on their own. Moreover, unhealed wounds accumulate pus and ultimately become a breeding ground for microbes, which can lead to gangrene, requiring the entire affected tissue to be removed. In extreme cases, gangrene results in limb and arm amputations.

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As a result of the growing awareness on the dangers of open wounds, P&S Intelligence predicts the single-use negative-pressure wound therapy (NPWT) devices market revenue to reach $1,673.1 million by 2030 from $770.2 million in 2020, at an 8.1% CAGR between 2020 and 2030. This is because since the 1990s, NPWT has become a preferred advanced wound care solution, especially for long-lasting wounds. The term ‘negative pressure’ implies that unlike conventional wound healing techniques, it doesn’t press on the wound; rather pulls at it, thereby sucking out the exudate.

In regards to single-use NPWT, it is the surging cases of hospital-acquired infections (HAIs) that are propelling their usage. As conventional variants are used on multiple patients, they can easily transmit infections from one patient to another, many of them deadly ones. The World Health Organization (WHO) says that “Of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries will acquire at least one health care-associated infection.”. This not only leads to a high mortality burden, but it can also lead to millions in losses for healthcare settings if the allegations of negligence are proved.

Hence, North America is the largest single-use NPWT devices market in the world, because not only is its healthcare infrastructure highly advanced, but the regulations on HAI prevention are also among the strongest here. Moreover, the continent has a high incidence of chronic diseases that cause wounds on their own or as a result of surgeries. Similarly, Asia-Pacific (APAC) is embracing this technique with the increasing investments in its healthcare sector, rising burden of diseases, and an already-high incidence of burns and road accidents.

Hence, with the advancing medical sector, the adoption of single-use NPWT devices will grow.

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