Polytetramethylene Ether Glycol Market is segmented by Application Type (Polyurethane Fibers, Thermoplastic Urethane Elastomers, Co-polyester Ether Elastomers, and Others), by End-Use Industry Type (Paints and Coatings, Automotive, Textiles, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
Polytetramethylene Ether Glycol Market is segmented by Application Type ...
The Polytetramethylene Ether Glycol Market is expected to grow from USD 1.94billion in 2022 to USD 2.88billion by 2028 at a CAGR of 6.72% during the forecast period.
Polytetramethylene ether glycol, or PTMEG, is a white waxy substance produced by the polymerization of tetrahydrofuran (THF). It melts to a clear, colorless, viscous liquid near room temperature. PTMEG is primarily used in the manufacture of polyurethane (spandex) fibers, polyurethane elastomers, and co-polyester ether elastomers.
Market Dynamics
The growing use of PTMEG in the production of polyurethanes, co-polyester ether elastomers, and co-polyetheramides is expected to drive the recovery and growth of the polytetramethylene ether glycol market. Furthermore, increasing product application in the textiles, adhesives & sealants, coatings, and automotive industries is encouraging increased product usage.
Covid-19 Impact
The COVID-19 pandemic had a significant impact on the polytetramethylene ether glycol market. Supply chain disruption due to lockdowns affected the availability of raw materials such as tetrahydrofuran for the production of polytetramethylene ether glycol in import-dependent countries. As a result, the demand for polytetramethylene ether glycol decreased in 2020. However, as soon as the COVID concerns faded in 2021, the market began to recover
Polytetramethylene Ether Glycol Market Features
Market Growth (2023-2028)
6.72% CAGR
Base Year of Study
2022
Trend Period
2017-2021
Forecast Period
2023-2028
Segments Covered
By Application Type (polyurethane fibers, thermoplastic urethane elastomers, co-polyester ether elastomers, and others.)
By End-Use Industry Type (paints and coatings, automotive, textiles, and others)
Region
Top Companies in 2023
BASF SE
Mitsubishi Chemical Holdings Corporation
INVISTA
Chang Chun Group
Hyosung Corporation
Korea PTG Co., Ltd.
Dairen Chemical Corporation
LyondellBasell
Saudi International Petrochemical Company
DuPont de Nemours, Inc.
Dominant Region
Asia-Pacific is expected to remain the largest region in the market for polytetramethylene ether glycol during the forecast period.
Segments Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By Application Type
Polyurethane Fibers
Thermoplastic Urethane Elastomers
Co-polyester Ether Elastomers
Others
By End-Use Industry Type
Paints and Coatings
Automotive
Textiles
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World
By Application Type
The market is segmented into polyurethane fibers, thermoplastic urethane elastomers, co-polyester ether elastomers, and others. Polyurethane fibers are likely to remain the dominantsegment during the forecast period. These fibers, also known as spandex fibers, are widely used to make hosiery, bandages, baby diapers, sports outfits, and home furnishings, among other things. The rising global demand for lightweight, high-quality sports apparel is expected to drive the demand for polyurethane fibers during the forecast period.
By End-Use Industry Type
The market is segmented as paints and coatings, automotive, textiles, and others. The end-use industry for textiles is expected to hold onto its unassailable position over the forecast period. Increasing demand for higher-quality stretch fabrics in a wide range of textile applications is expected to drive the growth of the segment in the coming years. Furthermore, the growing textile sector, coupled with the high demand for spandex from the hygiene and medical industries, is expected to bolster the demand for PTMEG during the forecast period. In addition, the product is widely preferred over conventional polymers because of its exceptional qualities, such as hardness and high resistance at low temperatures.
Regional Analysis
In terms of regions, Asia-Pacific is expected to remain the largest region in the market for polytetramethylene ether glycol during the forecast period. The increasing demand for textiles, paired with the rising penetration of polyurethane fibers in the region is expected to drive the product demand over the forecast period. China led the market in 2021, and its rapidly growing end-use industries, such as coatings, automotive, and textiles, are expected to boost product demand in the future.
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Key Players
Most companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain competitive advantage. The following are some of the key players in the polytetramethylene ether glycol market:
BASF SE
Mitsubishi Chemical Holdings Corporation
INVISTA
Chang Chun Group
Hyosung Corporation
Korea PTG Co., Ltd.
Dairen Chemical Corporation
LyondellBasell
Saudi International Petrochemical Company
DuPont de Nemours, Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polytetramethylene ether glycol market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Polytetramethylene Ether Glycol Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
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Factors such as the growing use of PTMEG in the production of polyurethanes, co-polyester ether elastomers, and co-polyetheramides and its increasing application in the textiles, adhesives & sealants, coatings, and automotive industries are expected to drive the growth of the market in the coming five years.
BASF SE, Mitsubishi Chemical Holdings Corporation, INVISTA, Chang Chun Group, Hyosung Corporation, Korea PTG Co., Ltd., Dairen Chemical Corporation, LyondellBasell, Saudi International Petrochemical Company, and DuPont de Nemours, Inc. are some of the key players in the market.
Asia-Pacific is estimated to be dominant in the polytetramethylene ether glycol market in the coming years. Increasing demand for textiles paired with rising penetration of polyurethane fibers in the region is expected to drive the market dynamics.
Asia-Pacific is estimated to be the fastest-growing region in the coming years owing to the fast-growing end-use industries in China such as coatings, automotive, and textiles.
Polyurethane fiber is likely to maintain its dominance in the market over the next five years, due to its widespread use in hosiery, bandages, baby diapers, sports outfits, and home furnishings, among other things.
