Polytetramethylene Ether Glycol (PTMEG) Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3862
Polytetramethylene Ether Glycol (PTMEG) Market size is projected to show tremendous growth owing to its increasing use in the production of polyurethanes, co-polyether esters and co-polyetheramides. Polytetramethylene ether glycol (PTMEG) also known as polytetrahydrofuran is a white waxy substance produced by polymerization of tetrahydrofuran.
Steadily growing product application in textiles, adhesives & sealants, coatings and automotive industry will be augmenting global PTMEG market size during the assessment period. The product is also widely used in producing spandex fibers which are being extensively used in modern sportswear.
Some of the niche industrial applications of PTMEG market include gears, conveyor belts, escalator wheels, grain chute liners, tires for fork-lift trucks, pipe linings, marine hoses, printer rolls, mining screens and others. The growing industrialization in the developing economies is anticipated to further boost the polytetramethylene ether glycol market during the forecast period.
PTMEG forms a vital part in the production of essential elastomers such as polyurethanes which are further possessed into finish products via fiber spinning and extrusion process. The growing demand for polyurethanes in electrical & electronics, packaging and construction industries is anticipated to generate substantial revenue for the global polytetramethylene ether glycol market during the review period. Polytetramethylene ether glycol offers excellent properties such as high resiliency, low temperature flexibility, high abrasion resistance that makes them suitable for the use in production of elastomers. Moreover, the growing use of PTMEG in textile industries shall further boost the market growth during the review period.
The increased spending in research activities for the development of bio based polytetramethylene ether glycol is likely to open up new growth avenues in the market over the next few years. For instance, In March 2015, BASF announced production of bio-based PolyTHF, an environment friendly PTMEG that offers same characteristics as conventional petrochemicals based on polytetramethylene ether glycols. However, the growing threat of alternative product markets coupled with the presence of stringent regulations regarding the use of polytetramethylene ether glycols may act as a major factor restraining product demand during the forecast period.
In terms of application, the global polytetramethylene ether glycol market is segmented into spandex, thermoplastic urethane elastomers, co-polyester ether elastomers and others. Among these, spandex was the largest segment in 2018 and shall exhibit the same trend over the review period. Spandex fibers are extensively used to produce hosiery, bandages, baby diapers, sports outfits and home furnishings among others. The growing demand for lightweight high quality sports apparels across the globe is likely to accelerate PTMEG market over the forecast timeframe.
In terms of end-users, the global PTMEG market is classified into coatings, adhesives & sealants, textiles, artificial leather, automotive, industrial and leisure & sports. Among the aforementioned segments, textile and sports segment shall generate maximum revenue over the forecast timespan. The product offers excellent properties such as hardness and high resistance at low temperatures hence are widely preferred over conventional polymers.
In the coatings industry, the use of polytetramethylene ether glycol improves surface finishing, water resistance hence which makes them suitable for breather fabrics and other applications. Polytetramethylene ether glycol forms an important building blocks for thermoplastic polyurethane and polyetherester elastomers which are widely used in transmission boots, seals and gaskets, air bag covers, covers, hoses and CV joints in automobiles. Furthermore, the product is also used as raw materials for the manufacturing of artificial leathers which are in turn used in luggage and upholstered chairs & sofas.
Asia Pacific shall show a significant growth, in terms of volume and value, during the forecast period. The growing demand for textiles in the region coupled with increasing penetration of spandex in the region shall propel product demand over the forecast period. China led the regional product demand in 2018 and shall exhibit the same trend throughout the forecast period. The developing end-user industries in China such as coatings, automotive, textile coupled will be contributing to augmented product demand in future.
Some of the key market players in polytetramethylene ether glycol market include BASF SE, INVISTA, Mitsubishi Chemical, Dairen Chemical Corporation, LyondellBasell, DuPont and Sipchem.
Polytetramethylene Ether Glycol (PTMEG) Market, By Application, 2014-2025 (Tons) (USD Million)
- Thermoplastic urethane elastomers
- Co-polyester ether elastomers
Polytetramethylene Ether Glycol (PTMEG) Market, By End-user, 2014-2025 (Tons) (USD Million)
- Adhesives & sealants
- Artificial leather
- Leisure and sports
The above information has been provided for the following regions and countries:
- North America
- Latin America
- South Africa
- Saudi Arabia
- BASF SE
- Mitsubishi Chemical Corporation
- Dairen Chemical Corporation
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