Polytetramethylene Ether Glycol Market - By Application (Spandex, Thermoplastic Urethane Elastomers, Co-polyester Ether Elastomers), By End-user (Coatings, Adhesives & Sealants, Textiles, Artificial Leather, Automotive), & Forecast, 2023 - 2032

Polytetramethylene Ether Glycol Market Size

Polytetramethylene Ether Glycol Market size was valued at more than USD 2 billion in 2022 and is poised to record significant growth at over 6.5% CAGR through 2032 owing to the growing product demand in sports equipment industry.
 

Polytetramethylene ether glycol is one of the premium raw materials used in the manufacturing of various thermoplastic urethane elastomers, such as polyurethanes, polyesters, and polyamide elastomers. The extensive use of spandex fibers to fabricate products, such as baby diapers, hosiery, sports outfits, or bandages, is an attributable factor for industry growth. Furthermore, widespread product application in medical, home furnishings, apparel, and automotive textiles are anticipated to escalate the overall market revenue through the forecast period.
 

Prominent health effects caused to hinder polytetramethylene ether glycol market expansion

As PTMEG can cause skin corrosion or irritation, as well as serious eye damage or irritation, these side effects are hampering the uptake of polytetramethylene ether glycol (PTMEG). However, manufacturers are taking efforts and R&D initiatives to lower the toxicity levels and introduce non-hazardous, stable PTMEG polyol products, which is foreseen to help them overcome this restraint in the coming years.
 

Polytetramethylene Ether Glycol Market Analysis

As per application, industry is categorized into thermoplastic urethane elastomer, spandex, co-polyester ether elastomers, and others. Polytetramethylene ether glycol market share from the co-polyester ether elastomers (COPE) segment is anticipated to reach USD 550 million by 2032 owing to its rising usage in the automotive, hoses & tubing, medical, and wire & cable applications. COPE's advantageous properties bridge the gap between more flexible elastomers and stiff plastics, making it suitable for use in automotive applications, including seats, airbag deployment, and air intake ducts, as well as breathable films for medical purposes.
 

Polytetramethylene ether glycol market share from artificial leather end-user segment is expected to grow at a rate of more than 7.5% CAGR through 2032. Artificial leather products are becoming more popular among customers due to their lower cost, longer product life, and high-water resistance. Furthermore, rising concerns from animal rights organizations, such as PETA and WWF, are constraining the expansion of the natural leather sector and are positively affecting artificial leather sales, which are expected to boost PTMEG market revenue over the estimated timeline.
 

Asia Pacific polytetramethylene ether glycol market is set to grow significantly in terms of volume and be valued at more than USD 3 billion by 2032. Growing demand for textiles, coupled with steadily increasing spandex penetration in the region, is expected to drive product demand throughout the forecast timeline. China's developing end-user sectors, such as coatings, automotive, and textile, are anticipated to increase product demand from 2023 to 2032.
 

Polytetramethylene Ether Glycol Market Share

BASF SE, Formosa Asahi Spandex, Jianfeng Chemical, Dupont de Nemours, Inc., Mitsubishi Chemical Corporation, Invista, Dairen Chemical Corporation, Korea PTG Co., Ltd., Sipchem, Shanxi Sanwei Group Co., Ltd., and Sanlong New Materials are some of the prominent companies engaged in the polytetramethylene ether glycol market.
 

Impact of COVID-19 Pandemic

COVID-19 pandemic had a detrimental influence on the chemical industry as a whole. Since PTMEG production has been heavily reliant on China for many decades, it severely impacted by the pandemic, the industry faced the challenges of obtaining raw materials and supply chain disruption, which caused a major hurdle in delivering finished products. However, as the infection rates fall and lockdown restrictions are eased, companies are leveraging the unique opportunities presented by the challenges by orienting their businesses toward the new patterns that will persist post-COVID-19.
 

The polytetramethylene ether glycol (PTMEG) market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2018 to 2032 for the following segments:

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By Application

• Spandex
• Thermoplastic urethane elastomer
• Co-polyester Ether Elastomers
• Others

By End User

• Coatings
• Adhesives & Sealants
• Textiles
• Artificial Leather
• Automotive
• Industrial
• Leisure & Sports
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa