Polytetramethylene Ether Glycol Market Size, Segments, and Growth by Forecast by 2031

The Polytetramethylene Ether Glycol Market size is projected to reach US$ 7.34 billion by 2031 from US$ 4.80 billion in 2023. The market is expected to register a CAGR of 5.5% in 2023–2031. Growing demand for spandex fibers in the healthcare industry, is likely to remain key polytetramethylene ether glycol market trend.

Polytetramethylene Ether Glycol Market Analysis

The growing textile industry drives the polytetramethylene ether glycol (PTMEG) demand. PTMEG is a significant component in producing spandex fibers widely used in the textile industry. The increasing demand for stretchable fabrics, specifically in activewear and athleisure, boosts the demand for PTMEG. The overall growth in the textile and apparel industry, driven by fashion trends and rising consumer preference for comfortable and flexible clothing, contributes significantly to the demand for PTMEG. According to the European Apparel and Textile Confederation, Europe was the world’s second-largest textile and clothing exporter after China in 2022. The European textile industry recorded a turnover of ~US$ 184 billion in 2022, a rise of 13% compared to 2021. Further, as per the General Administration of Customs (GACC), China recorded revenue of US$ 175.39 billion through its apparel and accessory exports in 2022. Therefore, the growing textile industry drives the market growth.

Polytetramethylene Ether Glycol Market Overview

PTMEG is manufactured by catalyzed polymerization of tetrahydrofuran. PTMEG is a significant raw material for producing polyurethane, such as polyurethane fibers, polyurethane elastomers, synthesized leathers, paint additives, polyesters, and polyamides. The properties of PTMEG include high molecular weight, low viscosity, good solubility, thermal and oxidative stability, and hydrolytic stability. High performance, low environmental impact, versatility, and cost-effectiveness are some advantages of PTMEG. PTMEG has a wide range of applications, including spandex production, polyurethane elastomers, polyesters, polyamides, adhesives and sealants, coatings, lubricants, and pharmaceuticals.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Get FREE CUSTOMIZATION

Polytetramethylene Ether Glycol Market: Strategic Insights

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

Polytetramethylene Ether Glycol Market Drivers and Opportunities

Growth in the Automotive Industry to Favor Market

Manufacturers use PTMEG for production of wheels, belts, tubing, tires, abrasion-resistant surfaces and other products. It exhibits several properties such as hydrolysis resistance, resilience, and low temperature properties. Polyurethane elastomers are important materials used in diverse applications such as tires, mowers, all-terrain vehicles, gaskets, valves and wiper blades. The advancements in automotive manufacturing capabilities and rising demand for electric vehicles drive the global automotive industry. According to a report by the International Energy Agency in 2022, 2.3 million electric vehicles were sold in Europe in 2021, a rise from 1.4 million in 2021. The growing automotive industry is one of the major drivers of global polytetramethylene ether glycol market share.

Rising Demand for Paints and Coatings – An Opportunity in Polytetramethylene Ether Glycol Market

PTMEG is used for production of adhesives and sealants, and paints and coatings. Paints and coatings are increasingly used in the automotive, transportation, and other industrial applications. According to the American Coatings Association report published in February 2023, in 2021, the US coatings industry shipped architectural coatings worth more than US$ 14 billion; industrial OEM coatings worth US$ 8.7 billion; and special purpose coatings such as marine paints, military-specified coatings, and automotive refinish paints worth US$ 4 billion. Therefore, the rising demand for paints and coatings is expected to have a positive impact on the polytetramethylene ether glycol market.

Polytetramethylene Ether Glycol Market Report Segmentation Analysis

Key segments that contributed to the derivation of the polytetramethylene ether glycol market analysis are application, and end-use industry.

• Based on application, the polytetramethylene ether glycol market is divided into polyurethane fibers, thermoplastic polyurethane elastomers, copolyester-ether elastomers, and others. Thermoplastic polyurethane elastomers segment held a larger market share in 2023.
• Based on end-use industry, the polytetramethylene ether glycol market is divided into automotive, building and construction, electronics, textiles, and others. Building and construction segment held a larger market share in 2023.

Polytetramethylene Ether Glycol Market Share Analysis by Geography

The geographic scope of the polytetramethylene ether glycol market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Asia Pacific held the significant share in the polytetramethylene ether glycol market. The market in Asia Pacific has a strong industrial infrastructure and large-scale production facilities, whereas China is a major manufacturing hub. The increasing demand for textiles, especially in countries such as China, India, and Southeast Asia, drives the demand for PTMEG. Spandex, manufactured from PTMEG, is used in the production of stretchable fabrics. The growing automotive industry in the region and subsequent increase in the utilization of PTMEG in interior automotive components, seals and elastomeric parts. The region’s role in both PTMEG production and the textile industry influences the market.

Polytetramethylene Ether Glycol Market Regional Insights

The regional trends and factors influencing the Polytetramethylene Ether Glycol Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Polytetramethylene Ether Glycol Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Polytetramethylene Ether Glycol Market Report Scope

Polytetramethylene Ether Glycol Market Players Density: Understanding Its Impact on Business Dynamics

The Polytetramethylene Ether Glycol Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Polytetramethylene Ether Glycol Market are:

1. Dairen Chemical Corporation
2. BASF SE
3. Sinopec
4. Hyosung Corporation
5. Invista
6. Henan Energy Chemical Group

Disclaimer: The companies listed above are not ranked in any particular order.

Polytetramethylene Ether Glycol Market News and Recent Developments

The polytetramethylene ether glycol market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:

• In August 2023, Huaheng Energy Technology Co Ltd produced the first batch of PTMEG, thereby filling the gap of the PTMEG industry in Mongolia. The first produced batch of qualified PTMEG products was shipped. (Source: Huaheng Energy Technology Co Ltd, Press Release)

 

Polytetramethylene Ether Glycol Market Report Coverage and Deliverables

The “Polytetramethylene Ether Glycol Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles