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Polytetramethylene Ether Glycol (PTMEG) Market Size (2024 - 2029)

The Polytetramethylene Ether Glycol (PTMEG) market is anticipated to experience growth over the forecast period, driven by increasing demand for thermoplastic polyurethane and expansion in the apparel and clothing sector. Despite challenges posed by economic downturns in European economies, the market's expansion is supported by emerging applications of spandex fibers in healthcare and a shift towards bio-based products. The market's recovery from disruptions caused by the COVID-19 pandemic has also contributed to its positive growth trajectory.

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Market Size of Polytetramethylene Ether Glycol (PTMEG) Industry

Polytetramethylene Ether Glycol (PTMEG) Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.27 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

Polytetramethylene Ether Glycol (PTMEG) Market Analysis

The Polytetramethylene Ether Glycol (PTMEG) Market size is expected to grow from 1.24 million tons in 2023 to 1.60 million tons by 2028, at a CAGR of 5.27% during the forecast period (2023-2028).

Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market. However, the conditions started recovering over time, restoring the market's growth trajectory.

  • Over the medium term, the increasing demand for thermoplastic polyurethane (TPU) and the growth in the apparel and clothing industry is expected to drive the market growth.
  • However, the economic downfall in the European economies is expected to hinder the growth of the market studied.
  • The emerging usage of spandex fibers in the healthcare industry and shifting trends toward bio-based products are expected to provide opportunities for the market.

Polytetramethylene Ether Glycol (PTMEG) Industry Segmentation

Polytetramethylene ether glycol is chemically a polymer of tetrahydrofuran. It has outstanding characteristics as a soft segment of polyurethane and polyester resins. The polytetramethylene ether glycol market is segmented by application, end-user industry, and geography. The market is segmented by application into polyurethane fibers, thermoplastic urethane elastomers, and other applications. By end-user industry, the market is segmented into paints and coatings, automotive, textiles, and other end-user industries. The report also covers the market size and forecasts for the polytetramethylene ether glycol market in 16 countries across major regions. The market sizing and forecasts have been done for each segment based on volume (tons).

By Application
Polyurethane Fibers (Spandex)
Thermoplastic Urethane Elastomers
Other Applications
By End-user Industry
Paints and Coatings
Automotive
Textiles
Other End-user Industries
By Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Polytetramethylene Ether Glycol (PTMEG) Market Size Summary

The polytetramethylene ether glycol (PTMEG) market is poised for significant growth over the forecast period, driven by increasing demand in the thermoplastic polyurethane (TPU) sector and the expanding apparel and clothing industry. The market experienced disruptions due to the COVID-19 pandemic, but recovery has been underway, restoring its growth trajectory. The textile industry, particularly in emerging economies like the ASEAN countries, is a major contributor to this growth, fueled by low manufacturing costs and the sector's critical role in trade and employment. The demand for enhanced quality stretch fabrics in various applications is a key driver for PTMEG. Additionally, the market is expected to benefit from the emerging use of spandex fibers in healthcare and a shift towards bio-based products, presenting new opportunities.

The Asia-Pacific region currently holds the largest market share, with countries such as China, India, and Japan leading the demand due to their robust textile industries. China, as a major global player, is expanding its production capacities to reduce import dependence, while also being a significant market for automotive and paints and coatings industries. The region's dominance is further supported by its substantial textile exports, with China, the European Union, and India being the top exporters globally. Despite the economic challenges in Europe, the Asia-Pacific region's growth is bolstered by increasing demand for PTMEG in textiles, paints, and coatings. The market is moderately consolidated, with key players like BASF SE, DCC, INVISTA, Sinopec Great Wall, and HYOSUNG holding significant shares.

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Polytetramethylene Ether Glycol (PTMEG) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Thermoplastic Polyurethane (TPU)

      2. 1.1.2 Growing Demand for Apparels and Clothing in Emerging Economies

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Environmental Regulations

      2. 1.2.2 Slowdown in the European Economy

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Application

      1. 2.1.1 Polyurethane Fibers (Spandex)

      2. 2.1.2 Thermoplastic Urethane Elastomers

      3. 2.1.3 Other Applications

    2. 2.2 By End-user Industry

      1. 2.2.1 Paints and Coatings

      2. 2.2.2 Automotive

      3. 2.2.3 Textiles

      4. 2.2.4 Other End-user Industries

    3. 2.3 By Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 ASEAN Countries

        6. 2.3.1.6 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East and Africa

Polytetramethylene Ether Glycol (PTMEG) Market Size FAQs

The Polytetramethylene Ether Glycol (PTMEG) Market is projected to register a CAGR of 5.27% during the forecast period (2024-2029)

BASF SE, INVISTA, HYOSUNG, Sinopec Great Wall Energy Chemical (Ningxia) Co. Ltd and DCC (Dairen Chemical Corporation) are the major companies operating in the Polytetramethylene Ether Glycol (PTMEG) Market.

Polytetramethylene Ether Glycol (PTMEG) Market Report Snapshots

PTMEG Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)