H1 2023: In H1 2023, Asia Pacific region was the leading consumer of Polytetramethylene Ether Glycol (PTMEG). Asia Pacific PTMEG market experienced mixed dynamics characterized by sluggish demand and fluctuating prices of the feedstock, tetrahydrofuran. The initial half of Q1 2023 depicted a subdued pricing trend for PTMEG. Notably, stock levels remained low due to the supply constraints. The pricing of the feedstock, tetrahydrofuran, in the Chinese market played a pivotal role in determining the cost dynamics of PTMEG. Asia-Pacific PTMEG market witnessed fluctuating dynamics even in Q2 2023 due to uneven demand and variable feedstock (tetrahydrofuran) costs in the regional market. The first half of the quarter revealed the weakened price dynamics of PTMEG. The cost of feedstock (tetrahydrofuran) in the Chinese market played a crucial role in influencing the production costs of PTMEG. However, inventories were low, resulting in a supply shortage in second half of Q2 2023. The Chinese market exhibited a slower operational rate amid the Labour Day celebration in China. Inventories were nevertheless sufficient in the Chinese market. The efficiency rate within China was low, contributing to a sluggish revenue outlook for the product from end-use manufacturing units.
The global Polytetramethylene Ether Glycol (PTMEG) market stood at approximately 350 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 6.57% during the forecast period until 2032. PTMEG, a waxy, white solid, transforms into a transparent, colorless, viscous liquid at room temperature. PTMEG is produced through the catalytic polymerization of tetrahydrofuran (THF). It finds application in the manufacturing of spandex (polyurethane) fibers, polyurethane elastomers, polyester-ether elastomers, and various other products. The polymerization of tetrahydrofuran (THF) is employed in the production process of PTMEG.
Polytetramethylene Ether Glycol is employed in the textile sector where it imparts crucial elasticity and stretchability, making it indispensable in the textile and apparel sector. Additionally, PTMEG serves as a key raw material in the manufacturing of polyurethane elastomers, finding use in synthetic leather, adhesives, coatings, and sealants. The polymer's contribution extends to the production of polyester-ether elastomers, known for their excellent durability, flexibility, and resistance to chemicals, making them suitable for various applications in automotive components and industrial parts. PTMEG's adhesive properties make it a valuable component in adhesives and sealants, enhancing their overall performance and durability. Its incorporation in coatings improves flexibility, adhesion, and wear resistance, making it a sought-after ingredient in the coatings industry. Moreover, PTMEG has applications in the medical field, where its flexibility and biocompatibility make it suitable for certain medical device manufacturing. Beyond its individual applications, PTMEG stands out for its ability to contribute to the development of materials with enhanced mechanical properties, meeting diverse industrial needs and fostering innovation across sectors.
The paints and coatings industry is the key market driver of Polytetramethylene Ether Glycol (PTMEG) market. Renowned for its exceptional flexibility, adhesion, and wear resistance, PTMEG serves as a pivotal ingredient in the formulation of high-performance coatings. Its unique properties position it as a driving force behind the development of coatings capable of withstanding dynamic conditions without compromising structural integrity. Moreover, PTMEG significantly contributes to the adhesion properties of coatings, ensuring robust bonding to substrates. This characteristic is pivotal in delivering coatings with prolonged durability, especially in challenging environments exposed to various external factors. The wear-resistant nature of PTMEG-infused coatings emerges as a factor, offering superior protection against abrasion and extending the service life of coated surfaces. The rising demand for products like spandex fibers, polyurethanes, and thermoplastic polyurethane (TPU) plays a pivotal role in stimulating the PTMEG market. The textile industry, in particular, experiences substantial growth due to evolving fashion trends and changing lifestyles, thereby positively impacting the demand for PTMEG as a vital component in the production of spandex fibers. Moreover, the increasing demand for high-performance elastomers and TPU in industries such as automotive further drives the need for PTMEG. As a key raw material in these applications, PTMEG contributes to the development of advanced materials with diverse industrial applications. The global Polytetramethylene Ether Glycol (PTMEG) market size is anticipated to reach nearly 670 thousand tonnes by 2032.
Geographically, Asia-Pacific region is the dominating the PTMEG market. The Asia-Pacific region is poised for dominant market presence in the Polytetramethylene Ether Glycol (PTMEG) sector throughout the forecast period. Serving as a pivotal global manufacturing hub, particularly in nations such as China and India, the region exhibits robust industrialization and manufacturing capabilities, resulting in significant PTMEG production. This dominance is further underscored by the escalating demand for PTMEG across critical end-use sectors, including textiles, automotive, and elastomers, driven by the imperative for spandex fibers, polyurethanes, and thermoplastic polyurethane (TPU). The substantial and evolving population in the region, complemented by dynamic consumer trends, fuels the uptake of PTMEG-based materials. Moreover, strategic investments in research and development initiatives, coupled with favorable economic conditions, strategically position the Asia-Pacific market as a central force in shaping the trajectory of the global PTMEG landscape.
Based on the end-user industry, the global Polytetramethylene Ether Glycol (PTMEG) market is divided into Paints & Coatings, Textile, Automotive, Artificial Leather, and Others. However, Paints & Coatings industry dominates the global Polytetramethylene Ether Glycol (PTMEG) market followed by Textile sector . In 2022, Paints & Coatings industry consumed roughly 38% of the net PTMEG market.
Major players in the Global Polytetramethylene Ether Glycol (PTMEG) market are BASF SE, Chang Chun Group, Hyosung Corporation, INVISTA, Korea PTG, LyondellBasell Industries Holdings BV, Mitsubishi Chemical Corporation, Shanxi Sanwei Group Co. Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polytetramethylene Ether Glycol (PTMEG) which covers production, demand and supply of Polytetramethylene Ether Glycol (PTMEG) market in the globe.
• To analyse and forecast the market size of Polytetramethylene Ether Glycol (PTMEG)
• To classify and forecast Global Polytetramethylene Ether Glycol (PTMEG) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polytetramethylene Ether Glycol (PTMEG) market in the globe.
To extract data for Global Polytetramethylene Ether Glycol (PTMEG) market, primary research surveys were conducted with Polytetramethylene Ether Glycol (PTMEG) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polytetramethylene Ether Glycol (PTMEG) market over the coming years.
ChemAnalyst calculated Polytetramethylene Ether Glycol (PTMEG) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polytetramethylene Ether Glycol (PTMEG). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polytetramethylene Ether Glycol (PTMEG) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polytetramethylene Ether Glycol (PTMEG) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polytetramethylene Ether Glycol (PTMEG) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polytetramethylene Ether Glycol (PTMEG) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
352 thousand tonnes
Market size Volume in 2032
670 thousand tonnes
Growth Rate
CAGR of 6.57% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paints & Coatings, Textile, Automotive, Artificial Leather, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Polytetramethylene Ether Glycol (PTMEG) in terms of volume in 2022?
Ans:
The global market size of Polytetramethylene Ether Glycol (PTMEG) had reached approximately 352 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Polytetramethylene Ether Glycol (PTMEG)?
Ans:
Asia Pacific region is the leading consumer of Polytetramethylene Ether Glycol (PTMEG) globally.
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