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.
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Polytetramethylene Ether Glycol Market: Strategic Insights
Market Size Value in US$ 4.80 Billion in 2023 Market Size Value by US$ 7.34 Billion by 2031 Growth rate CAGR of 5.5% from 2023 to 2031 Forecast Period 2023-2031 Historic Period 2021-2022
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Polytetramethylene Ether Glycol Market: Strategic Insights
| Market Size Value in | US$ 4.80 Billion in 2023 |
| Market Size Value by | US$ 7.34 Billion by 2031 |
| Growth rate | CAGR of 5.5% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Historic Period | 2021-2022 |
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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