Polytetrahydrofuran Market: Overview
- Polytetrahydrofuran is produced from the catalyzed polymerization of tetrahydrofuran. Polytetrahydrofuran or poly (tetramethylene ether) glycol is a white solid waxy substance. It melts at room temperature and forms clear, colorless, and viscous liquid.
- Polytetrahydrofuran is insoluble in water. It is primarily used in the synthesis of polyurethane resins and elastic fibers.
- Polytetrahydrofuran has long shelf life, non-allergenic properties, higher flexibility at low temperatures, and hydrolytic stability. This is anticipated to drive the global polytetrahydrofuran market during the forecast period.
Rise in Demand for Sportswear and Textile to Drive Polytetrahydrofuran Market
- Rise in demand for sportswear and other textiles is driving the demand for polytetrahydrofuran. Increase in consumer preference for durable, inexpensive, and elastic materials is projected to drive the demand for polytetrahydrofuran during the forecast period.
- Growth in the fashion industry in developing economies including China, India, Brazil, and Thailand is expected to fuel the demand for polytetrahydrofuran
- Volatility in prices of raw materials is likely to hamper the global polytetrahydrofuran market in the near future
- Increase in government regulations on the usage of chemicals such as polytetrahydrofuran in material manufacturing is also estimated to restrain the market
- Raw materials used to produce polytetrahydrofuran are facing supply shortages due to the industrial shutdown by the COVID 19 pandemic. Disruption of raw material supply is projected to hamper full-scale operations of companies.
- Economic slowdown triggered by the COVID-19 pandemic has also affected the demand for polytetrahydrofuran, as many manufacturing industries were temporarily shut down. It also impacted product and inventory transportation, as logistic services have been hampered due to the COVID-19 outbreak.
Petro-Based Poly THF Type Segment to Offer Lucrative Opportunities
- Based on type, the global polytetrahydrofuran market can be segmented into petro-based poly THF and bio-based poly THF
- Petro-based poly THF segment is expected to dominate the global polytetrahydrofuran market during the forecast period. This can be ascribed to the increase in consumption of petro-based poly THF in various end-use industries including sport equipment, clothing, medical equipment, and footwear.
- Growth in environmental awareness is expected drive the consumption of bio-based poly THF
Polyurethane Application Segment to Hold Major Share of Market
- Based on application, the global polytetrahydrofuran market can be divided into spandex, polyurethane, copolyester-ether elastomer, and others
- The polyurethane segment is expected to drive the global polytetrahydrofuran market during forecast period
- The copolyester-ether elastomer is projected to expand at a faster pace due to the increase in consumption in solid pipes and various car parts
Textile End-use Segment to Dominate Market
- Based on end-use, the global polytetrahydrofuran market can be classified into paints & coatings, textiles, adhesives & sealants, artificial leather, and others
- The textiles segment is anticipated to dominate the global polytetrahydrofuran market during the forecast period. It is estimated to be followed by the paints & coatings segment.
- The textiles segment is anticipated to expand at a faster pace during the forecast period owing to the increase in demand for polytetrahydrofuran in the textiles industry
Asia Pacific to Constitute Significant Share of Global Polytetrahydrofuran Market
- In terms of region, the global polytetrahydrofuran market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to hold significant share of the global polytetrahydrofuran market in the near future
- Increase in demand for polytetrahydrofuran in plastic and food packaging industries in Asia Pacific countries (including China and India) is anticipated to drive the market in the region. Expansion of the textile industry in Asia Pacific is also likely to boost the polytetrahydrofuran market in the region.
- North America is also anticipated to hold key share of the global polytetrahydrofuran market during the forecast period
- The market in Latin America and Middle East & Africa is projected to expand at a steady pace during the forecast period
Key Players in Market
The global polytetrahydrofuran market was consolidated in 2020. Prominent players operating in the global polytetrahydrofuran market seek to enter into partnership agreements and joint ventures to enter in the domestic markets.
Key players operating in the global polytetrahydrofuran market include:
- BASF SE
- Dairen Chemical Corporation (DCC)
- Mitsubishi Chemicals
- Ashland Inc.
- Korea PT Co., Ltd.
- Shanxi Sanwei Group Co., Ltd.
- Sinopec Yizheng
Global Polytetrahydrofuran Market: Research Scope
Global Polytetrahydrofuran Market, by Type
- Petro-based Poly THF
- Bio-based Poly THF
Global Polytetrahydrofuran Market, by Application
- Copolyester-ether Elastomer
Global Polytetrahydrofuran Market, by End-use
- Paints & Coatings
- Adhesives & Sealants
- Artificial Leather
Global Polytetrahydrofuran Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.