Polytetramethylene Glycol Market: Highlights
- Polytetramethylene Glycol (PTG) is a waxy, white solid that melts into a clear, colorless, viscous liquid near room temperature. PTG is produced by the catalyzed polymerization of tetrahydrofuran (THF). PTG is primarily used in the production of spandex (polyurethane) fibers, polyurethane elastomers, and copolyester-ether elastomers.
- PTG turns into transparent liquid when the temperature is higher than room temperature. It dissolves easily in alcohols, esters, ketones, aromatic hydrocarbons, and hydrocarbon chlorides. However, it does not dissolve in water or fatty hydrocarbons. Solubility of PTG drops when its molecular weight increases.
Key Drivers of Polytetramethylene Glycol Market
- Growth in the textile industry is expected to drive the global PTG market. PTG is used as an ideal softener and lubricant in various procedures to keep the workflow of spinning, printing, and knitting intact. Germany, Spain, France, Italy, and Portugal are at the forefront in the textile industry in the European Union. Expansion in the textile industry is estimated to boost the demand for PTG in the region.
- India is the third-largest textile manufacturing industry and holds an export value of more than US$ 30 Bn. The country accounts for more than 6% of the total textile production globally.
Polytetramethylene Glycol Market: Application Segment
- Based on application, the global PTG market can be segmented into Spandex (polyurethane) fibers, polyurethane elastomers, copolyester-ether elastomers, and others
- The Spandex (polyurethane) fibers segment is projected to account for significant share of the global PTG market during the forecast period. The generic term spandex is used in the U.S., while the term elastane is used in Europe. This elastomeric fiber is used mainly in apparel, including undergarments, hosiery, and athletic outfits. Spandex is also finding acceptance in nonwoven areas such as baby diapers and band aids, as well as in home furnishing applications.
- Expanding at a healthy growth rate, polyurethane elastomers and copolyester-ether elastomers segments are expected to create significant incremental opportunities during the forecast period
- In terms of demand, the others segments is anticipated to expand at a moderate to high pace in the near future
Polytetramethylene Glycol Market: End-use Industry Segment
- Based on end-use industry, the global PTG market can be segmented into paints & coatings, automotive, textiles, and others
- The textile industry has been expanding at a healthy rate in emerging economies such as ASEAN and Canada since the last few years. It is expected to further expand during the forecast period. This can be primarily ascribed to low switching costs and significant role of the industry in terms of trade, employment, investment, and revenue.
- Increase in demand for enhanced quality stretch fabric in various textile applications is driving the demand for PTG across the globe
Polytetramethylene Glycol Market: Covid-19 Impact
- The COVID-19 pandemic has had a negative impact on the global economy. It has adversely affected various industrial sectors by hampering the supply chain. Purchase and consumption behavior has changed significantly across various sectors with months of consumer lockdown and closure of international supply chains and retail businesses. This has adversely impacted the global PTG market.
- The combination of extended lockdowns in developed market economies and domestic social distancing has deepened the adverse impact on emerging market economies. Longer lockdowns led to severe impact on household income, corporations' liquidity, and bank asset quality.
Asia Pacific to be Key Region of Global Polytetramethylene Glycol Market
- In terms of region, the global PTG market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the U.S. aims to promote investments in its end-use industries. This is estimated to boost the PTG market in the country.
- In terms of demand, Asia Pacific held major share of the market in 2019. It was followed by North America and Europe. Asia Pacific is a highly promising region of the global market. This trend is expected to continue in the next few years. The PTG market in Asia Pacific is driven by expansion in textile and paints & coatings industries, increase in consumer spending, and strong economic growth.
- The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding steadily. The market in the UAE also exhibits significant growth. This is projected to drive the demand for PTG in Latin America and Middle East & Africa, respectively, during the forecast period.
Global Polytetramethylene Glycol Market: Research Scope
Key Manufacturers Operating in Market
The global PTG market was highly fragmented in 2019. Key manufacturers operating in the global PTG market include:
- BASF SE
- Chang Chun Group
- KOREA PTG
- Mitsubishi Chemical Corporation
- Shanxi Sanwei Group Co., Ltd
Global Polytetramethylene Glycol Market, by Application
- Spandex (Polyurethane) Fibers
- Polyurethane Elastomers
- Copolyester-ether Elastomers
Global Polytetramethylene Glycol Market, by End-user Industry
- Paints & Coatings
Global Polytetramethylene Glycol 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.