The new report by Expert Market Research titled, ‘Global 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) and Spandex Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the Global BDO, PTMEG and Spandex market, assessing the market based on its product type and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2026)
• Historical Market Size (2020): USD 16.4 billion
• Forecast CAGR (2021-2026): 7.6%
• Forecast Market Size (2026): USD 25.5 billion
The global BDO, PTMEG and Spandex market witnessed modest growth in the historical period, due to increased need for stretchable fabric in different textile applications, fueled by growing awareness of sports, health, and fitness, and subsequently, the apparels along with it.
Industry Definition and Major Segments
Polytetramethylene Ether Glycol (PTMEG) is a linear polymer formed by the acid-catalyzed polymerisation of tetrahydrofuran (THF). It is mainly utilised in the production of elastomeric polyurethane fibres such as spandex. PTMEG is a tetrahydrofuran polymer or a polyether formed from 1,4-butanediol because THF is made by the acid-catalyzed dehydration of 1,4-butanediol (BDO), which is one of the most extensively used industrial process for THF manufacturing.
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By product type, the market is segmented into:
• 1,4-Butanediol (BDO)
• Polytetramethylene Ether Glycol (PTMEG)
• Spandex
The regional market for BDO, PTMEG and Spandex includes:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Globally, the Asia Pacific holds the largest market share, and in the forecast period this region will continue to dominate the market shares. Rising population, increasing demand for health and fitness apparel, low-cost manufacturing setups due to cheap labour, are some of the key drivers propelling this region’s market in the forecast period. The North America and European regions are anticipated to attract investors for novel manufacturing techniques, to attain sustainable production standards. South America and the Middle East and African regions are also expected to showcase decent CAGR growth in the forecast period.
Increased adoption of new technology and growing textile industry is anticipated to fuel the market growth. Other factors driving to the market’s growth include increased demand for higher-quality stretch fabric in a variety of applications, changing lifestyles, an increase in sport activities around the world, and rising disposable income. Another important factor is that 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG), and spandex are biodegradable polymers used to make thermoplastic polyurethane. The increase in polyurethane consumption fuel, will assist the targeted market growth at the same time. With growing demand from alternative markets like automotive sector, the market is expected to grow in the forecast period.
However, stringent government policies regarding the controlled use of carcinogenic materials like BDO, to manufacture PTMEG and Spandex can inhibit the growth of the market. Fluctuating raw material costs, availability of alternative options may limit the market’s growth in the forecast period.
Key Market Players
The major players in the global market involve Mitsui Chemicals, Inc., BASF SE, Saudi International Petrochemical Company, DuPont de Nemours, Inc. (NYSE: DD), Ashland Global Specialty Chemicals Inc., LyondellBasell Industries N.V., BioAmber Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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