Selbyville, Delaware, Jan. 12, 2023 (GLOBE NEWSWIRE) —
The polytetramethylene ether glycol market valuation is projected to reach USD 5 billion by 2032, as reported in a research study by Global Market Insights Inc.
Rising EV adoption, attributed to increasing favorable government initiatives to enhance environmental quality and reduce reliance on crude oil across major regions, is expected to boost co-polyester-ether elastomer (COPE) production. Rubber alternatives and stringent emission rules & standards in developed nations will drive the polyester-ether elastomers (COPE) market’s expansion. Additionally, advancements in the thermoplastic elastomer processing industry, as well as an increase in demand for medical elastomers, are proliferating the demand for co-polyester-ether elastomers (COPE) and polytetramethylene ether glycols.
The spandex segment of the polytetramethylene ether glycol market is likely cross USD 3.5 billion by 2032. Spandex fabric is combined with cotton and wool to produce hiking pants, casual wear, home furnishings, and undergarments. The upsurge in sports and leisure activities represents the growing trend of sportswear applications such as gym apparel, sports jerseys, and other activity gear. Sportwear producers’ increased inclination to produce durable, comfortable, and stylish minimalist apparel by using appropriate materials and fibers is impacting the business growth.
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The coatings segment is projected to expand at over 7.5% CAGR through 2032. PTMEG-based solution coatings are employed in floor, roof, wire & cable, aqueous, radiation-curable, fabric, aerospace, pipe, concrete, and vinyl applications. The increased demand for housing in suburban cities is predicted to influence polytetramethylethylene ether glycol market growth. Furthermore, PTMEG is ideal for aqueous or radiation-curable coatings on wood or plastic surfaces. PTMEG-based coatings’ favorable features increase the production of breathable waterproof fabrics and garments.
North America polytetramethylene ether glycol market valuation to exceed USD 750 billion by 2032. The rapidly expanding product applications in textiles, adhesives & sealants, coatings, and automotive sectors are all contributing to the industry’s development across the region. Also, the increased demand for elastomers, such as PU, in the electrical and electronics, packaging, and construction sectors is expected to produce significant revenue for the regional market.
BASF SE, Formosa Asahi Spandex, Jianfeng Chemical, Dupont de Nemours, Inc., Mitsubishi Chemical Corporation, Invista, Dairen Chemical Corporation, Korea PTG Co., Ltd., Sipchem, Shanxi Sanwei Group Co., Ltd., and Sanlong New Materials are dominating the polytetramethylene ether glycol market. These companies are focusing on various strategies like acquisitions, new product launches, development, etc.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Polytetramethylene ether glycol (PTMEG) industry 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Application trends
2.1.3 End User trends
2.1.4 Regional trends
Chapter 3 Polytetramethylene ether glycol (PTMEG) Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.2.1 Impact of COVID-19 outbreak
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Industry megatrends
3.6 Industry impact forces
3.6.2 Industry pitfalls and challenges
3.7 Regulatory landscape
3.8 Growth potential analysis
3.9 Pricing analysis
3.10 Porter’s analysis
3.11 PESTLE analysis
3.12 COVID-19 impact on polytetramethylene ether glycol (PTMEG) demand by end user
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.