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Polytetrahydrofuran (PTMEG) Market Size, Share & Trends 2031

Polytetrahydrofuran Market

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Segments - by Types (Petro-based Poly THF, Bio-based Poly THF), By Applications (Thermoplastic polyurethane elastomers, Polyurethanes (Spandex) fibers, Co-polyester ether elastomers) By End- Users (Paints & Coatings, Textiles, Adhesives and Sealants, Artificial Leather, Leisure and Sports and Others) and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Report ID: MC-126
Author: Growth Market Reports

Rating: 4.8
Total Reviews: 61

No. Of Pages: 123
Format:

Pub. Date: 2020-11-10
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Report Description

The global polytetrahydrofuran market was valued at USD 2.94 Billion in 2022 and is projected to reach USD 4.04 Billion by 2031, expanding at a CAGR of 3.6% during the period 2023-2031. Polytetrahydrofuran (PTMEG) is a type of polycol formed with the repeated material [–CH2 (CH2)3O–] from tetrahydrofuran (THF). Polytetrahydrofuran (PTMEG) are formed by the catalyst polymerization of tetrahydrofuran and are known as poly tetramethylene ether glycol or poly tetramethylene oxide.

This is readily soluble in ketones, chlorinated hydrocarbons, insoluble in fatty hydrocarbons or liquid alcohols, aromatic, and esters. The solubility decreases as its molecular weight increases. PTMEG becomes white waxy solid at room temperature. Elastic fibers, such as elastane (spandex), which are employed for extendable fabrics and polyurethane resins are primary applications of polytetrahydrofuran.

They are used in artificial leather manufacturing. The industry concentration of polytetrahydrofuran (PTMEG) is minimal; less than 50 producers worldwide are involved and the high-end products come primarily from the US, Germany, Taiwan, and Japan. PTMEG is used for making elastic textiles such as swimsuits, support hoses, sock tops, weatherproof clothing, athletic apparel, roller skates, skateboards, footwear, and medical equipment.

Market Dynamics

Drivers

Rise in Use of Polytetrahydrofuran in automobile industry

The automobile industry is expected to be one of the rapidly growing industry in the near future, owing to the rise in the demand for the automobiles, across the world. Polytetrahydrofuran (PTMEG) are used in the manufacturing of seat covers and are also used for the coating the surfaces. The polytetrahydrofuran are elastic and resilient, which helps in retaining the shape of the seat covers.

These are some of the factors, which has led to the rise in the adoption of the Polytetrahydrofuran (PTMEG) in the automobile industry. Materials such as Polytetrahydrofuran (PTMEG), acrylonitrile butadiene styrene (ABS), polystyrene, and polyethylene, are used as key materials in manufacturing of seat belts in the automobile industry. The polyterahydrofuran (PTMEG), also finds its application in decorations of the automobiles, which are some of the factors, which boost the demand for the polytetrahydrofuran (PTMEG).

The polytetrahydrofuran PTMEG are also used in the manufacturing of the cover of the gear shift knobs. The rising popularity among the consumers for the decoration of the interiors of the cars are some of the factors, which contributes for the demand for Polytetrahydrofuran (PTMEG).

Growing Fashion Industry in Emerging Countries
Several emerging economies such as China, India, Indonesia, Taiwan, and Thailand in Asia Pacific are adopting western cultures, including fashion. This has substantially fueled the demand for lycra, and stretchable clothing, in the region. The Polytetrahydrofuran is used in the manufacturing of spandex thread, which are used in the manufacturing of stretchable clothes.

China is a leading hub for the manufacture of spandex thread, thus fueling the expansion of the fashion industry in the region. High production of spandex based clothes in the region is boosting the need for polytetrahydrofuran among manufacturers.

Restrains

Implementation of Regulations on Chemicals

Increase in implementation of stringent government policies preventing the of chemicals is a key constraint of the polytetrahydrofuran market. Furthermore, rising environmental concerns such as health hazard related to the usage of polytetrahydrfuran in manufacturing and chemical industries hinders the growth of the market. Exposure to polytetrahydrofuran leads to headache, irritation in the respiratory tract. These are some of the factors, hampers the use of polytetrahydrofuran among the textile and automobile industries.

Segmental Outlook

Based on types, the market is bifurcated into petro-based poly THF and bio-based poly THF. The petro-based poly THF segment accounted for 88.9% share of the market in 2019. The rapid growth of this segment is attributed to the petro-based poly THF is extensively used in various industries such as clothing, footwear, medical equipment, and sports equipment. Rising environmental awareness is expected to increase the demand for petro-based poly THF.

In terms of applications, the polytetrahydrofuran market is segregated into thermoplastic polyurethane elastomers, polyurethanes (Spandex) fibers, and co-polyester ether elastomers. Co-polyester ether elastomers segment is anticipated to expand at a CAGR of 4.0% during the forecast period. Co-polyester ether elastomer is used to manufacture solid pipes and other car parts, along with other heat, chemicals, and fuel resistance applications.

In terms of end-users, the market is divided into paints & coatings, textiles, adhesives & sealants, artificial leather, leisure & sports, and others. The textile segment is anticipated to expand at a CAGR of 3.4% during the forecast period. Rising demand for the polytetrahydrofuran (PTMEG), in the textile industry is one of the major factors, which contributes for the growth of the segment.

Regional Outlook

In terms of regions, the global polytetrahydrofuran market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted one third share in 2020. The market in the Asia Pacific is projected to expand at a CAGR of 3.3% during the forecast period. Increasing demand for polytetrahydrofuran in the food packaging and plastic industry in the region to manufacture products such as Polytetrahdrofuran and PVC film casting contributes for the demand for the Polytetrahydrofuran (PTMEG) in the region.

Competitive Landscape

Key players in the market include BASF SE, Dairen Chemical, Mitsubishi Chemical Corporation, INVISTA, HYOSUNG CHEMICAL, Shanxi Sanwei Group,Co Ltd, China Petrochemical Corporation, Hangzhou Sanlong New Materials Co,Ltd, Chongqing Jianfeng Industrial Group, Co, Ltd, Sichuan Tianhua Co,Ltd, and Shaanxi Shaanhua Coal Industry Group, Co,Ltd . These companies are considered manufacturers of Polytetrahydrofuran market based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the is added in the company’s capacity.
For instance, In June 2015, IN 2015, NASF SE started manufacturing bio based PMTEG. This action of the company helps them to expand product portfolio which helps to increase the market size of the company.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the Global Polytetrahydrofuran market
Historical, Current and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Polytetrahydrofuran market Performance

Segments

By Types

Petro-based Poly THF
Bio-based Poly THF

By Applications

Thermoplastic polyurethane elastomers
Polyurethanes (Spandex) fibers
Hos Co-polyester ether elastomers

By End-users

Paints and Coatings
Textiles
Adhesives and Sealants
Artificial Leather
Leisure and Sports
Others

By Region

North America
- US
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- U.K.
- France
- France
- Germany
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia
- Rest of Asia Pacific
Middle East & Africa (MEA)
- GCC
- Turkey
- Rest of Middle East & Africa

Key Market Players Profiled in the Report

BASF SE
China Petrochemical Corporation
Chongqing Jianfeng Industrial Group,Co.Ltd
Dairen Chemical Corporation
Hangzhou Sanglong New Materials Co,Ltd
HYOSUNG CHEMICAL
INVISTA
Mistubishi Chemical Corporation
Shaanxi Shaanhua Coal Chemical Industry Group Co,Ltd
Shanxi Sanwei Group Co., Ltd
Sichuan Tianhua Co, Ltd

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Polytetrahydrofuran (PTMEG) Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Polytetrahydrofuran (PTMEG) Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Polytetrahydrofuran (PTMEG) Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Polytetrahydrofuran (PTMEG) Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Polytetrahydrofuran (PTMEG) Market Size & Forecast, 2017-2027
      4.5.1 Polytetrahydrofuran (PTMEG) Market Size and Y-o-Y Growth
      4.5.2 Polytetrahydrofuran (PTMEG) Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, By Types, 2017-2027
Chapter 5 Global Polytetrahydrofuran (PTMEG) Market Analysis and Forecast By Types
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Types
      5.1.2 Basis Point Share (BPS) Analysis By Types
      5.1.3 Absolute $ Opportunity Assessment By Types
   5.2 Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Types
      5.2.1 Petro-based Poly THF
      5.2.2 Bio-based Poly THF
   5.3 Market Attractiveness Analysis By Types
Chapter 6 Global Polytetrahydrofuran (PTMEG) Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Application
      6.2.1 Thermoplastic Polyurethane elastomers
      6.2.2 Polyurethanes (Spandex Fibers)
      6.2.3 Co-polyester ether elastomers
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Polytetrahydrofuran (PTMEG) Market Analysis and Forecast By End-Use
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By End-Use
      7.1.2 Basis Point Share (BPS) Analysis By End-Use
      7.1.3 Absolute $ Opportunity Assessment By End-Use
   7.2 Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By End-Use
      7.2.1 Paints and Coatings
      7.2.2 Textiles
      7.2.3 Adhesives and Sealents
      7.2.4 Artificial Leather
      7.2.5 Leisure and Sports
      7.2.6 Others
   7.3 Market Attractiveness Analysis By End-Use
Chapter 8 Global Polytetrahydrofuran (PTMEG) Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Polytetrahydrofuran (PTMEG) Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Polytetrahydrofuran (PTMEG) Analysis and Forecast
   10.1 Introduction
   10.2 North America Polytetrahydrofuran (PTMEG) Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
      10.2.3 Mexico
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Types
      10.6.1 Petro-based Poly THF
      10.6.2 Bio-based Poly THF
   10.7 Basis Point Share (BPS) Analysis By Types
   10.8 Absolute $ Opportunity Assessment By Types
   10.9 Market Attractiveness Analysis By Types
   10.10 North America Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Application
      10.10.1 Thermoplastic Polyurethane elastomers
      10.10.2 Polyurethanes (Spandex Fibers)
      10.10.3 Co-polyester ether elastomers
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
   10.14 North America Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By End-Use
      10.14.1 Paints and Coatings
      10.14.2 Textiles
      10.14.3 Adhesives and Sealents
      10.14.4 Artificial Leather
      10.14.5 Leisure and Sports
      10.14.6 Others
   10.15 Basis Point Share (BPS) Analysis By End-Use
   10.16 Absolute $ Opportunity Assessment By End-Use
   10.17 Market Attractiveness Analysis By End-Use
Chapter 11 Europe Polytetrahydrofuran (PTMEG) Analysis and Forecast
   11.1 Introduction
   11.2 Europe Polytetrahydrofuran (PTMEG) Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Russia
      11.2.6 Turkey
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Types
      11.6.1 Petro-based Poly THF
      11.6.2 Bio-based Poly THF
   11.7 Basis Point Share (BPS) Analysis By Types
   11.8 Absolute $ Opportunity Assessment By Types
   11.9 Market Attractiveness Analysis By Types
   11.10 Europe Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Application
      11.10.1 Thermoplastic Polyurethane elastomers
      11.10.2 Polyurethanes (Spandex Fibers)
      11.10.3 Co-polyester ether elastomers
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
   11.14 Europe Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By End-Use
      11.14.1 Paints and Coatings
      11.14.2 Textiles
      11.14.3 Adhesives and Sealents
      11.14.4 Artificial Leather
      11.14.5 Leisure and Sports
      11.14.6 Others
   11.15 Basis Point Share (BPS) Analysis By End-Use
   11.16 Absolute $ Opportunity Assessment By End-Use
   11.17 Market Attractiveness Analysis By End-Use
Chapter 12 Asia Pacific Polytetrahydrofuran (PTMEG) Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Polytetrahydrofuran (PTMEG) Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 South East Asia
      12.2.5 South East Asian Countries
      12.2.6 India
      12.2.7 Australia
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Types
      12.6.1 Petro-based Poly THF
      12.6.2 Bio-based Poly THF
   12.7 Basis Point Share (BPS) Analysis By Types
   12.8 Absolute $ Opportunity Assessment By Types
   12.9 Market Attractiveness Analysis By Types
   12.10 Asia Pacific Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Application
      12.10.1 Thermoplastic Polyurethane elastomers
      12.10.2 Polyurethanes (Spandex Fibers)
      12.10.3 Co-polyester ether elastomers
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
   12.14 Asia Pacific Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By End-Use
      12.14.1 Paints and Coatings
      12.14.2 Textiles
      12.14.3 Adhesives and Sealents
      12.14.4 Artificial Leather
      12.14.5 Leisure and Sports
      12.14.6 Others
   12.15 Basis Point Share (BPS) Analysis By End-Use
   12.16 Absolute $ Opportunity Assessment By End-Use
   12.17 Market Attractiveness Analysis By End-Use
Chapter 13 Latin America Polytetrahydrofuran (PTMEG) Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Polytetrahydrofuran (PTMEG) Market Size Forecast by Country
      13.2.1 Brazil
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Types
      13.6.1 Petro-based Poly THF
      13.6.2 Bio-based Poly THF
   13.7 Basis Point Share (BPS) Analysis By Types
   13.8 Absolute $ Opportunity Assessment By Types
   13.9 Market Attractiveness Analysis By Types
   13.10 Latin America Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Application
      13.10.1 Thermoplastic Polyurethane elastomers
      13.10.2 Polyurethanes (Spandex Fibers)
      13.10.3 Co-polyester ether elastomers
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
   13.14 Latin America Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By End-Use
      13.14.1 Paints and Coatings
      13.14.2 Textiles
      13.14.3 Adhesives and Sealents
      13.14.4 Artificial Leather
      13.14.5 Leisure and Sports
      13.14.6 Others
   13.15 Basis Point Share (BPS) Analysis By End-Use
   13.16 Absolute $ Opportunity Assessment By End-Use
   13.17 Market Attractiveness Analysis By End-Use
Chapter 14 Middle East & Africa (MEA) Polytetrahydrofuran (PTMEG) Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Polytetrahydrofuran (PTMEG) Market Size Forecast by Country
      14.2.1 GCC
      14.2.2 Egypt
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Types
      14.6.1 Petro-based Poly THF
      14.6.2 Bio-based Poly THF
   14.7 Basis Point Share (BPS) Analysis By Types
   14.8 Absolute $ Opportunity Assessment By Types
   14.9 Market Attractiveness Analysis By Types
   14.10 Middle East & Africa (MEA) Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By Application
      14.10.1 Thermoplastic Polyurethane elastomers
      14.10.2 Polyurethanes (Spandex Fibers)
      14.10.3 Co-polyester ether elastomers
   14.11 Basis Point Share (BPS) Analysis By Application
   14.12 Absolute $ Opportunity Assessment By Application
   14.13 Market Attractiveness Analysis By Application
   14.14 Middle East & Africa (MEA) Polytetrahydrofuran (PTMEG) Market Size & Volume Forecast By End-Use
      14.14.1 Paints and Coatings
      14.14.2 Textiles
      14.14.3 Adhesives and Sealents
      14.14.4 Artificial Leather
      14.14.5 Leisure and Sports
      14.14.6 Others
   14.15 Basis Point Share (BPS) Analysis By End-Use
   14.16 Absolute $ Opportunity Assessment By End-Use
   14.17 Market Attractiveness Analysis By End-Use
Chapter 15 Competition Landscape
   15.1 Polytetrahydrofuran (PTMEG) Market: Competitive Dashboard
   15.2 Global Polytetrahydrofuran (PTMEG) Market: Market Share Analysis, 2019
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      15.3.1 BASF SE
      15.3.2 Dairen Chemical Corporation
      15.3.3 Mitsubishi Chemical Corporation
      15.3.4 INVISTA
      15.3.5 HYOSUNG CHEMICAL
      15.3.6 Shanxi Sanwei Group Co,Ltd
      15.3.7 China Petrochemical Corporation
      15.3.8 Hangzhou Sanlong New Materials Co,Ltd
      15.3.9 Chongqing Jianfeng Industrial Group Co,Ltd
      15.3.10 Sichuan TianhuaCo., Ltd
      15.3.11 Shaanxi Shaanhua Coal Chemical Industry Group Co., Ltd.

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FAQ Section

Some frequently asked quetions about this report!

1. Can I ask for different company profiles?

Additional company profiles can be provided on request.

2. Does this report also cover product specific details?

Yes, the report covers product specific information such as Petro-based Poly THF), Bio-based Poly THF, etc.

3. How big will be the Polytetrahydrofuran market in 2027?

According to this Growth Market Reports report, the market from Polytetrahydrofuran market shall probably to register a CAGR of 3.6% during forecast period 2020-2027, with an anticipated valuation of USD 3,437.29 million by the end of the 2027.

4. What are the criteria used for selecting company profile?

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

5. What are the factors driving the growth of Polytetrahydrofuran market?

The rising demand for polytetrahydrofuran in several automobiles for manufacturing of seats and belts has led to the rise in the demand for polytetrahydrofuran, these are expected to drive the market growth during forecast period.

6. What is the application driving the market growth?

Paints and Coatings, Textiles, Adhesives and Sealants are the key application that are driving the Polytetrahydrofuran market.

7. What is the impact of COVID-19 on the overall market during year 2019 -2020?

The market is expected to project a growth of over 2.5% between 2019 and 2020 owing to the negative impact of COVID-19 pandemic on the polytetrahydrofuran market. The rising adoption of polytetrahydrofuran (PTMEG) by textile manufacturers boost the growth of the segment.

8. Which is the base year calculated in the global Polytetrahydrofuran market report and what is analysis period?

The base year considered for the global Polytetrahydrofuran market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.