Polytetramethylene Ether Glycol (PTMEG) Market - Segmented by End-user Industry, Application, and Region - Growth, Trends, and Forecast (2019 - 2024)

Polytetramethylene Ether Glycol (PTMEG) Market - Segmented by End-user Industry, Application, and Region - Growth, Trends, and Forecast (2019 - 2024)

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Polytetramethylene Ether Glycol (PTMEG) market is expected to register a high CAGR during the forecast period, 2018 - 2023. The market is driven by the increasing demand for thermoplastic polyurethane, along with the growing demand for Apparels and Clothing in the emerging economies. In 2017, Asia-Pacific region dominated the global market.

Growing Demand for Apparels and Clothing in Emerging Economies

The textile industry grew at a healthy rate in emerging economies like ASEAN, Canada, etc., despite the economic slowdown at the global level, and is expected to continue the upward trend over the forecast period. This is majorly due to low switching costs, and the significant role of the industry in terms of trade, employment, investment, and revenue. The global apparel industry is currently valued at USD 3 trillion and accounts for around 2% of the global GDP.

Indonesia is among the top 10 textile producing nations in the world. The country is also the 12th largest textile and apparel exporters with major exporting destinations include the United States, EU and Middle-East. Vietnam is the 3rd largest garment exporters with major exporting destinations include the United States, EU, Japan and South Korea. The country is also an apparel exporter with 17% exports in 2017. The top export destination for apparel is China and Bangladesh. Thus, the rapid growth of apparels market in developing economies is expected to majorly drive the market for PTMEG during the forecast period.

Automotive Industry - A Huge Potential

The demand for light-weight automotive vehicles is becoming increasingly important in recent times. As a result, environmentally-friendly automotive technologies should be incorporated into the cars to ensure high energy savings along with low CO2 emission. This has led to the rapid development of light-weight technologies for a large variety of automotive applications, in particular, to achieve novel structural adhesives that can replace welding and riveting processes. These positive effects are the result of increased homogeneity in the distribution of stress over the entire automotive surface and better absorption of stress loads in comparison to welding and riveting processes, and also contributing to the enhancement of mechanical and production characteristics of light-weight car bodies. All the aforementioned factors, in turn, expected to increase the demand for the polytetramethylene ether glycol during the forecast period.

Asia-Pacific Region to Dominate the Market

In 2017, the Asia-Pacific region dominated the global market share. Owing to the increasing demand from the Automotive industry coupled with the demand for textiles in countries such as China, India, and Japan, the demand for polytetramethylene ether glycol is increasing in the region. China is a major market for textiles, automotive, and paints & coatings, globally. Companies present in the country, multinationals as well as locals, are expanding their production capacities and investing in new projects to decrease their dependence on imports, thereby fueling the regional energy security and autonomy. China’s 13th Five-year Plan outlined urbanization, which focuses on investments into airports, railways, and water infrastructure. This is definitely going to drive the need for coatings.

China is one of the world’s largest automotive and auto component manufacturing bases. The government of China views its automotive industry, including the auto parts sector, as one of the country’s key industries running the national economy. Other than being a manufacturing hub, China continues to be the world’s largest vehicle market, with sales of over 28 million units in 2017. Hybrid composite materials, with their high weatherability and safety features, are expected to have an increased demand from the automotive industry. Due to these factors, the demand for polytetramethylene ether glycol is likely to increase in the region during the forecast period.

The major players include – BASF SE, Mitsubishi Chemical, INVISTA, Korea PTG, Chang Chun Group, and HYOSUNG, among others.

Polytetramethylene Ether Glycol (PTMEG) Market Report Summary

Metrics

Details

Industry

Polytetramethylene Ether Glycol (PTMEG)  Market

Study Period

(2016 – 2023)

Regions Covered

Asia-Pacific, North America, South America, Europe, and Middle East & Africa

Companies Covered

BASF SE, Mitsubishi Chemical, INVISTA, Korea PTG, Chang Chun Group, Hyosung, and Dairen Chemical Corporation, among others

Report Coverage

Market sizing, key players' strategies, market share analysis, latest trends, and market dynamics

Reasons to Purchase This Report

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Identifying the application that is expected to dominate the market
  • Identifying the region that is expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market share, and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in Excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.

1. Introduction

                1.1 Research Phases

                1.2 Scope of the Report

                1.3 Study Deliverables

2. Executive Summary

3. Market Insights

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness – Porter’s Five Force Analysis

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Consumers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Degree of Competition

                3.3 Technological Snapshot

4. Market Dynamics

                4.1 Drivers

                                4.1.1 Increasing Demand for Thermoplastic Polyurethane (TPU)

                                4.1.2 Growing Demand for Apparels and Clothing in Emerging Economies

                4.2 Restraints                               

                4.3 Opportunities                               

5. Market Segmentation and Analysis (Market size, Growth, and Forecast)

                5.1 By Application

                                5.1.1 Polyurethane Fibers (Spandex)

                                5.1.2 Thermoplastic Urethane Elastomers

                                5.1.3 Co-polyester ether Elastomers (COPE)

                                5.1.4 Other Applications

                5.2 By End-user Industry

                                5.2.1 Paints & Coatings

                                5.2.2 Automotive

                                5.2.3 Textiles

                                5.2.4 Other End-user Industries

6. Regional Market Analysis (Market size, Growth, and Forecast)

                6.1 Asia-Pacific

                                6.1.1 China

                                6.1.2 India

                                6.1.3 Japan

                                6.1.4 South Korea

                                6.1.5 Rest of Asia-Pacific

                6.2 North America

                                6.2.1 United States

                                6.2.2 Canada

                                6.2.3 Rest of North America

                6.3 Europe

                                6.3.1 Germany

                                6.3.2 United Kingdom

                                6.3.3 Italy

                                6.3.4 France

                                6.3.5 Spain

                                6.3.6 Rest of Europe

                6.4 South America

                                6.4.1 Brazil

                                6.4.2 Argentina

                                6.4.3 Rest of South America

                6.5 Middle East & Africa

                                6.5.1 Saudi Arabia

                                6.5.2 South Africa

                                6.5.3 Rest of Middle East & Africa

7. Competitive Landscape

                7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements

                7.2 Market Share Analysis**

                7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)

   8.1 BASF SE

   8.2 Mitsubishi Chemical

   8.3 INVISTA

   8.4 Korea PTG

   8.5 Chang Chun Group

   8.6 Hyosung

   8.7 Dairen Chemical Corporation

   8.8 Shanxi Sanwei

   8.9 Hangzhou Qingyun

   8.10 Sinochem Taicang

   8.11 Sinopec Yizheng

                *( List not exhaustive)

9. Disclaimer

**Subject to availability on public domain

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