Polytetramethylene Ether Glycol Market size to surpass $5 Bn by 2032

Polytetramethylene Ether Glycol (PTMEG) Market size is anticipated reach USD 5 billion by 2032, according to a new research report 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.
 

Growing inclination towards sports activities to favor spandex application segment growth

The spandex segment of the polytetramethylene ether glycol market 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 industry growth.
 

High demand for housing in suburban regions to spur demand for PTMEG-based solution coatings

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.
 

Browse key industry insights spread across 250 pages with 252 market data tables and  25 figures & charts from the report, “Polytetramethylene Ether Glycol Market Size By Application (Spandex, Thermoplastic Urethane Elastomers, Co-polyester Ether Elastomers, Others), By End-user (Coatings, Adhesives & Sealants, Textiles, Artificial Leather, Automotive, Industrial, Leisure & Sports, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/artificial-intelligence-ai-in-automotive-market
 

Expanding product applications in the textiles and automotive industries will supplement North America market share

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.
 

Acquisition strategies by key participants to define the business outlook

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.