1,4-BDO, PTMEG & Spandex Market Size Worth $24.59 Billion By 2025

1,4-BDO, PTMEG & Spandex Market Growth & Trends

The global 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market size is expected to reach USD 24.59 Billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.8% during the forecast period. Rapid industrialization and exponential GDP growth in emerging markets such as India, Mexico, Brazil, Indonesia, and Thailand is expected to boost the growth.

Moreover, increasing sports activities and consumer awareness regarding fitness and healthy lifestyles is estimated to drive the market growth over the projected period. Emerging markets from Asia and South America such as China, India, and Brazil are registering high industrial output due to increased economic activity, driving growth of the manufacturing sector.

Most BDO processors are increasingly focusing on sustainable Good Manufacturing Practices (GMPs) and trying to increase efficacy, conserve resources, and utilize available resources in an optimal manner. These initiatives are expected to further boost the global BDO market over the forecast period.

Increasing environmental concerns and depletion of non-renewable resources such as crude oil and natural gas have spurred the development of numerous innovative sustainable technologies that utilize bio-based, renewable resources for BDO and spandex production. Extensive R&D activities and requirement to develop product differentiation are projected to lead to high levels of competition in the market.

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1,4-BDO, PTMEG & Spandex Market Report Highlights

• THF accounted for the largest market share of 49.47% in 2018 and is estimated to continue its dominance over the forecast period owing to rising use of the product for production of PTMEG that is a polymer extensively utilized for manufacturing urethane elastomers and fibers

• PBT was the second largest application segment with a market share of 22.19% in 2018 and is estimated to expand at healthy CAGR in near future owing to growing demand from end-use industries such as automotive and electrical appliance

• Spandex is the largest application sector for PTMEG, expanding at a CAGR of over 8.2% in terms of volume over the forecast period, owing to high demand for the production of flexible sports apparel and textiles coupled with increasing healthcare standards across the globe

• Textile accounted for the largest market share in 2018 and is estimated to expand at 8.2% CAGR over the forecast period owing to product innovation and development of non-woven textiles

• Saudi International Petroleum Company (Sipchem) is a chemical manufacturing company which is now globally recognized as a chemical manufacturer. The company manufactures markets methanol, butanediol, tetrahydrofuran, acetic acid, acetic anhydride, vinyl acetate monomer, as well as carbon monoxide through its various affiliates

1,4-BDO, PTMEG & Spandex Market Segmentation

Grand View Research has segmented the global 1,4-butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG), and spandex market on the basis of application and region:

BDO Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

• Tetrahydrofuran (THF)

• Polybutylene Terephthalate (PBT)

• Gamma-Butyrolactone (GBL)

• Polyurethane (PU)

• Others

PTMEG Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

• Spandex

• Copolyester-Ether Elastomers (COPE)

• Urethanes

• Others

Spandex Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

• Textiles

• Medical & Hygiene

• Automotive Interiors

• Others

Region Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

• North America

  • U.S.

• Europe

  • Germany

  • U.K.

  • France

  • Turkey

• Asia Pacific

  • China

  • India

  • Japan

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia