Global 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market by Application (PBT, Textiles, THF, Urethanes) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

The global 1,4 Butanediol market, Polytetramethylene Ether Glycol and spandex market was valued at USD 14.49 million in 2018. It is expected to grow at 7.8% CAGR over the forecast period. The growth is expected to be driven by a growing demand for high-quality stretch fabric in a variety of textile applications. The growth is expected to be driven by a growing number of fitness-related activities and awareness about healthy lifestyles and exercise. Markets in Asia Pacific are expected to expand rapidly due to a population explosion, rising disposable income, as well as developing industries.

The U.S. Tetrahydrofuran (THF), application sector held the largest market share at 50.17% volume in 2018. It is expected to maintain its dominance in the future. This is due to the presence of highly-skilled workers, advanced processing and technology, infrastructure development, and increasing R&D activities. The PBT sector, on the other hand is expected to grow at the fastest rate with a healthy CAGR over the next period.

Initiatives such as the Manufacturing Extension Partnership, a government initiative that assists U.S. companies, offer individually tailored services to help them improve their productivity, economic competability, and technological capabilities. These are expected to contribute significantly to the growth in the 1,4butanediol market .

The projected growth rate will be hampered by fluctuations in raw material prices. New growth opportunities can be created by the production of bio-based raw material such as biosuccinic acids. A rising focus on green chemicals has encouraged key players such as Genomatica, BioAmber and Myriant to create substitutes for biobased routes to derive BDO using sugars or cellulosic inputstock. This is expected to positively impact growth.

In the coming years, market dynamics will be affected by the increased production of BDO from coke. The recent technological trend of developing novel spandex products, such as flat strain curve, fine denier, and 3D Lycra, for the hosiery industry, is expected to boost market growth. Market growth will be impeded by regulatory policies that prevent hazardous and carcinogenic substances, such as 1,4 BDO, GBL, and fine denier, from being used to obtain PTMEG or spandex.

BDO Application Insights

Segmentation of the 1,4-Butanediol market, Polytetramethylene Ether Glycol and spandex markets is based on BDO applications like Tetrahydrofuran(THF), Polybutylene Terephthalate [PBT], Gamma-butyrolactones (GBL) and Polyurethanes (PU). THF held the largest global market share at 49.47% in 2018, and it is expected to maintain its dominance for the forecast period.

The THF industry has grown over the last few years due to the increasing use of PTMEG, a polymer that is extensively used for manufacturing urethane elastomers or fibers. It is also a versatile solvent that can be used in a variety of areas, including adhesives, vinyl films, cellophane, industrial elastomers and coatings, as well as printing inks. It is used to make PVC cement types.

PBT was second in market share at 22.26% in 2018. This is due to increasing demand from the end-use industries like automotive and electrical appliances. It is expected to grow at 6.2% during the forecast period.

The modest CAGR in the polyurethane (PU), application sector is due to strong industrial growth in emerging areas of Latin America and Asia Pacific, which has in turn widened PU's application range.

PTMEG Application Insights

PTMEG applications include spandex and Copolyesterether Elastomers CopE (Copolyesterether Elastomers) urethanes. Spandex is the most important application sector of PTMEG. It has a high demand for flexible sports apparel and textiles, which drives an 8.2% CAGR in terms revenue growth.

These fibers are only used because of their unique inherent properties, such as higher elasticity and durability, along with greater flexibility than rubber. The demand for spandex is expected to rise due to the innovative use of spandex in the medical sector for wound dressing and protective clothing.

It is expected that there will be an increase in awareness about the high-performance engineering materials, which bridge the gap between rigid and flexible elastomers, to drive industrial development across North America as well as Europe. Urethanes will grow at the fastest rate with a CAGR 9.6% over the forecast period due to technological advances and a higher cost-to-benefit ratio.

Spandex Application Insights

Spandex applications are textiles and medical, as well as automotive interiors. In 2018, the textile sector held the largest market share. It is expected to grow at 8.2% CAGR during the forecast period, owing to product innovation as well as the development of non-woven fabrics.

Due to increased exports to North America and Europe, the Asia Pacific will continue to be the largest market for textiles. The spandex market is expected to grow positively over the forecast period due to increased capacity expansion, modernization and diversification in the textile industry.

Market growth in Germany is expected to be driven by the growing textile industry and the high demand for spandex in the medical and hygiene industries. Due to the growing demand from the healthcare industry, medical and hygiene will account for 20.70%.

Spandex is also becoming more popular in automotive interiors. It can be used for a variety of automotive applications, such as the manufacture of door panel fabrics that adhere to the doors. These synthetic fibers can also be used to make solar control automotive window film. Automotive interiors will account for 19.04% of the total market during the forecast period.

Regional Insights

Asia Pacific was the region with the highest market value at 3.15 billion in 2018. It is expected to maintain its dominance during the forecast period due to expanding end-use industries, and the availability of low-cost labor. China is expected to be the largest consumer of 1,4 BDO and PTMEG spandex due to its growing disposable income.

Although Europe and North America are mature markets with saturated end-use markets they will continue to be lucrative for innovative manufacturers who use bio-based resources to produce sustainable production standards. These regions represented 3.5% and 2.9% of the total market share respectively in 2018, and they are expected to grow at a healthy CAGR during the forecast period.

The developing infrastructure and increased use of advanced technology will allow Central and South America to grow at a rapid pace in the future. As consumers are more aware of the advantages of spandex and other elastic fabrics for hosiery and sports apparel as well as medical textiles, there are many untapped market opportunities in CSA.

The Middle East market for spandex is expected to grow at 7.6% CAGR during the forecast period. This is due to rising disposable income and increased participation in sport activities in the region. The textile sector in the MEA countries, including UAE, is considered to be second largest after oil. This is due to the development of online e-commerce shopping websites and the increasing popularity of international brands.

Market Share Insights & Key Companies

Market leaders include Mitsui Chemicals Inc., BASF SE, Ashland Inc., BioAmber Inc. and Genomatica.

Dairen Chemicals Corporation was the first Taiwanese producer of BDOs to develop its own technology. LyondellBasell was next to create its technology using a propylene-oxide-based process. LyondellBasell Netherlands was the second plant to convert the ARCO propyleneoxide (PO) technology to BDO.

1,4-Butanediol, Polytetramethylene Ether Glycol and Spandex Market Report Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2014 to 2025. Grand View Research has divided the 1,4-Butanediol market (BDO), Polytetramethylene Ether Glycol(PTMEG), and spandex markets based on their application and location.

• 1,4-BDO Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • Tetrahydrofuran (THF)

  • Polybutylene Terephthalate

  • Gamma-Butyrolactone (GBT)

  • Polyurethane (PU).

  • Other

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

  • Spandex

  • Co-polyester/Ether Elastomers

  • Urethanes

  • Other

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

  • Textiles

  • Hygiene & Medical

  • Automotive Interiors

  • Other

• Regional Outlook (Volume of Kilo Tons; Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

    • France

    • Turkey

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

These are the most frequently asked questions about this report

b. B.

b. Global 1,4-Butanediol, Polytetramethylene Ether Glycol and Spandex markets are expected to grow at 7.8% compound annual growth rate from 2019 to 2025, to reach USD 17.63 Billion by 2025.

b. b. This can be attributed to the growing end-use industries as well as the availability of low-cost labor.

b. b.

b. The market growth is being driven by the growing demand for sustainable and bio-based feedstocks, as well as the growth of the textile & apparel industries.

Up Market Research published a new report titled “1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market research report which is segmented by Application (PBT, Textiles, THF, Urethanes), By Players/Companies Mitsui Chemicals Inc; BASF SE; Ashland Inc; BioAmber Inc; Genomatica; Asahi Kasei Corp; DuPont; Toray Industries Inc; The Dow Chemical Company; Sipchem; Lotte Chemical; Indorama Synthetics; LyondellBasell; Dairen Chemicals Corporation (DCC); Invista; and Nan Ya Plastics”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market Report Segments:

The market is segmented by Application (PBT, Textiles, THF, Urethanes).

1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market

Overview of the regional outlook of the 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. PBT

                2. Textiles

                3. THF

                4. Urethanes

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.