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BDO-PTMEG-Spandex Market Size, Share Growth, Industry Analysis, Trends and Forecast to 2024: Hexa Research

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The global BDO-PTMEG-Spandex market is expected to grow at significant CAGR of over 5.0% between 2016 to 2024, with the global market size estimated at over USD 4.00 billion in 2014. This chemical is primarily used to manufacture polyurethane, GBL,
Hexa Research
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BDO-PTMEG-Spandex Market Analysis, Size, Share Growth,
Industry Trends and Forecast to 2024: Hexa Research
The global BDO-PTMEG-Spandex market is expected to grow at significant CAGR of over
5.0% between 2016 to 2024, with the global market size estimated at over USD 4.00 billion
in 2014. This chemical is primarily used to manufacture polyurethane, GBL, polybutylene
terepthalate, tetrahydrofuran, and solvents among few other downstream chemicals. The
product is being progressively used in drug preparations, which has fascinated several
legislative regulations and actions regarding the chemical’s safe usage. Butanediol (BDO)
applications include engineering plastics, cosmetics, pesticides, hardeners, fibers,
medicines, artificial leather, and plasticizers.
A chief 1, 4-butanediol derivative, THF, endures catalyzed polymerization to produce
polytetramethylene ether glycol (PTMEG). Physically the product is a white waxy so lid
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which is additionally used to manufacture polymers such as polyesters, urethane
elastomers, TPU, polyamides, and COPE.
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However,
one
of
the
major
uses
of
PTMEG
lies
in
the
manufacturing
of
lycra/elastene/spandex fiber, which finds usages in numerous end-uses that range from
automotive interiors to textiles. Globally, spandex market was valued at over USD 2.00
billion in 2014. In the value chain, butanediol is a primary feedstock in the manufacturing
process of elastene where PTMEG acts as an intermediate chemical. The global PTMEG
market size was valued at over USD 2.00 billion in 2014.
The global BDO-PTMEG-Spandex market is regulated by several agencies with regulations
and policies ranging from economical to environmental. Key regulatory policymakers wh o
command industry dynamics include the U.S. Environmental Protection Agency (EPA),
REACH, the U.S. Food & Drug Administration (FDA), European Chemicals Agency (ECHA),
and European Commission.
EPA has guidelines framed under the National Emission Standards for Hazardous Air
Pollutants to battle emissions from manufacturing processes. As these products and their
downstream chemicals are hazardous in nature, they unfavorably affect the organic health
and environment. These protocols are intended for restricting their manufacturing, usage,
and exposure to environment & humans.
Based on the applications of 1,4-Butanediol, the global market has been segmented into
gamma-butyrolactone, polybutylene terephthalate, tetrahydrofuran, and polyurethanes
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among
few
other
niche
applications
including
drug
and
solvents
formulations.
Tetrahydrofuran was the largest application and contributed nearly half of the global market
volume in 2014.
On the basis of Polytetramethylene Ether Glycol applications, the global market has been
segmented into urethanes, COPE and spandex. Spandex was the foremost application
segment accounted for over 75% of the overall revenue in 2014. The increasing scope in
automotive interiors, medical wear, hygiene products, and textiles are expected to surge
the demand for BDO-PTMEG-Spandex.
Textiles segment was the foremost application for elastene, which was further followed by
medical & hygiene which has accounted for over 20.0% of its volume in 2014. Growing
safety & hygiene standards in medical facilities and rising awareness regarding preventive
healthcare, mainly in developing nations, is expected to surge the application’s growth over
the next eight years.
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Geographically, the global BDO-PTMEG-Spandex market is segmented into North America,
Asia Pacific, Latin America, Middle East and Africa, and Europe.North America has
accounted for over 10.0%, 10.0% and 15.0% of spandex, PTMEG, and BDO global
volumes in 2014 respectively. North America is anticipated to witness significant growth
over the next eight years followed by Europe owing to the presence of companies with
robust patent landscape and advanced production technologies is anticipated to drive the
market. BDO is increasingly used for polyurethane and THF products in this region.
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Asia Pacific dominated the global scenario as the largest consumer base and revenue
generating region and is expected to witness the fastest growth over the forecast period.
India and China are projected to account for the major market share in the region primarily
due to rising industrial application, economic developments and technology adoption for
various industrial operations.
With production in these countries rising fast, end-use industries including automotive,
hygiene products and textiles are expected to offshoot spandex consumption. Southeast
Asian countries have witnessed a remarkable growth in textiles production, especially in
outdoor wear and sports apparel over the recent past.
The global BDO-PTMEG-Spandex market is highly dominated by integrated companies
with abilities extended from butanediol manufacturing as a feedstock to produce elastene
fibers for end-users. Positioning themselves throughout the value chain, these companies
enjoy a distinctive benefit of serving varied application segments other than those related
to the value chain.
The key players dominating the BDO-PTMEGmarket include Dairen Chemicals, Shanxi
Sanwei Group, Ashland BASF, LyondellBasell, DuPont, and Invista, while other major
spandex market players include Gold Pacific, Dynamic Fabric Trading, AB Textile Mills, and
Sultani Elasto.
Companies through mergers & acquisitions and strategic expansions have been trying to
cater large volume of customers. The companies through R&D efforts and continuous
innovation are also endeavoring to develop premium quality products and high -value
products with the optimum cost for price sensitive industry. The aforementioned efforts by
the companies have enabled them to anticipate significant growth over the forecast period.
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Hexa Research
Fact-based market research, penetrating industry insights and validated
forecasts to help you make better decisions for a stronger future
Browse
Full
Report
@
https://www.hexaresearch.com/research-report/butanediol-
polytetramethylene-ether-glycol-spandex-market/
About Us:
Hexa Research is a market research and consulting organization, offering industry reports,
custom research and consulting services to a host of key industries across the globe. We offer
comprehensive business intelligence in the form of industry reports which help our clients obtain
clarity about their business environment and enable them to undertake strategic growth
initiatives.
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Website - http://www.hexaresearch.com/
Contact: +1-800-489-3075
Email : [email protected]
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