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Impact of Covid-19 on Polytetramethylene Glycol (PTG) Market

 

Polytetramethylene Glycol Market: Highlights

·         Polytetramethylene Glycol (PTG) is a waxy, white solid that melts into a clear, colorless, viscous liquid near room temperature. PTG is produced by the catalyzed polymerization of tetrahydrofuran (THF). PTG is primarily used in the production of spandex (polyurethane) fibers, polyurethane elastomers, and copolyester-ether elastomers.

·         PTG turns into transparent liquid when the temperature is higher than room temperature. It dissolves easily in alcohols, esters, ketones, aromatic hydrocarbons, and hydrocarbon chlorides. However, it does not dissolve in water or fatty hydrocarbons. Solubility of PTG drops when its molecular weight increases.

Key Drivers of Polytetramethylene Glycol Market

·         Growth in the textile industry is expected to drive the global PTG market. PTG is used as an ideal softener and lubricant in various procedures to keep the workflow of spinning, printing, and knitting intact. Germany, Spain, France, Italy, and Portugal are at the forefront in the textile industry in the European Union. Expansion in the textile industry is estimated to boost the demand for PTG in the region.

·         India is the third-largest textile manufacturing industry and holds an export value of more than US$ 30 Bn. The country accounts for more than 6% of the total textile production globally.

Polytetramethylene Glycol Market: Application Segment

·         Based on application, the global PTG market can be segmented into Spandex (polyurethane) fibers, polyurethane elastomers, copolyester-ether elastomers, and others

·         The Spandex (polyurethane) fibers segment is projected to account for significant share of the global PTG market during the forecast period. The generic term spandex is used in the U.S., while the term elastane is used in Europe. This elastomeric fiber is used mainly in apparel, including undergarments, hosiery, and athletic outfits. Spandex is also finding acceptance in nonwoven areas such as baby diapers and band aids, as well as in home furnishing applications.

·         Expanding at a healthy growth rate, polyurethane elastomers and copolyester-ether elastomers segments are expected to create significant incremental opportunities during the forecast period

·         In terms of demand, the others segments is anticipated to expand at a moderate to high pace in the near future

Polytetramethylene Glycol Market: End-use Industry Segment

·         Based on end-use industry, the global PTG market can be segmented into paints & coatings, automotive, textiles, and others

·         The textile industry has been expanding at a healthy rate in emerging economies such as ASEAN and Canada since the last few years. It is expected to further expand during the forecast period. This can be primarily ascribed to low switching costs and significant role of the industry in terms of trade, employment, investment, and revenue.

·         Increase in demand for enhanced quality stretch fabric in various textile applications is driving the demand for PTG across the globe

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Polytetramethylene Glycol Market: Covid-19 Impact

·         The COVID-19 pandemic has had a negative impact on the global economy. It has adversely affected various industrial sectors by hampering the supply chain. Purchase and consumption behavior has changed significantly across various sectors with months of consumer lockdown and closure of international supply chains and retail businesses. This has adversely impacted the global PTG market.

·         The combination of extended lockdowns in developed market economies and domestic social distancing has deepened the adverse impact on emerging market economies. Longer lockdowns led to severe impact on household income, corporations' liquidity, and bank asset quality.

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Asia Pacific to be Key Region of Global Polytetramethylene Glycol Market

·         In terms of region, the global PTG market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the U.S. aims to promote investments in its end-use industries. This is estimated to boost the PTG market in the country.

·         In terms of demand, Asia Pacific held major share of the market in 2019. It was followed by North America and Europe. Asia Pacific is a highly promising region of the global market. This trend is expected to continue in the next few years. The PTG market in Asia Pacific is driven by expansion in textile and paints & coatings industries, increase in consumer spending, and strong economic growth.

·         The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding steadily. The market in the UAE also exhibits significant growth. This is projected to drive the demand for PTG in Latin America and Middle East & Africa, respectively, during the forecast period.

Global Polytetramethylene Glycol Market: Research Scope

Key Manufacturers Operating in Market

The global PTG market was highly fragmented in 2019. Key manufacturers operating in the global PTG market include:

·         BASF SE

·         Chang Chun Group

·         DCC

·         HYOSUNG

·         INVISTA

·         KOREA PTG

·         Mitsubishi Chemical Corporation

·         Shanxi Sanwei Group Co., Ltd

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