Monday, 13 February 2017

Butanediol Polytetramethylene Ether Glycol Spandex Market is expected to reach USD 17.53 billion by 2022

The global BDO, PTMEG and spandex market is expected to reach USD 17.53 billion by 2022, according to a new report by Grand View Research, Inc. Regulatory policies encouraging lightweight composites to reduce carbon emissions from vehicles are vital factors for BDO industry development over the forecast period. 

The market is likely to be driven by increasing butanediol demand from cosmetics, medicines, textiles, engineering plastics and automotive applications. About 50% BDO is used in tetrahydrofuran (THF) production, which is an intermediate chemical for polytetramethylene ether glycol (PTMEG). PTMEG itself is further processed to manufacture spandex/elastane/lycra, which finds application in several end-use industries that include textiles and automotive interiors. 


Development of bio-based spandex is also expected to boost consumption mainly in emerging markets, especially for textiles and sportswear applications. Increasing application scope owing to advanced processing technologies and strategic initiatives among major corporations is another driving factor for the industry.

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Further key findings from the study suggest:

  • Global BDO market size was 1,924.6 kilo tons in 2014 and is expected to reach 2,913.1 kilo tons by 2022, growing at a CAGR of 5.2% from 2015 to 2022.
  • THF was the largest application segment for BDO and accounted for about 50% of total revenue in 2014. High demand for THF as an intermediate chemical to PTMEG production is expected to drive its growth over the forecast period.
  • PTMEG demand is expected to grow at an estimated CAGR of 5.9% from 2015 to 2022 owing to rising spandex and urethane consumption in several automotive, industrial and consumer applications.
  • Spandex was the leading application segment for PTMEG and accounted for over 75% of total market volume in 2014. Growing consumer preference for inexpensive, elastic and durable materials in textiles and automotive interiors is a major driving factor for the industry.
  • Asia Pacific was the leading spandex consumer with demand share estimated at 69.4% in 2014. Southeast Asian countries such as Vietnam, Indonesia and Thailand have witnessed heightened textiles production, particularly in the sports apparel segment, thus establishing them as high potential markets in the global landscape.
  • The global industry is characterized by the presence of numerous large corporations that are fully integrated along the value chain, from BDO production to elastane manufacturing for end-use industries.
  • Major participants in the global industry include BASF, LyondellBasell, Ashland, Shanxi Sanwei Group, Dairen Chemicals, DuPont, and Invista. Spandex producers include AB Textile Mills, Dynamic Fabric Trading and Gold Pacific.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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