Polyoxytetramethylene (PTMG) Market Growth Factors, Competitive Strategy and Raw Materials Analysis to 2022
The
global Polyoxytetramethylene (PTMG)Market is expected to grow at an exponential CAGR in the years to come. A
chemical compound appearing as a white solid that has the ability to dissolve
to a lucid, colorless, and thick liquid in the room temperature. It is also
known by various names as poly (tetramethylene ether) glycol,
Polytetrahydrofuran, as well as poly (tetramethylene oxide). The compound is
generally formed with the help of the catalyzed polymerization process of
tetrahydrofuran (THF).
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The most striking aspects that are attached with it may
entail augmented resiliency, robust resistance to hydrolysis and fungus,
enhanced flexibility at reduced temperatures, low thickness, reduced noise
features, and lowered heat buildup. All these features together make the
compound most favorable for a wide range of applications such as automotive
hoses and gaskets, forklift tires, roller skate wheels, industrial belts,
medical prostheses, catheters, medical devices, tank and pipe lines, as well as
athletic shoes.
It has proven quite beneficial in the manufacturing of
polyurethane elastomers, co polyester-ether elastomers, urethane adhesives,
sealants, surface coatings, as well as spandex (polyurethane) fibers. Moreover,
it is employed in the production of artificial leather. The polymer is also
considered a base or raw material for other compounds ranging from
polyetheramide, cast polyurethane elastomers, thermoplastic polyurethane, to
thermoplastic polyesters that are extensively deployed in the helms and wheels
of roller skates. It has been observed that the product is gaining huge demand
across the globe due to mounting applications across various sectors.
The factors that are
playing a significant role in raising the share of the market may include
technological advancements, rise in the industrialization, rising applications
across various sectors, mounting demands, rise in the awareness among the end
users, existence of significant players, and augmented economic growth. It has
been anticipated that the Polyoxytetramethylene (PTMG) Market will experience a
robust growth in the next couple of years due to rising applications and scope
around the globe.
Product Types and
Applications Insights
Global Polyoxytetramethylene
(PTMG) Market is segmented by product as PTMG 650, PTMG 1000, PTMG 1800, PTMG 2000, and others. Polyoxytetramethylene (PTMG) Market is
segmented by application as PU Resin, TPEEs, Spandex Fiber, and others.
Regional Insights
Polyoxytetramethylene
(PTMG) Market is classified based on geography as North America, Southeast
Asia, China, Europe, Japan, and India. Among all the geographical regions, it
has been observed that the North America is currently leading the market and
the region will go on growing with the same pace, the reason being augmented
industrialization, urbanization, augmented awareness among the end users
regarding the applications of the compound, and emergence of leading companies
in the region.
In
contrast, Europe and Asia Pacific are also emerging as one of the promising
regions as huge market growth opportunities are coming up in the particular
regions.
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Competitive Insights
The key players operating in the
Polyoxytetramethylene (PTMG) Market are recognized as Korea PTG, Guodian Younglight, Tianhua Fubang,
Jianfeng, DCC, Hyosung, Qingyun, Shanxi Coal and Chemical, BASF, Invista,
Mitsubishi Chemical, Formosa Asahi Spandex, and Sanwei.
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