Polyoxytetramethylene (PTMG) Market Key Players, Trends and Competitor Analysis Forecast by 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).

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.

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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. 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, TPEE, Spandex Fiber, and others. 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.

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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. 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.