Global 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) and Spandex Market Report and Forecast 2023-2028

Global 1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) and Spandex Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market is projected to grow at a CAGR of 5.15% between 2023 and 2028. Aided by the multifarious applications, primarily in the textile industry and the escalating demand for stretchable and comfortable fabrics, the market is expected to grow significantly by 2028.

1,4-Butanediol (BDO) is an organic compound, a colourless viscous liquid that is significant in the production of polymers like PTMEG. PTMEG, in turn, is a foundational ingredient in the synthesis of Spandex, a lightweight, synthetic fibre known for its exceptional elasticity. Spandex is a staple in the manufacturing of a diverse range of garments, from sportswear to undergarments, due to its ability to revert to its original shape after stretching.

A myriad of applications of these compounds, especially in the rapidly growing textile sector, positions them as indispensable elements in modern garment production, thus aiding the 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market growth. The inherent qualities of spandex, such as durability, stretchability, and comfort, have amplified its demand in the fashion industry. With the contemporary lifestyle leaning towards comfort and functionality without compromising on style, spandex's prominence in everyday attire like leggings, activewear, and athleisure garments has seen a marked rise.

The burgeoning fitness and health wave across the globe further propels the market growth. Active sports, yoga, and gym activities necessitate attire that offers both flexibility and comfort, resulting in a surge in demand for spandex-infused sportswear. Moreover, the current trend of body positivity and inclusivity in the fashion industry accentuates the need for fabrics like spandex that adapt to varied body types, further boosting the global 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market demand.

Delving deeper, 1,4-Butanediol (BDO) is not limited to textile applications. Its role in the production of plastics, solvents, and electronic chemicals highlights its versatility. The incessant growth in the electronics and automotive sectors, where BDO finds its use in producing certain components and parts, provides impetus to its global demand.

Furthermore, polytetramethylene ether glycol (PTMEG) is integral not just for Spandex but also for producing polyurethane, which is utilised in the manufacturing of wheels, cast elastomers, and other components. The escalating production of automobiles and the continuous need for replacements and upgrades further bolster the 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market expansion.

Market Segmentation

The market can be divided based on product type and region.

Market Breakup by Product type

• BDO
• PTMEG
• Spandex

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market. Some of the major players explored in the report by Expert Market Research are as follows:

• Mitsui Chemicals, Inc.
• BASF SE
• DuPont de Nemours, Inc.
• Ashland Global Specialty Chemicals Inc.
• BioAmber Inc.
• Saudi International Petrochemical Company
• LyondellBasell Industries Holdings B.V.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.