U.S. PTMEG market volume by application, 2012-2022 (Kilo Tons)
- 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.