Market Research Report
1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market Size, Share & Trends Analysis Report By Application (THF, PBT, Urethanes, Textiles), By Region, And Segment Forecasts, 2019 - 2025
|1,4-Butanediol (BDO), Polytetramethylene Ether Glycol (PTMEG) & Spandex Market Size, Share & Trends Analysis Report By Application (THF, PBT, Urethanes, Textiles), By Region, And Segment Forecasts, 2019 - 2025|
Published: June 24, 2019
Grand View Research, Inc.
Content info: 149 Pages
Delivery time: 2-10 business days
The global 1,4-butanediol (BDO), polytetramethylene ether glycol (PTMEG) and spandex market size is expected to reach USD 24.59 Billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.8% during the forecast period. Rapid industrialization and exponential GDP growth in emerging markets such as India, Mexico, Brazil, Indonesia, and Thailand is expected to boost the growth.
Moreover, increasing sports activities and consumer awareness regarding fitness and healthy lifestyles is estimated to drive the market growth over the projected period. Emerging markets from Asia and South America such as China, India, and Brazil are registering high industrial output due to increased economic activity, driving growth of the manufacturing sector.
Most BDO processors are increasingly focusing on sustainable Good Manufacturing Practices (GMPs) and trying to increase efficacy, conserve resources, and utilize available resources in an optimal manner. These initiatives are expected to further boost the global BDO market over the forecast period.
Increasing environmental concerns and depletion of non-renewable resources such as crude oil and natural gas have spurred the development of numerous innovative sustainable technologies that utilize bio-based, renewable resources for BDO and spandex production. Extensive R&D activities and requirement to develop product differentiation are projected to lead to high levels of competition in the market.