The conflict between the U.S., Israel and Iran has disrupted oil flows through the Strait of Hormuz, pushing up crude oil prices. Higher crude costs have lifted gasoline and diesel prices, contributing to broader inflation. Supply constraints are expected to keep prices elevated until mid‑2027.
The brokerage lifted its December 2026 Brent crude price forecast, citing persistent Middle East supply risks that could keep premiums high. At the same time, oil prices slipped on expectations of increased Russian supplies after a US‑brokered energy‑facility truce. Together, the signals point to mixed near‑term direction with upside bias.
Asia
Asian PTMEG markets remained closely linked to developments across the BDO-spandex chain. Chinese supply remained substantial, but firm BDO (Butanediol) conditions and sustained demand from spandex manufacturers provided cost support during parts of H1. China's spandex trade also remained active, although exports weakened during January–May, indicating some pressure on downstream demand. Meanwhile, continued PTMEG capacity and domestic availability kept competition among producers elevated, limiting the extent of upward price transmission during weaker demand periods.
Europe
European PTMEG markets faced increasing feedstock and sourcing uncertainty toward the end of H1 following the EU's definitive BDO anti-dumping measures. The duties covered Chinese, Saudi Arabian, and US-origin BDO and were introduced after the Commission determined that dumped imports had injured EU BDO producers. Since BDO is an upstream intermediate for THF and several downstream products, the measures increased the importance of alternative sourcing and domestic supply for European buyers.
North America
North American PTMEG conditions remained influenced by domestic BDO availability, downstream spandex and elastomer demand, and international trade flows. The EU's BDO duties added another layer of uncertainty for US exporters and could alter regional trade patterns, although the direct impact on North American PTMEG remained more limited than in Europe. Demand from performance elastomers and textile applications provided a steady consumption base.
Analyst Insight
PTMEG markets are expected to remain sensitive to BDO availability and spandex demand, while European trade measures could increase regional sourcing differentiation.
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Asia
During H2 2025, the polytetramethylene ether glycol market in Asia remained closely tied to developments in the 1,4-butanediol and spandex chains. Chinese production capacity continued to expand, keeping supply competition elevated, while slower growth in spandex demand limited the ability of producers to pass through higher feedstock costs. CCFGroup's 2025 industry review subsequently noted that Chinese polytetramethylene ether glycol capacity growth remained substantial, while imports declined and exports increased, reflecting China's increasingly competitive supply position.
Europe
European polytetramethylene ether glycol demand remained more closely connected with non-fibre polyurethane applications, including elastomers, adhesives and coatings, rather than the predominantly spandex-driven Asian market. Procurement remained sensitive to import availability and upstream tetrahydrofuran costs. The European Union's June 2025 initiation of an anti-dumping investigation into 1,4-butanediol from China, Saudi Arabia and the United States also introduced greater uncertainty around future feedstock sourcing, although definitive duties were not imposed until 2026 and therefore should not be treated as an H2 2025 price driver.
North America
In North America, polytetramethylene ether glycol consumption remained comparatively diversified, with polyurethane elastomers and other non-fibre applications representing an important demand base. The region was therefore less directly dependent on spandex than China and other Asian markets. During H2 2025, procurement conditions were influenced by downstream industrial demand, import availability and tetrahydrofuran-linked production economics, while the European Union's investigation into 1,4-butanediol trade added a developing trade consideration for international suppliers without yet creating the direct tariff impact seen later in 2026.
Polytetramethylene Ether Glycol (PTMEG) is a white waxy solid polyol which upon melting turns into a clear, colourless, viscous liquid. It is mainly used in the production of polyurethane fibers, elastomers and copolyester-ether.
C6H16O3
Production of polyurethanes, polyesters & polyamides
Production of polyurethanes, polyesters & polyamides
BASF SE, Mitsui Chemicals, Inc., BASF SE, Genomatica, Asahi Kasei Corp., DuPont, The Dow Chemical Company
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
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In this process, tetrahydrofuran is mixed with the catalyst fluorosulfonic acid. As a result of this, polymerization products are formed, namely, polytetramethylene ether chains with sulfur ester groups. Sulfates are then hydrolyzed with water and the acid is removed.
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