Global Tetrahydrofuran Market Trends, Applications, Analysis, Growth, and Forecast to 2028
Global Tetrahydrofuran Market Introduction
“The global Tetrahydrofuran Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Tetrahydrofuran is a chemical compound with a molecular formula C4H8O. Tetrahydrofuran is primarily used as solvent for Grignard reaction and as a precursor of polymer.
Tetrahydrofuran is used in polytetramethylene ether glycol production. Tetrahydrofuran is highly volatile organic solvent utilized as a raw material for different syntheses such as for formulation of ether chemicals having high molecular mass by the polymerization process.
Tetrahydrofuran is used in wide range of applications. Key applications of Tetrahydrofuran include solvent, pharmaceutical, and PTMEG.
Tetrahydrofuran is utilized as a solvent in processing and production of various adhesives and polymers. Tetrahydrofuran is majorly used in manufacturing of polytetrahydrofuran and polytetramethylene ether glycol. Tetrahydrofuran is polymerized to procedure polytetramethylene ether glycol which is utilized as a raw material for different fibers (Spandex) within textile industry.
Spandex is utilized in various textile apparels the improve properties of the textiles. In the pharmaceutical industry, Tetrahydrofuran is majorly used as reaction medium in various processes, such as reduction of lithium aluminium hydride or Grignard syntheses. In addition, it is used as an extractor for different drugs.
Increasing demand for tetrahydrofuran across different end-use applications such as polytetramethylene ether glycol and solvent is a major factor estimated to drive growth of the target market in the next 10 years.
In addition, increasing adoption of tetrahydrofuran in various pharmaceuticals applications is another factor expected to propel growth of the target market over next few years.
In addition, growing demand for spandex fiber and increasing demand for polyurethane (PU) are other factors projected to drive growth of the target market.
However, harmful side-effects of THF is a major factor expected to hamper growth of the global market to certain extent.
Increasing importance of green chemistry and increasing demand for tetrahydrofuran from emerging markets are major factors expected to offer revenue growth opportunities for the major players operating in global tetrahydrofuran market.
On the basis of technology, Reppe process segment is expected to register moderate share in term of revenue in the global tetrahydrofuran market. Reppe process is widely used for production of tetrahydrofuran owing to its low investment costs and high production efficiency. It is suitable for mass production of tetrahydrofuran.
In addition, less number of steps included in this process, saves process time, thus makes manufacturing of the tetrahydrofuran easy. The Reppe process segment revenue is projected to register largest CAGR over the forecast period.
On the basis of application, polytetramethylene ether glycol segment is expected to register moderate share in term of revenue in the global tetrahydrofuran market. The polytetramethylene ether glycol segment revenue is anticipated to register largest CAGR over the forecast period.
Asia Pacific tetrahydrofuran market is estimated to account for major share in terms of revenue in the global market. Asia Pacific tetrahydrofuran market is estimated to register fastest growth in terms of revenue over the next 10 years, owing to increasing adoption of tetrahydrofurans in various polytetramethylene ether glycol and solvent applications.
Global tetrahydrofuran market segmentation:
Segmentation by technology:
- Reppe Process
- Davy Process
- Propylene Oxide
- Butadiene Process
Segmentation by application:
- Polytetramethylene Ether Glycol (PTMEG)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BASF SE
- Dairen Chemical Corporation
- Ashland Global Holdings Inc.
- Mitsubishi Chemical Corporation
- INVISTA S.à r.l.
- BioAmber Inc.
- LyondellBasell Industries N.V.
- Penn A Kem LLC
- Sinochem Qingdao Co., Ltd.
- TCC Chemical Corp.
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