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Tetrahydrofuran Market to observe high growth by 2024

04-04-2018 03:59 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research

Tetrahydrofuran Market: Overview

Tetrahydrofuran (THF) is a general-purpose, highly volatile organic solvent. It is a colorless, water-miscible, and mobile liquid. THF offers very good solvent power for numerous organic substances and is used as a starting material for various syntheses.

At present, THF is produced by either of two methods: the Reppe process and the furfural process. The Reppe process is preferred over the furfural process as the former is completely synthetic, and thus unlike its counterpart, the availability of raw materials is not dependent on agricultural conditions.

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In spite of being used as a starting material for various syntheses, THF can even be used as a coating agent, adhesive, reaction medium, or extractant.

The chemical is highly volatile and flammable, so care must be taken that it is stored and handled in an environment where atmospheric oxygen is excluded or limited. Also due to its volatile nature, care must be taken that the contents are used quickly once the container is opened, as it is said to have limited shelf life post exposure to the environment.

Tetrahydrofuran Market: Market Trends

THF distilled pure has many applications as a solvent, reaction medium, or starting product for syntheses. It can be used alone or along with other solvents in the leather industry as part of coating systems. The magnetic tapes used in electronic devices such as computers can be made abrasion resistant by applying a coat of THF.

The chemical is also used for the production of PVC adhesives as well as for the fabrication of PVC pipe systems that are used in industrial processes in heating and cooling systems.

THF can be used for the production of highly concentrated solutions, due to its high solvent power.

It is used on a wide scale in the pharmaceutical industry as a reaction medium for the synthesis of organometallic compounds.

THF is said to cause eye irritation, skin problems, nausea, dizziness, etc. under conditions of prolonged exposure.

Of late, a substitute for THF, called 2-methyl tetrahydrofuran (2-MeTHF), is being used in industries as well. The latter is said to be better than THF in terms of its chemical properties such as its stability in acidic conditions, less impurities, lower volatility, higher saturation concentrations, higher reaction yields, etc. This compound may be a potential restraint in the market for tetrahydrofuran in the coming days.

Keeping in mind the present applications of THF as well the development of its substitute like 2-MeTHF, it can be said that the market may face a gradual downfall in the near future due to the development of substitutes having better physical and chemical properties.

Tetrahydrofuran Market: Region-wise Outlook

THF is being widely used in Asia Pacific due to the large number of industries in developing countries like China, Japan, and India. China is said to be an important market of tetrahydrofuran due to the establishment of various end-use industries like PVC, coatings, adhesives, etc.

The region of North America also has a significant market for THF due to its use in the petroleum industry, followed by Europe and then Rest of the World.

Tetrahydrofuran Market: Key Players

Some of the key players in the market for THF are Sigma-Aldrich Corp., TCC Chemical Corporation, Mitsubishi Chemical Corporation, Dairen Chemical Corporation, Saudi International Petrochemical Company, and Ashland Inc.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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