Tetrahydrofuran (THF) Market : Key Vendors, Trends, Analysis, Segmentation, Forecast

SDKI Inc. published a new report on the Tetrahydrofuran (THF) market. This study includes the statistical and analytical approaches needed to grow the THF market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-109561

The Tetrahydrofuran (THF) market is estimated to grow from a market value of US $ 4.12 billion in 2022 to US $ 6.57 billion by 2030, with a CAGR of 6.9% during the forecast period.

Tetrahydrofuran (THF) is an organic compound suitable for a wide range of industrial and chemical solvent applications. It is used in the production of PVC plastic, which makes up the majority of indoor plumbing in modern homes. It is also the main component of PVC adhesives, PVC film castings and PVC reactor cleaning. Increasing demand for spandex fibers and polyurethanes around the world is expected to drive growth in the THF market. However, the dangerous effects of tetrahydrofuran on human and animal health and its high manufacturing costs can curb the growth of the THF market around the world.

Market Segments

The Tetrahydrofuran (THF) market is divided by application (PTMEG, solvent), technology (Reppe process, Davy process, propylene oxide process, butadiene process), and region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Based on technology, the butadiene process segment is projected to grow at a maximum CAGR during the forecast period.

The butadiene process segment is projected to grow at a maximum CAGR between 2022 and 2030 in terms of volume. Growth in this segment may be due to the low cost of raw materials and the readily available availability of butadiene. In addition, the Reppe process is the most widely used technology for producing tetrahydrofuran because of its low cost and the small number of steps involved. The efficiency of the Reppe process technology in the production of 1,4-butanediol (BDO) is high.

Based on the application, the polytetramethylene ether glycol (PTMEG) segment is expected to grow at a maximum CAGR during the forecast period.

The PTMEG segment is projected to lead the THF market in terms of volume between 2022 and 2030. Growth in this segment could be due to increased investment made by key players to increase spandex production around the world. The high growth of the textile industry around the world due to the increased demand for sportswear is mainly due to the increased demand for spandex. This is expected to drive growth in the THF market around the world.

Area overview

The Asia Pacific THF market is projected to grow at a maximum CAGR during the forecast period. The growth of the market in this region may be due to the increased demand for tetrahydrofuran in PTMEG, solvent, and chemical intermediate applications. The high growth of manufacturing in the Asia-Pacific region due to the progress of industrialization will support the demand for tetrahydrofuran in the chemical, textile, packaging, automobile and consumer goods industries. Tetrahydrofuran is used as a solvent in adhesives, paints, coatings, pharmaceuticals, inks and cosmetics. Therefore, increased consumption of tetrahydrofuran in these industries in the region is expected to drive growth in the THF market in the region during the forecast period. In addition, increased investment by major chemical companies in the region's chemical industry is also driving demand for tetrahydrofuran from the region.

These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, and other Asia Pacific); Latin America (Brazil, Mexico, Argentina, and other Latin). USA); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy, Spain) , Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.

Major key players on the market

Major key players in the tetrahydrofuran (THF) market include BASF (Germany), Dairen Chemical (Taiwan), Ashland (US), INVISTA (US), Mitsubishi Chemical (Japan), LyondellBasell (Netherlands), Sipchem (Saudi Arabia), These include Penn A Kem (USA), Nova Molecular Technologies (USA) and BioAmber (USA). The survey includes a detailed competitive analysis of these major companies in the THF market, corporate profiles, recent developments, and key market strategies.

Detailed contents of the survey report
https://www.sdki.jp/reports/tetrahydrofuran-thf-market/109561

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This release was published on openPR.