Tetrahydrofuran demand stood at 1.46 Million Tonnes in 2020 and is forecast to reach 2.778 Million Tonnes by 2030, growing at a healthy CAGR of 6.85% until 2030.
Tetrahydrofuran is an organic compound. It is majorly used as a solvent for plastics and as an intermediate in organic synthesis. The major applications of Tetrahydrofuran are polytetramethylene ether glycol (PTMEG) and solvents. PTMEG is used in the manufacturing of spandex and other polyurethanes. Major end-use industries for Tetrahydrofuran include polymer, textile, pharmaceutical, paints and coatings, and others. Growing demand for spandex and paints and coatings coupled with the increasing demand of other end-use industries is expected to drive the demand for Tetrahydrofuran for the forecast period. Tetrahydrofuran is manufactured through several processes therefore, it can be segmented by technology as reppe process, davy process, propylene oxide process, butadiene process. Among the processes, the reppe process leads the global market for Tetrahydrofuran due to its industrial viability and low cost. Stringent environmental regulations and high manufacturing costs coupled with the increasing need for green solvents are expected to hinder demand growth during the forecast period.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on several industries. Construction and textile were among the most affected industries during the pandemic. This had an impact on the demand for paints and coatings and spandex for the first half of 2020. Therefore, the demand for Tetrahydrofuran fell during the coronavirus pandemic from the paints and coatings and textile segment. However, a speedy recovery was witnessed in the demand for Tetrahydrofuran since the resumption of industrial operations and construction activities after the relaxation in the lockdown restrictions in the latter half of 2020.
Region-wise, Asia-Pacific region holds the major share of global demand for Tetrahydrofuran due to the increasing demand of application industries such as paints and coatings, and textiles. Moreover, an increasing number of polymers using Tetrahydrofuran as solvent is also an influencing factor supporting demand rise in the Asia-Pacific.
Major players for Tetrahydrofuran globally include BASF, Dairen Chemical, Ashland, INVISTA, Mitsubishi Chemical, LyondellBasell, Sipchem, Penn A Kem, Nova Molecular Technologies, and BioAmber.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
• To assess the demand-supply scenario of Tetrahydrofuran which covers production, demand and supply of Tetrahydrofuran market globally.
• To analyse and forecast the market size of Tetrahydrofuran .
• To classify and forecast global Tetrahydrofuran market based on technology, end- use and regional distribution.
• To identify drivers and challenges for global Tetrahydrofuran market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Tetrahydrofuran market.
• To identify and analyse the profile of leading players involved in the manufacturing of Tetrahydrofuran.
To extract data for global Tetrahydrofuran market, primary research surveys were conducted with Tetrahydrofuran manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Tetrahydrofuran market over the coming years.
ChemAnalyst calculated Tetrahydrofuran demand globally by analyzing the historical data and demand forecast which was carried out considering imported Tetrahydrofuran, prices, materials used for production of Tetrahydrofuran . ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Tetrahydrofuran manufacturers and other stakeholders
• Organizations, forums and alliances related to Tetrahydrofuran distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Tetrahydrofuran manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global Tetrahydrofuran market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
By Application: (Polytetramethylene Ether Glycol (PTMEG) and Solvents)
By End Use: (Polymer, Textile, Pharmaceutical, Paints and Coatings)
By Sales Channel: (Direct/Institutional Sales, Indirect Sales)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
BASF, Dairen Chemical, Ashland, INVISTA, Mitsubishi Chemical, LyondellBasell, Sipchem, Penn A Kem, Nova Molecular Technologies, and BioAmber.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
12.7.4.Argentina Tetrahydrofuran Demand-Supply Scenario, 2015-2030, By Volume
12.7.4.1.Demand
12.7.4.2.Supply
12.7.4.3.Gap
12.7.5.Argentina Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
12.7.5.1.By End Use
12.7.5.2.By Application
12.7.5.3.By Sales Channel
12.7.5.4.By Company Share (At least top 3 companies’ market share)
13.By Region
14.Country-wise Import
15.Country-wise Export
16.News and Deals
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Which are the major drivers for growth in demand of tetrahydrofuran?
Ans:
Rise in the demand of paints and coatings and spandex industry coupled with the increasing demand of other application areas is the major driver for growth in the demand of tetrahydrofuran.
Q2.
Which region holds the maximum demand share in the Global tetrahydrofuran market as of 2020?
Ans:
Asia Pacific holds the major demand share of tetrahydrofuran due increasing demand of the application areas including paints and coatings and textile. Increasing population and per capita income in emerging economies like India and China is also an influencing factor supporting demand rise in Asia Pacific.
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