Tetrahydrofuran (THF) Market – Global Forecast to 2022 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Tetrahydrofuran
(THF) Market by Application (PTMEG, Solvents), Technology (Reppe
Process, Davy Process, Propylene Oxide Process, Butadiene Process), and
Region (Asia Pacific, North America, Europe, RoW) – Global Forecast to
2022" report has been added to ResearchAndMarkets.com's
offering.

The THF market Is Projected to Grow From USD 2.95 Billion In 2017 to USD
4.12 Billion By 2022, at a CAGR of 6.9% from 2017 to 2022.

The increasing demand for spandex fibers and polyurethane across the
globe is driving the growth of the THF market. The hazardous impact of
tetrahydrofuran on human and animal health and its high manufacturing
costs are the factors restraining the growth of the THF market across
the globe.

The butadiene process segment of the THF market is projected to grow at
the highest CAGR, in terms of volume between 2017 and 2022. The growth
of this segment of the market can be attributed to the low cost of raw
materials and easy availability of butadiene. In addition, the Reppe
process is the most widely used technology for manufacturing
tetrahydrofuran, owing to its low cost and less number of steps involved
in it. The efficiency of the Reppe process technology in manufacturing
1,4-Butanediol (BDO) is high.

Among applications, the PTMEG segment is projected to lead the THF
market between 2017 and 2022, in terms of volume. The growth of this
segment of the market can be attributed to the increased investments
being made by the key players for the increased production of spandex
across the globe. The high growth of the textile industry across the
globe due to increased demand for sportswear is mainly responsible for
the increased demand for spandex. This, in turn, is expected to drive
the growth of the THF market across the globe.

The growth of the Asia Pacific THF market can be attributed to the
increased demand for tetrahydrofuran in PTMEG, solvents, and chemical
intermediate applications. The high growth of the manufacturing sector
in the Asia Pacific region due to growing industrialization has fueled
the demand for tetrahydrofuran in the chemical, textile, packaging,
automotive, and consumer goods industries. Tetrahydrofuran is used as a
solvent in adhesives, paints, coatings, pharmaceuticals, inks, and
cosmetics.

Market Dynamics

Drivers

• Growing Demand for Spandex Fiber
• High Demand for Polyurethane (PU)

Restraints

• Hazardous Nature of THF

Opportunities

• Increasing Importance of Green Chemistry
• High Growth in Emerging Markets

Challenges

• Increasing Environmental Regulations

Companies Mentioned

• Ashland
• BASF
• Bioamber
• Bluestar New Chemical Materials
• Dairen Chemical
• Invista
• Korea PTG
• Lyondellbasell
• Mitsubishi Chemical Corporation
• Nan Ya Plastics
• Pennakem
• Shanxi Sanwei
• Sinochem Qingdao
• Sipchem
• Tcc Chemical

For more information about this report visit https://www.researchandmarkets.com/research/kvqlrg/tetrahydrofuran?w=4

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Related
Topics: Solvents