New York, NY -- (SBWIRE) -- 11/26/2020 -- Tetrahydrofuran Market: An Overview

According to the current analysis of Reports and Data, the global Tetrahydrofuran market was valued at USD 3.2 Billion in 2019 and is expected to reach USD 5.45 Billion by the year 2027, at a CAGR of 6.8%. Tetrahydrofuran (THF) is a colorless, volatile liquid that is also water-miscible. Tetrahydrofuran is an excellently stable compound with a relatively low boiling point and first-rate solvency. THF is widely used for dissolution of many substances as well as feedstock for the synthesis of polytetramethylene ether glycol (PTMEG). The tetrahydrofuran is the saturated derivative of furan. Tetrahydrofuran is an excellent solvent at ambient temperature for higher molecular compounds like polyvinyl chloride, and other copolymers. Tetrahydrofuran, in combination with methyl-ethyl-ketone helps to increase the solvency of various polymer compounds.

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Tetrahydrofuran Market: Key Players

- BASF SE
- Dairen Chemical Corporation
- INVISTA
- Mitsubishi Chemical Holdings Corporation
- LyondellBasell Industries N.V.
- Saudi International Petrochemical Company
- Penn A Kem LLC
- Ashland Global Specialty Chemicals Inc.
- Nova Molecular Technologies
- BioAmber Inc.

Tetrahydrofuran Market Dynamics
The tetrahydrofuran market is growing as the compound has a wide variety of applications in PVC top coatings in the automotive industry and polyurethane coatings for fabric finishes. Tetrahydrofuran is a preferred solvent of inks that are used for printing on PVC film. Besides, tetrahydrofuran utilization has proliferated in market segments like PVC welding components, and other adhesive applications related to leather, and polymers compositions. The tetrahydrofuran market finds extensive application opportunity in chemical industries. THF quality of solvency is used in many organic, inorganic compounds. The tetrahydrofuran products and solutions are also used as reagents, catalysts and for polymerization. The pharmaceutical industry also regularly uses oxolane or tetrahydrofuran for solvent cleansing utilized in polymer fabrication and processing equipment.

Tetrahydrofuran is widely used in manufacturing of polyurethane resins and for its lightweight properties is wide adopted in automotive, construction, and electronic industry. This is expected to drive the tetrahydrofuran market growth. Strict environmental regulations on burning of fossil fuel to control toxic gas emission may hinder the market growth. Various improvements under the Toxic Substance Control Act have been adopted to strengthen environmental conversation by using environmentally friendly method of product manufacturing in the tetrahydrofuran market .

Tetrahydrofuran Market: Segmentation
For a better understanding of the study, Reports and Data has segmented the Tetrahydrofuran market based on Type, Application, End-use, and Region:

Process Type (Revenue in USD Million; Volume in Tons, 2017–2027)
- Acetylene-based Process
- Butadiene-based Process
- Maleic Anhydride-based Process
- Propylene-Based Process via Allyl Alcohol
- Propylene Oxide-based Process

Application (Revenue in USD Million; Volume in Tons, 2017–2027
- Polytetramethylene ether glycol (PTMEG)
- Solvent applications
- Other Applications

End-Use (Revenue in USD Million; Volume in Tons, 2017–2027)
- Polymer
- PVC
- Pharmaceutical
- Sealants & Adhesives
- Others

Tetrahydrofuran Market: Regional Outlook
The Asia Pacific tetrahydrofuran market is expected to register at a CAGR of 7% over the forecast period followed by North America and Europe, with 6.9% and 6.7% CAGR, respectively. Expansive usage of THF across industries is the key factor to accelerate market growth during the forecast period across all regions. The Asia Pacific region is anticipated to hold 50.6% of the global oxolane market. Increase in the solvent applications in countries like India, China, Australia, Korea will also add to this surge in the industry revenue growth.

North America tetrahydrofuran market, led by end use industries in U.S., Canada, and Mexico is likely to show significant growth over forecast timeframe. Production of various processing aids and solvents in petroleum industry is likely to spur the industry growth. Europe oxolane market, led by UK, France, Italy, and Germany revenue market share is predicted to grow on account of rising demand for ready to eat food and take-away food.

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COVID-19 Impact on Tetrahydrofuran Market:
All markets have taken a serious hit due to the insurgence of COVID-19 and while some businesses have gone under, others have hunkered down and waiting for the crisis to blow over. Various application sectors for tetrahydrofuran have been negatively and positively impacted by the worldwide spread of the virus. With the automotive and construction industries having largely downscaled their activities, the tetrahydrofuran market has sustained losses. On the other hand, the pharmaceutical industry is acting in full swing and has created addition al demand for tetrahydrofuran. It is expected once things go back to normal and supply chains are up and running, the industry can make up for this temporary and unexpected loss.

Report Highlights:
- Detailed overview of the market
- Evolving tetrahydrofuran market dynamics
- In-depth tetrahydrofuran market classification
- Historical, present, and anticipated tetrahydrofuran market size and share in terms of volume and value
- Recent tetrahydrofuran market trends and advances
- Competitive landscape
- Strategies adopted by key players and products portfolio
- Segments, sub-segments, and geographic regions exhibiting growth prospects
- A neutral and global perspective on tetrahydrofuran market performance

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Regional Outlook (Revenue in USD Million; Volume in Tons, 2017–2027)
- North America
o U.S.
o Canada
- Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of Europe
- Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
- Middle East & Africa
- Latin America
o Brazil

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