Market Size – USD 3.00 Billion in 2018, Market Growth - CAGR of 6.8%, Market Trends – Commercial Applications increase.
According to the current analysis of Reports and Data, the Tetrahydrofuran market was globally valued at USD 3.00 Billion in 2018 and is expected to reach USD 5.11 Billion by the year 2026, at a CAGR of 6.8%. Tetrahydrofuran (THF) is a colorless, volatile, and water-miscible liquid. Tetrahydrofuran is a highly stable compound with a relatively low boiling point and excellent solvency. THF is widely utilized as the reaction and 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 works as an excellent solvent for higher molecular compounds like polyvinyl chloride, and other copolymers at ambient temperature. The tetrahydrofuran, in combination with methyl-ethyl-ketone helps to increase the solvancy of various polymer compunds.
The
tetrahydrofuran market is enlarging and has a wide variety of applications in
PVC top coatings in the automotive industry, polyurethane coatings for fabric
finishes. Tetrahydrofuran is an excellent solvent of inks used for printing on
PVC film. Besides, tetrahydrofuran market has expanded in other market segments
like PVC welding components, and other adhesive applications related to
leather, and polymers compositions. The tetrahydrofuran market has an extensive
presence in chemical industries. THF’s feature of solvency in many organic,
inorganic compounds. The tetrahydrofuran products and solutions can also be
used as reagents, catalysts as well as polymerization. The pharmaceutical
industry also frequently uses tetrahydrofuran for solvent cleaning used for
polymer fabrication and processing equipment. Due to THF’s toxic nature,
special care required for safe operations.
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Key
participants include – 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, and BioAmber Inc.
Further key findings from the report
suggest
- The tetrahydrofuran market is growing
at a CAGR of 0% in the Asia Pacific, followed by North America and Europe,
with 6.9% and 6.7% CAGR, respectively. Extensive Usage across industries
is the key factor to accelerate market growth during the forecast period
across all regions
- As of 2018, the Solvent application is
the dominating Tetrahydrofuran market which holds 54.1% of the global
market. Asia Pacific market is the chief revenue-generating source for
this product segment, followed by North America and Europe regions
- Polytetramethylene Ether Glycol is
expected to be the fastest-growing market segment during the forecast
period 2019-2026 with a CAGR of 7.0%. However, a large amount of
manufacturing cost is a matter of concern.
- The Acetylene based process segment is
expected to register second-highest CAGR amongst the Process type at 6.9%.
- The Market for PVC end-use segment is
expected to reach USD 1.03 billion by the year 2026, elevating with a CAGR
of 6.8% during the forecast period
- The polymer end-use segment was valued
at 976.2 million in 2018 and is expected to grow at the most considerable
rate of 7.1%. Increasing demand of the textile industry is the primary
factor contributing to the market growth of this product segment
- The Asia Pacific is anticipated to
hold 50.6% of the global Tetrahydrofuran market. Increase in the solvent
applications in countries like India, China, Australia, Korea.
- Tetrahydrofuran is a hazardous
compound to handle likely to hinder the market growth during the forecast
period.
To identify the key trends in the industry,
click on the link below: https://www.reportsanddata.com/report-detail/tetrahydrofuran-thf-market
For a better
understanding of the study, Reports and Data have segmented the Tetrahydrofuran
market based on Type, Application, End-use, and Region:
Process Type
(Revenue in USD Million; Volume in Tons, 2016–2026)
- 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, 2016–2026)
- Polytetramethylene ether glycol
(PTMEG)
- Solvent applications
- Other Applications
End-Use (Revenue
in USD Million; Volume in Tons, 2016–2026)
- Polymer
- PVC
- Pharmaceutical
- Sealants & Adhesives
- Others
Regional
Outlook (Revenue in USD Million; Volume in Tons, 2016–2026)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Highlights of the TOC:
Chapter
1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2026
Chapter 3. Indicative Metrics
Chapter 4. Tetrahydrofuran Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
Continue……
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