Tetrahydrofuran (THF) Market worth 4.12 Billion USD by 2022

Tetrahydrofuran (THF) market was valued at USD 2.77 Billion in 2016 and is projected to reach USD 4.12 Billion by 2022, at a CAGR of 6.9% during the forecast period from 2017 to 2022. The growing demand for spandex fibers and polyurethane across the globe is driving the growth of the THF market.

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Key Market Players - 

The key players profiled in the report include BASF (Germany), Dairen Chemical (Taiwan), Ashland (US), INVISTA (US), Mitsubishi Chemical (Japan), LyondellBasell (the Netherlands), Sipchem (Saudi Arabia), Penn A Kem (US), Nova Molecular Technologies (US), and BioAmber (US), among others.

Among technologies, the Reppe process segment led the THF market in 2017, in terms of volume.

The Reppe process segment led the THF market in 2017, in terms of volume. The Reppe process is a mature technology and is widely used for the production of tetrahydrofuran due to its high production efficiency and low investment costs. It is also suitable for the mass production of tetrahydrofuran. Less number of steps involved in this process, saves the process time, thereby making manufacturing of tetrahydrofuran easy.

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Among applications, the Polytetramethylene Ether Glycol (PTMEG) segment led the THF market in 2017, in terms of volume.

The PTMEG application segment led the THF market in 2017, in terms of volume. PTMEG is used in the production of spandex and polyurethane. Spandex is extensively used in women’s clothing such as leggings, form-fit garments, and trendy outfits; sportswear such as swimwear, athletic wear, and aerobic garments; and casual garments. Changes in trends in the apparel industry have been largely responsible for blending sportswear with the casual wear. In addition, the growing health awareness among masses has increased fitness activities across the globe. These trends have increased the demand for sportswear across the globe, thereby leading to the increased demand for spandex. This, in turn, is driving the demand for tetrahydrofuran in PTMEG application. Moreover, flourishing construction, automotive, and consumer goods industries have also fueled the consumption of polyurethane in PTMEG application, thereby leading to the increased demand for tetrahydrofuran.

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