The Global Market for Tetrahydrofuran (THF) is Projected to Exceed 1.0 Million Metric Tons by 2020

Wide Ranging Applications of Tetrahydrofuran-Based Poly Tetra Methylene Ether Glycol Drives Global Demand, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Tetrahydrofuran (THF) market. The global market for Tetrahydrofuran (THF) is projected to exceed 1.0 million metric tons by 2020, driven by wide ranging applications of THF-based poly tetra methylene ether glycol (PTMEG), and rising demand for eco-friendly corncobs-based 2-Methyltetrahydrofuran (2MeTHF).

Tetrahydrofuran (THF), also known as Diethylene Oxide or Tetramethylene Oxide, is an extremely flammable, clear, and colorless liquid, majority of which is used as an intermediate for the production of poly tetra methyl ether glycols (PTMEG). THF represents one of the most crucial ethers and is fully hydrogenated analogue of furan, an aromatic compound. The highly volatile and general purpose organic solvent, offers outstanding solvent strength for several organic substances. Prospects for THF is intrinsically linked to market dynamics in the 1,4-butanediol (BDO) market in terms of prices, imports, exports, oversupply or undersupply as over 50% of THF is manufactured using BDO. Growth in the THF market is primarily driven by wide ranging applications of THF-based poly tetra methyl ether glycols (PTMEG) in spandex fibers, thermoplastic polyurethane (TPU), cast urethane elastomers, urethane adhesives, sealants as well as surface coatings supported by its superior attributes of hydrolysis and fungus resistance, low temperature flexibility, minimum heat build-up, high resiliency, low viscosity and lowest noise characteristics.

Copolyester-ether elastomers (COPE) represent another high-growth application of THF-derived PTMEG that is expected to benefit market prospects in the coming years. COPE, owing to its unique features of easy processability, oil and other chemicals resistant as well as low temperature flexibility, is widely used in seating, airbag deployment, air intake ducts, hoses and tubing in automotive applications as well as breathable films in the medical industry. Rising use of THF in industrial applications as a resin solvent in PVC and CPVC pipe cement, magnetic tapes, inks for plastics; and polyurethane fabric coaters, and as a reaction solvent in alkali metals, pharmaceuticals and specialty chemicals, and steroids, is also expected to bode well for market expansion in the coming years. Increasing focus on green chemistry is expected to drive demand for corncobs-based 2-MethylTetrahydrofuran (2MeTHF), which is currently being popularized as an environment-friendly substitute for petroleum-based tetrahydrofuran.

As stated by the new market research report on Tetrahydrofuran (THF), Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 13.2% over the analysis period. China ranks as the largest producer and consumer of THF. The country’s dominance is supported by robust demand for PTMEG-based spandex in the apparel industry. A shape memory polymer, Spandex is widely popular for its unique strength and strong elasticity. Fashion revival of form fitting clothes, and demand for belts, swimwear, cycling jerseys, leggings, gloves, active wear, and athletic, aerobic and exercise garments, will therefore benefit downstream consumption of Tetrahydrofuran (THF) in spandex production. 

Key players covered in the report include Ashland, Inc., BASF SE, BioAmber, Inc., Dairen Chemical Corporation, Invista, Mitsubishi Chemical Corporation, Penn A Kem LLC, Saudi International Petrochemical Company, Shanxi Sanwei Group Co., Ltd., Sigma-Aldrich Corp., Sinochem International Corporation, TCC Chemical Corporation, and Zibo Linzi Bingqing Fine Chemical Factory, among others.

The research report titled “Tetrahydrofuran: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and strategic industry activities of global companies. The report provides market estimates and projections in volume (Metric Tons) for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Key end-use segments analyzed in the report include poly tetra methyl ether glycols (PTMEG), and Solvent.

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