According to the latest review of Reports and Data, the global demand for Tetrahydrofuran was estimated at USD 3.2 trillion in 2019 and is forecast to hit USD 5.45 trillion by 2027, at a CAGR of 6.8 percent. Tetrahydrofuran is a colourless, reactive substance which is also water-miscible. Tetrahydrofuran is an excellently stable compound with a moderately low boiling point and first-rate solvency. THF is typically used for the degradation of several compounds as well as feedstocks in the synthesis of polytetramethylene ether glycol (PTMEG). The derivative of saturated furan is tetrahydrofuran. Tetrahydrofuran is an ideal solvent at atmospheric temperatures for higher molecular compounds, such as polyvinyl chloride and other copolymers. In combination with methyl-ethyl-ketone, tetrahydrofuran helps increase the solvency of multiple polymer compounds.

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The tetrahydrofuran market is increasing as the compound has a wide range of uses including PVC top coatings in the automotive industry and polyurethane coatings for cloth finishes. The chosen ink solvent which is used for PVC film printing is tetrahydrofuran. In addition, tetrahydrofuran use has proliferated in consumer segments, such as PVC welding components and other leather-related adhesive applications and polymer compositions. The tetrahydrofuran industry finds major opportunities for use in the chemical industries. In certain chemical compounds which are inorganic, THF solvency consistency is used. The components and solutions of tetrahydrofuran are also used as reagents, catalysts and for polymerization. The pharmaceutical industry still routinely uses oxolane or tetrahydrofuran for solvent cleansing used in chemical production and processing machinery.

Tetrahydrofuran is commonly used in the production of polyurethane resins and is widely adopted for its lightweight properties in the aerospace, manufacturing and electronic industries. The development of the market for tetrahydrofuran is expected to fuel this. Strict environmental regulations on fossil fuel burning to control toxic gas emissions can impede business development. Under the Hazardous Material Control Act, numerous changes have been introduced to encourage environmental discourse by using the environmentally friendly product production approach of the tetrahydrofuran industry.

Over the projected period, the Asia Pacific tetrahydrofuran market is expected to have a CAGR of 7 percent, led by North America and Europe, with a CAGR of 6.9 percent and 6.7 percent. The key driver for accelerated demand growth in all regions during the forecast timeframe is the widespread use of THF across industries. The Asia Pacific region is expected to possess 50.6 percent of global oxolane production. The rise in solvent applications in countries such as India, China, Australia and Korea will also add to this increase in the industry's revenue growth.

North America's tetrahydrofuran market, led by end-use industries, is predicted to see considerable growth over the forecast timeline in the U.S., Canada and Mexico. The production of numerous processing aids and solvents in the petroleum industry is likely to spur the industry's growth. The European market for oxolane, led by the United Kingdom, France, Italy and Germany, is expected to rise as a result of growing demand for ready-to-eat food and take-away food.

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: 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

Regional Outlook (Revenue in USD Million; Volume in Tons, 2017–2027)

North America
S.
Canada
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Middle East & Africa
Latin America
Brazil

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