Tetrahydrofuran (THF) Market Analysis: Growth of the Polymer Industry in China and India to Reinforce Demand

  • Published On : Dec 07, 2018

PMR presents a detailed analysis that delivers insights on the global Tetrahydrofuran (THF) market in its latest report titled ‘Tetrahydrofuran (THF) Market: Global Industry Analysis 2013-2017 & Forecast 2018-2026’. The global Tetrahydrofuran (THF) market is estimated to be valued at US$ 1,535.4 Mn in 2018 and is projected to reach a value of US$ 2,799.7 Mn by 2026 end, growing at a value CAGR of 7.8%. The PTMEG application segment is expected to account for the leading share in terms of value and volume over the forecast period. It is also projected to expand at a relatively higher CAGR than solvent and pharmaceutical segments. Among all regions, Asia Pacific excluding Japan (APEJ) is expected to remain dominant throughout the forecast period with a CAGR of 9.9% from 2018 to 2026. The report also includes major drivers and market dynamics impacting the Tetrahydrofuran (THF) market.

Global Tetrahydrofuran (THF) Market: Dynamics

Numerous investments have been made in the manufacturing of spandex in Asia Pacific over the last few years. The rapidly growing consumption of spandex is driving the demand for PTMEG globally, especially in the Asia Pacific Excluding Japan (APEJ). Long-term supply agreements with major end-users such as pharmaceutical manufacturers and polymer manufacturers, amongst others are also part of the market developments in the Tetrahydrofuran (THF) market. Rising production of special purpose textiles and sportswear is fuelling the demand for PTMEG in spandex production. Tetrahydrofuran (THF) is one of the major intermediates in the production of PTMEG. The solvents application of Tetrahydrofuran (THF) is also growing at a decent rate. High growth in the polymer industry from China and India is driving the demand for Tetrahydrofuran (THF) from the solvents application. The increasing pharmaceutical applications of Tetrahydrofuran (THF) have also been bolstering the market growth in emerging regions. PTMEG application accounted for the largest share of the global Tetrahydrofuran (THF) market, followed by the solvents application. Population growth in India and China is pushing the consumption of PVC, which in turn is driving the demand for Tetrahydrofuran (THF).

Among all regions, APEJ is projected to lead the global Tetrahydrofuran (THF) market during the forecast period. The large population base and established industrial base in China and other emerging countries in APEJ are expected to drive the demand for Tetrahydrofuran (THF) in the regions during the forecast period. Large scale Spandex production in China and growth of the pharmaceutical industry in India are some of the driving factors for the Tetrahydrofuran (THF) market in APEJ.

Global Tetrahydrofuran (THF) Market: Segmental Analysis

On the basis of application, the Tetrahydrofuran (THF) market has been segmented into PTMEG, Solvents and Pharmaceuticals.

  • The PTMEG segment is expected to lead the Tetrahydrofuran (THF) market in terms of both value and volume during the forecast period with more than a 60% share of the global Tetrahydrofuran (THF) market
  • The PTMEG segment is also projected to attain a higher CAGR as compared to other segments during the forecast period. The segment is projected to create a total incremental opportunity of US$ 849.3 Mn during 2018 to 2026 in the global Tetrahydrofuran (THF) market

Global Tetrahydrofuran (THF) Market: Regional Forecast

APEJ leads the Tetrahydrofuran (THF) market with more than a 60% value share of the global Tetrahydrofuran (THF) market while Europe accounts for the second largest share in the Tetrahydrofuran (THF) market. APEJ is expected to be the fast growing region with a CAGR of 9.9% during 2018-2026. Large population base and rapid population growth, improving economic conditions and large application industry base are some of the important factors driving the demand for Tetrahydrofuran (THF).

View Report Table of Contents, Figures, and Tables

Global Tetrahydrofuran (THF) Market: Competition Landscape

The report highlights some of the top companies operating in the global Tetrahydrofuran (THF) market, including Dairen Chemical Corporation, Nan Ya Plastics, BASF, Ashland, INVISTA, Lyondellbasell and SIPCHEM, among others.

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