Dublin, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The "Global Tetrahydrofuran Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030" report has been added to ResearchAndMarkets.com's offering.
Global Tetrahydrofuran demand stood at 1.46 Million Tonnes in 2020 and is forecast to reach 2.778 Million Tonnes by 2030, growing at a healthy CAGR of 6.85% until 2030.
Tetrahydrofuran is an organic compound. It is majorly used as a solvent for plastics and as an intermediate in organic synthesis. The major applications of tetrahydrofuran are polytetramethylene ether glycol (PTMEG) and solvents. PTMEG is used in the manufacturing of spandex and other polyurethanes.
Major end-use industries for tetrahydrofuran include polymer, textile, pharmaceutical, paints and coatings, and others. Growing demand for spandex and paints and coatings coupled with the increasing demand of other end-use industries is expected to drive the demand for tetrahydrofuran for the forecast period.
Tetrahydrofuran is manufactured through several processes therefore, it can be segmented by technology as reppe process, davy process, propylene oxide process, butadiene process.
Among the processes, the reppe process leads the global market for tetrahydrofuran due to its industrial viability and low cost. Stringent environmental regulations and high manufacturing costs coupled with the increasing need for green solvents are expected to hinder demand growth during the forecast period.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on several industries. Construction and textile were among the most affected industries during the pandemic. This had an impact on the demand for paints and coatings and spandex for the first half of 2020. Therefore, the demand for tetrahydrofuran fell during the coronavirus pandemic from the paints and coatings and textile segment.
Region-wise, Asia-pacific region holds the major share of global demand for tetrahydrofuran due to the increasing demand of application industries such as paints and coatings, and textiles. Moreover, an increasing number of polymers using tetrahydrofuran as solvent is also an influencing factor supporting demand rise in the Asia-Pacific.
Major players for tetrahydrofuran globally include BASF, Dairen Chemical, Ashland, INVISTA, Mitsubishi Chemical, LyondellBasell, Sipchem, Penn A Kem, Nova Molecular Technologies, and BioAmber.
Years Considered for this Report:
- Historical Period: 2015-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2030
Objective of the Study:
- To assess the demand-supply scenario of tetrahydrofuran which covers production, demand and supply of tetrahydrofuran market globally.
- To analyse and forecast the market size of tetrahydrofuran .
- To classify and forecast global tetrahydrofuran market based on technology, end-use and regional distribution.
- To identify drivers and challenges for global tetrahydrofuran market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global tetrahydrofuran market.
- To identify and analyse the profile of leading players involved in the manufacturing of tetrahydrofuran.
Key Topics Covered:
1. Global Tetrahydrofuran Market Outlook, 2015-2030
1.1. Capacity, By Volume
1.1.1. By Company
1.2. Production, By Volume
1.2.1. By Company
1.3. Operating Efficiency
1.3.1. By Company
2. Global Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
2.1. By End Use
2.2. By Application
2.3. By Region
2.4. By Company
3. North America Tetrahydrofuran Market Outlook, 2015-2030
4. North America Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
5. Asia Pacific Tetrahydrofuran Market Outlook, 2015-2030
6. Asia Pacific Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
7. Europe Tetrahydrofuran Market Outlook, 2015-2030
8. Europe Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
9. MEA Tetrahydrofuran Market Outlook, 2015-2030
10. MEA Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
11. South America Tetrahydrofuran Market Outlook, 2015-2030
12. South America Tetrahydrofuran Demand Outlook, 2015-2030, By Volume
For more information about this report visit https://www.researchandmarkets.com/r/himdf3
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