The global tetrahydrofuran market is forecast to increase from $2.15 billion in 2019 to $3.2 billion in 2026 at a compounded annual growth rate (CAGR) of 6.44%.
Strong growth in production volume coupled with investments in capacity expansion activities will support the industry growth. In particular, the demand for spandex and PU elastomers during the forecast period will drive the market growth.
In the pre-COVID case scenario, the industry is forecast to register 8.11% from $2.4 billion in 2020 to $3.88 billion in 2026.
Trends, Drivers and Challenges
Growing Demand for Spandex Fiber - Spandex, Lycra, or elastane is a synthetic fiber often considered as the next generation fiber. The lightweight, soft smooth synthetic fiber is increasingly being used in the garment industry driven by its elasticity property, in particular, in stretchable clothing.
Increasing Environmental Regulations - The companies operating in the global THF market are subjected to several stringent regulations in their business, as the companies are handling chemicals, which may cause harm to humans. The companies have to monitor the whole life cycle of THF from manufacturing, logistics, to final consumption, and disposal in order to reduce toxic effects, which could be affected by the regulations governing the global chemical industry.
Increasing Importance of Green Chemistry - Green chemistry is the design of chemical products and processes that reduce or eliminate the use or generation of hazardous substances according to the EPA (US). The green chemicals market is estimated to be around $92 billion in 2020 and is forecast to register over 8.5% compounded annual growth rate (CAGR) over the forecast period to 2026.
Leading Segments and Geographies
Acetylene based manufacturing process remains the most Dominant technology for Tetrahydrofuran worldwide with 39.5% market share in 2019. Further, over the forecast period to 2026, the segment will record 6.8% growth rate to reach $xxxx.x million in 2026.
PTMEG (Polyurethane Fibres) is the dominant application of THF and the segment is expected to register highest growth rate of 7.01% during the forecast period to 2026.
Solvents segment of Asia-Pacific Tetrahydrofuran market is contributing 20.3% of the total market in 2020.
Key Manufacturing Processes of Tetrahydrofuran
Key Applications of Tetrahydrofuran
PTMEG (Polyurethane Fibers)
PTMEG (Polyurethane Elastomers)
Key Regions of Tetrahydrofuran
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Spain, Netherlands, Rest of Europe)
Asia-Pacific (China, India, Japan, Rest of APAC)
Middle East and Africa (Middle East, Africa, Rest of MEA)
South and Central America (Brazil, Argentina, Chile, Rest of SCA)
The report- ‘2021 Tetrahydrofuran (THF) Market - Size, Share, COVID Impact Analysis and Forecast to 2027’ presents growth projections in the Tetrahydrofuran (THF) Market between 2021 and 2027 for companies operating across different types, applications, and end-user verticals.
Short-term and long-term trends affecting the market landscape are included in the research. Further, market drivers, restraints, and potential opportunities are also provided in the report.
The Tetrahydrofuran (THF) Market report computes the 2020 market value in revenue terms based on the average Tetrahydrofuran (THF) prices and sales/revenue models of key companies operating in the Tetrahydrofuran (THF) Industry. The study forecasts the market size to 2027 for different types of Tetrahydrofuran (THF) and provides respective market share and growth rates.
The study discusses technological innovations and the potential shift in demand among various products in the Tetrahydrofuran (THF) Market, over the forecast period. The leading five companies in the Tetrahydrofuran (THF) Industry together with their products, key strategies, and comparisons are provided.
The Tetrahydrofuran (THF) Market size, share, and outlook across different types and applications are provided at geographic levels of North America, Asia Pacific, Europe, Middle East Africa, South and Central America. Further, country-level Tetrahydrofuran (THF) Market value is also provided.
All recent developments in Tetrahydrofuran (THF) Industry including mergers, acquisitions, contract awards, licenses, product launches, and expansion plans are included in the report.
• Base Year- 2020; Forecast period: 2021- 2027
• Publication frequency- Every six months
• Research Methodology- Data triangulation with top-down and Bottom-up approach are used for market size
Scope of the Report -
• Global Tetrahydrofuran (THF) Industry size, 2020- 2027
• Market trends, drivers, restraints, and opportunities
• Porter’s Five forces analysis
• Types of Tetrahydrofuran (THF) , 2020-2027
• Tetrahydrofuran (THF) applications and end-user verticals market size, 2020- 2027
• Tetrahydrofuran (THF) Market size across countries, 2020- 2027
• 5 leading companies in the industry- overview, key strategies, financials, and products
• Latest market news and developments
Additional support -
• All the data presented in tables and charts of the report is provided in a separate Excel document
• Print authentication extended
• 10% free customization to include any specific data/analysis to match with the requirement
• 3 months of analyst support