Tetrahydrofuran Market by Growth 2035
Research Nester published a report titled “Tetrahydrofuran Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global tetrahydrofuran market in terms of market segmentation by end user, application, technology, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The tetrahydrofuran (THF) market is estimated to occupy a large revenue by growing at a CAGR of ~8% during the forecast period, i.e., 2023 – 2035, owing to the high demand for THF from end users, increasing construction and infrastructural development, and rising demand for spandex from textile industry. Along with these, growing need for PVC and polyurethane manufacturing across the world are also expected to drive market growth in the upcoming years.
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The global tetrahydrofuran market is segmented by end user, application and technology. Based on application, the polytetramethylene ether glycol (PTMEG) segment is anticipated to grab the largest market share during the forecast period on the back of increasing usage of THF for PTMEG production and growth of chemical industry globally. Additionally, by technology, the Reppe process segment is projected to grab largest market share in the future accounting to the production efficiency and suitability of the process for mass production of THF.
Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific region is evaluated to grab the largest share in the market during the forecast period ascribing to the rise in demand for tetrahydrofuran from China, India and Japan, surge in growth of textile, automotive, packaging and pharmaceutical industries.
Intensifying Demand for Tetrahydrofuran from End Users to Drive Market Growth
Tetrahydrofuran is extensively used as a solvent for organic synthesis and plastic production. Along with this, it is an essential component for the manufacturing of textile paints, coating and polymer. As the production capacity of end users industries is witnessing a hike in order to meet the high demand, the market is expected to observe expansion in the forthcoming years.
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However, hazardous effects of the chemical on health of animals and humans are expected to operate as key restraint to the growth of the tetrahydrofuran market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global tetrahydrofuran market which includes company profiling of BASF AG, Mitsubishi Chemical Corporation, Banner Chemicals Limited, Ashland Global Holdings Inc., DCC plc, Dairen Chemical Corporation, LyondellBasell Industries Holdings B.V., Koch Industries, Inc., Nova Molecular Technologies, Inc., PENNAKEM, LLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the tetrahydrofuran market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Access our detailed report at: https://www.researchnester.com/reports/tetrahydrofuran-market/3166
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