세계의 테트라히드로푸란(THF) 시장 : 수요 분석, 지역별, 용도별, 예측(-2034년)

Tetrahydrofuran, commonly known as THF, is a clear, colorless organic liquid with a wide range of industrial uses. It's best known for being a highly effective solvent due to its water solubility and low viscosity. One of its primary uses is as a building block in the production of polymers that are used in coatings, adhesives, and printing inks.

THF is typically produced in three main ways and the most common method, used by companies like Ashland, involves the acid-catalyzed dehydration of 1,4-butanediol. Another method, developed by DuPont, starts with the oxidation of n-butane to create maleic anhydride, which is then converted into THF through catalytic hydrogenation. A third process includes modifying allyl alcohol through hydroformylation and then hydrogenating it to form 1,4-butanediol, which is further processed into THF.

THF Market Overview

The global THF market was valued at more than USD 3.5 billion in 2024. With steady growth projected over the next decade, it's estimated to cross USD 8 billion by 2034, growing at an annual rate of 5.8%. The market is mainly divided into two segments: its use as a solvent and as a raw material for producing polytetramethylene ether glycol (PTMEG). The PTMEG segment leads the market since THF is essential in creating this compound, which is a key ingredient in making spandex fibers.

Besides spandex, THF is used in manufacturing several types of plastics, including polyurethane and PVC. It also plays a role in producing specialty materials like PTFE and is used as a co-solvent in making cellulose acetate. In pharmaceuticals, THF serves as a crucial solvent for synthesizing and purifying active ingredients in various medications.

Regional Insights

In 2024, global demand for THF was about 1,500 kilo tons and is projected to grow by around 4.5% annually through 2034. The Asia Pacific region leads the way, using more than 70% of the world's THF, with China alone accounting for over 40% of global consumption. This high demand is driven by the rapid growth of the spandex and polyurethane markets, especially in Asia. North America and Western Europe also contribute to the THF market, particularly in the production of polyurethane elastomers.

Major THF Manufacturers

Key players in the THF market include BASF SE, Invista, LyondellBasell, Dairen Chemical, Ashland, Nova Molecular Technologies, Mitsubishi Chemical, and Sipchem.

Growing Industrial Demand

The rising demand for THF across multiple industries is creating strong opportunities for its manufacturers. It's widely used in making vinyl polymers and synthetic resins. THF also acts as a key ingredient in producing a range of chemicals including adipic acid, succinic acid, butadiene, and gamma-butyrolactone. It even has applications in fuel additives, perfumes, and pesticides.

In the pharmaceutical sector, THF is crucial in making compounds like carbetapentane, rifamycin, and hormones such as progesterone. It also serves as a reaction medium in processes like the Grignard reaction or reductions using lithium aluminum hydride common in drug development.

Health and Safety Concerns

Despite its many uses, THF poses certain health and safety risks. Overexposure can lead to headaches, dizziness, and irritation of the respiratory tract. When exposed to air over time, THF can form explosive compounds called peroxides, making proper storage essential. It's also highly flammable and is considered a potential carcinogen, which adds to the safety concerns. These health hazards may slow down its market growth in the coming years if not properly managed.

Table of Contents

1. Introduction

2. Terms & Conditions of Use

3. Explanatory Notes

• Market Coverage
  • Application
  • Regions
  • Countries
• Years Considered
  • Historical - 2018 - 2023
  • Base - 2024
  • Forecast Period - 2025 - 2034
• Research Methodology
  • Approach
  • Research Methodology
  • Prismane Consulting Market Models
  • Assumptions & Limitations
  • Abbreviations & Definitions
  • Conversion Factors
  • Data Sources

4. Market Synopsis

• Market Evolution
• Demand Overview
• Industry Structure
• Strategic Issues
• End-use Trends
• Growth Forecast

5. Global Economic Outlook

• GDP and Demographics
• Monetary & Fiscal Policies

6. Energy Outlook

• Crude Oil
• Natural Gas
• Electricity Prices

7. End-use Sector Performance

• Paints & Coatings
• Pharmaceutical
• Electrical & Electronics
• Others

8. Introduction to Tetrahydrofuran (THF) and Market Overview

• Product Description
• Grades & Properties
• Raw Material
• Manufacturing Process
• Environmental Issues
• Value Chain
• Applications

9. Market Dynamics and Industry Trends

• Market Dynamics
  • Drivers
  • Restraints
  • Opportunities
  • Challenges
• Industry Structure

10. Global Tetrahydrofuran (THF) Demand Analysis By Application (Volume, Value) (2018 - 2034)

• Strategic Issues
• Demand Analysis and Forecast (2018 - 2034)
• Demand
• Demand Growth Rate (%)
• Driving Force Analysis
• Global Tetrahydrofuran (THF) Market, By Application
• Polytetramethylene Ether Glycol (PTMEG)
• Solvent
• Others

11. Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2018 - 2034)

• Strategic Issues
• Demand Analysis and Forecast (2018 - 2034)
• Demand
• Demand Growth Rate (%)
• Tetrahydrofuran (THF) Market, By Application

Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by Applicationhas been provided for each of the countries / regions in Volume (Kilo tons) and Value (USD Million).

• North America
• USA
• Canada
• Mexico
• Western Europe
• Germany
• France
• Italy
• United Kingdom
• Spain
• Rest of Western Europe
• Central & Eastern Europe
• Russia
• Poland
• Rest of Central & Eastern Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• Central & South America
• Middle East & Africa

Note: CAGR will be calculated for all the applications to arrive at the regional / global demand growth for the forecast period (2025 - 2034)

12. Business Opportunity Assessment

• Market Attractiveness Assessment
• Prospective & Target Market Study

13. Strategic Recommendation & Suggestions

14. Pricing Analysis

• Average Prices
• Price Forecast

15. Company Analysis

• Tetrahydrofuran (THF) Manufacturers Profiles/ Company Analysis
• Basic Details
• Headquarter, Key Markets
• Ownership
• Company Financial
• Manufacturing Bases
• Global Turnover
• Total Employee
• Product Portfolio / Services / Solutions
• Recent Developments

Companies Covered -

• BASF SE
• Invista
• LyondellBasell
• Dairen Chemical
• Ashland
• Nova Molecular Technologies
• Mitsubishi Chemical
• Sipchem
• Other Manufacturers

Note: This section includes company information, company financials, manufacturing bases and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.

16. Appendices

• Target Markets
• Demand - Regions
• Demand - Countries