Tetrahydrofuran (THF) is a highly volatile
organic substance used as raw material for ether formulation by polymerization.
It is synthesized by dehydrating butanediol (BDO) using any of the following
processes which includes rep, furfural, butadiene, and day process. THF is
widely used in the synthesis of other organic substances. The product finds
application in resin, solvents, and polytetramethylene ether glycol (PTMEG).
Polytetramethylene accounted for the largest market share owing to increasing
demand for the skin –tight garments. PTMEG is widely used in the production of
spandex fibres and polyurethane elastomers.
Growing textile industry with surging demand
for the sportswear, trendy garments and casuals coupled with changing fashion
trends is driving the market growth. Rising fitness activities as a result of
health consciousness among the consumers is fuelling the product demand. The
product use is increasing in adhesives, coatings, and inks owing to enlarging
demand from the end use industries such as automotive, construction, paints
& coatings, and packaging industry. Growing sports industry with rising
interest of the consumers towards adventure sports, tracking and other activities
for fitness is uplifting the market growth.
The product consumption is increasing in automobiles and building &
construction industry owing to greater load bearing capacity, high impact
strength and abrasion resistance.
Asia Pacific accounted for the largest market
share in the tetrahydrofuran market as a result of rapidly expanding textile
industry in the developing economies such as India and China. Additionally,
during 2016-17, total fibre exports of India reached to USD 598 billion.
However, rising imports post GST implementation are affecting the growth of
textile industry in India. Increasing spending on sportswear by the consumers
is driving the market growth in India further.
Tetrahydrofuran
Market – Competitive Analysis : Tetrahydrofuran is at the
growth stage and is expanding rapidly across the globe especially in the Asia
pacific region owing to the expanding textile industry. Some of the growing
trends noticed among the market players are acquisition. However, some market
players have stopped production of THF and butanediol as a result of fire
incidences happened at their manufacturing plants. For instance, BASF SE is
expanding its manufacturing capacity of the Tetrahydrofuran under the brand
name Cellasto in Gujarat. This is with respect to the growing demand for the
product from the automotive industry coupled with increasing spending on the
vehicles by the middle income group in India.
Industry/ Innovation/ Related News:
January, 2018 - BASF Corporation closed its THF and
butanediol plant in North America post two events that happened at Geismar,
Louisiana, manufacturing facility.
October, 2017– INVISTA, a leading integrated producer of
chemical intermediates, polymers, and fibers, signed aggrement to sell its
apparel and advanced textiles business to Shandong Ruyi Investment Holding.
INVISTA will retain intellectual property rights for 1.4 butanediol (BDO),
tetrahydrofuran (THF), and polytetramethylene ether glycol (PTMEG)
technologies.
August, 2017– Ashland has stopped production of 1.4
butanediol and tetrahydrofuran (THF) in Europe after the fire incidence took
place at its manufacturing facility at Marl, Germany.
Access Complete Report @ https://www.marketresearchfuture.com/reports/tetrahydrofuran-market-5804
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