The product demand is increasing from sports
industry due to rising interest of the consumers towards adventure sports for
fitness. Escalating demand from automobile industry for rigid insulation lanes
is driving the market for polyurethane elastomers. Increasing use of building
and construction industry due to abrasion resistance is fuelling the
polyurethane demand.
Additionally, flexible polyurethane form is
increasingly used in the furniture making, and packaging industry is owing to
greater strength, high durability and excellent comfort. Moreover, it is used
as a chemical reagent in pharmaceutical synthesis, which may fuel the demand
for the product from the pharmaceuticals industry. Among the other processes
used for synthesizing tetrahydrofuran, ripe is most widely used due to high
efficiency and greater cost-effectiveness of this process.
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Tetrahydrofuran is widely used in the formulation of
organic substances. It can be synthesized through four chemical processes such
as reppe, furfural, butadiene, davy, and others. The product is significantly
used as a precursor in the manufacturing of polytetramythelene ether glycol and
is also used as a different type of solvents such as reaction, resin, and
chromatographic solvents. It is widely used in the manufacturing of spandex and
polyurethane elastomers. Spandex is used in the manufacturing of sportswear due
to its high elastic property, casual wear, and home furnishing.
Key
Player:
·
BASF Corporation
·
Dairen Chemical Corporation
·
Merck KGaA
·
Technical Chemical Compan
·
Mitsubishi Chemical Corporation
·
Ashland
·
INVISTA
·
BioAmber Inc
·
LyondellBase
·
Credence Chem Private Limited
Browse key industry insights spread across 100 pages
with data tables and figures of the report “Tetrahydrofuran Industry information: by Manufacturing Process (reppe,
furfural, butadiene, davy and others), Application (polytetramethylene ether
glycol, solvents, and others), and Global Region” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/tetrahydrofuran-market-5804
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.
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.
Regional
Analysis
Asia
Pacific region is witnessing a significant growth for tetrahydrofuran due to
its extensive use in the major end-use industries in this region such as
textile and apparel industry; it is one of the fastest growing industries in
India and China. Growing penetration of organized retailers and increasing
sales and trading through e-commerce mode is propelling the growth of the
regional market. Furthermore, the demand for the product from paints and
coatings industry is increasing due to growing demand from the residential and
commercial building construction and automotive industry in this region,
especially in India, China, South Korea, and Thailand.
North
America and Europe regions are expected to witness a sluggish growth during the
assessment period owing to the stringent government regulations in place to
limit the production of tetrahydrofuran, which harms the health and
environment.
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