Tetrahydrofuran Market Share

APAC Market Statistics

The Asia Pacific tetrahydrofuran market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising production of plastic made products and higher constructional activities. China produces over 7 million metric tonnes of plastic goods each month. Since January 2020, December 2021 saw the highest monthly production of plastic items, which was over 8 million metric tonnes. Furthermore, to establish the National Bank for Financing Infrastructure and Development (NaBFID), a $2.5 billion development finance institution, was approved by Parliament in March 2021 in order to finance infrastructure projects in India. Moreover, in India, where urbanization is predicted to increase from 33% to over 40% of the population by 2030, there will be a need for around 25 Million extra mid-range and inexpensive housing units.

North American Market Forecast   

The North American tetrahydrofuran market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market in the region is expected to grow on the back of the rising consumption of medicines by the people. Adults in the United States who use prescription medicines comprise about 66% of the population. Moreover, around 65% of Canadians between the ages of 40 and 79 use one or more prescription medicines.