Tetrahydrofuran Market Regional Analysis:
APAC Market Insights
Asia Pacific region is set to dominate around 58.8% market share by 2035. The market growth is impelled by 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 Insights
The North American tetrahydrofuran market will register substantial growth through 2035. The market growth in the region is propelled by 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.
