Tetrahydrofuran Market Trends

Growth Drivers

Growing Building and Construction Sector – Tetrahydrofuran is used in polyurethane coating and paints. The demands for paints and coatings is expected to increase with rising construction. In 2021, France had more residential buildings than any other nation in Europe, with over 471,000 homes being built. Germany came in second with 310,000 homes being built.
Rising Demand of Polyurethane – THF is a major component of polyurethane fibers and urethane elastomers. An estimated of around 18 million tonnes of polyurethanes were consumed globally in 2019, and nearly 23 million tonnes are anticipated to be consumed by 2024.
Increasing Consumption of Prescribed Drugs – Tetrahydrofuran are the chemical intermediate that is used in the manufacturing of various drugs. Over 26% of adults in the UK use prescription drugs. Moreover, 35% of Australians use prescription drugs daily.
Growing Use of Plastic-Made Products – Tetrahydrofuran acts as a solvent for manufacturing polyvinyl chloride (PVC), which in turn is used in producing automotive plastics, packaging plastics, and others. According to the UN Environment Program, by 2050, 1,100 million tonnes of primary plastic are expected to be produced worldwide. Furthermore, single-use plastic goods for food and beverage containers make up about 36% of all plastics produced for packaging.
Growing Global Chemical Industry – It is frequently used to dissolve and react with different compounds. Moreover, it serves as a precursor in the synthesis of a number of other chemical. The global chemical industry rose by nearly 4% in 2022

Challenges

Health-related disorder caused by tetrahydrofuran - The increasing use of tetrahydrofuran imposes various risk to health, such as dryness, rashes and cracks on skin. Moreover, inhaling tetrahydrofuran can lead to breathing problems, coughing, wheezing and others. additionally, prolonged exposure can cause unconsciousness and even death.
Tetrahydrofuran is highly inflammable
They are carcinogenic in nature

Tetrahydrofuran Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	8.3%
Base Year Market Size (2024)	USD 4.72 billion
Forecast Year Market Size (2037)	USD 13.4 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of tetrahydrofuran is estimated at USD 5.04 billion.

The tetrahydrofuran market size was over USD 4.72 billion in 2024 and is likely to cross USD 13.4 billion by the end of 2037, witnessing more than 8.3% CAGR during the forecast period i.e., between 2025-2037. Growing construction and chemical industry, rising consumption of medicines, and higher production of plastics will boost the market growth.

Asia Pacific is poised to dominate majority industry share by 2037, propelled by rising production of plastic made products and higher constructional activities.

The major players in the market include Mitsubishi Chemical Corporation, Banner Chemicals Limited, Ashland Global Holdings Inc., DCC plc, Dairen Chemical Corporation, LyondellBasell Industries Holdings B.V., Koch Industries, Inc., Nova Molecular Technologies, Inc., PENNAKEM, LLC.

Tetrahydrofuran Market Trends