According to a new report, published by KBV research, The Global Tetrahydrofuran (THF) Market size is expected to reach $7.3 billion by 2030, rising at a market growth of 7.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,670.66 Kilo Tonnes experiencing a growth of 6.0% (2019-2022).
The Paints & Coatings segment is generating highest revenue in the Global Tetrahydrofuran (THF) Market, by End-Use in 2022; thereby, achieving a market value of $3 Billion by 2030. THF is a critical component in synthesizing polyurethane coatings, widely used in the paints & coatings segment. Polyurethane coatings offer exceptional durability, weather resistance, and versatility. The synthesis process involves using THF as a solvent and precursor in the formation of polyurethane resins, making THF an integral component in producing high-performance coatings. THF exhibits excellent solvent properties, facilitating the dissolution of various resins and polymers used in the production of coatings. This characteristic enhances the consistency and workability of coatings, contributing to their performance and application properties.
The Solvents segment is experiencing a CAGR of 7.3% during (2023 - 2030). Tetrahydrofuran is utilized as a solvent in various chemical synthesis processes. Its ability to dissolve various chemicals and reagents makes it a preferred medium for reactions such as Grignard reactions and organometallic chemistry. The solvents segment supports these chemical processes by providing a suitable reaction environment. THF is utilized in the electronic industry as a solvent to produce electronic components, such as coatings for circuit boards. Its solvency properties contribute to the uniform deposition of thin films and coatings in electronic manufacturing processes.
The Asia Pacific region dominated the Global Tetrahydrofuran (THF) Market, by region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.6 Billion by 2030. The North America market is anticipated to grow a CAGR of 6.2% during (2023 - 2030). Additionally, The Europe market would witness a CAGR of 6.4% during (2023 - 2030).
Full Report:https://www.kbvresearch.com/tetrahydrofuran-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Mitsubishi Chemical Holdings Corporation, BASF SE, Honeywell International, Inc., Univar Solutions, Inc., Toray Industries, Inc., Ashland Inc. (Ashland Global Holdings Inc.), Merck KGaA, LyondellBasell Industries Holdings B.V., Eastman Chemical Company, and Tokyo Chemical Industry Co. Ltd.
By End-Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Companies Profiled
Unique Offerings 
