The triacetin market was valued at USD 234.5 Million in 2016 and projected to reach USD 309.9 Million by 2022, at a CAGR of 4.8% during the forecast period. The Asia Pacific region is the largest consumer of triacetin across the globe. In terms of value, the Asia Pacific triacetin market is projected to grow at the highest CAGR during the forecast period. The increasing use of triacetin in tobacco, food & beverages, cosmetics, pharmaceuticals, and other industries is driving the growth of the triacetin market across the globe.

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High demand for spandex and polyurethane across the globe is driving the growth of the THF market. Increased demand for spandex from the textile and apparel industries due to the high strength and elasticity offered by spandex has led to increase in the production of Polytetramethylene Ether Glycol (PTMEG), thereby leading to the growth of the THF market. The growing demand for tetrahydrofuran from the chemical and textile industries is also leading to the growth of the THF market. The textile industry in emerging economies such as China and India is expected to witness increased demand for tetrahydrofuran during the forecast period.

Among technologies, the Reppe process segment led the THF market in 2017, in terms of volume.

The Reppe process segment led the THF market in 2017, in terms of volume.

The Reppe process is a mature technology and is widely used for the production of tetrahydrofuran due to its high production efficiency and low investment costs. It is also suitable for the mass production of tetrahydrofuran. Less number of steps involved in this process, saves the process time, thereby making manufacturing of tetrahydrofuran easy.

Among applications, the Polytetramethylene Ether Glycol (PTMEG) segment led the THF market in 2017, in terms of volume.

The PTMEG application segment led the THF market in 2017, in terms of volume. PTMEG is used in the production of spandex and polyurethane. Spandex is extensively used in women’s clothing such as leggings, form-fit garments, and trendy outfits; sportswear such as swimwear, athletic wear, and aerobic garments; and casual garments. Changes in trends in the apparel industry have been largely responsible for blending sportswear with the casual wear. In addition, the growing health awareness among masses has increased fitness activities across the globe. These trends have increased the demand for sportswear across the globe, thereby leading to the increased demand for spandex. This, in turn, is driving the demand for tetrahydrofuran in PTMEG application. Moreover, flourishing construction, automotive, and consumer goods industries have also fueled the consumption of polyurethane in PTMEG application, thereby leading to the increased demand for tetrahydrofuran.

The Asia Pacific THF market is projected to grow at the highest CAGR, in terms of volume during the forecast period.

The Asia Pacific region is the largest market for tetrahydrofuran. The Asia Pacific THF market is projected to grow at the highest CAGR, in terms of volume. Countries such as China and South Korea of the Asia Pacific region are expected to witness high growth during the forecast period. The Asia Pacific region is also a major market for textiles, packaging, automotive, and chemical processing, globally. Countries in the Asia Pacific region are expanding their production capacities and investing in new projects to decrease their dependence on imports, thereby fueling the regional energy security and autonomy. China has enormous production capacities for 1,4-Butanediol (BDO) and tetrahydrofuran. Moreover, the growing purchasing capacity of consumers, increasing dispensable income of the middle class population, and growing awareness among masses about benefits of fitness activities have surged the demand for spandex in sportswear. Government support for the promotion of various sports events in the Asia Pacific region has also led to increased demand for sportswear from the region, thereby leading to the increased demand for spandex. This, in turn, is contributing to the growth of the Asia Pacific THF market.

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Key Players in the THF Market

The key players operating in the THF market are BASF (Germany), Dairen Chemical (Taiwan), Ashland (US), INVISTA (US), Mitsubishi Chemical (Japan), LyondellBasell (the Netherlands), Sipchem (Saudi Arabia), Penn A Kem (US), Nova Molecular Technologies (US), and BioAmber (US), among others. These companies have adopted various dynamic business strategies to strengthen their position in the THF market.

List of Figures (33 Figures)

Figure 1 THF Market Segmentation
Figure 2 THF Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 THF Market: Data Triangulation
Figure 6 THF Market Size, By Volume (Kiloton) and Value (USD Billion), 2015—2022
Figure 7 Reppe Process to Be the Dominating Technology for THF
Figure 8 PTMEG to Be the Dominating Application of THF
Figure 9 China to Be the Largest THF Market
Figure 10 APAC Dominated the THF Market in 2016
Figure 11 Increasing Demand From PTMEG Application to Drive THF Market
Figure 12 PTMEG to Be the Largest Application of THF
Figure 13 Butadiene-Based Process Technology to Be the Fastest-Growing Application
Figure 14 APAC Dominated THF Market in 2016
Figure 15 Factors Governing THF Market
Figure 16 Porter’s Five Forces Analysis of THF Market
Figure 17 World Textile Trade Data (2005—2014)
Figure 18 Reppe Process to Be the Leading Technology for THF
Figure 19 Various Technologies Used for BDO Production
Figure 20 Davy Process
Figure 21 Cyclization of BDO
Figure 22 Furfural Technology
Figure 23 Bio-Based Process
Figure 24 PTMEG to Be the Leading Application of THF
Figure 25 APAC: THF Market Snapshot
Figure 26 North America: THF Market Snapshot
Figure 27 Europe: THF Market Snapshot
Figure 28 Market Ranking of Key Players, 2016
Figure 29 BASF: Company Snapshot
Figure 30 Ashland: Company Snapshot
Figure 31 Bioamber: Company Snapshot
Figure 32 Lyondellbasell: Company Snapshot
Figure 33 Sipchem: Company Snapshot

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