The market for THF is large and spread globally due its importance in plastics and rubbers. Most of its application lie within its use for polymerization to manufacture PTMEG and as a polar solvent. Though the PTMEG market is stable, THF is facing competition in the solvents market from other similar chemicals with better chemical properties. The report describes the product and its application. It also talk about a few trends in the market and the key players involved In the market.
What is Tetrahydrofuran (THF)?
Tetrahydrofuran is an organic compound, having the chemical formula C4H8O. It is classified as a cyclic ether with an ethereal scent. It is a colorless, water miscible liquid. It is also highly volatile and flammable. It is highly polar in nature and hence, is an excellent solvent for many organic substances. Due to its mutagenic properties and flammability it is highly hazardous and must be handled with extreme care and caution.
What are the applications of Tetrahydrofuran?
Industrial applications of Tetrahydrofuran (THF) include the manufacture of polytetramethylene ether glycol (PTMEG), solvent in paints, ink, dyes and solvent for organic compounds like resin and polymers and during chromatography. It is also used as a treatment agent for surface treatment. It is also used as intermediates in the pharmaceutical sector for manufacturing other API’s and as a solvent for Grignard reagents and in lithium aluminum hydride reductions. It is also used in smaller labs as a solvent reagent.
Market Research and Market Trends of Nitrile Elastomers Market
- Due to the volatile nature of THF and its ready peroxide formation, which can lead to explosions, there have been a number of accidents involving THF. Added to this is the toxicity of it on inhalation. The government of Canada has also concluded recently that its use in paints and varnishes may be harmful to the users and hence map pass regulation against it. These factors are sure to effect the market negatively.
- Tetrahydrofuran has two primary applications, its use in the manufacture of PTMEG and its use as a polar solvent. Companies like Zeon and Sigma Aldrich have begum promoting substitutes for THF, as greener and safer alternatives for use in the Pharmaceutical Industry and for its application as a solvent. The competing chemicals are 2-Methytetrehydrofuran (2-MeTHf) and Cyclo pentyl methyl ether (CPME). They boast of better chemical properties and lesser impurities than THF which can be essential in cost optimization. The growth of the market for CPME and 2-MeTHF will be a potential restraint in the market share of THF. Further, the research on similar chemicals by other competitors could also eat away at THF’s market share thus reducing its market size substantially.
- The positive for the THF market is its use in the manufacture of PTMEG, which is used in the production of polyurethane elastomers and spandex and many more products. With the market for polyurethanes rising in various industrial sectors the demand for THF is likely to be stable or grow a little as long as the offset from the solvent industry is not major.
Who are the Major Players Tetrahydrofuran Market?
Key players in this market include: Ashland Inc., BASF, Dairen Chemicals, Mitsubishi Chemicals, Sigma Aldrich, CCP Group, TCI Chemicals, LOBA Chemie, Honeywell, Avantor and many more
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