Published December 2022
Tetrahydrofuran (THF) is a cyclic ether with two primary industrial uses. The major use is as a monomer in the production of polytetramethylene ether glycol (PTMEG), a component of cast and thermoplastic urethane elastomers, polyurethane stretch fibers (spandex), and high-performance copolyester-polyether elastomers (COPE). A smaller amount of THF is used as a solvent in polyvinyl chloride (PVC) cements, pharmaceuticals, and coatings; precision magnetic tape manufacture; and as a reaction solvent.
The following pie chart shows world consumption of tetrahydrofuran (THF):
In 2022, Northeast Asia accounted for more than 80% of world THF consumption, including captive production for PTMEG, to supply the region’s rapidly growing spandex market. Southeast Asia is the second-largest market for THF, closely followed by the United States and Western Europe. Mainland China is the largest market for THF, accounting for more than two-thirds of global consumption in 2022, and will continue to drive the market through the forecast period. Nearly 90% of the worldwide THF demand is consumed for PTMEG production, to supply the rapidly growing spandex market in Asia, as well as the polyurethane elastomers market in the United States and Western Europe.
Major THF producers are both back- and forward-integrated into BDO and PTMEG manufacturing plants. Mainland China accounted for nearly 60% of the global capacity in 2022. Over the forecast period, mainland China will more than double THF capacity to support the growing consumption as well as the export of THF, to account for almost three-fourths of the global THF capacity in 2027.
Overall, global THF consumption is expected to grow at an average of 5–6% annually over the forecast period, primarily driven by mainland Chinese PTMEG production.
For more detailed information, see the table of contents, shown below.
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