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The THF market Is Projected to Grow From USD 2.95 Billion In 2017 to USD 4.12 Billion By 2022, at a CAGR of 6.9% from 2017 to 2022.
The increasing demand for spandex fibers and polyurethane across the globe is driving the growth of the THF market.
The butadiene process segment of the THF market is projected to grow at the highest CAGR, in terms of volume between 2017 and 2022. The growth of this segment of the market can be attributed to
the low cost of raw materials and easy availability of
butadiene. In addition, the Reppe process is the most widely used technology for manufacturing tetrahydrofuran, owing to its low cost and less number of steps involved in it. The efficiency of the Reppe process technology in manufacturing 1,4-Butanediol (BDO) is high.
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