Tetrahydrofurfuryl Alcohol Market Synopsis:
Tetrahydrofurfuryl Alcohol Market Size Was Valued at USD 184.43 Million in 2023, and is Projected to Reach USD 351.24 Million by 2032, Growing at a CAGR of 7.42% from 2024-2032.
Tetrahydrofurfuryl Alcohol (THFA) is a new type of organic solvent and chemical reagent in the large category of alcohol . It is obtained from furfural and has properties that can be harnessed to fit different industries including the manufacturing of agrochemicals, downstream personal care, and pharmaceutical industries. Due to the characteristics of THFA such as high solubility and low volatility of the product, it has found widespread application in almost all industries specific to the regions where there is a strong chemical industry.
The demand for Tetrahydrofurfuryl Alcohol as green solvent and eco-friendly solvent is among the main factors fostering the market growth. The global trend of industries trying to make their operations greener through decreased carbon footprint and increased use of environmentally-friendly chemicals makes THFA bio-based an attractive solution for petroleum-based solvents. It could be used in car engines as well as closed-system applications because of its biodegradability and low toxicity; these are other components enhancing the demand for the, in various green chemistry uses.
Furthermore, a rising demand for prescription drugs or pharma industries along with an increase in segments such as personal care products is also fueling the growth of the THFA market. They employ the compound in the preparation of Center for European Review and Development of Pharmaceutical and Cosmetic products. As, the consumer consciousness for natural and organic personal care products rise in demand, the global THFA market is expected to grow particularly in the developed regions.
Tetrahydrofurfuryl Alcohol Market Trend Analysis
Embracing of bio-based chemicals and renewable feedstock
- The latest trend visible in the Tetrahydrofurfuryl Alcohol market is the embracing of bio-based chemicals and renewable feedstock. THFA, which is synthesized from renewable agricultural feed stock materials such as corn and sugarcane stearin, is gradually finding its way into the market as industries scramble for environment friendly materials. This trend is consistent with the current global drive towards sustainability and doing away with the use of fossil fuel.
- In addition, with increasing amount of research and development efforts on THFA and its uses, there is potential for innovation on the ways that it is utilized to enhance the efficiency of the system as well. Newer techniques are under research for synthesizing THFA which could be economically cheaper and effective in opened up more opportunities for THFA applications in various industries.
Demand for specific products rises
- A new growth strategy in the Tetrahydrofurfuryl Alcohol market can be found in the usage of the compound as a raw material for bio-plastics. As the demand for specific products rises, THFA can be used in the manufacturing of the bio-degradable polymers. It may expand new opportunities in the packaging and automotive segments, which are expected to observe the trends of shifting to eco-friendly products.
- Further, with the rise in demand for agro chemicals, THFA can be used as a building block for preparing herbicides and pesticide. THFA used in the agricultural sector will see increased demand as the agricultural sector grows, particularly in the lucrative emerging economy markets; growth fueled by the need for better, more environmentally friendly chemicals.
Tetrahydrofurfuryl Alcohol Market Segment Analysis:
Tetrahydrofurfuryl Alcohol Market Segmented on the basis of By Form, By Application and By End-User Industry.
By Form, Solid segment is expected to dominate the market during the forecast period
- Tetrahydrofurfuryl Alcohol is available in two primary forms: solid and liquid. The THFA exists mainly in the solid phase and usually has crystalline characteristics and it may be appropriate for some purposes where precise measurements or slow release are required. In contrast, the liquid phase of THFA is employed in different industries because of solvents that include ease to deal with as well as ability to mix with other chemicals. Both forms have their own advantages regarding their usage, which depend on the specific application; thus, liquid THFA has found wide application in commercial-scale and industrial uses because its usage integrates more easily in the manufacturing processes.
By Application, Solvents segment expected to held the largest share
- Due to its versatile uses, the Tetrahydrofurfuryl Alcohol market is used widely in solvents, chemical intermediate, pharmaceuticals, agro chemical, and personal care sectors. THFA is used as a solvent when used in paints thinners, coatings, and adhesives; because it is an excellent solvent and low acute toxicity. It plays a role as an intermediate product for the synthesis of all kinds of chemicals and polymers in the chemical industry. As a solvent and intermediate: it is incorporated into the preparation of oral and topical formulations in the production of pharmaceutical products. The compound also finds application in agrochemicals especially in herbicides and pesticides. THFA is used for its solvent properties and as a stabilizer in cosmetics, in creams, lotions, perfumes, and the like.
Tetrahydrofurfuryl Alcohol Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
- The Asia Pacific region is ruling the Tetrahydrofurfuryl Alcohol market in the current period owing to its robust industrial and manufacturing sectors. Chemical industries are very advanced in countries such as China and India and due to these applications THFA finds itself in various categories such as Agrochemicals, Pharmaceutical, and others. Asia pacific’s increased awareness of sustainable chemical use and a host of other entities such as the chemical and pharmaceutical industries are significant factors contributing to Asia pacific’s large market share in THFA.
- Besides, the increase in demand for bio-based solvents and green chemistry across this region creates further opportunities for the THFA market. Considering the fact that large-scale production facilities and consideration of sustainability increases in Asia Pacific area should be expected to remain a strong supply and demand driver in the market.
Active Key Players in the Tetrahydrofurfuryl Alcohol Market
- Arkema Group (France)
- Eastman Chemical Company (USA)
- Furukawa Electric Co. Ltd. (Japan)
- Hunan Yefeng Chemical Co., Ltd. (China)
- Huntsman Corporation (USA)
- Jiangsu Shunlong Environmental Protection Technology Co. Ltd. (China)
- LANXESS (Germany)
- Olin Corporation (USA)
- Solvay (Belgium)
- U.S. Chemical & Plastics (USA)
- Other key Players
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Tetrahydrofurfuryl Alcohol Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 184.43 Million |
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Forecast Period 2024-32 CAGR: |
7.42% |
Market Size in 2032: |
USD 351.24 Million |
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Segments Covered: |
By Form |
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By Application |
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By End-User Industry |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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 1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis
Chapter 4: Tetrahydrofurfuryl Alcohol Market by By Form (2018-2032)
 4.1 Tetrahydrofurfuryl Alcohol Market Snapshot and Growth Engine
 4.2 Market Overview
 4.3 Solid
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.3.3 Key Market Trends, Growth Factors, and Opportunities
  4.3.4 Geographic Segmentation Analysis
 4.4 Liquid
Chapter 5: Tetrahydrofurfuryl Alcohol Market by By Application (2018-2032)
 5.1 Tetrahydrofurfuryl Alcohol Market Snapshot and Growth Engine
 5.2 Market Overview
 5.3 Solvents
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.3.3 Key Market Trends, Growth Factors, and Opportunities
  5.3.4 Geographic Segmentation Analysis
 5.4 Chemical Intermediates
 5.5 Pharmaceuticals
 5.6 Agrochemicals
 5.7 Personal Care Products
Chapter 6: Tetrahydrofurfuryl Alcohol Market by By End-User Industry (2018-2032)
 6.1 Tetrahydrofurfuryl Alcohol Market Snapshot and Growth Engine
 6.2 Market Overview
 6.3 Chemical Industry
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.3.3 Key Market Trends, Growth Factors, and Opportunities
  6.3.4 Geographic Segmentation Analysis
 6.4 Pharmaceutical Industry
 6.5 Agriculture Industry
 6.6 Personal Care and Cosmetics Industry
 6.7 Automotive Industry
Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Tetrahydrofurfuryl Alcohol Market Share by Manufacturer (2024)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions  
 7.2 FURUKAWA ELECTRIC CO. LTD. (JAPAN)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 HUNAN YEFENG CHEMICAL CO. LTD. (CHINA)
 7.4 EASTMAN CHEMICAL COMPANY (USA)
 7.5 LANXESS (GERMANY)
 7.6 SOLVAY (BELGIUM)
 7.7 U.S. CHEMICAL & PLASTICS (USA)
 7.8 OLIN CORPORATION (USA)
 7.9 ARKEMA GROUP (FRANCE)
 7.10 HUNTSMAN CORPORATION (USA)
 7.11 JIANGSU SHUNLONG ENVIRONMENTAL PROTECTION TECHNOLOGY CO. LTD. (CHINA)
 7.12 OTHER ACTIVE PLAYERS
Chapter 8: Global Tetrahydrofurfuryl Alcohol Market By Region
 8.1 Overview
 8.2. North America Tetrahydrofurfuryl Alcohol Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By By Form
  8.2.4.1 Solid
  8.2.4.2 Liquid
  8.2.5 Historic and Forecasted Market Size By By Application
  8.2.5.1 Solvents
  8.2.5.2 Chemical Intermediates
  8.2.5.3 Pharmaceuticals
  8.2.5.4 Agrochemicals
  8.2.5.5 Personal Care Products
  8.2.6 Historic and Forecasted Market Size By By End-User Industry
  8.2.6.1 Chemical Industry
  8.2.6.2 Pharmaceutical Industry
  8.2.6.3 Agriculture Industry
  8.2.6.4 Personal Care and Cosmetics Industry
  8.2.6.5 Automotive Industry
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Tetrahydrofurfuryl Alcohol Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By By Form
  8.3.4.1 Solid
  8.3.4.2 Liquid
  8.3.5 Historic and Forecasted Market Size By By Application
  8.3.5.1 Solvents
  8.3.5.2 Chemical Intermediates
  8.3.5.3 Pharmaceuticals
  8.3.5.4 Agrochemicals
  8.3.5.5 Personal Care Products
  8.3.6 Historic and Forecasted Market Size By By End-User Industry
  8.3.6.1 Chemical Industry
  8.3.6.2 Pharmaceutical Industry
  8.3.6.3 Agriculture Industry
  8.3.6.4 Personal Care and Cosmetics Industry
  8.3.6.5 Automotive Industry
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Russia
  8.3.7.2 Bulgaria
  8.3.7.3 The Czech Republic
  8.3.7.4 Hungary
  8.3.7.5 Poland
  8.3.7.6 Romania
  8.3.7.7 Rest of Eastern Europe
 8.4. Western Europe Tetrahydrofurfuryl Alcohol Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By By Form
  8.4.4.1 Solid
  8.4.4.2 Liquid
  8.4.5 Historic and Forecasted Market Size By By Application
  8.4.5.1 Solvents
  8.4.5.2 Chemical Intermediates
  8.4.5.3 Pharmaceuticals
  8.4.5.4 Agrochemicals
  8.4.5.5 Personal Care Products
  8.4.6 Historic and Forecasted Market Size By By End-User Industry
  8.4.6.1 Chemical Industry
  8.4.6.2 Pharmaceutical Industry
  8.4.6.3 Agriculture Industry
  8.4.6.4 Personal Care and Cosmetics Industry
  8.4.6.5 Automotive Industry
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 The Netherlands
  8.4.7.5 Italy
  8.4.7.6 Spain
  8.4.7.7 Rest of Western Europe
 8.5. Asia Pacific Tetrahydrofurfuryl Alcohol Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By By Form
  8.5.4.1 Solid
  8.5.4.2 Liquid
  8.5.5 Historic and Forecasted Market Size By By Application
  8.5.5.1 Solvents
  8.5.5.2 Chemical Intermediates
  8.5.5.3 Pharmaceuticals
  8.5.5.4 Agrochemicals
  8.5.5.5 Personal Care Products
  8.5.6 Historic and Forecasted Market Size By By End-User Industry
  8.5.6.1 Chemical Industry
  8.5.6.2 Pharmaceutical Industry
  8.5.6.3 Agriculture Industry
  8.5.6.4 Personal Care and Cosmetics Industry
  8.5.6.5 Automotive Industry
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Tetrahydrofurfuryl Alcohol Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By By Form
  8.6.4.1 Solid
  8.6.4.2 Liquid
  8.6.5 Historic and Forecasted Market Size By By Application
  8.6.5.1 Solvents
  8.6.5.2 Chemical Intermediates
  8.6.5.3 Pharmaceuticals
  8.6.5.4 Agrochemicals
  8.6.5.5 Personal Care Products
  8.6.6 Historic and Forecasted Market Size By By End-User Industry
  8.6.6.1 Chemical Industry
  8.6.6.2 Pharmaceutical Industry
  8.6.6.3 Agriculture Industry
  8.6.6.4 Personal Care and Cosmetics Industry
  8.6.6.5 Automotive Industry
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkiye
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Tetrahydrofurfuryl Alcohol Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By By Form
  8.7.4.1 Solid
  8.7.4.2 Liquid
  8.7.5 Historic and Forecasted Market Size By By Application
  8.7.5.1 Solvents
  8.7.5.2 Chemical Intermediates
  8.7.5.3 Pharmaceuticals
  8.7.5.4 Agrochemicals
  8.7.5.5 Personal Care Products
  8.7.6 Historic and Forecasted Market Size By By End-User Industry
  8.7.6.1 Chemical Industry
  8.7.6.2 Pharmaceutical Industry
  8.7.6.3 Agriculture Industry
  8.7.6.4 Personal Care and Cosmetics Industry
  8.7.6.5 Automotive Industry
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Tetrahydrofurfuryl Alcohol Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 184.43 Million |
|
Forecast Period 2024-32 CAGR: |
7.42% |
Market Size in 2032: |
USD 351.24 Million |
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Segments Covered: |
By Form |
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By Application |
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By End-User Industry |
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|
By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Tetrahydrofurfuryl Alcohol Market research report is 2024-2032.
Arkema Group (France), Eastman Chemical Company (USA),Furukawa Electric Co. Ltd. (Japan),Hunan Yefeng Chemical Co., Ltd. (China),Huntsman Corporation (USA),Jiangsu Shunlong Environmental Protection Technology Co. Ltd. (China),LANXESS (Germany),Olin Corporation (USA),Solvay (Belgium),U.S. Chemical & Plastics (USA), and Other Active Players.
The Tetrahydrofurfuryl Alcohol Market is segmented into Form, Application, End-User Industry and Region. By Form, the market is categorized into Solid, Liquid. By Application, the market is categorized into Solvents, Chemical Intermediates, Pharmaceuticals, Agrochemicals, Personal Care Products. By End-User Industry, the market is categorized into Chemical Industry, Pharmaceutical Industry, Agriculture Industry, Personal Care and Cosmetics Industry, Automotive Industry. By Region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Tetrahydrofurfuryl Alcohol (THFA) is a new type of organic solvent and chemical reagent in the large category of alcohol . It is obtained from furfural and has properties that can be harnessed to fit different industries including the manufacturing of agrochemicals, downstream personal care, and pharmaceutical industries. Due to the characteristics of THFA such as high solubility and low volatility of the product, it has found widespread application in almost all industries specific to the regions where there is a strong chemical industry.
Tetrahydrofurfuryl Alcohol Market Size Was Valued at USD 184.43 Million in 2023, and is Projected to Reach USD 351.24 Million by 2032, Growing at a CAGR of 7.42% from 2024-2032.
