The THF (tetrahydrofuran) and GBL (gamma butyrolactone) market employ diverse production processes, including acetylene-based, butadiene-based, maleic anhydride-based, and propylene oxide-based methods. These processes contribute to the synthesis of THF and GBL. THF, widely used in manufacturing POLY THF, finds applications in various industries. Simultaneously, GBL, a versatile compound, serves in numerous applications. The market's dynamic landscape is driven by innovative production techniques and the expanding utility of THF and GBL in diverse sectors, showcasing sustained growth and evolution.
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Data Bridge Market Research analyses that the India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market, which was USD 553.76 million in 2022, is expected to reach USD 1,017.41 million by 2030, growing at a CAGR of 7.90% during the forecast period of 2023 to 2030. The THF (tetrahydrofuran) and GBL (gamma butyrolactone) market are propelled by the surging demand in chemical manufacturing. Their versatile applications in polymer, resin, and pharmaceutical production underscore their significance, driving continuous growth as essential components in various chemical processes across industries.
Key Findings of the Study
Polymer Industry is expected to drive the market's growth rate
The THF (tetrahydrofuran) and GBL (gamma butyrolactone) market thrive due to their pivotal role in the polymer industry. As indispensable solvents and polymerization agents, their increased demand stems from the production of high-performance materials. The versatility of THF and GBL in enhancing polymer properties contributes to their essentiality, making them key drivers in meeting the escalating demand for advanced materials in industries ranging from packaging to automotive and beyond.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Purity (Industrial Class (5 wt. %), Common Class (8 wt. %), and Electric Capacitance Class (9 wt. %)), Process (Acetylene-Based Process, Butadiene-Based Process, Maleic Anhydride-Based Process, and Propylene Oxide-Based Process), Application (THF (Tetrahydrofuran), POLY THF, and GBL (Gamma Butyrolactone)
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Market Players Covered
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BASF SE (Germany), Invista (U.S.), Ashland Inc. (U.S.), Dairen Chemical Corporation (Taiwan), Mitsubishi Chemical Corporation (Japan), LyondellBasell Industries Holdings B.V. (U.S.), Ashland Inc. (U.S.), Shandong Jinling Chemical Co., Ltd. (China), and Recochem Inc. (Canada) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market is segmented on the basis of purity, process, and application.
- On the basis of purity, the India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market is segmented into industrial class (5 wt. %), common class (8 wt. %), and electric capacitance class (9 wt. %)
- On the basis of process, the India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market is segmented into acetylene-based process, butadiene-based process, maleic anhydride-based process, and propylene oxide-based process
- On the basis of application, the India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market is segmented into THF (tetrahydrofuran), poly THF, and GBL gamma butyrolactone
Major Players
Data Bridge Market Research recognizes the following companies as the India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market players in India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market are BASF SE (Germany), Invista (U.S.), Ashland Inc. (U.S.), Dairen Chemical Corporation (Taiwan), Mitsubishi Chemical Corporation (Japan), LyondellBasell Industries Holdings B.V. (U.S.), Ashland Inc. (U.S.).
Market Development
- In December 2021, BASF SE announced a price increase for 1,4-Butanediol (BDO) and its derivatives, including Tetrahydrofuran (THF) and Gamma-butyrolactone (GBL). These chemicals play pivotal roles in the production of engineering plastics, polyurethane, pharmaceuticals, solvents, and elastic spandex fibers. The price adjustment reflects the growing demand and the essential nature of these materials in diverse industries, ensuring the sustainability and reliability of their production
For more detailed information about the India THF (tetrahydrofuran) and GBL (gamma butyrolactone) market report, click here – https://www.databridgemarketresearch.com/reports/india-thf-tetrahydrofuran-and-gbl-gamma-butyrolactone-market
