Polytetrahydrofuran Market Analysis
Polytetrahydrofuran is a chemical compound formed by acid-catalyzed polymerization of tetrahydrofuran. It is also called as polytetramethylene oxide and glycol (polytetramethylene ether). Polytetrahydrofuran is commercially available as low average molecular weighted polymer under the trade names Terathane (the Invista Product) and PolyTHF (the BASF product). Polytetrahydrofuran is mainly used in the manufacturing of elastic fiber such as spandex and artificial leather. Polytetrahydrofuran is used in the initial process for the manufacturing of thermoplastic polyesters, thermoplastic polyurethane, cast polyurethane elastomers, and polyetherimide that are used in making wheels of skateboard and roller skates. The main properties of polytetrahydrofuran are its insolubility in water, high flexibility at low temperature, hydrolytic, and non-allergic properties. Polytetrahydrofuran can melt at room temperature and forms colorless, clear, and viscous liquid.
COVID-19 Scenario Analysis:
The outbreak of the COVID-19 pandemic has severely affected the polytetrahydrofuran market.
- The main of application of polytetrahydrofuran is to make an elastic fiber like spandex in textile sector, which is a highly unorganized sector. The governments have initiated special measures to help ameliorate the conditions in the textile sector due to the pandemic and to boost production, marketing, and job opportunities in the sector. With the increase in the production of masks, PPE kits, there was a positive impact on poly-tetrahydrofuran market, and due to this factor the growth of polytetrahydrofuran was not much affected.
- As a result of the global economic slowdown caused by the pandemic, the production of medical, textile and hygiene products was increased. This has caused a steep rise in the demand for polytetrahydrofuran.
- Supply chain also got adversely affected due to COVID-19. All manufacturing industries, as well as the end-user industries consume polytetrahydrofuran, but due to the pandemic, some of their production got stopped, hence, there was some decline in the demand for polytetrahydrofuran in some industries. .
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for the growth of the polytetrahydrofuran market is the high pace in fashion industry, as; artificial leather is mostly made by polytetrahydrofuran. Moreover, urbanization is also a major factor, since polytetrahydrofuran is needed for the production of paints, adhesives, sealants and coatings, which are usually used to increase the beauty of residential complexes. In addition, textile industry is the major buyer of polytetrahydrofuran and the interest of people in sportswear makes the market expand. However, the volatile prices of the raw materials and increase in government regulations have limited the market growth. In terms of market share, the Asia-Pacific region accounts for the major fraction of the polytetrahydrofuran market due to high demand from textile industries and surge in industrialization. The market in North America is also expected to grow at a significant pace due to the presence of a massive textile industry, rise in urbanization, and growth of the economies of the region.
Key Benefits of the Report:
- This study presents the analytical depiction of the global polytetrahydrofuran market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with the detailed analysis of the global polytetrahydrofuran market share.
- The current market is quantitatively analysed to highlight the global polytetrahydrofuran market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed global polytetrahydrofuran market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Polytetrahydrofuran Market Research Report:
- What are the leading market players active in the polytetrahydrofuran market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Polytetrahydrofuran Market Report Highlights
By End Use Industry
Key Market Players
Dairen Chemical Corporation (DCC), BASF, Sinopec Yizheng, Ashland Inc., Sichuan Lutianhua, Hyosung Chemical Fiber, Shanxi Shanhua., Shanxi Sanwei Group Co., Ltd., Mitsubishi Chemicals, Sanlong New Materials, Korea PTG, Ltd., INVISTA, Jianfeng Chemical, Formosa Asahi Spandex