Global 2-Methyl Tetrahydrofuran Market to Surpass USD 926.4 Mn By 2031| Growth Market Reports

PUNE, India, June 26, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global 2-Methyl Tetrahydrofuran Market Segments - by Purity (Less Than 99% and 99% & Above), By Application (Extraction of Carotenoids, Extraction of Aromas/Synthesis of Spices, Automotive Fuel Additive, Organometallic Reagents, and Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 489.4 Mn in 2022 and is expected to surpass USD 926.4 Mn expanding at a CAGR of 3.9% by the end of 2031. Rising usage of 2-Methyl Tetrahydrofuran in the textile and pharmaceutical industry is expected to fuel the market.

Key Market Players Profiled in the Report

• Sisco Research Laboratories Pvt. Ltd.
• Pennakem, LLC
• Hongye Holding Group Corporation Limited
• Manas Petro Chem
• Monument Chemical
• Tokyo Chemical Industry Co., Ltd. (TCI)
• Oakwood Products, Inc.
• Central Drug House
• Honeywell International Inc.
• Polysciences Inc
• Thermo Scientific Chemicals

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include purity, application, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Regional Highlights:

On the basis of region, the global 2-methyl tetrahydrofuran market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to dominate the global market, due to the rising demand for spices and individually the region has the largest exporter of spices.

Europe is expected to be a rapidly growing region in the global market during the projected period, owing to the wide presence of the well-established cosmetics industry and animal feed sector.

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Key Takeaways from the Study:

• 2-Methyltetrahydrofuran (2-MeTHF) is a biodegradable and renewable solvent and its reactant is obtained from biomass by hydrogenation of products, derived from carbohydrate fractions of hemicellulose from various feedstocks.
• It is commonly used in different types of chemical processes, including batch manufacturing of fine chemicals, ring-opening polymerization, and enzymatic polycondensation.
• Rising demand from the pharmaceutical industry for organometallic catalyzed and biphasic reactions is anticipated to boost the market during the forecast period.
• Increasing adoption in various applications due to its low miscibility with water, significant stability, and boiling point is likely to fuel the market.
• Increasing environmental concerns is likely to create lucrative opportunities for market players.
• The less than 99% segment is projected to expand at the fastest CAGR during the forecast period, owing to the rising demand in the food and pharmaceutical industry, as it is used as a solvent for the extraction of carotenoids and aromas.
• The extraction of carotenoids segment is anticipated to hold a major share of the market, as carotenoids play a crucial role in maintaining a healthy diet.

Read 215 Pages Research Report with Detailed TOC on "Global 2-Methyl Tetrahydrofuran Market by Purity (Less Than 99% and 99% & Above), By Application (Extraction of Carotenoids, Extraction of Aromas/Synthesis of Spices, Automotive Fuel Additive, Organometallic Reagents, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Purity

• Less Than 99%
• 99% & Above

Application

• Organometallic Reagents
• Extraction of Carotenoids
• Extraction of Aromas/synthesis of spices
• Automotive Fuel Additive
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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