Tetrahydrofuran Prices

Tetrahydrofuran Prices June 2024

The tetrahydrofuran (THF) prices in the United States for Q2 2024 reached 2,460 USD/MT in June. The country observed a significant price increase from Q2 2023 as well as from the previous quarter. This was mainly influenced by the seasonal demand from the textile industry, particularly spandex manufacturers, who faced a higher demand for eco-friendly textiles despite an off-season period. 

The price trend for THF in Japan for Q2 2024 was 1,750 USD/MT in June. The market experienced the most significant price changes within the country. Prices decreased to the previous quarter, reflecting market adjustments. However, the second half of the quarter saw a minor recovery, with a notable increase in prices.   

Germany’s THF prices for Q2 2024 reached 2,660 USD/MT in June. The country faced the most significant price changes. Regardless of off-season trends in the spandex sector, the pricing environment remained firmly on an upward trajectory. The price comparison between the first and second halves of the quarter indicated a modest rise.               

Tetrahydrofuran Prices December 2023

The tetrahydrofuran prices in the United States for Q4 2023 reached 2080 USD/MT in December. The prices saw a downturn primarily due to sluggish demand from sectors including spandex and PTMEG, and reduced production rates. Despite steady economic activity, the private sector witnessed a downfall in employment, reflecting a significant slowdown. Moreover, shipping routes were modified as container ships opted for West Coast instead of Panama Canal.

The price trend for tetrahydrofuran in South Korea for Q4 2023, reached 1874 USD/MT in December. Declined production rates and average supply led to a negative trend. Furthermore, market witnessed a low purchase sentiment as demand from downstream sectors weakened, and stockpile elevated. Additionally, buyers anticipated a surge in supply pertaining to logistics constraints.

The price trend for tetrahydrofuran in Germany for Q4 2023, reached 2154 USD/MT in December. The market witnessed a stable trend amidst moderate demand from sectors such as spandex and PTMEG. Moreover, the price trend was steered by disruptions in upstream material supply majorly due to geopolitical conflicts, influencing naptha and crude oil prices. Additionally, steady inventories maintained price stability and kept market activity sluggish.

Regional Coverage

The report provides a detailed analysis of the tetrahydrofuran market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the tetrahydrofuran price trend.

Global Tetrahydrofuran Price

The report offers a holistic view of the global tetrahydrofuran pricing trends in the form of tetrahydrofuran price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into tetrahydrofuran historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into tetrahydrofuran price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed tetrahydrofuran demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Tetrahydrofuran Price

Q2 2024:      

In Europe, the THF market saw substantial price increases in Q2 2024, influenced by various key factors. Increased demand from major downstream sectors like the spandex sector played a crucial role, despite moderate overall demand in the region. The price hikes were further amplified by rising production costs, largely on account of geopolitical tensions and higher feedstock prices, particularly for butanediol and naphtha. In addition, logistical challenges including higher shipping charges as well as container shortages strained the supply chain, contributing to the upward pricing pressure. Domestic production was sluggish, with manufacturers struggling to secure new inquiries, which added to the price escalation.

Q4 2023:

In Q4 2023, a stable price trend was witnessed in Europe. Mild demand from spandex and PTMEG sectors continued, while the furnishing and construction sectors experienced a significant drop in associated products such as adhesives and coatings. The demand-supply balance was disturbed by fluctuations in naptha inventory from exporting countries, creating imbalances in market dynamics. Geopolitical conflicts, such as Israel-Palestine war and Red Sea ships attack, enhanced pressure by influencing supplies of naptha and upstream crude oil. Even though stock was ample, these factors constrained the market, leading to a sluggish demand and prompting manufacturers to manage price stability amid strained product availability.

This analysis can be extended to include detailed tetrahydrofuran price information for a comprehensive list of countries.

North America Tetrahydrofuran Price

Q2 2024: 

North America’s THF market experienced a sharp rise in prices during Q2 2024 because of disturbances in supply chain, higher shipping costs, and robust demand from major downstream sectors. The Panama Canal congestion was worsened due to drought conditions and extended trade times, thereby creating a significant supply-demand gap. Additionally, the tightening of butanediol supplies elevated feedstock costs, further pushing THF prices upward. In the United States, the market saw a notable price increase than the previous quarter. This price surge was influenced by the seasonal demand from the textile industry.

Q4 2023:

During Q4 2023, tetrahydrofuran market in North America witnessed a downturn, primarily driven by lowered demand and difficulties in production capacities. Although stable economic activity was observed in the US, a downturn in private sector employment reflected an economic contraction. With steady stocks of crude oil, the market experienced an average demand from major industries like spandex and PTMEG. The tetrahydrofuran prices further dropped, affected by sluggish demand and reduced production rates. Moreover, shipping logistics altered as container ships chose West Coast to bypass both fees and delays at the Panama Canal, leveraging rail transport to access domestic markets. Additionally, no plant shutdowns were witnessed in the last quarter.

Specific tetrahydrofuran historical data within the United States and Canada can also be provided.

Middle East and Africa Tetrahydrofuran Price

The report explores the tetrahydrofuran pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on tetrahydrofuran prices for countries can also be provided.

Aisa Pacific Tetrahydrofuran Price

Q2 2024:

Throughout the second quarter of 2024, the THF market in the Asia Pacific region showed a constant pricing trend, with mild increases due to fluctuating demand-supply dynamics as well as various cost dynamics. Production costs were higher on account of rising prices of crude oil, container shortages, and logistical challenges like increased shipping costs. These pressures were compounded by the off-season demand from the spandex sector, where high inventory levels affected THF consumption. Despite these factors, the overall market sentiment remained moderately positive, with manufacturers cautiously navigating the situation. 

Q4 2023:

In Asia Pacific, marked witnessed constant levels of production, but supply encountered difficulties in meeting demand, resulting in a negative price trend. This quarter experienced a declined output and low demand from sectors such as solvents, PTMEG, and spandex. South Korea, in particular, bearish trend was noted, represented by average supply and lowered production rates, while saturation at the Panama Canal and elevated activities of toluene disproportionation pointed to a possible surplus in supply. Resultantly, both international and domestic buyers were reluctant to adopt current prices, and downstream consumers were prudent in placing orders because of increasing stockpile. 

This tetrahydrofuran price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Tetrahydrofuran Price

The analysis of tetrahydrofuran prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Tetrahydrofuran Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Tetrahydrofuran Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of tetrahydrofuran pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of tetrahydrofuran at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of tetrahydrofuran price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing tetrahydrofuran price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Tetrahydrofuran Market Analysis

The global tetrahydrofuran market size reached US$ 4.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 8.4 Billion, at a projected CAGR of 7.20 % during 2023-2032.

• Tetrahydrofuran is used as an acid catalyst to produce polytetramethylene ether glycol (PTMEG). PTMEG is used in various applications, including polyurethane resins, prepolymers, coatings, adhesives, cast polyurethane resins, and spandex fibers. Based on data provided by Businesswire, more than 65% of tetrahydrofuran is used in the manufacturing of PTMEG, especially in the production of spandex and other polyurethanes.
• According to S&P Global, Northeast Asia accounted for more than 80% of world tetrahydrofuran consumption in 2022. Southeast Asia closely follows the United States and Western Europe as the second-largest market for THF. The largest market for THF is China, which will drive the market during the projection period and account for more than two-thirds of worldwide consumption in 2022.
• S&P Global claims that approximately 80% of women experience hormone imbalances attributed to low levels of estrogen, progesterone, testosterone, and thyroid hormones. These imbalances often lead to various physical and mental health issues. Hormone fluctuations are a result of natural changes like puberty, perimenopause, and menopause, but unhealthful lifestyle choices and external circumstances can also exacerbate them. These abnormalities might hasten the aging process and hormone decrease, affecting anything from the start of early puberty to general health decline. The growing instances of hormonal imbalance among the female population due to lifestyle habits, environmental conditions, and endocrine gland malfunctions are driving the demand for pharmaceuticals. This is catalyzing the demand for tetrahydrofuran around the world.
• Tetrahydrofuran serves as a versatile solvent with several key applications, including the production of polyvinyl chloride (PVC), which is a common material used in indoor plumbing. Additionally, tetrahydrofuran is utilized in dissolving PVC, making it a primary component in PVC adhesives. Moreover, tetrahydrofuran is used in the PVC film casting and reactor cleaning procedures, which emphasizes its significance in a variety of PVC production and processing-related industrial applications.

Tetrahydrofuran News

The report covers the latest developments, updates, and trends impacting the global tetrahydrofuran market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in tetrahydrofuran production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the tetrahydrofuran price trend.

Latest developments in the tetrahydrofuran industry:

• In October 2023: BASF supplied biomass balanced tetrahydrofuran (THF BMB) to Asahi Kasei for sustainable stretch fiber production, reducing carbon dioxide emissions by 50%. Tetrahydrofuran, utilized in this collaboration, is crucial for PolyTHF® production, facilitating elastic fiber manufacturing and serving as an organic solvent in various syntheses.

Product Description

Tetrahydrofuran is a colorless and transparent organic liquid that is classified as a heterocyclic ether. It is mostly produced by reducing furan with hydrogen gas in the presence of a catalyst, such as nickel or palladium. This helps in the creation of high-quality tetrahydrofuran, which is utilized in a wide range of industrial applications. It is a useful solvent and reaction medium in organic synthesis and polymer chemistry due to its low viscosity, high boiling point, and solvency qualities.

Tetrahydrofuran is an intermediate in the production of tetramethylene ether glycol (PTMEG), an essential ingredient in the creation of polyurethane elastomers and elastane fibers.

It is also utilized in the synthesis of pharmaceuticals and agrochemicals and as a reaction solvent in organic chemistry laboratories. Furthermore, tetrahydrofuran is a crucial component in lithium-ion (Li-on) battery electrolytes, enhancing the performance and stability of the battery.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of tetrahydrofuran pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting tetrahydrofuran price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The tetrahydrofuran price charts ensure our clients remain at the forefront of the industry.