Tetrahydrofuran Price Trend

Tetrahydrofuran Prices December 2023

The price of tetrahydrofuran in the United States for Q4 2023 reached 2080 USD/MT. Business activity remained stable, but the private sector saw a decline in employment, signaling a potential economic slowdown. Despite this, Strategic Petroleum Reserve crude oil inventories remained steady, although overall US inventories decreased. Tetrahydrofuran demand stayed moderate, especially from downstream sectors like PTMEG and spandex, with no plant shutdowns reported.

The price trend for tetrahydrofuran in South Korea was bearish, marked by moderate product supply and decreased production rates. Buyers were cautious due to negative buying indications, anticipating increased supply in Asia on account of congestion in the Panama Canal and increased run rates in toluene disproportionation (TDP) units.

In Q4 2023, the latest price for tetrahydrofuran in Hamburg stood at USD 2154/MT. The persistent Israel and Palestine conflict continued to influence upstream crude oil and naphtha prices, while restricted product availability at end-use manufacturing units shaped the tetrahydrofuran market dynamics.

Tetrahydrofuran Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Tetrahydrofuran Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” 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.

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 current price of tetrahydrofuran but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into 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

In Q4 2023, tetrahydrofuran prices in Europe held steady amid moderate demand from PTMEG and spandex sectors, while the construction segment saw reduced demand. Price stability was influenced by naphtha supply chains, despite ample inventories and higher imports. Attacks by the Yemeni Houthi group in the Red Sea prompted BP to halt transit temporarily, with other shipping companies following suit.

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

North America Tetrahydrofuran Price

In Q4 2023, the North American tetrahydrofuran market faced challenges, witnessing a price decline due to subdued demand and production capacity issues. Tetrahydrofuran demand from downstream sectors like PTMEG and spandex was moderate, with no reported plant shutdowns. Prices dropped throughout the quarter, attributed to weak demand and reduced production rates. The private sector in November experienced a decline in employment along with the anticipated signs of an economic shutdown in the fourth 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

In Q4 2023, the Asia Pacific tetrahydrofuran market faced challenges due to factors affecting market dynamics and pricing trends. There was a moderate supply but insufficient to meet demand, leading to a decline in prices amid bearish market sentiment. Production rates remained stable, but the quarter ended with reduced production and subdued demand from sectors like PTMEG and spandex.

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.

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.