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India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market – Industry Trends and Forecast to 2030

Chemical and Materials

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India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jul 2023
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 553.76 USD Million
Diagram Market Size (Forecast Year) USD 1,017.41 USD Million
Diagram CAGR %

Major Markets Players

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India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market, By 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) - Industry Trends and Forecast to 2023 to 2030.

India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Analysis and Size

The essential factors contributing to the market's growth in the forecast period of 2023 to 2030 include the increasing use of THF and GBL in the pharmaceutical industry and the processing of various chemicals. Moreover, India's economic growth, industrialization, and urbanization have increased the demand for THF and GBL.

Data Bridge Market Research analyses that the 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. “Acetylene-Based Process” segment is expected to dominate the purity segment of the market because acetylene-based processes generally result in high-purity THF and GBL production. When used as a feedstock, acetylene can yield products with low impurity levels, meeting the stringent quality requirements of various industries.

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.

India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Year

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By 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)

Countries Covered

India

Market Players Covered

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

Market Opportunities

  • Increasing use in the pharmaceutical industry
  • Important intermediate in the chemical manufacturing sector
  • Strong growth agriculture sector in India

Market Definition

THF and GBL are colorless chemical compounds miscible in water and act as a solvent in producing various products. GBL chemical is used in the pharmaceutical industry in the manufacturing of medicines. THF, a solvent used in synthetic and natural resins, also acts as a solvent in spandex fibers, PVC, etc. Increasing demand for chemicals in the production processes enhances the use of THF and GBL in the market. It increases the efficiency in producing various products to meet its increasing demand.

India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Dynamics

Drivers

  • Increasing use in the pharmaceutical industry

THF and GBL are widely used as solvents in the pharmaceutical industry. They are essential for various drug formulation processes such as synthesis, extraction, and purification. The growth of the pharmaceutical industry, driven by increasing demand for medications and advancements in drug development, contributes to the need for THF and GBL.

  • Important intermediate in the chemical manufacturing sector

THF and GBL are essential intermediates in the production of various chemicals. They are used to manufacture polymers, resins, coatings, and adhesives. The growth of industries such as automotive, construction, electronics, and textiles, which rely on these chemicals, fuels the demand for THF and GBL.

  • Strong growth agriculture sector in India

THF and GBL find applications in producing agrochemical such as herbicides, insecticides, and fungicides. As agricultural practices evolve and the demand for high-quality crops increases, the agrochemical sector expands, leading to higher consumption of THF and GBL.

Opportunities

  • Increasing focus on research and development

Continuous research and development activities to explore new applications and improve the properties of THF and GBL contribute to market growth. Innovations in product formulations, such as low-toxicity variants and environmentally friendly options, can further drive demand.

  • Regional Growth and Industrialization

Economic growth, industrialization, and urbanization in India have increased the demand for THF and GBL. These countries are witnessing expansion in multiple industries, including pharmaceuticals, chemicals, and automotive, thereby driving the market for THF and GBL.

 Restraints/Challenges

  • Health and Safety Concerns

THF and GBL are organic solvents that can pose health and safety risks if mishandled. They are flammable and can cause skin and eye irritation. Additionally, prolonged exposure or inhalation of these substances may lead to health issues. Strict regulations and guidelines related to the safe handling, storage, and transportation of THF and GBL can impose limitations on their use and increase compliance costs for manufacturers.

  • Volatility in Raw Material Prices

The cost and availability of raw materials used in producing THF and GBL can be a significant restraint. The prices of feedstock such as butanediol (BDO) and acetylene, which are critical raw materials for GBL and THF, respectively, can be subject to market fluctuations. Price volatility can impact the profitability of manufacturers and influence the overall market dynamics.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In December 2021, BASF SE increased for 1,4-Butanediol (BDO) and derivatives, which include Tetrahydrofuran (THF)  and Gamma-butyrolactone (GBL). BDO and its derivatives are used for producing engineering plastics, polyurethane, pharmaceuticals, solvents and elastic spandex fibers

India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Scope

The market is segmented on the basis of purity, process, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Purity

  • Industrial Class (5 wt. %)
  • Common Class (8 wt. %)
  • Electric Capacitance Class (9 wt. %)Others

Process

  • Acetylene-Based Process
  • Butadiene-Based Process
  • Maleic Anhydride-Based Process
  • Propylene Oxide-Based Process

Application

  • THF (Tetrahydrofuran)
  • POLY THF
  • GBL (Gamma Butyrolactone)

Competitive Landscape and India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Share Analysis

The THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the 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.)
  • Shandong Jinling Chemical Co., Ltd. (China)
  • Recochem Inc. (Canada)


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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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FREQUENTLY ASK QUESTIONS

The India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market will be worth USD 1,017.41 Million by 2030.
The India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Devices Market Growth Rate is 7.90% during the forecast period.
The Strong growth agriculture sector in India, Important intermediate in the chemical manufacturing sector and Increasing use in the pharmaceutical industry are the Growth Drivers of the India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Devices Market
The purity, process, and application are the factors on which the India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Devices Market research is based.
The BASF SE increased for 1,4-Butanediol (BDO) and derivatives, which include Tetrahydrofuran (THF) and Gamma-butyrolactone (GBL). BDO and its derivatives are used for producing engineering plastics, polyurethanes, pharmaceuticals, solvents and elastic spandex fibers are the latest developments in the India THF (Tetrahydrofuran) and GBL (Gamma Butyrolactone) Market Devices Market.
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