Tetrahydrofuran market
Tetrahydrofuran - World's Largest Markets
| Rating | Country |
|---|---|
| 1 | China |
| 2 | United Arab Emirates |
| 3 | India |
| 4 | Taiwan (Chinese) |
| 5 | Dominican Republic |
In value terms, China led the market, alone. The second position in the ranking was occupied by the United Arab Emirates. It was followed by India.
In China, the market of tetrahydrofuran, 2-furaldehyde, furfuryl alcohol, tetrahydrofurfuryl alcohol and piperonal expanded at an average annual rate of +30.3% over the period from 2018-2020. The remaining consuming countries recorded the following average annual rates of market growth: the United Arab Emirates (-0.9% per year) and India (+2.6% per year).
Tetrahydrofuran, 2-Furaldehyde, Furfuryl Alcohol, Tetrahydrofurfuryl Alcohol And Piperonal Prices
Lowest Prices - FOB - Top Exporters
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| USD per ton | ||||
| Saudi Arabia | 1908 | 1669 | 1295 | -17.6% |
| South Africa | 1817 | 1735 | 1399 | -12.3% |
| Germany | 1946 | 1800 | 1628 | -8.5% |
| Malaysia | 2308 | 1955 | 1724 | -13.6% |
| Belgium | 2261 | 2030 | 1749 | -12.0% |
| China | 2609 | 1804 | 1880 | -15.1% |
| United States | 2659 | 2288 | 1988 | -13.5% |
| Average | 1181 | 1235 | 1975 | 29.3% |
There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was the United States ($1,988 per ton), while Saudi Arabia ($1,295 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced a decline in the export price figures.
Highest Prices - CIF - Top Importers
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| USD per ton | ||||
| Germany | 2721 | 2116 | 1914 | -16.1% |
| United States | 1963 | 2048 | 1836 | -3.3% |
| India | 2467 | 1981 | 1772 | -15.2% |
| Japan | 2583 | 1823 | 1764 | -17.4% |
| Netherlands | 2003 | 2021 | 1734 | -7.0% |
| China | 1714 | 1485 | 1685 | -0.8% |
| Italy | 2627 | 1950 | 1644 | -20.9% |
| South Korea | 2221 | 1712 | 1598 | -15.2% |
| Taiwan (Chinese) | 1707 | 1380 | 1469 | -7.2% |
| Belgium | 1125 | 1076 | 964 | -7.4% |
| United Arab Emirates | 368 | 331 | 314 | -7.6% |
| Average | 1620 | 1369 | 1253 | -12.0% |
There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Germany ($1,914 per ton), while the United Arab Emirates ($314 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced a decline in the import price figures.
Tetrahydrofuran, 2-Furaldehyde, Furfuryl Alcohol, Tetrahydrofurfuryl Alcohol and Piperonal - Top Importers
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| million USD | ||||
| India | 71 | 72 | 64 | -4.5% |
| United Arab Emirates | 66 | 61 | 60 | -4.1% |
| South Korea | 101 | 75 | 57 | -24.5% |
| United States | 67 | 57 | 53 | -11.4% |
| Germany | 59 | 43 | 38 | -19.5% |
In value terms, the largest tetrahydrofuran, 2-furaldehyde, furfuryl alcohol, tetrahydrofurfuryl alcohol and piperonal importing markets worldwide were India ($64M), the United Arab Emirates ($60M) and South Korea ($58M), together accounting for 30% of global imports. These countries were followed by the United States, Germany, Japan, China, Belgium, the Netherlands, Italy and Taiwan (Chinese), which together accounted for a further 39%.
The Netherlands recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced mixed trends in the imports figures.
Tetrahydrofuran, 2-Furaldehyde, Furfuryl Alcohol, Tetrahydrofurfuryl Alcohol and Piperonal - Top Exporters
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| million USD | ||||
| China | 268 | 179 | 125 | -31.9% |
| Belgium | 72 | 57 | 71 | -1.0% |
| Germany | 75 | 70 | 66 | -6.1% |
| United States | 42 | 54 | 43 | 1.4% |
| Malaysia | 23 | 27 | 33 | 19.4% |
In value terms, China ($125M), Belgium ($71M) and Germany ($66M) constituted the countries with the highest levels of exports in 2020, together comprising 51% of global exports. The United States, Malaysia, South Africa and Saudi Arabia lagged somewhat behind, together comprising a further 24%.
Malaysia saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Tetrahydrofuran, 2-Furaldehyde, Furfuryl Alcohol, Tetrahydrofurfuryl Alcohol and Piperonal - Market Forecast
Driven by rising demand for tetrahydrofuran, 2-furaldehyde, furfuryl alcohol, tetrahydrofurfuryl alcohol and piperonal worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.
Tetrahydrofuran - Product Coverage
- HS 293211 - Heterocyclic compounds; with oxygen hetero-atom(s) only, containing an unfused furan ring (whether or not hydrogenated) in the structure, tetrahydrofuran
- HS 293212 - Heterocyclic compounds; with oxygen hetero-atom(s) only, containing an unfused furan ring (whether or not hydrogenated) in the structure, 2-furaldehyde (furfuraldehyde)
- HS 293213 - Heterocyclic compounds; with oxygen hetero-atom(s) only, containing an unfused furan ring (whether or not hydrogenated) in the structure, furfuryl alcohol and tetrahydrofurfuryl alcohol
- HS 293293 - Heterocyclic compounds; with oxygen hetero-atom(s) only, (other than lactones or compounds containing an unfused furan ring (whether or not hydrogenated) in the structure), piperonal
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