Global 2-Methyl Tetrahydrofuran Market Anticipated to Reach US$ 877.9 Million by 2030

According to a recent market study published by Growth Market Reports, titled, “Global 2-Methyl Tetrahydrofuran Market by Type, by Application, and by Region: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at US$ 641.0 Million in 2021 and is anticipated to expand at a growth rate of 3.7% by 2030.

2-Methyltetrahydrofuran (2-MeTHF) is a renewable solvent, and its reactant is obtained from biomass by hydrogenation of products, which are derived from carbohydrate fractions of hemicellulose from various feedstocks. It is biodegradable, with a promising ecological/environmental footprint and good preliminary toxicity assessment, and it is easily recyclable. 2-MeTHF is a readily available, inexpensive, neoteric, and bio-based solvent. It is used in various chemical processes, such as batch manufacturing of fine chemicals, enzymatic polycondensation, and ring-opening polymerization.

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Addition of a methyl group at the 2-position intensely improves chemical stability to strongly basic organic alkaline reagents, allows reactions at elevated temperatures, and avoids or limits the use of toxic & flammable solvents such as diethyl ether. Its physical and chemical properties, such as low miscibility with water, boiling point, and high stability as compared to other cyclic solvents such as THF, make it suitable for applications in syntheses involving organometallics, organocatalysis, and biotransformation or for processing lignocellulosic materials.

The 2-methyl tetrahydrofuran market has been segmented based on purity and application. By purity, the global 2-methyl tetrahydrofuran market is segmented into less than 99% and 99% & above. In terms of application, the market is categorized as extraction of carotenoids, extraction of aromas/synthesis of spices, automotive fuel additive, organometallic reagents, and others. Based on regions, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Key factors that are anticipated to fuel the demand for 2-methyl tetrahydrofuran during the forecast period are the increasing use of 2-methyl tetrahydrofuran in the pharmaceutical industry. 2-methyl tetrahydrofuran is a green solvent used in the pharmaceutical industry for various organometallic catalyzed and biphasic reactions. It is frequently proposed as a sustainable alternative to tetrahydrofuran, due to its extraction efficiency and product recovery capabilities.

It is used as a solvent and as raw material in the synthesis of drugs such as primaquine phosphate and chloroquine phosphate. Additionally, it serves as a raw material for the pharmaceutical industry and is used in the synthesis of anti-hemorrhoidal drugs, such as Bricanyl Phosphate.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. COVID-19 has a moderate impact on industries, due to the simultaneous reduction of supply and demand. The COVID-19 pandemic caused a slight slowdown in market expansion.

As per Growth Market Reports Industry Analyst, Partha Paul, “The expanding chemical industry is expected to contribute to the growth of the global 2-methyl tetrahydrofuran market. This copolymer is heavily used in organometallic reagents, extraction of carotenoids, and extraction of aromas/synthesis of spices, among others.

A supply chain is a network between a manufacturer and suppliers to produce and distribute a specific product to the final buyers. This network includes different people, regulatory bodies, entities, information, and resources. Raw materials used for manufacturing 2-methyl tetrahydrofuran, including furfural, furfural alcohol, and levulinic acid, are shipped to manufacturers to be processed into final products. These products are procured from raw material suppliers and stored at raw material warehouses or directly at manufacturing sites. Raw materials are inspected to ensure their quality.

Key Takeaways from the Study

• Players in the 2-methyl tetrahydrofuran market include Tokyo Chemical Industry Co., Ltd. (TCI), Sisco Research Laboratories Pvt. Ltd, Monument Chemical, Polysciences Inc, Thermo Scientific Chemicals, Honeywell International Inc, Hongye Holding Group Corporation Limited, Pennakem, LLC, Oakwood Products, Inc, Central Drug House, and Manas Petro Chem.  
• Tokyo Chemical Industry Co., Ltd. (TCI), Sisco Research Laboratories Pvt. Ltd, Monument Chemical, Polysciences Inc, and Thermo Scientific Chemicals held a small share of the market in 2021.
• 2-MeTHF is mainly used as a solvent for resin, ethyl cellulose, natural rubber, and chloroacetic acid-vinyl acetate copolymer. It is an organic compound that holds great importance as a solvent. Its chemical and physical properties, such as its low miscibility with water, significant stability, and boiling point as compared to other cyclic-based solvents such as THF, make it suitable for use as a solvent and intermediate in various end-use sectors, including cosmetics, pharmaceuticals, and others. Additionally, it is ideal for applications in syntheses involving organocatalysis, organometallics, and bio-transformations or for processing lignocellulosic materials. This is anticipated to surge the popularity of 2-MeTHF, thus, creating lucrative opportunities for the market players.
•  In terms of purity, the market is segmented into less than 99% and 99% & above. The less than 99% segment is expected to expand at a moderate CAGR during the forecast period. This growth is attributed to the increasing demand for 2-methyl tetrahydrofuran with purity of less than 99% in the food and pharmaceuticals industries. The 99% & above segment is expected to expand at a moderate CAGR during the forecast period. Demand for 2-methyl tetrahydrofuran with a purity of 99% & above in laboratories and for research purposes is growing at a fast pace.
• Based on application, the global 2-methyl tetrahydrofuran market is segmented into the extraction of carotenoids, extraction of aromas/synthesis of spices, automotive fuel additive, organometallic reagents, and others. The extraction of carotenoids segment is expected to expand at a significant CAGR during the forecast period. Carotenoids from various food sources, especially fruits, and vegetables, play a crucial role in maintaining a healthy diet. Carotenoids have been linked to a low risk of numerous diseases, including cancer, cataracts, and macular degeneration.
• The extraction of aromas/synthesis of spices segment is expected to hold a moderate share of the market. Increased consumption of aromas in cosmetics and toiletries, soaps and detergents, and food and beverages is increasing the demand for 2-methyl tetrahydrofuran.
• The automotive fuel additive segment is expected to expand at a moderate CAGR during the forecast period, due to increased demand for upgraded and improved items from the automotive and other end-use sectors. Additionally, supportive government laws and increased public awareness about the need to reduce carbon emissions are expected to contribute to the growth of the segment.
• The organometallic reagents segment is anticipated to hold a moderate share of the market in 2021. 2-methyl tetrahydrofuran is used as a solvent in organometallic reagents. Grignard reagent is a class of organometallic reagents. Increasing use of grignard reagents in medicine is driving the market.
• The others segment includes lithium-ion batteries, active pharmaceutical ingredients, and natural rubber. Increasing demand for lithium batteries in electric vehicles is driving the demand for 2-methyl tetrahydrofuran.
• In terms of regions, the global 2-methyl tetrahydrofuran market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. The market in Asia Pacific held a moderate share of the global market in 2021. Key manufacturers are increasing their investments in Asia Pacific, due to the rapid expansion of the spices market in the region.  The global population is expected to expand, and the rate of urbanization is anticipated to accelerate, particularly in key emerging countries such as China and India. Europe accounted for a significant share of the market in 2021. The presence of a large animal feed sector and the well-established cosmetics industry are the primary drivers of the market in the region. North America is anticipated to hold a moderate share of the global market in 2030, due to the changing lifestyle, and the rise in automotive manufacturing. The market in the Middle East & Africa and Latin America is projected to expand at a low CAGR during the forecast period, owing to the expansion of the automotive and construction power tools that employ Li-ion batteries.

Report Scope

Target Audience

• Supply-side: Manufacturers and distributors
• Demand Side: Chemical Industry, cosmetic industry, and pharmaceutical industry
• Regulatory Side: Concerned government authorities and other approval regulatory bodies
• Associations and Industry Bodies:  CISA, US EPA, and REACH