South Korea Tetrahydrofuran Market 2024 Growth Statistics, Business Demand, Top Manufacturers Data 2032
The South Korea Tetrahydrofuran (THF) market is a significant segment of the global chemical industry, driven by its extensive use in various industrial applications. Tetrahydrofuran, a clear, colorless, and water-miscible organic liquid, serves as a versatile solvent with a high degree of polarity and low boiling point. Its principal application is in the production of polyvinyl chloride (PVC) and polytetramethylene ether glycol (PTMEG), which are essential in the manufacture of spandex fibers, elastomers, and polyurethane. Market Overview In 2023, the market for tetrahydrofuran was estimated to be worth USD 4.0 billion. Over the projection period (2024 - 2032), the Tetrahydrofuran industry is expected to develop at a compound annual growth rate (CAGR) of 5.28%, from USD 4.24 billion in 2024 to USD 6.4 billion by 2032. The market for Tetrahydrofuran in South Korea is primarily propelled by the burgeoning demand from the automotive and construction industries, where PVC and spa