The Global Bio-based Poly (Tetrahydrofuran) THF1000 Market was valued at USD 1.42 Billion in 2024 and is projected to reach USD 2.35 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period (2024–2030). This robust growth is primarily driven by the escalating demand for sustainable materials in the production of high-performance elastomers like Spandex, increasing regulatory pressure to reduce carbon footprints, and significant advancements in bio-refining technologies.

As the chemical industry pivots towards a circular economy, the production of bio-based intermediates is gaining unprecedented momentum. Bio-based PolyTHF, a key precursor for polyurethane elastomers, is at the forefront of this transition. This blog profiles the Top 10 Companies in the Bio-based Poly (Tetrahydrofuran) THF1000 Market— a blend of chemical giants, innovative specialists, and regional leaders who are shaping the future of sustainable polymer production.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Bio-based PolyTHF (PolyTetrahydrofuran), Certified Biomass Balance products

BASF is a global leader in chemical production and a pioneer in developing sustainable solutions. The company produces PolyTHF, a crucial building block for elastic fibers like Spandex, using a certified biomass balance approach. This method allocinates bio-based raw materials to specific products within their integrated Verbund production system, significantly reducing the carbon footprint.

Sustainability Initiatives:

• Certified biomass balance PolyTHF for CO2-reduced Spandex.

• Commitment to achieving net-zero CO2 emissions by 2050.

• Extensive R&D in bio-based and circular raw materials.

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9️⃣ 2. Invista

Headquarters: Wichita, Kansas, USA
Key Offering: Traditional and bio-derived PTMEG (PolyTetramethylene Ether Glycol)

As a leading producer of intermediates for nylon and spandex, INVISTA is a major consumer and influencer in the PolyTHF market. The company focuses on securing sustainable supply chains for its LYCRA® fiber production, driving demand for bio-based PolyTHF to meet brand sustainability goals.

Sustainability Initiatives:

• Development of LYCRA® fiber made with renewable resources.

• Partnerships with suppliers for bio-derived PTMEG.

• Focus on lifecycle assessments for its key products.

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8️⃣ 3. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: Bio-PTMG (PolyTetramethylene Ether Glycol) under the “BioPTHF” initiative

Mitsubishi Chemical is a key Asian player with a strong focus on developing bio-based alternatives for its chemical portfolio. The company is actively advancing its BioPTHF technology, which utilizes bio-succinic acid as a feedstock to produce PolyTHF, targeting the eco-friendly textile and elastomer markets.

Sustainability Initiatives:

• Commercial-scale development of BioPTHF from bio-succinic acid.

• Aligned with the KAITEKI vision for sustainable value creation.

• Investment in green innovation centers.

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7️⃣ 4. Dairen Chemical Corporation (DCC)

Headquarters: Taipei, Taiwan
Key Offering: THF and PTMEG, with R&D into bio-based routes

Dairen Chemical is one of the world’s largest producers of Tetrahydrofuran (THF) and PolyTHF (PTMEG). While traditionally reliant on fossil-based feedstocks, the company is investing in research to integrate bio-based production pathways to maintain its competitive edge in a sustainability-driven market.

Sustainability Initiatives:

• Exploration of bio-based THF production technologies.

• Focus on process efficiency and emission reduction in existing operations.

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6️⃣ 5. Ashland Global Holdings Inc.

Headquarters: Wilmington, Delaware, USA
Key Offering: Specialty chemicals, including polyether polyols for urethanes

Ashland is a leading global specialty chemicals company. While not a primary producer of PolyTHF, it is a significant downstream user in its formulations for cast urethanes, adhesives, and coatings. The company’s commitment to sustainability drives its procurement strategies towards bio-based intermediates.

Sustainability Initiatives:

• Commitment to sustainable innovation and bio-based raw materials.

• Development of eco-friendly product portfolios for various industries.

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5️⃣ 6. Sinopec

Headquarters: Beijing, China
Key Offering: THF, BDO (1,4-Butanediol), and PTMEG

China Petroleum & Chemical Corporation (Sinopec) is a major integrated energy and chemical company. It possesses significant production capacity for the conventional THF and PTMEG value chain. Sinopec is increasingly focusing on green and low-carbon development, with investments in bio-based chemical research.

Sustainability Initiatives:

• Green and low-carbon development strategy integrated into corporate planning.

• R&D initiatives for producing chemicals from non-food biomass.

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4️⃣ 7. Novamont S.p.A.

Headquarters: Novara, Italy
Key Offering: Bio-based chemical intermediates and bioplastics

Novamont is a world leader in the bioplastics sector, specializing in products from renewable sources. While its focus is on biodegradable plastics, its expertise in bio-refining and converting biomass into chemical intermediates positions it as a potential key innovator in the bio-based PolyTHF space.

Sustainability Initiatives:

• Pioneer in integrated biorefineries using local, non-food biomass.

• Strong commitment to the circular bioeconomy model.

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3️⃣ 8. Genomatica

Headquarters: San Diego, California, USA
Key Offering: Bio-based process technology for BDO (1,4-Butanediol)

Genomatica is a biotechnology leader that develops patented processes to make widely-used chemicals from renewable feedstocks. Its flagship product is bio-BDO, a direct precursor to THF and PolyTHF. The company licenses its technology to chemical producers worldwide, enabling them to manufacture bio-based versions of these critical materials.

Sustainability Initiatives:

• World’s first commercial-scale production of bio-BDO.

• Technology partnerships with major chemical companies to decarbonize supply chains.

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2️⃣ 9. Roquette Frères

Headquarters: Lestrem, France
Key Offering: Plant-based ingredients and bio-succinic acid

Roquette is a global leader in plant-based ingredients. The company produces bio-succinic acid, a key potential feedstock for producing bio-based THF via the succinic acid pathway. Its strong position in renewable carbohydrates makes it a crucial player in the upstream bio-chemical value chain.

Sustainability Initiatives:

• Major producer of bio-succinic acid from non-GMO European crops.

• Commitment to providing sustainable solutions for the chemical industry.

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1️⃣ 10. Cargill Incorporated

Headquarters: Minnetonka, Minnesota, USA
Key Offering: Bio-industrial products, including bio-based intermediates

Cargill’s industrial bio-products division leverages its vast agricultural supply chain to produce renewable chemicals. Through joint ventures and internal projects, Cargill is involved in producing bio-based glycols and other intermediates that can feed into the PolyTHF production pathway, emphasizing scalability and supply chain reliability.

Sustainability Initiatives:

• Investment in transforming agricultural products into industrial chemicals.

• Focus on reducing GHG emissions across its value chains.

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🌍 Outlook: The Future of Bio-based PolyTHF is Resilient and Circular

The bio-based PolyTHF market is at a critical inflection point. While conventional production still dominates, the shift towards bio-based alternatives is accelerating, driven by brand commitments, consumer awareness, and supportive regulations. The companies leading this charge are not just selling a product; they are enabling the decarbonization of entire value chains, from apparel to automotive.

📈 Key Trends Shaping the Market:

• Brand-Driven Demand: Major apparel brands are setting ambitious targets for using recycled and bio-based materials in their products, directly fueling demand for bio-based Spandex.

• Technology Diversification: Development of multiple production pathways, including biomass balance, bio-succinic acid route, and direct fermentation, enhancing supply security.

• Regulatory Tailwinds: Policies like the EU’s Green Deal and plastic taxes are creating a favorable economic environment for bio-based chemicals.

• Strategic Partnerships: Increased collaboration between biotechnology firms, chemical producers, and brand owners to de-risk investments and commercialize new technologies.

Get Full Report Here: Bio-based Poly (Tetrahydrofuran) THF1000 Market – View in Detailed Research Report

The top companies profiled here are not merely participants in a market—they are the architects of a more sustainable and circular future for the global polymer industry.