Furfural Market Research Report, Trends, Size, Share, Top 10 key Players Analysis

Comments · 37 Views

Corncob is the middle part of the maize on which the kernels are grown. Corncob and SCB are the two primary raw materials used to produce furfural.

What is Furfural Industry?

The furfural industry is a sector of the chemical industry that is concerned with the production and refining of furfural, a chemical compound derived from various agricultural byproducts such as corncobs, oat hulls, and rice husks. Furfural is used in a variety of applications, including as a solvent, a flavoring agent, and a building block for the synthesis of various chemicals. It is also used in the production of furfuryl alcohol, which is used as a resin for foundry sand binders and in the production of various plastics and adhesives.

According to the latest report by MNM, titled, “Furfural Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast. The global furfural market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

The furfural market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period. The increasing usage of various derivatives of furfural in different industries and shift toward green chemicals are propelling the market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=101056456

Key Players in This Report Include:

  • Transfuran Chemicals (Belgium)
  • Central Romana Corporation (Dominican Republic)
  • Pennakem (US)
  • Silvateam (Italy)
  • Illovo Sugar (South Africa)
  • Hongye Holding Group Corporation (China)
  • KRBL(India)
  • Lenzing (Austria)
  • Tanin (Slovenia)
  • Shandong Crownchem Industries (China)

Furfural Market Demand Drivers

The furfural market is expected to experience moderate growth over the next few years, driven by factors such as increasing demand from the pharmaceutical, agricultural, and chemical industries, as well as the growing popularity of furfural as a bio-based alternative to petrochemicals. Other drivers of market growth include rising environmental concerns, government support for bio-based products, and advancements in furfural production technology. However, factors such as the fluctuating prices of raw materials and the availability of substitutes may limit the growth of the furfural market in some regions.

Furfural Market Segmentation

Based on application:

  • Derivatives
  • Solvent
  • Others (pharmaceutical, agriculture and food beverage)

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=101056456

The derivatives application is expected to register the fastest growth during the forecast period

Furfural, a chemical derived from agricultural waste, has several derivatives that find application in various industries. For example, furfuryl alcohol, a derivative of furfural, is used in foundry resins, composites, and adhesives. Furoic acid, another derivative, is used in the production of nylon, plastics, and pharmaceuticals. Tetrahydrofurfuryl alcohol, a third derivative, is used as a solvent and in the manufacture of resins, coatings, and flavors.

Based on raw material:

  • Sugarcane Bagasse
  • Corncob
  • Rice Husk
  • Others (wood chips, oat hulls, and cotton husks)

Corncob is the largest raw material segment of the furfural market

The furfural market has a segment for corncobs, which are a source of raw material for producing furfural through acid hydrolysis. Corncob-based furfural is used in various industries, including pharmaceuticals, food and beverage, plastics, and lubricants, among others. The demand for corncob-based furfural is expected to increase due to its sustainable and eco-friendly nature, as corncobs are a waste product from the corn industry. 

Based on region:

  • Americas
  • Europe
  • APAC
  • Middle East Africa

The furfural market in China is expected to experience moderate growth over the next few years due to increasing demand for furfural-based chemicals in various industries, such as pharmaceuticals, agrochemicals, and plastics. The market is also driven by the growth of the Chinese economy and the increasing focus on renewable and sustainable resources.

Ask Analyst for 10% Free Customized Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=101056456

The furfural market is expected to experience growth globally, with increasing demand for furfural derivatives in industries such as pharmaceuticals, agriculture, and food. Asia Pacific is expected to see the highest growth due to the presence of key market players and increasing demand from the chemical and pharmaceutical industries. North America and Europe are also expected to see steady growth due to increasing demand for renewable and bio-based chemicals. However, the growth rate may be impacted by factors such as raw material availability, government regulations, and the availability of substitutes.

Table of Contents:

  • Executive Summary
  • Scope/opportunities of the Furfural Market Report
  • Research Methodology
  • Furfural Market Landscape
  • SWOT Analysis
  • Market Sizing
  • Furfural Market Segmentation
  • Customer Landscape
  • Regional Landscape
  • Business Decision Framework
  • Drivers And Challenges
  • Furfural Market Key Trends
  • Players Landscape
  • Players Analysis 

*** Trending Report of MNM***

https://www.prnewswire.com/news-releases/steel-rebar-market-worth-317-4-billion-by-2030---exclusive-report-by-marketsandmarkets-301730179.html

https://www.prnewswire.com/news-releases/asphalt-additive-market-worth-4-7-billion-by-2026--exclusive-report-by-marketsandmarkets-301276637.html

https://www.prnewswire.com/news-releases/corrosion-inhibitors-market-worth-10-1-billion-by-2026--exclusive-report-by-marketsandmarkets-301308817.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Read more
Comments
For your travel needs visit www.urgtravel.com