Furfural is an organic intermediate obtained using renewable sources. It finds use in various applications such as derivatives and solvents as it is a green chemical and has no adverse effect on the environment during its consumption and production.
The furfural market size is projected to grow from USD 551 million in 2019 to USD 700 million by 2024, at a compound annual growth rate (CAGR) of 4.9%, during the forecast period.
Request for sample report Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk and Others), Application (Derivatives (Furfural Alcohol and Other Derivatives), solvent) and Region (Asia-Pacific, Americas, Europe, Middle East, and Africa): https://www.marketsandmarkets.com/requestsampleNew.asp?id=101056456
Key questions addressed by the report
- What was the market size of furfural in 2018?
- What are the global trends in demand for furfural?
- Will the market witnessed an increase or decline in demand in the near future?
- What were the revenue pockets for furfural in 2018?
- Who are the key players in the global furfural market?
“Corncob is the largest raw material segment of the furfural market.”
Corncob is extensively used as the raw material for furfural. This is mainly due to the high presence of xylose and pentosan, which are converted into furfural during the synthesis.
“The derivatives application is expected to register the fastest growth during the forecast period.”
The derivatives application is estimated to grow at the fastest rate during the forecast period due to the high demand from various end-use industries. Furfuryl Alcohol (FA) is the major derivative, which consumes almost 80–85% of the furfural produced around the world.
The leading players in the furfural market are 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), and Shandong Crownchem Industries (China).
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