The global Furfural market is forecasted to reach USD 793.3 Million by 2027, according to a new report by Reports and Data. Growing demand for the market is due to the rise in demand for green chemicals. An increase in concern for the environment and shift to renewable alternatives to replace fossil fuels will propel the growth of the industry. The growing demand in the pharmaceutical sectors will also propel the demand for the product.
The driving factor of the market is the stringent regulations with regards to the air pollution standards. The market products are extracted from the lignocellulosic and agricultural feedstock. The adhesives segment is witnessing increased demand due to its usage in the automotive industry as weight-reducing components. Moreover, the demand for non-toxic Furfural in petroleum refineries is also encouraging the growth of the market. High demand from the food and beverage industries is also supporting market demand.
However, slow technological advancement and lack of production process frameworks are expected to fuel the demand for the market. Moreover, the development of new technologies is also creating ample opportunities for growth. Raw materials for Furfural are available in Asia Pacific regions such as India, China, Malaysia, and Indonesia, and the cost of production is also quite low.
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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Furfural market and profiled in the report are:
Pennakem, Lenzing, Central Romana Corporation, Illovo Sugar Africa, Transfurans Chemicals, Hongye Holding Group Corporation, Silvateam, Shandong Crownchem Industries Limited, KRBL, and Laxmi Furals Private Limited, among others.
The research study further covers the expansion and scope of the market in the key geographies across the globe. It assesses the scope of the market on a global as well as country-wise level. The market is spread across the key regions that include: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report provides a comprehensive analysis of the production and consumption patterns, import and export ratio, supply and demand dynamics, key trends and demands, consumer behavior, and presence and operations of prominent players in each region of the market.
The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2022-2027 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.
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The report further segments the market on the basis of product types and application spectrum offered by the market.
- Raw Material Outlook (Revenue, USD Billion; 2017-2027)
- Sugarcane Bagasse
- Rice Husk
- Sunflower Hull
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Furfuryl alcohol
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Paints & Coatings
- Food & Beverage
Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Highlights of the TOC:
Chapter: 1. Report Overview
1.1 Research Scope
1.2 Key Furfural market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
Chapter: 2. Global Growth Trends
2.1 Global Furfural market size
2.2 Latest Furfural market trends
2.3 Key growth trends
Chapter: 3. Competitive Landscape
3.1 Global Furfural market key players
3.2 Global Furfural size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Furfural market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the Furfural market and its competitive landscape.
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