Furfural is an organic compound derived from agricultural wastes such as corncobs, wheat bran, sugarcane bagasse, and oats. Furfural is the building block for polymers and solid elastomers in petrochemicals products. In recent years, furfural derivatives such as furan-2,5-dicarboxylic acid (FDCA), 5-hydroxymethylfurfural (HMF), and polytetrahydrofuran (poly-THF) have gained importance as fuel resources. Furfural is manufactured by conventional methods such as the Quaker Oats process. Also, it is produced directly from the grain milling and processing method. Furfural is a colorless and oily liquid with an almond-like aroma. Its properties include thermosetting, corrosion resistance, and physical stress resistance.
Market trend Snapshot
Global Furfural market was valued at 867 million USD in 2019 and anticipated to reach 1,798 million USD by 2026, growing at a CAGR of 10.98%. This report provides comprehensive and in-depth analysis and prediction of the Furfural industry. The Furfural market is primely attributed to the economic development in emerging economies. However, the lack of technological advancements and fluctuating prices of raw materials are factors that projected to hinder the market growth.
From Base year 2018 to forecast year 2026
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Key Market Players Profile
Various market pacemakers covered in the report are Teiling, Central Romana, TransFurans Chemicals, Penn A Kem, Illovo Sugar, Lenzing Group, Silvateam, KRBL, Nutrafur, Hongye Holding, China Furfural, Harborchem, LENZING, Furnova, GoodRich Sugar, hebeichem, Linzi Organic Chemical, Tanin Sevnica, TCI Chemicals, and Zhucheng Taisheng Chemical. The report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies, which will help companies create strategies to take advantages of the emerging opportunities in the future. Production and consumption are estimated to continue developing with a stable growth rate during the forecast period. As a result of meeting the surging demand, more manufacturers are expected to go into this industry.
Asia Pacific holds the largest Furfural market share
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, development trends, and economic development in these countries are also taken into consideration.
The Asia Pacific dominated the Furfural market in 2018 with a share of 42.22% and expected to grow at a stable speed. This is mainly attributed to low manufacturing costs, increase in disposable incomes, and availability of raw materials. China holds a major share of the market in the Asia Pacific owing to growth in the metal casting industry in the country. China is a key exporter of furfural. It exports the chemical compound to the U.S. and countries such as Japan, Belgium, Singapore, and South Korea. Europe is currently leading North America with a share of 25.97% and 23.10%.
Furfural Type and Application Sketch
By type
By application
Furfuryl alcohol was the largest segment and expected to maintain dominance during the forecast period. Increasing furan resins demand in foundry applications such as sand binders is expected to remain a key driving factor for this segment.
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Furfural Report provides
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Furfural Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Furfural Market by Types
4 Segmentation of Furfural Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Furfural Market in Major Countries
7 North America Furfural Landscape Analysis
8 Europe Furfural Landscape Analysis
9 Asia Pacific Furfural Landscape Analysis
10 Latin America, Middle East & Africa Furfural Landscape Analysis
11 Major Players Profile
11.1 Teiling
11.1.1 Teiling Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Central Romana
11.3 TransFurans Chemicals
11.4 Penn A Kem
11.5 Illovo Sugar
11.6 Lenzing Group
11.7 Silvateam
11.8 KRBL
11.9 Nutrafur
11.10 Hongye Holding
11.11 China Furfural
11.12 Harborchem
11.13 LENZING
11.14 Furnova
11.15 GoodRich Sugar
11.16 hebeichem
11.17 Linzi Organic Chemical
11.18 Tanin Sevnica
11.19 TCI Chemicals
11.20 Zhucheng Taisheng Chemical
…
Target Audience:
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