According to a new market research report published by Global Insight Services “Furfural Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Furfural is an organic compound derived from corn cobs. It is used as a building block for many products, including plastics, resins, and adhesives. It is also a key ingredient in the production of furan, a versatile polymer used in a variety of applications.
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Key Trends
The key trends in furfural technology are:
– Increasing use of furfural as a renewable feedstock for the production of chemicals and fuels
– Development of new processes for the production of furfural from biomass
– Increasing investment in furfural production facilities
– Expansion of the global furfural market
Key Drivers
The key drivers of the Furfural market are the rapid growth in the demand for bio-based chemicals and the increasing preference for renewable feedstock. Furfural is a bio-based chemical that is derived from biomass, such as corn cobs and sugar cane bagasse. It is used as a raw material in the production of a variety of chemicals, including furan, which is used in the production of plastics, resins, and adhesives. The demand for furfural has been growing at a rapid pace in recent years, driven by the increasing preference for renewable feedstock and the need for more environmentally friendly products.
Market Segments
The Furfural Market is segmented by raw material, application, end user, and region. By raw material, the market is divided corn cobs, rice husk, sugarcane bagasse, and others. The application segment is categorized into furfuryl alcohol, solvent, and others. By end user, the market is classified into petroleum refineries, agricultural formulations, paints & coatings, pharmaceuticals, and others. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Furfural Market includes players such as Arcoy Industries Pvt. Ltd., Central Romana Corporation, Ltd., Hongye Holding Group Corporation, Illovo Group, KRBL Ltd., Lenzing AG, Penn A Kem LLC, Silvateam, Tanin Sevnica d.d and Tieling North Furfural (Group) Co. Ltd.
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