Furfural Market Insights:
The Furfural Market was analyzed which was worth USD 556.73 Million in the year 2022, expecting a CAGR of 6.9% during the forecast period (2023-2030), and the market is projected to be valued at USD 949.44 Million by 2030.
The increased adoption of Furfural in the Renewable Chemicals is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Furfural also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Furfural in many sectors also boosts the market growth during the forecast period.
Furfural is an organic compound that is derived from pentose sugars, such as xylose, found in agricultural and forestry residues, as well as in some food waste streams. It is a colorless or slightly yellow liquid with an almond-like odor and a boiling point of 161-165 °C. Furfural is used in various industrial applications, including as a solvent, in the production of resins and plastics, and as a starting material for the synthesis of other chemicals.
Furfural Market Research Report” was just released by Market Research Community. It is divided into several categories, including Process (Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process, Others), application (Furfuryl alcohol, Solvent, Intermediate, Others), Raw Material (Corn cob, Sugarcane bagasse, Sunflower hull, Rice husk, Others), End-use (Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverage, Refineries, Others), and companies (Illovo Sugar Africa (Pty.) Ltd, Linzi Organic Chemical Inc. Ltd., Trans Furans Chemicals bvba, Central Romana Corporation, DalinYebo, Hebeichem, KRBL Ltd., Silva team S.p.a., LENZING AG), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 6.9%, over the forecast period of 2023–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Million)||949.44 Million|
|By Process||Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process, Others|
|By Raw Material||Corn cob, Sugarcane bagasse, Sunflower hull, Rice husk, Others|
|By Application||Furfuryl alcohol, Solvent, Intermediate, Others|
|By End-use||Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverage, Refineries, Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Illovo Sugar Africa (Pty.) Ltd, Linzi Organic Chemical Inc. Ltd., Trans Furans Chemicals bvba, Central Romana Corporation, DalinYebo, Hebeichem, KRBL Ltd., Silva team S.p.a., LENZING AG|
The COVID-19 pandemic has had a substantial negative influence on the Furfural market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Illovo Sugar Africa (Pty.) Ltd, Linzi Organic Chemical Inc. Ltd., Trans Furans Chemicals bvba, Central Romana Corporation, DalinYebo, Hebeichem, KRBL Ltd., Silva team S.p.a., LENZING AG
Market Segment Analysis:
- Quaker Batch Process
- Chinese Batch Process
- Rosenlew Continuous Process
By Raw Material
- Corn cob
- Sugarcane bagasse
- Sunflower hull
- Rice husk
- Furfuryl alcohol
- Paints & Coatings
- Food & Beverage
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Furfural industries in the region.
Key Furfural Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Furfural Market segments.
– Largest Market Share Held by Industry to Industry for Furfural
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Furfural Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
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