Furfural Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Furfural is the most widely used chemicals in the furan family and source for other technically important furans. Furfural has low viscosity and high reactivity along with excellent thermal, chemical and mechanical properties. Furfural is used as a solvent for refining lubricating oils. It is an essential source for hexamethylenediamine which is required in the manufacture of nylon.

MARKET DYNAMICS

The furfural market is anticipated to grow in the forecast period owing to driving factors such as increasing awareness regarding benefits of furfural and easy availability of the raw material. However, fluctuating prices of the raw material restrict the furfural market. On the other hand, technological advancements and increasing demands of furfural in developing countries provide significant growth opportunities for major market players in the furfural market during the forecast period.

MARKET SCOPE

The "Global Furfural Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of furfural market with detailed market segmentation by raw material, application, catalyst type, end-user industry, and geography. The global furfural market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading furfural market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global furfural market is segmented on the basis of raw material, application, catalyst type, and end user industry. Based raw material, the furfural market is segmented as agricultural raw materials and lignocellulosic feedstock. Agricultural raw materials are sub-segmented as corn hubs, rice husk, bagasse, cotton husk, oat husk, and almond husk. On the basis of the application, the market is segmented as solvents, flavor enhancers, gasoline additives, decolorizing agents, resins, and fungicides. Furfural market by solvents is further sub-segmented as methyl furan, furfuryl alcohol, tetrahydrofurfuryl, furoic acid. By catalyst type, the market is segmented as solid acid type and liquid acid type catalyst. Solid acid type catalyst market is sub-segmented as zeolite. On the other hand, liquid acid type catalyst market is classified into Lewis acid and bronsted acids. The market on the basis of the end user industry is classified as agrochemical industry, pharmaceutical & medical industry, lubricants industry, cements industry, energy industry, adhesives industry, coatings industry, food & beverages industry, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global furfural market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The furfural market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting furfural market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the furfural market in these regions.

MARKET PLAYERS

The reports cover key developments in the furfural market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from furfural market are anticipated to lucrative growth opportunities in the future with the rising demand for furfural in the global market. Below mentioned is the list of few companies engaged in the furfural market.

The report also includes the profiles of key furfural companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last three years, key development in past five years.

• Arcoy
• Aurus Speciality Company
• Behran Oil Co.
• Central Romana Corporation
• ILLOVO SUGAR AFRICA (PTY) LTD
• International Furan Chemicals B.V.
• LENZING AG
• Pennakem, LLC
• Silvateam S.p.a.
• TransFurans Chemicals

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Furfural Report Scope