Furfural Market Growth Report | 2021 to 2031
The Furfural Market is expected to register a CAGR of 3% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The furfural market report is segmented by source (sugarcane bagasse, corncob, rice husk, and others). The market is segmented based on the end use industry (agrochemical, pharmaceuticals, paints and coatings, adhesives, oils and lubricants, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Furfural Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Furfural Market Segmentation
Source- Sugarcane Bagasse
- Corncob
- Rice Husk
- Agrochemical
- Pharmaceuticals
- Paints and Coatings
- Adhesives
- Oils and Lubricants
Strategic Insights
Furfural Market Growth Drivers- Rising Demand for Bio-Based Materials: The global orientation towards the purchase of bio-based materials, rather than synthetic materials, is a key factor for furfural market growth. Due to its origin from agricultural waste, furfural poses less environmental harm than products from petrochemicals. This fits with the world’s efforts to minimize the carbon in the atmosphere while ensuring s
- Furfural's Role as an Intermediate in the Production of Solvents, Coatings, and Resins Boosting Market Growth: As a building block, furfural is classified as an intermediate compound as it finds use in the manufacturing of solvents, coatings, and resins, among other products. The furfural market is benefitting from the growth of such industries where products such as coatings, adhesives and plastics have a high demand.
- Increased Agricultural Use of Pesticides and Herbicides Fueling Demand for Furfural: Increasing agricultural use of pesticides and herbicides is responsible for the growth in the demand for furfural. It acts as an intermediate in the production of agrochemical compounds, and as the food supply increases globally, the need for such agricultural chemical agents will also increase, thus aiding the growth of the furfural industry.
- Green Chemistry Principles Steering the Furfural Market Towards Safer, Eco-Friendly Processes: The principles of green chemistry strive to prevent the generation of substances and waste if it so happens to involve a chemical process. With the advancement of technologies and changes in the demand of consumers towards safer products, it is predictable that the furfural market will be directed towards interventions that make these processes devoid of the use of hazardous chemicals.
- Advancements in Production Technologies: It is expected that the modern production processes with the likes of better catalysts and biomass conversion will improve the rate and volume of furfural obtained. These innovations can significantly reduce the prices of production and improve the standing of furfural in the market as compared to its orthodox chemicals, thus expanding its use in various sectors.
- Furfural's Potential as a Biofuel and Renewable Energy: Furfural is also examined as a possible biofuel and additive of alternative energies. With the developments in renewable energies around the world, it can be used in the preparation of bioenergy providing the basis for the expected growth of furfural in the energy markets.
- Industrialization and Urbanization in Developing Countries: The increasing industrialization and urbanization of developing countries, in particular Asia-Pacific and Latin America, offers ample scope for the advancement of the furfural market. The demand for furfural and its derivatives will likely grow with the development of chemical industries in these regions.
- R&D Opportunities Fueling Expansion of Furfural Applications in New Industries: There is a high furfural market owing potential for R&D markets due to the existing and new applications that may be developed for the product as well as improvement on production technologies. Growth is further assured for players daring to develop new uses for the market, especially in new industries like pharmaceuticals and advanced materials.
- Collaboration Between Manufacturers, Researchers, and End-Users Expanding Furfural's Market Potential: Manufacturers, research institutions, and end-users, on the other hand, could work together in creating further potential uses for furfural. Such collaboration would focus on combining strengths and resources, resulting in improved products and new markets for the furfural industry, which will promote the furfural industry as a whole.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Furfural Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Furfural Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Furfural Market is estimated to witness a CAGR of 3% from 2023 to 2031
The growing demand for bio-based chemicals is driving the market growth.
Behran Oil Co, Central Romana Corporation Ltd, Illovo Sugar Africa Pty Ltd, International Furan Chemicals BV, Lenzing AG, Pennakem LLC, Sappi Limited, Silvateam Spa, Tanin Sevnica, and Tokyo Chemical Industry Pvt Ltd are the key players operating in the furfural market.
Based on source, the sugarcane bagasse segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the furfural market due to its growing biochemicals industry.
The increased focus on green chemistry is expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Furfural Market - By Raw Material
1.3.2 Furfural Market - By Application
1.3.3 Furfural Market - By Catalyst Type
1.3.4 Furfural Market - By End User Industry
1.3.5 Furfural Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. FURFURAL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. FURFURAL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FURFURAL MARKET - GLOBAL MARKET ANALYSIS
6.1. FURFURAL - GLOBAL MARKET OVERVIEW
6.2. FURFURAL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FURFURAL MARKET - REVENUE AND FORECASTS TO 2028 - RAW MATERIAL
7.1. OVERVIEW
7.2. RAW MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. AGRICULTURAL RAW MATERIALS
7.3.1. Overview
7.3.2. Agricultural raw materials Market Forecast and Analysis
7.3.3. Corn hubs Market
7.3.3.1. Overview
7.3.3.2. Corn hubs Market Forecast and Analysis
7.3.4. Rice husk Market
7.3.4.1. Overview
7.3.4.2. Rice husk Market Forecast and Analysis
7.3.5. Bagasse Market
7.3.5.1. Overview
7.3.5.2. Bagasse Market Forecast and Analysis
7.3.6. Cotton husk Market
7.3.6.1. Overview
7.3.6.2. Cotton husk Market Forecast and Analysis
7.3.7. Oat husk Market
7.3.7.1. Overview
7.3.7.2. Oat husk Market Forecast and Analysis
7.3.8. Almond husk Market
7.3.8.1. Overview
7.3.8.2. Almond husk Market Forecast and Analysis
7.4. LIGNOCELLULOSIC FEEDSTOCK
7.4.1. Overview
7.4.2. Lignocellulosic feedstock Market Forecast and Analysis
8. FURFURAL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SOLVENTS
8.3.1. Overview
8.3.2. Solvents Market Forecast and Analysis
8.3.3. Methyl furan Market
8.3.3.1. Overview
8.3.3.2. Methyl furan Market Forecast and Analysis
8.3.4. Furfuryl alcohol Market
8.3.4.1. Overview
8.3.4.2. Furfuryl alcohol Market Forecast and Analysis
8.3.5. Tetrahydrofurfuryl Market
8.3.5.1. Overview
8.3.5.2. Tetrahydrofurfuryl Market Forecast and Analysis
8.3.6. Furoic acid Market
8.3.6.1. Overview
8.3.6.2. Furoic acid Market Forecast and Analysis
8.4. FLAVOR ENHANCERS
8.4.1. Overview
8.4.2. Flavor enhancers Market Forecast and Analysis
8.5. GASOLINE ADDITIVES
8.5.1. Overview
8.5.2. Gasoline additives Market Forecast and Analysis
8.6. DECOLORIZING AGENTS
8.6.1. Overview
8.6.2. Decolorizing agents Market Forecast and Analysis
8.7. RESINS
8.7.1. Overview
8.7.2. Resins Market Forecast and Analysis
8.8. FUNGICIDES
8.8.1. Overview
8.8.2. Fungicides Market Forecast and Analysis
8.9.
8.9.1. Overview
8.9.2. Market Forecast and Analysis
9. FURFURAL MARKET - REVENUE AND FORECASTS TO 2028 - CATALYST TYPE
9.1. OVERVIEW
9.2. CATALYST TYPE MARKET FORECASTS AND ANALYSIS
9.3. SOLID ACID TYPE CATALYST
9.3.1. Overview
9.3.2. Solid acid type catalyst Market Forecast and Analysis
9.3.3. Zeolite catalyst Market
9.3.3.1. Overview
9.3.3.2. Zeolite catalyst Market Forecast and Analysis
9.4. LIQUID ACID TYPE CATALYST
9.4.1. Overview
9.4.2. Liquid acid type catalyst Market Forecast and Analysis
9.4.3. Lewis acids Market
9.4.3.1. Overview
9.4.3.2. Lewis acids Market Forecast and Analysis
9.4.4. Bronsted acids Market
9.4.4.1. Overview
9.4.4.2. Bronsted acids Market Forecast and Analysis
9.5.
9.5.1. Overview
9.5.2. Market Forecast and Analysis
10. FURFURAL MARKET - REVENUE AND FORECASTS TO 2028 - END USER INDUSTRY
10.1. OVERVIEW
10.2. END USER INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. AGROCHEMICAL INDUSTRY
10.3.1. Overview
10.3.2. Agrochemical Industry Market Forecast and Analysis
10.4. PHARMACEUTICAL & MEDICAL INDUSTRY
10.4.1. Overview
10.4.2. Pharmaceutical & Medical Industry Market Forecast and Analysis
10.5. LUBRICANTS INDUSTRY
10.5.1. Overview
10.5.2. Lubricants Industry Market Forecast and Analysis
10.6. CEMENTS INDUSTRY
10.6.1. Overview
10.6.2. Cements Industry Market Forecast and Analysis
10.7. ENERGY INDUSTRY
10.7.1. Overview
10.7.2. Energy Industry Market Forecast and Analysis
10.8. ADHESIVES INDUSTRY
10.8.1. Overview
10.8.2. Adhesives Industry Market Forecast and Analysis
10.9. COATINGS INDUSTRY
10.9.1. Overview
10.9.2. Coatings Industry Market Forecast and Analysis
10.10. FOOD & BEVERAGES INDUSTRY
10.10.1. Overview
10.10.2. Food & beverages Industry Market Forecast and Analysis
10.11. OTHERS
10.11.1. Overview
10.11.2. Others Market Forecast and Analysis
11. FURFURAL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Furfural Market Overview
11.1.2 North America Furfural Market Forecasts and Analysis
11.1.3 North America Furfural Market Forecasts and Analysis - By Raw Material
11.1.4 North America Furfural Market Forecasts and Analysis - By Application
11.1.5 North America Furfural Market Forecasts and Analysis - By Catalyst Type
11.1.6 North America Furfural Market Forecasts and Analysis - By End User Industry
11.1.7 North America Furfural Market Forecasts and Analysis - By Countries
11.1.7.1 United States Furfural Market
11.1.7.1.1 United States Furfural Market by Raw Material
11.1.7.1.2 United States Furfural Market by Application
11.1.7.1.3 United States Furfural Market by Catalyst Type
11.1.7.1.4 United States Furfural Market by End User Industry
11.1.7.2 Canada Furfural Market
11.1.7.2.1 Canada Furfural Market by Raw Material
11.1.7.2.2 Canada Furfural Market by Application
11.1.7.2.3 Canada Furfural Market by Catalyst Type
11.1.7.2.4 Canada Furfural Market by End User Industry
11.1.7.3 Mexico Furfural Market
11.1.7.3.1 Mexico Furfural Market by Raw Material
11.1.7.3.2 Mexico Furfural Market by Application
11.1.7.3.3 Mexico Furfural Market by Catalyst Type
11.1.7.3.4 Mexico Furfural Market by End User Industry
11.2. EUROPE
11.2.1 Europe Furfural Market Overview
11.2.2 Europe Furfural Market Forecasts and Analysis
11.2.3 Europe Furfural Market Forecasts and Analysis - By Raw Material
11.2.4 Europe Furfural Market Forecasts and Analysis - By Application
11.2.5 Europe Furfural Market Forecasts and Analysis - By Catalyst Type
11.2.6 Europe Furfural Market Forecasts and Analysis - By End User Industry
11.2.7 Europe Furfural Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Furfural Market
11.2.7.1.1 Germany Furfural Market by Raw Material
11.2.7.1.2 Germany Furfural Market by Application
11.2.7.1.3 Germany Furfural Market by Catalyst Type
11.2.7.1.4 Germany Furfural Market by End User Industry
11.2.7.2 France Furfural Market
11.2.7.2.1 France Furfural Market by Raw Material
11.2.7.2.2 France Furfural Market by Application
11.2.7.2.3 France Furfural Market by Catalyst Type
11.2.7.2.4 France Furfural Market by End User Industry
11.2.7.3 Italy Furfural Market
11.2.7.3.1 Italy Furfural Market by Raw Material
11.2.7.3.2 Italy Furfural Market by Application
11.2.7.3.3 Italy Furfural Market by Catalyst Type
11.2.7.3.4 Italy Furfural Market by End User Industry
11.2.7.4 United Kingdom Furfural Market
11.2.7.4.1 United Kingdom Furfural Market by Raw Material
11.2.7.4.2 United Kingdom Furfural Market by Application
11.2.7.4.3 United Kingdom Furfural Market by Catalyst Type
11.2.7.4.4 United Kingdom Furfural Market by End User Industry
11.2.7.5 Russia Furfural Market
11.2.7.5.1 Russia Furfural Market by Raw Material
11.2.7.5.2 Russia Furfural Market by Application
11.2.7.5.3 Russia Furfural Market by Catalyst Type
11.2.7.5.4 Russia Furfural Market by End User Industry
11.2.7.6 Rest of Europe Furfural Market
11.2.7.6.1 Rest of Europe Furfural Market by Raw Material
11.2.7.6.2 Rest of Europe Furfural Market by Application
11.2.7.6.3 Rest of Europe Furfural Market by Catalyst Type
11.2.7.6.4 Rest of Europe Furfural Market by End User Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Furfural Market Overview
11.3.2 Asia-Pacific Furfural Market Forecasts and Analysis
11.3.3 Asia-Pacific Furfural Market Forecasts and Analysis - By Raw Material
11.3.4 Asia-Pacific Furfural Market Forecasts and Analysis - By Application
11.3.5 Asia-Pacific Furfural Market Forecasts and Analysis - By Catalyst Type
11.3.6 Asia-Pacific Furfural Market Forecasts and Analysis - By End User Industry
11.3.7 Asia-Pacific Furfural Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Furfural Market
11.3.7.1.1 Australia Furfural Market by Raw Material
11.3.7.1.2 Australia Furfural Market by Application
11.3.7.1.3 Australia Furfural Market by Catalyst Type
11.3.7.1.4 Australia Furfural Market by End User Industry
11.3.7.2 China Furfural Market
11.3.7.2.1 China Furfural Market by Raw Material
11.3.7.2.2 China Furfural Market by Application
11.3.7.2.3 China Furfural Market by Catalyst Type
11.3.7.2.4 China Furfural Market by End User Industry
11.3.7.3 India Furfural Market
11.3.7.3.1 India Furfural Market by Raw Material
11.3.7.3.2 India Furfural Market by Application
11.3.7.3.3 India Furfural Market by Catalyst Type
11.3.7.3.4 India Furfural Market by End User Industry
11.3.7.4 Japan Furfural Market
11.3.7.4.1 Japan Furfural Market by Raw Material
11.3.7.4.2 Japan Furfural Market by Application
11.3.7.4.3 Japan Furfural Market by Catalyst Type
11.3.7.4.4 Japan Furfural Market by End User Industry
11.3.7.5 South Korea Furfural Market
11.3.7.5.1 South Korea Furfural Market by Raw Material
11.3.7.5.2 South Korea Furfural Market by Application
11.3.7.5.3 South Korea Furfural Market by Catalyst Type
11.3.7.5.4 South Korea Furfural Market by End User Industry
11.3.7.6 Rest of Asia-Pacific Furfural Market
11.3.7.6.1 Rest of Asia-Pacific Furfural Market by Raw Material
11.3.7.6.2 Rest of Asia-Pacific Furfural Market by Application
11.3.7.6.3 Rest of Asia-Pacific Furfural Market by Catalyst Type
11.3.7.6.4 Rest of Asia-Pacific Furfural Market by End User Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Furfural Market Overview
11.4.2 Middle East and Africa Furfural Market Forecasts and Analysis
11.4.3 Middle East and Africa Furfural Market Forecasts and Analysis - By Raw Material
11.4.4 Middle East and Africa Furfural Market Forecasts and Analysis - By Application
11.4.5 Middle East and Africa Furfural Market Forecasts and Analysis - By Catalyst Type
11.4.6 Middle East and Africa Furfural Market Forecasts and Analysis - By End User Industry
11.4.7 Middle East and Africa Furfural Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Furfural Market
11.4.7.1.1 South Africa Furfural Market by Raw Material
11.4.7.1.2 South Africa Furfural Market by Application
11.4.7.1.3 South Africa Furfural Market by Catalyst Type
11.4.7.1.4 South Africa Furfural Market by End User Industry
11.4.7.2 Saudi Arabia Furfural Market
11.4.7.2.1 Saudi Arabia Furfural Market by Raw Material
11.4.7.2.2 Saudi Arabia Furfural Market by Application
11.4.7.2.3 Saudi Arabia Furfural Market by Catalyst Type
11.4.7.2.4 Saudi Arabia Furfural Market by End User Industry
11.4.7.3 U.A.E Furfural Market
11.4.7.3.1 U.A.E Furfural Market by Raw Material
11.4.7.3.2 U.A.E Furfural Market by Application
11.4.7.3.3 U.A.E Furfural Market by Catalyst Type
11.4.7.3.4 U.A.E Furfural Market by End User Industry
11.4.7.4 Rest of Middle East and Africa Furfural Market
11.4.7.4.1 Rest of Middle East and Africa Furfural Market by Raw Material
11.4.7.4.2 Rest of Middle East and Africa Furfural Market by Application
11.4.7.4.3 Rest of Middle East and Africa Furfural Market by Catalyst Type
11.4.7.4.4 Rest of Middle East and Africa Furfural Market by End User Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Furfural Market Overview
11.5.2 South and Central America Furfural Market Forecasts and Analysis
11.5.3 South and Central America Furfural Market Forecasts and Analysis - By Raw Material
11.5.4 South and Central America Furfural Market Forecasts and Analysis - By Application
11.5.5 South and Central America Furfural Market Forecasts and Analysis - By Catalyst Type
11.5.6 South and Central America Furfural Market Forecasts and Analysis - By End User Industry
11.5.7 South and Central America Furfural Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Furfural Market
11.5.7.1.1 Brazil Furfural Market by Raw Material
11.5.7.1.2 Brazil Furfural Market by Application
11.5.7.1.3 Brazil Furfural Market by Catalyst Type
11.5.7.1.4 Brazil Furfural Market by End User Industry
11.5.7.2 Argentina Furfural Market
11.5.7.2.1 Argentina Furfural Market by Raw Material
11.5.7.2.2 Argentina Furfural Market by Application
11.5.7.2.3 Argentina Furfural Market by Catalyst Type
11.5.7.2.4 Argentina Furfural Market by End User Industry
11.5.7.3 Rest of South and Central America Furfural Market
11.5.7.3.1 Rest of South and Central America Furfural Market by Raw Material
11.5.7.3.2 Rest of South and Central America Furfural Market by Application
11.5.7.3.3 Rest of South and Central America Furfural Market by Catalyst Type
11.5.7.3.4 Rest of South and Central America Furfural Market by End User Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. FURFURAL MARKET, KEY COMPANY PROFILES
13.1. ARCOY
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. AURUS SPECIALITY COMPANY
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. BEHRAN OIL CO.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CENTRAL ROMANA CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. ILLOVO SUGAR AFRICA (PTY) LTD
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. INTERNATIONAL FURAN CHEMICALS B.V.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. LENZING AG
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. PENNAKEM, LLC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SILVATEAM S.P.A.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. TRANSFURANS CHEMICALS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Arcoy
2. Aurus Speciality Company
3. Behran Oil Co.
4. Central Romana Corporation
5. ILLOVO SUGAR AFRICA (PTY) LTD
6. International Furan Chemicals B.V.
7. LENZING AG
8. Pennakem, LLC
9. Silvateam S.p.a.
10. TransFurans Chemicals
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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