The Global Furfural Market is forecasted to grow at a rate of 4.7% from USD 551.3 Million in 2019 to USD 793.3 Million in 2027. Furfural is used in the production of furfuryl alcohol. It is used in the industrial production by the catalytic hydrogenation of Furfural in high temperature. It is also applicable in resins and plastic. The advancement in research activities in the rocket fuel is also propelling the market demand.
Top Companies Operating in the Global Furfural Market:
Pennakem, Lenzing, Central Romana Corporation, Illovo Sugar Africa, Transfurans Chemicals, Hongye Holding Group Corporation, Silvateam, Shandong Crownchem Industries Limited, KRBL, and Laxmi Furals Private Limited
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The Furfural market investigation report assesses the global market for the Furfural industry and provides revenue and capability forecasts for the projected period of 2027. The factors that drive the industry's growth are highlighted in the report. The report divides the Furfural market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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Furfural Market Segmentation
Raw Material Outlook (Revenue, USD Million; 2017-2027)
- Sugarcane Bagasse
- Rice Husk
- Corncob
- Sunflower Hull
- Others
Application Outlook (Revenue, USD Million; 2017-2027)
- Solvent
- Furfural alcohol
- Intermediate
- Others
End-User Outlook (Revenue, USD Million; 2017-2027)
- Agriculture
- Pharmaceuticals
- Paints Coatings
- Refineries
- Food Beverage
- Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Furfural market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Furfural market.
The global Furfural market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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