5-Hydroxymethylfurfural Market Revenue to close at USD 66.6 Million by 2026
Posted On July 16, 2020
The Global 5-Hydroxymethylfurfural Market value is expected to grow by an impressive 1.5% of CAGR during the forecast period of 2020 to 2026. The market was valued approximately at USD 60 million in 2019 and can grow to USD 66.6 Million by 2026 as per the report by Value Market Research. 5-Hydroxymethylfurfural is an organic compound (Formula: C₆H₆O, Molecular Weight: 126.11, CAS Number: 67-47-0). The molecule is formed by dehydration of some sugars and includes a furan ring with both alcohol and aldehyde functional groups. 5-Hydroxymethylfurfural is a white coloured solid, highly soluble in water and organic solvents. It is available in two categories, Industrial grade, and food grade. It is mainly used in the food industry as an additive and a flavouring agent. It is also applicable in bio plastic and as an active pharmaceutical ingredient (API). 5-Hydroxymethylfurfural is used as a carbon-neutral feedstock for the production of certain chemicals and fuels. Furthermore, 5-Hydroxymethylfurfural is widely used in laboratories for research purposes.
A wide range of applications of 5-Hydroxymethylfurfural across various industrial sectors is driving the global market. The significant factors that are driving the global 5-Hydroxymethylfurfural market include growing food and beverages industry, growing science research activities, increasing usage of 5-Hydroxymethylfurfural in pharmaceutical industries, and growing adoption for bio plastics. During the COVID-19 pandemic, the global 5-Hydroxymethylfurfural market may experience some restraints owing to disrupted supply chain, decreased production in many industries, and standstill research activities in closed labs.
The geographical and segmentation study covered in the report "Global 5-Hydroxymethylfurfural Market Report By Type (Industrial Grade, Food Grade), By Application (Flavour and Fragrance Industry, Pharmaceutical Industry, Others), And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026" helps in understanding the upcoming trends of the market. The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future.
On the basis of type the 5-Hydroxymethylfurfural market is segmented into industrial grade, food grade. By application the market is segmented into flavour and fragrance industry, pharmaceutical industry and others.
Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment thus, providing valuable data to take strategic decisions.
The Report Segments Global 5-Hydroxymethylfurfural Market -
- Industrial Grade
- Food Grade
- Flavor and Fragrance Industry
- Pharmaceutical Industry
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
AVA Biochem, Robinson Brothers, Penta Manufacturer, NBB Company, Treatt.
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