According to the research report by Value Market Research, the Global Furfural Market is likely to grow from USD 766.1 Million in 2019 to USD 1,063.7 Million by 2026 with a CAGR of 5.79% during the year 2020-2026.Many factors are contributing to the rising market for furfural. One of the major contributing factors is the stricter enforcement of environmental controls by the government. As the authorities are getting stricter, more and more industries are adopting furfural as their chemical feedstock for different chemicals. The demand for non-volatile organic compound solvents is also on a steady rise. This factor is becoming a major driving force behind the future boom in the market for furfural. Furfural can be locally produced that eliminates the transportation costs and as a result, the future market trends for furfural can be said to be definitely on the rise.
The industry always needs some kind of fuel to operate on and every machinery is dependent on it. The basic definition of furfural is that it is a chemical feedstock and as it is non-petroleum based, it is also renewable. They are widely utilized in industries to produce different chemicals like adhesives, raisins and many more. Since it is renewable, furfural is gaining popularity as a chemical feedstock in many industries that are cutting back on the use of non-renewable chemicals. It can dissolve a variety of substances and hence is being increasingly used for the refining of lubricants.
The "Global Furfural Market Report By Raw Material (Corn Cob, Rice Husk, Sugarcane Bagasse And Others), Application (Furfuryl Alcohol And Solvent), End-User Industry (Petroleum Refineries, Agricultural Formulations, Paints & Coating, Pharmaceuticals And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" provides statistical data on the basis of revenue/or volume as well as qualitative data gathered from reliable sources. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
By raw material the Furfural market is segmented into corn cob, rice husk, sugarcane bagasse and others.
On the basis of application the Furfural market is segmented into furfuryl alcohol and solvent.
On the basis of end-user industry the market is segmented into petroleum refineries, agricultural formulations, paints & coating, pharmaceuticals and others.
By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Furfural is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Furfural Market -
By Raw Material
By End-User Industry
Players Profiled In the Report:
Arcoy Industries Pvt Ltd., Central Romana Corporation Ltd., Hongye Holdings Group Co., Ltd., Illovo Sugar Ltd., Krbl Ltd., Lenzing Ag, Penn A Kem LLC, Silvateam, Tanin Sevnica D.D. and Tieling North Furfural (Group) Co. among others.
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