As per this study the Global Furfuryl Alcohol Market was valued USD XX MN (by revenue) in 2019 and is anticipated to reach USD XX MN by 2026 with a CAGR of XX%.
Furfuryl alcohol is a colorless (appears amber when aged), slightly bitter organic liquid with faint burning odor used extensively as a solvent in rubber, pesticide, and foundry industries. It is also used as fuel for aircraft and rockets. It is generally synthesized by using sugarcane bagasse, corncobs, oats, and rice hulls. Also, naturally furfuryl alcohol is present in pineapple juice, coffee, wine, and other alcoholic beverages.
Rising demand for furan resins from metal casting industry is driving the market growth. Shifting preference towards bio-based fuels owing to volatile crude oil prices is anticipated to spur the market demand in the forecasting period. Also, owing to an excellent wetting agent, furfuryl alcohol has widened its application in cement, paints, and coating, and other industries. In addition to this, rising global concern regarding depletion of fossil fuel is pushing the market demand uphill.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of furfuryl alcohol.
The broad furfuryl alcohol market has been sub-grouped into application and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Chemical Industry
- Metal Industry
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for furfuryl alcohol in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Furfuryl Alcohol Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the furfuryl alcohol market include DynaChem Inc., Hongye Chemical Co., Ltd., NeuChem Inc., Nova Molecular Technologies, Inc., Penn A Kem LLC, Shenzen Shu Hang Industrial Development Co. Ltd and SweetLake Chemical Ltd. among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.