Furfural Market Analysis And Forecast By Key Manufacturers, Product, Application

Posted by rohit on February 22nd, 2022

Market Overview

Furfural is an organic compound derived from plant materials such as corncobs, oat, wheat bran, rice husk, bagasse, and saw dust. It is usually produced from agricultural wastes rich in pentosans that are hydroysed to produce furfural and its byproducts. Furfural is a colorless oil that readily dissolves in various organic solvents and is slightly soluble in water. It exhibits chemically similar properties as that of other aldehydes and aromatic compounds. It can be readily hydrogenated to tetrahydrofurans derivatives, which when are heated with acids results into solidified polymer or thermosetting polymer. Hence, it is commercially considered as a renewable, non-petroleum based chemical feedstock.

Request Copy Of This Business Report:https://www.coherentmarketinsights.com/market-insight/furfural-market-321

Market Dynamics

Increasing inclination of the populace towards renewable energy to replace fossil resources is a major factor driving growth of the furfural market. Due to its key attributes of thermosetting properties, physical strength, and corrosion resistance, furfural has emerged as an immediate alternative to furan-based chemicals. Also, it is derived from abundantly available biomass, which makes it a highly preferred biomass-based chemical. Furfural is mainly used to produce furfuryl alcohol, which is widely used in manufacturing polymers, textiles, and construction materials. The raw materials for furfural production are the agricultural wastes which are widely available in the Asia-Pacific region, especially in China, India, Indonesia, and Malaysia. The abundant availability of raw materials and low cost labor available in these countries is another factor driving the furfural market in Asia Pacific. Hence, it is also widely used in production of agricultural formulations such as herbicides, pesticides, fungicides, and other synthetic chemical compounds. 

Global Furfural Taxonomy

The global furfural market is classified on the basis of the following segments:

• By application

  • Furfural alcohol

    Solvents

    Others

• By raw materials

  • Corn cob

    Rice husk

    Bagasse

    Others

• By end-use industry

  • Petroleum

    Agriculture

    Paints & coatings

    Pharmaceutical

    Others

• The global furfural market is highly fragmented due to the presence of many established and local players across the world. Major players involved in the market include Hongye Holding Group Corporation Ltd., Arcoy Biorefinery Pvt. Ltd., Corporation, Ltd., Central Romana, KRBL Ltd., Illovo Sugar Ltd., Lenzing AG, Penn A Kem LLC, Tanin Sevnica d.d., Linzi Organic Chemicals Inc. Ltd., Tieling North Furfural (Group) Co., Ltd., Silvateam S.p.A., and Xingtai Chunlei Furfuryl Alcohol Co., Ltd.

  
  About Coherent Market Insights:-
  
  Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:

Name: Mr. Shah

Phone: US +12067016702 / UK +4402081334027

Email: sales@coherentmarketinsights.com

Visit Our Blogs:https://blog.coherentmarketinsights.com