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Industry Insights of Furfural Market Outlook 2018-2025 | Major Players Hongye Holding Group Corporation Ltd., Arcoy Biorefinery Pvt. Ltd., Corporation, Ltd., Central Romana, KRBL Ltd.

09-04-2018 11:57 AM CET | Energy & Environment

Press release from: Coherent Market Insights

Industry Insights of Furfural Market Outlook 2018-2025 | Major

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. Due to these properties, it is widely used in application industries such as petroleum, agriculture, paints & coatings, and pharmaceuticals. Increasing environmental concerns of fossil resources has led to rise in production of renewable alternatives as suitable biomass-based platform chemicals. The U.S. Department of Energy has also selected furfural as one of the top 30 platform chemicals derived from biomass. Furfural production was pioneered in 1921 by the Quaker Oats Company using oat hulls, corncobs, and bagasse. In 2014, around 300 to 700 kilotons of furfural was produced worldwide, of which China contributed a major share. Significant improvements in the production methods of furfural and its increasing incorporation in a wide range of applications have resulted into furfural emerging as a widely used biomass-based chemical.

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Prevalent Scenario in Furfural Market
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. The rising trend of incorporation of natural or bio-based chemicals into pharmaceutical industry has led the manufacturers to invest in technologies to broaden the furfural application into pharmaceutical and cosmetic products. However, inefficient technology resulting in low yields and complex production process of furfural restrains the growth of the market. However, increasing government initiatives for use of bio-chemicals into different applications create opportunities for the furfural manufacturers to invest into research and development of the furfural products and their applications. For instance, the government of Alberta has taken initiatives to link the consumer facing brands with biochemicals and conventional petrochemical industries, which has resulted in increase in investments in the biochemical sector in Alberta. Various research studies are being conducted for low costs production of furfural, though they are not commercially operational processes. Moreover, changing prices of raw materials pose threat to the growth of the market. Asia-Pacific region dominates the furfural market due to abundantly availability of raw materials and rapidly growing infrastructure industry. Europe records for fastest growth rate due to increasing incorporation of bio-based chemicals in petroleum refineries and pharmaceutical industries in the region.

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Fragmented Market
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.

There are Multiple Chapter to display the Global Furfural market some of them As Follow
Chapter 1, Definition, Specifications and Classification of Furfural , Applications of Furfural , Market Segment by Regions;
Chapter 2, Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure;
Chapter 3, Technical Data and Manufacturing Plants Analysis of Furfural , Capacity and Commercial Production Date, Manufacturing Plants Distribution, R&D Status and Technology Source, Raw Materials Sources Analysis;

Chapter 4, Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment);
Chapter 5 and 6, Regional Market Analysis that includes United States, China, Europe, Japan, Korea & Taiwan, Furfural Segment Market Analysis (by Type);
Chapter 7 and 8, The Furfural Segment Market Analysis (by Application) Major Manufacturers Analysis of Furfural ;

Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type Natural preservative, Chemical preservative, Market Trend by Application;
Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis;
Chapter 11, The Consumers Analysis of Global Furfural ;
Chapter 12, Furfural Research Findings and Conclusion, Appendix, methodology and data source;
Chapter 13, 14 and 15, Furfural sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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