Furfural Derivatives Market to Reach US$ 2.56 Billion with Growing at CAGR 5.2% to 2026| BASF SE, Hongye Chemical, Corbion NV, Penn A Kem, Ashland, Nova Molecular technologies, International Process Plants

Global Furfural Derivatives Market is accounted for $1.62 billion in 2017 and is expected to reach $2.56 billion by 2026 growing at a CAGR of 5.2% during the forecast period. Growing demand for pharmaceutical industry, increasing usage of derivatives food and beverage sector, demand for bio-based products and rising awareness among consumers are some of the factors driving the market growth. However, environmental issues are hindering the market growth.

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Furfural is a solvent formed by the acid hydrolysis of pentosan, which are present in biomasses such as bagasse, corn cobs, rice hulls, and oats hulls. It can be shaped by using easily available raw materials in large quantities. Furfural derivatives have gained impetus as possible chemicals for the manufacture of biochemical and biofuels. It is the most frequently produced industrial chemical.

Top Industry Players:
Some of the key players profiled in the Furfural Derivatives Market include BASF SE, Hongye Chemical, Corbion NV, Penn A Kem LLC, Ashland, Inc., Avantium, DynaChem Inc., Nova Molecular technologies, International Process Plants, TransFurans Chemicals, International Furan Chemicals, Shenzhen Shu Hang Industrial Development, SolvChem, NeuChem Inc., Ideal Chemical & Supply Company and Novasynorganics.

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Based on End User, plastics segment is anticipated to rise during the forecast period due to the increasing implementation of polymers and rising usage of agrochemical and plastic industries in developing economies. By geography, Asia Pacific is predicted to grow with the largest market share during the forecast period and the growth of this region can be attributed to the rapid growth of pharmaceuticals industries and rise in industrialization in countries such as India and China.
Products Covered:
• Furoic Acid
• Tetrahydrofurfuryl Alcohol (THFA)
• 2, 5-Furandicarboxylic Acid (FDCA)
• Furfuryl Alcohol
• Other Products

End Users Covered:
• Agriculture
• Agrochemicals
• Food & Beverages
• Industrial Chemicals
• Paints And Coatings
• Pharmaceuticals
• Plastics
• Refineries
• Resins
• Pesticides
• Other End Users

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This release was published on openPR.