Furfural Market Sales Status and Forecast Worldwide by Key Manufacturers

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A latest published report on “Furfural Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

The Furfural Market size is estimated to grow from US$ 551 Million in 2019 and to US$ 700 Million by 2024, at a CAGR of 4.9% during the forecast period. This report spread across 101 pages, profiling 11 companies and supported with 112 tables and 27 figures is now available in this research.

Topmost Outstanding Market Players:
Transfuran Chemicals (Belgium)
Central Romana Corporation (Dominican Republic)
Pennakem (US)
Silvateam (Italy)
Illovo Sugar (South Africa)
Hongye Holding Group Corporation (China)
KRBL(India)
Lenzing (Austria)
Tanin (Slovenia)
Shandong Crownchem Industries (China)

“The corncob-based furfural segment is projected to register the highest CAGR during the forecast period.”
Corncob is estimated to be the fastest-growing raw material for the manufacturing of furfural. This is due to the high pentosan content in corncobs, resulting in a high yield of furfural. The majority of the furfural manufacturing plants in the world use corncobs.

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“The derivatives segment is expected to be the largest application of furfural during the forecast period.”
Furfural is majorly used in the manufacturing of furfural-based chemicals. Among the derivatives, furfuryl alcohol accounts for the largest consumption of furfural. This, in turn, is used in the manufacturing of furan resins.Apart from furfuryl alcohol, furfural is also used in the manufacturing of other derivatives such as THF, furoic acid, and tetrahydrofuranyl alcohol (THFA).

“APAC is estimated to be the fastest-growing market during the forecast period.”
APAC is estimated to be the fastest-growing furfural market during the forecast period. The region is the largest producer and consumer of furfural. China led the global market for furfural, and it is projected to continue during the forecast period. China is also the largest manufacturer and exporter of furfural globally. Besides China, the market for furfural is also propelled by countries such as Thailand and India.

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 –60%, Tier 2 – 30%, and Tier 3 – 10%
• By Designation: C level –50%, Director Level – 30%, and Others – 20%
• By Region: Europe – 20%, APAC– 60%,Americas – 10%, Middle East & Africa – 10%

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Report Highlights:
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
• To define, describe, and forecast the market size of furfural, in terms of value and volume
• To provide information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
• To analyze and forecast the market size on the basis of application and raw material
• To forecast the market size of different segments with respect to four regions, namely, APAC, Europe, the Americas, and the Middle East and Africa.
• To forecast the market size of different segments with respect to key countries of each region
• To strategically profile the key players and comprehensively analyze their growth strategies

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This release was published on openPR.