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Global Furfural Market Projected to Grow at a CAGR of 4.8 % by 2026 – Axiom MRC
Furfural Market - Axiom MRC
The report analyses the global furfural market based on raw material, application, end user and geography. Various raw material studied are segmented into reduced sugarcane basses, corncob, rice husk, others. Various application studied include furfural alcohol, solvents, intermediates, others. Furthermore, the major application considered in the study is paints & coatings, agriculture, pharmaceuticals, food & beverage, refineries, polymers
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Segmental Overview:
• Corncob is popular raw material for furfural production, thus dominating the market. Its growth is attributed by maximum yield and large availability along with by product which can be used as a source of renewable energy
• Furfuryl alcohol is the largest application owing to extensive use for producing furan resin having application in sand foundry binder
• Agriculture is a major end user segment for furfural market owing to furfural extensive application as fungicide, nematicide and insecticide owing to ease of application and harmlessness. It is also used as a weed killer for horticulture
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Regional Trends:
• Asia Pacific led by China and India is a major consumer of furfural
• Huge investments in renewable resources development supported by growing need to reduce dependency on depleting petrochemicals sources is a key regional driving factor
• China accounts for high production volume for furfural owing to increase in end user industry applications including food & beverage, agriculture, pharmaceutical and refinery
• Ample availability of raw materials in this region owing to highly developed agriculture sector generating large scale yield will further boost regional market growth
Key competitor Analysis:
The key players in the furfural market share are Pennakem, Illovo Sugar Africa, Lenzing, Transfurans Chemicals, Silvateam, Hongye Holding Group Corporation, KRBL, TCI Chemicals, Laxmi Furals Private Limited, International Furan Technology, Furnova Polymers, Aurus Specialty Chemicals, Zhucheng Taisheng Chemical. Companies are focusing on technical development in production process for higher yield which might help in combating low yield process challenges
Our Other Related Reports:
Green Polyols Market Report:
https://axiommrc.com/product/10023-Green-Polyols-Market-Report
Green Coatings Market Report:
https://axiommrc.com/product/1694-green-coatings-market-report
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Axiom Market Research & Consulting™ is a full-service market research and data analytics company providing key market intelligence to global companies to take informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.
Axiom Market Research & Consulting™ offers market research services such as syndicated market research, custom market research, business consulting, and consumer/end user surveys. Under Business to Consumer (B2C) market research offerings, Axiom MRC assists its clients in finding quantitative information/preferences of its brands and services such as, awareness, usages, satisfaction, tracking, ethnicity etc. Axiom MRC offers data collection services through online surveys, social media, data processing and interpretation.
Axiom MRC with its experienced team of research and data analysts, has delivered more than 700+ Market Research Projects, 2100+ Data Analytics Projects, 260+ Business Support Projects and has a 400+ Global Client Base. Axiom Market Research & Consulting™ aims to become the preferred market research and data analytics company by providing key market intelligence solutions for client’s business growth.
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