Latin America Furfural Market Size, Share, Growth, Trends, Competitive Landscape, Revenue, Forecast Analysis 2022

Precision Business Insights published a research report on "Latin America Furfural Market: By Raw Materials (Lignocellulosic Feedstock and Agricultural Raw Materials), By Catalyst Type (Solid Acid Type Catalyst and Liquid Acid Type Catalyst), Application (Solvents, Resins, Gasoline Additives, Fungicides, Flavor Enhancers, Decolorizing Agents and Agricultural Raw Materials), By End User (Agrochemical Industry, Pharmaceutical and Medical Industry, Lubricants Industry, Cements Industry, Energy Industry, Adhesives Industry, Coatings Industry, Food and Beverages Industry and Others) - Global/Region/Country Forecast to 2028".

Furfural (C4H3OCHO) is a naturally occurring chemical that is produced from the hemicellulose fraction of lignocellulosic biomass by dehydrating carbon sugars. It's a versatile chemical that's commonly used as a raw ingredient in the production of phenol-furfural resins. Furfuryl alcohol, tetrahydrofurfuryl alcohol (THFA), tetrahydrofuran, furan, and diols can all be made from it. Furfuryl alcohol, for example, is widely used as a flavouring agent as well as filler in the production of paints, textiles, as well as plastics around the world, which has a favourable impact on their overall sales.

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Furfural manufacturing produces a number of important industrial chemicals, such as furfural alcohol, THF, maleic acid, MTHF, 1, 5pentanediol, and others. The majority of these derivatives have a variety of pharmacological uses. As an intermediate, (2S)-phenyl-3piperidone is used in some drugs. Furfural derivatives are also utilised in the production of insecticides, nematicides, and fungicides for agriculture. Because the global demand for food is expanding at an exponential rate, agricultural operations have been ramped up all over the world. Furfural derivatives have seen an increase in demand as a result of this factor. The COVID-19 pandemic, on the other hand, has had a significant detrimental impact on the furfural industry. It has put both production and global supply systems at jeopardy. As a result, carrying out routine commercial activity has become incredibly difficult. Even though, numerous significant advances in furfural processing methodologies in contexts of solvent processes, catalytic properties, reaction parameters, and so on, to achieve higher yields, improved quality and quantity of production, and optimise extraction parameters such as time, temperature, and so on, are expected to have a positive impact on the global furfural market revenue growth during the forecast period.

In terms of raw material, the Latin America furfural market is fragmented into rice hulls, corncobs, cotton hulls, sugar cane bagasse and others. In terms of application, the Latin America furfural market is categorized into flavour enhancers, solvents, decolorizing agents, gasoline additives, fungicides, intermediates in adhesives and sealants. In terms of catalyst, the furfural market is classified into liquid acid type and solid acid type. In terms of end-user industry, the Latin America furfural market is divided into agrochemical industry, chemical industry, oil and gas industry, pharmaceutical and medical industry, automotive and transportation industry, furfurals and polymer industry, manufacturing industry, food and beverages industry, fertilizer industry and others.

Due to the presence of significant furfural manufacturers, fast urbanisation, and growing demand for furfural, particularly from the chemical and foundry industries, Asia-Pacific currently dominates the furfural market and will remain to do so during the projection period. Because of the spike in demand for furfural in numerous applications, Europe will continue to have the greatest CAGR for this time.

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Some of the major key players in the Latin America Furfural Market are International Furan Chemicals B.V. (The Netherlands) Zibo Xinye Chemical Co., Ltd. (China) Zhucheng Taisheng Chemical Co., Ltd. (China) Transfurans Chemicals bvba (Belgium) Tanin Sevnica d.d. (Slovenia) Silvateam S.p.a. (Italy) NC-Nature Chemicals Dr. Kruppa GmbH (Germany) Lenzing AG (Austria) Hongye Holding Group Corporation Limited (China)

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