Press release
Furfural Market, Industry Share, Growth, Demand, Segmentation and Forecast To 2031
Furfural is majorly used as a solvent in lubrication oils and butadiene extraction. Furfural has wide application in materials such as bricks, ceramics, composites, and fiber glass which are used largely in construction industry. Furthermore, there is increase in demand for sustainable products in construction industry. All these factors are driving the growth of furfural market. The rising industrialization among various countries in the world is leading to an increase in the demand for furfural to a great extent. Furthermore, the demand for chemicals is also expanding at a rapid rate, which are eventually adding value to the growth trajectory of the furfural market.
๐๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.transparencymarketresearch.com/furfural-market.html
Extensive Use of Furfuryl Alcohol in Various Products Contributes to Furfural Market Growth
The furfural market has wide use and applications in end-user industries such as automotive, transportation, electrical, electronics, and construction. Furfural is extensively used in manufacturing furfuryl alcohol by catalytic hydrogenation of furfural under intensive pressure. Furfuryl alcohol is also used in plastics and resins, specialty polymers, surface coatings, adhesives, etc. Furfural is widely used in manufacturing process of tetrahydrofuran (THF), polytetramethylene ether glycol (PTMEG), and 5-methyl furfural. The application and use of furfural in various processes has increased its demand substantially. Therefore, the furfural market is augmented to show promising growth.
๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ | ๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=1057<ype=S
Asia Pacific Dominates Furfural Market in Terms of Volume and Revenue
The furfural market is categorized into regional segments such as Europe, the Asia Pacific, North America, Latin America, and the Middle East and Africa. Countries like India, China, and Japan are leading in production of furfural owing to favorable factors such as increase in disposable incomes, availability of raw materials, and low manufacturing costs. China is a hub for production of bio-based chemicals and major exporter of furfural. In addition, there is a significant growth in metal casting industry. Thus, China holds a major share of furfural market in the Asia Pacific furfural market.
China exports furfural to countries such as Singapore, South Korea, Belgium, and Japan. India has shown considerable growth in the construction industry so there is a vast scope for growth of furfural market there. Europe is projected to show slow growth whereas North America and the Middle East and Africa are likely to expand at a moderate pace. However, Latin America may show sluggish growth.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1057
The competitive landscape of global furfural market is highly fragmented. The major market players are engaged in rigorous R&D activities to introduce new technologies and methods to smoothen and ease the production process. They are focusing on increasing the product range to establish their market presence. The key players are investing in partnerships, mergers and acquisitions, and small ventures to expand the scope of their growth in the furfural market. The leading companies are concentrating on equipping themselves with excellent manufacturing facilities to lead the market. The market leaders are keen on product improvisation and strategic pricing to increase their revenues.
The key market players operating in the global furfural market are Tieling North Furfural (Group) Co., Ltd. Henan Huilong Chemical Co., Ltd.,ย Shandong Crownchem Industries Co.,ย Lenzing AG, Penn A Kem LLC,ย Tanin Senvica d.d., Aurus Specialty Company, and many others.
๐๐ฅ๐ข๐๐ค ๐ ๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1057
Global Furfural Market, by Application
Furfuryl Alcohol
Solvents
Chemical Intermediates
Pharmaceuticals
Others (including Pesticides and Herbicides)
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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