Global 5-Chloromethyl Furfural Market Share, Emerging Trends, Major Players, Analysis and Forecast to 2030

Global 5-chloromethyl furfural market is projected to be driven by growing demand for paraxylene, and purified terephthalic acid (PTA) as precursors for polyethylene terephthalate production. Currently, 5-chloromethyl furfural is gaining traction in biorefinery industry as versatile bio-platform molecule and an efficient alternative to 5-(hydroxymethyl) furfural (HMF). As 5-chloromethyl furfural can be produced in high yields compared to 5-(hydroxymethyl) furfural, the product has emerged as a disruptive innovation in biorefinery sector. However, the 5-chloromethyl furfural application in biorefinery sector is still in nascent phase and is projected to bode well in overall growth of bio-platform chemical markets in near future. Moreover, the product is being widely used in various chemistries which includes production of paraxylene, purified terephthalic acid (PTA), polyethylene terephthalate (PET), furandicarboxylic acid (FDCA), etc. Among these chemicals, high consumption of polyethylene terephthalate (PET) for food and non-food packaging applications amid COVID-19 pandemic emerged as the major driver for 5-chloromethyl furfural market growth in 2020. This growth was attributed to upsurge in demand for sanitizer bottles and e-commerce packaging. Also, consumer notion towards reducing virus exposure by using single use plastic (SUPs) products such as plastic bags, containers, bottles, lids, straws, etc. highly contributed in driving the production of polyethylene terephthalate (PET) which subsequently increased the demand for 5-chloromethyl furfural market in 2020.

In terms of revenue, 5-chloromethyl furfural market is anticipated to grow at a CAGR of 5.76% over the forecast period (2022 - 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

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Growing trend of decarbonization has positively influenced the product demand, as various industry participants are involved in developing carbon neutral products. For instance, Origin Materials is actively engaged in development of 5-chloromethyl furfural from C5 sugars, which is intended to reduce carbon emissions. Following such scenario, the company published lifecycle assessment report which claims that each kilogram of 5-chloromethyl furfural has effect of removing 1.21 kilogram of CO2 from the environment. In addition, successive R&D activities to develop carbon negative polyethylene terephthalate bottles have been sought by various industry participants which are inclined towards decarbonizing ecosystem. Thus, increasing product demand as an efficient carbon mitigating option along with growing number of decarbonizing directives across the globe is projected to foster 5-chloromethyl furfural market growth in the foreseeable future.

The industry was negatively impacted for short term during the COVID-19 pandemic. Supply chain disruption causing shortage of labour and feedstock influenced the demand for 5-chloromethyl furfural market. Brief repositioning of industry participants engaged in production of bio-platform based products including 5-chloromethyl furfural generated demand uncertainty by suspending production activities for short term. However, increasing demand for food packaging along with growth in e-commerce amid pandemic stabilized the product demand which subsequently drove 5-chloromethyl furfural market growth at a steady pace in 2020.

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Some of the Key Players Operating in the Global 5-Chloromethyl Furfural Market include:
Biosynth Carbosynth
BLDpharm
Chemenu Inc.
Cymit Química S.L.
Dayang Chem (Hangzhou) Co., Ltd.
J&H CHEM Co., Ltd.
LEAP CHEM Co., Ltd.
Origin Materials
Shenxian Shuiyuan New Energy Technology Co.,Ltd.
Toronto Research Chemicals
United States Biological
Other Market Participants

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Key Insights of the Report:
The report provides key statistics on the market status of the 5-Chloromethyl Furfural manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The report presents the company profile, product specifications, capacity, production value, and 2022-2030 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2022-2030 market development trends of 5-Chloromethyl Furfural industry.
Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
The report makes some important proposals for a new project of 5-Chloromethyl Furfural Industry before evaluating its feasibility.

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Global 5-Chloromethyl Furfural Market Segmentation:

By Application
Para-xylene
Purified Terephthalic Acid (PTA)
Polyethylene Terephthalate (PET)
Furandicarboxylic Acid (FDCA)
Others

By Purity
95%
96%
98%
Others

By Distribution Channel
Direct
Indirect

By End-Use Industry
Packaging
Building & Construction
Automotive
Electrical & Electronics
Medical
Agriculture
Others

By Geography
North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]

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