Furfuryl Alcohol Market Size, Price Trends, Key Players Analysis and Growth Opportunities 2023-2028

IMARC Group, a leading market research company, has recently released a report titled "Furfuryl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global furfuryl alcohol market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Furfuryl Alcohol Market?

The global furfuryl alcohol market size reached US$ 541.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 807.9 Million by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2023-2028.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐚 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/furfuryl-alcohol-market/requestsample

What is Furfuryl Alcohol?

Furfuryl alcohol is an organic compound and is a colourless liquid with a mild, sweet odour. Furfuryl alcohol is derived from furfural, which is obtained from agricultural waste, such as corn cobs, sugarcane bagasse, or rice husks. It has excellent solvent properties, making it an effective solvent for resins, waxes, and oils. It is also a reactive compound and can undergo polymerization, making it suitable for use in the production of various polymers and resins. Furfuryl alcohol has good heat resistance, low viscosity, and low volatility, making it suitable for high-temperature applications. Furfuryl alcohol is also used as a wetting agent, dispersant, and corrosion inhibitor in coatings and paints. It serves as a building block for the synthesis of various chemicals, such as pharmaceutical intermediates, plasticizers, flavourings, and agricultural chemicals. Furfuryl alcohol is a versatile compound with a wide range of applications in industries, such as foundry, chemicals, paints and coatings, and food and beverages (F&B).

What are the Growth Prospects and Trends in the Furfuryl Alcohol Industry?

The rising product demand in foundry applications represents one of the key factors influencing the market growth of furfuryl alcohol worldwide. In addition to this, furfuryl alcohol is a key raw material for the production of furan resins. Coupled with this, furfuryl alcohol is widely employed as a solvent in coatings and paints, which is propelling the growth of the market. The significant expansion of the construction industry is acting as a major growth-inducing factor. This can be attributed to the extensive utilization of furfuryl alcohol as a key component in resins and binders used in construction materials, which is supporting the market growth. Besides this, furfuryl alcohol is utilized as a building block for the synthesis of pharmaceutical intermediates. This, along with the increasing pharmaceutical industry is contributing to the market growth. Apart from this, the rising demand for flavourings and food additives are leading the market toward growth. In addition to this, significant technological advancements in resin and polymer production are facilitating the demand for furfuryl alcohol as a key ingredient in the production process. The market is also being driven by the application of furfuryl alcohol in the production of wind turbine blades and the growing wind energy sector. Furfuryl alcohol's lightweight nature makes it a desirable component in the production of lightweight materials used in various industries, such as automotive and aerospace, thereby boosting the market growth. Furthermore, furfuryl alcohol is derived from agricultural waste and is considered as a bio-based material and is meeting the increasing consumer and industry demand for environmentally friendly and sustainable alternatives. This, coupled with rising environmental consciousness is driving the market toward growth. Other factors, such as increasing industrialization and manufacturing activities and extensive research and development (R&D) activities, are creating a positive outlook for the market further across the globe.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=3346&method=1

Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Who are the key players operating in the Furfuryl Alcohol Market?

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• DalinYebo
• Furnova Polymers Ltd
• Hebei Xingtai Chunlei Furfuryl Alcohol Co. Ltd.
• Hongye Holding Group Corporation Limited
• Illovo Sugar Africa (PTY) Ltd (Associated British Foods plc (ABF))
• NC Nature Chemicals Dr. Kruppa GmbH
• Pennakem LLC
• Shandong Crownchem Industries Co. Ltd.
• Silvateam S.p.a.
• TransFurans Chemicals bvba
• Xian Welldon Trading Co. Ltd.

What is Included in Market Segmentation?

The report has categorized the market based on application, end use industry and region.

Breakup by Application:
• Resins
• Solvent
• Corrosion Inhibitors
• Others

Based on End Use Industry:
• Foundry
• Agriculture
• Paints and Coatings
• Pharmaceuticals
• Food and Beverages
• Others

Regional Analysis:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 (𝟏𝟎% 𝐅𝐫𝐞𝐞 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧): https://www.imarcgroup.com/request?type=report&id=3346&flag=C

Key Highlights of The Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.