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Furfural Market worth $1,010.31 million by 2030, growing at a CAGR of 4.41% - Exclusive Report by 360iResearch
Furfural Market | 360iResearch
The Global Furfural Market to grow from USD 746.48 million in 2023 to USD 1,010.31 million by 2030, at a CAGR of 4.41%.
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The furfural market encompasses the global production, distribution, and trade of furfural, an organic compound primarily derived from agricultural byproducts such as corncobs, oat hulls, rice husk, bagasse, and sawdust. The increasing investments made in the development of the agriculture sector and the need for fertilizers have increased the demand for furfural products. The surging demand for bio-based plastics and paints enhances the adoption of furfural products. The utilization of furfural as a food flavoring and fragrance in personal care products contributes to the demand for furfural products. However, the complexity of the manufacturing process of furfural products may limit the product demand. The toxic nature of furfural and its adverse effects on human health are also factors of concern for market adoption. The ongoing research to expand the application scope of furfural products and the development of new technologies for production is anticipated to generate significant growth potential for the market.
In the Americas, the United States is a significant furfural market due to its application in producing furfural-alcohol resins used in plastics and as a solvent for the pharmaceutical industry. The Americas region shows an increase in demand for bio-based chemicals, which is expected to drive furfural market growth. In Europe, the focus on sustainable chemicals is very pronounced, with stringent environmental regulations driving the market for furfural. European countries are at the forefront of initiatives for circular economies and reducing carbon footprints within the chemical industry, which supports the growth of the furfural market. The Asia Pacific region has a strong manufacturing and consumer base for furfural products, driven by strong market demand in countries such as China, Japan, and India. The APAC region presents a competitive market with customer purchasing behavior inclined towards sustainable and environmentally friendly products.
Market Segmentation & Coverage:
This research report categorizes the Furfural Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Raw Material, market is studied across Corncobs, Cotton Hulls, Rice Hulls, and Sugarcane Bagasse. The Corncobs is projected to witness significant market share during forecast period.
Based on Process, market is studied across Chinese Batch Process, Quaker Batch Process, and Rosenlew Continuous Process. The Quaker Batch Process is projected to witness significant market share during forecast period.
Based on Application, market is studied across Furfuryl Alcohol, Intermediate, and Solvent. The Furfuryl Alcohol is projected to witness significant market share during forecast period.
Based on End-Use Industry, market is studied across Agriculture, Food & Beverages, Paint & Coatings, Pharmaceuticals, and Refineries. The Food & Beverages is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 42.17% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Furfural Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Furfural Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Furfural Market, highlighting leading vendors and their innovative profiles. These include Associated British Foods PLC, BASF SE, Central Drug House (P) Ltd., Central Romana Corporation, DalinYebo Trading and Development (Pty) Ltd., GoodRich Sugar, Gravitas Chemical, LLC, Hefei TNJ Chemical Industry Co., Ltd., Illovo Sugar Africa (Pty) Ltd., International Furan Chemicals B.V., Jinan Future Chemical Co., Ltd, Junsei Chemical Co.,Ltd, Kanto Chemical Co., Inc., Kishida Chemical Co.,Ltd., KRBL Ltd., Kunshan Odowell Co., Ltd., Lenzing AG, Linzi Organic Chemical Inc. Ltd., Merck KGaA, Origin Materials, Inc., Otto Chemie Pvt. Ltd., Pennakem, LLC, Sappi Group, Silvateam S.p.a., Spectrum Chemical Mfg. Corp., TCI America, Thermo Fisher Scientific, Inc., TransFurans Chemicals bvba, Vigon International, LLC, and Vizag Chemicals International.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Furfural Market, by Raw Material
7. Furfural Market, by Process
8. Furfural Market, by Application
9. Furfural Market, by End-Use Industry
10. Americas Furfural Market
11. Asia-Pacific Furfural Market
12. Europe, Middle East & Africa Furfural Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Furfural Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Furfural Market?
3. What is the competitive strategic window for opportunities in the Furfural Market?
4. What are the technology trends and regulatory frameworks in the Furfural Market?
5. What is the market share of the leading vendors in the Furfural Market?
6. What modes and strategic moves are considered suitable for entering the Furfural Market?
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