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Sustainable Solutions: The Growing Demand for Furfuryl Alcohol

Sustainable Solutions: The Growing Demand for Furfuryl Alcohol

The Business Research Company recently released a comprehensive report on the Global Furfuryl Alcohol Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the furfuryl alcohol market size has grown strongly in recent years. It will grow from $0.55 billion in 2023 to $0.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. the growth in the historic period can be attributed to agricultural byproduct availability, increased use of furfuryl alcohol in various industries, increased use of furan resins in various applications, environmental regulation, and economic growth.

the furfuryl alcohol market size is expected to see strong growth in the next few years. It will grow to $0.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. the growth in the forecast period can be attributed to sustainable practices, regulatory support, changes in the availability and cost of raw materials, increasing adoption of green chemistry, and growth in the foundry industry. Major trends in the forecast period include technological advancements, increasing R&D investments, the adoption of green chemistry, supply chain improvements, and consumer preference.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/furfuryl-alcohol-global-market-report

Market Drivers and Trends:

The increasing industrial automation is expected to propel the growth of the fluid pressure sensor market going forward. Industrial automation refers to the use of control systems, such as computers or robots, and information technologies to handle different processes and machinery in an industry to replace human intervention. The rising adoption of industrial automation is due to technological innovation, economic imperatives, competitive pressures, and the need for operational agility and efficiency in a rapidly evolving global marketplace. Fluid pressure sensors are essential components in industrial automation systems, enabling precise control, monitoring, safety assurance, and efficiency optimization in a wide range of industrial applications. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in the manufacturing sector climbed by 12% overall in 2022 to reach 41,624 units. The automotive industry, consisting of US, Canadian, and Mexican businesses, was the top adopter with 20,391 installed units, a 30% rise from 2021. Therefore, increasing industrial automation is driving the growth of the fluid pressure sensors market.

Major companies operating in the furfuryl alcohol market are focusing on developing environmentally friendly resins, such as low-free furfuryl alcohol resins, to enhance sustainability and meet increasing consumer demand for eco-friendly products. Low-free furfuryl alcohol resins minimize emissions by significantly reducing the content of furfuryl alcohol while maintaining comparable casting performance to standard furan resins. For instance, in July 2022, ASK Chemicals, a Germany-based company that offers foundry consumables, introduced MAGNASET technology, a new generation of FNB binders featuring low levels of free furfuryl alcohol and formaldehyde, and improved safety classification (no skull and crossbones label). The casting performance of MAGNASET resins matches that of leading furan resins (free FA: 50-95%) while significantly lowering free FA content to below 40%, potentially reducing furfuryl alcohol emissions.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

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Major Key Players of the Market:

Major companies operating in the furfuryl alcohol market are focusing on developing environmentally friendly resins, such as low-free furfuryl alcohol resins, to enhance sustainability and meet increasing consumer demand for eco-friendly products. Low-free furfuryl alcohol resins minimize emissions by significantly reducing the content of furfuryl alcohol while maintaining comparable casting performance to standard furan resins. For instance, in July 2022, ASK Chemicals, a Germany-based company that offers foundry consumables, introduced MAGNASET technology, a new generation of FNB binders featuring low levels of free furfuryl alcohol and formaldehyde, and improved safety classification (no skull and crossbones label). The casting performance of MAGNASET resins matches that of leading furan resins (free FA: 50-95%) while significantly lowering free FA content to below 40%, potentially reducing furfuryl alcohol emissions.

Furfuryl Alcohol Market 2024 Key Insights:

• The furfuryl alcohol market size is expected to grow to$0.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Furfuryl Alcohol Market Growth Fueled By Rising Demand In Foundries
• Fluid Pressure Sensors Market Focus On Developing Innovative Products For Water Utilities
• Asia-Pacific was the largest region in the furfuryl alcohol market in 2023

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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