Press release
Furfural Market Set for Strong Growth, Estimated at USD 1,071.85 Million by 2032 with a 6.9% CAGR
๐ ๐ฎ๐ซ๐๐ฎ๐ซ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ:The furfural market was projected to be valued at USD 591.43 million in 2023. The market is anticipated to rise from USD 629.93 million in 2024 to USD 1,071.85 million in 2032 at a compound annual growth rate (CAGR) of 6.9%.
๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
Furfural is a colorless, oily liquid with a chemical formula of C4H3OCHO. It's a renewable organic compound that's used as a solvent in the production of plastics and as a potential biofuel. Furfural is produced by dehydrating sugars from agricultural byproducts like corncobs, oat hulls, and sawdust. The process involves treating the biomass with strong acids. Furfural is used as a solvent in petroleum refining, to produce phenolic resins, plastics, and furan derivatives, and also a potential platform for producing biofuels and biochemicals. Furfural can be toxic if inhaled, absorbed through the skin, or ingested. Exposure to furfural can occur during its production and use, and from the combustion of wood and coal.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/furfural-market/request-for-sample
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐จ๐ฆ๐จ๐ญ๐๐ซ๐ฌ:
โข Since biofuels are made using furfural as a feedstock, the ongoing rise of biofuels is going to promote market growth.
โข The need for biofuels is anticipated to rise as governments worldwide place more emphasis on lowering their reliance on fossil fuels, which will propel the market for furfural to expand.
โข The market is expanding due to its increasing application in agriculture.
โข The market is anticipated to increase as furfural is a raw material used to make a variety of chemicals, including solvents, adhesives, and resins.
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐๐๐ซ๐ค๐๐ญ:
The furfural market is characterized by a diverse set of regional and international rivals fighting for market supremacy through geographic expansion, strategic partnerships, and innovation. Some of the key players in the market are:
โข Illovo Sugar Africa
โข Linzi Organic Chemical
โข TransFurans Chemicals bvba
โข Central Romana Corporation
โข DalinYebo; Hebeichem
โข KRBL
โข Silva team S.p.a
โข LENZING AG
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐ฆ๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐:
https://www.polarismarketresearch.com/industry-analysis/furfural-market/inquire-before-buying
๐ ๐ฎ๐ซ๐๐ฎ๐ซ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:
โข The Chinese batch process is anticipated to grow due to its advantages such as low cost, high efficiency, and the ability to use a wide range of raw materials.
โข The Corn Cob segment accounted for the higher growth rate owing to its benefits such as abundant, renewable, and low-cost feedstock.
โข Furfuryl alcohol is projected to experience a significant growth rate as it is a key derivative of furfuryl and is used in a variety of industrial applications.
โข Refineries segment is anticipated to grow at a higher rate owing to the increasing demand for fuel additives and growing use of furfural in the production of xylene.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
๐ ๐ฎ๐ซ๐๐ฎ๐ซ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐:
๐. ๐๐ฅ๐จ๐๐๐ฅ ๐ ๐ฎ๐ซ๐๐ฎ๐ซ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
1. Furfural - Industry Snapshot
2. Furfural Market Dynamics
1. Drivers and Opportunities
1. Increasing Demand For Furfuryl Alcohol
2. Growth In Foundry Industry
2. Restraints and Challenges
1. Fluctuating Raw Material Prices
3. Porter's Five Forces Analysis
1. Bargaining Power of Suppliers (Moderate)
2. Threats of New Entrants: (Low)
3. Bargaining Power of Buyers (Moderate)
4. Threat of Substitute (Moderate)
5. Rivalry among existing firms (High)
4. PESTLE Analysis
5. Furfural Industry Trends
6. Value Chain Analysis
7. COVID-19 Impact Analysis
๐. ๐๐ฅ๐จ๐๐๐ฅ ๐ ๐ฎ๐ซ๐๐ฎ๐ซ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ, ๐๐ฒ ๐๐ซ๐จ๐๐๐ฌ๐ฌ
1. Key Findings
2. Introduction
1. Global Furfural Market, by Process, 2019-2032 (USD Million)
3. Quaker Batch Process
1. Global Furfural Market, by Quaker Batch Process, by Region, 2019-2032 (USD Million)
4. Chinese Batch Process
1. Global Furfural Market, by Chinese Batch Process, by Region, 2019-2032 (USD Million)
5. Rosenlew Continuous Process
1. Global Furfural Market, by Rosenlew Continuous Process, by Region, 2019-2032 (USD Million)
๐. ๐๐ฅ๐จ๐๐๐ฅ ๐ ๐ฎ๐ซ๐๐ฎ๐ซ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ, ๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
1. Key Findings
2. Introduction
1. Global Furfural Market, by Application, 2019-2032 (USD Million)
3. Furfuryl Alcohol
1. Global Furfural Market, by Furfuryl Alcohol, by Region, 2019-2032 (USD Million)
4. Solvent
1. Global Furfural Market, by Solvent, by Region, 2019-2032 (USD Million)
5. Intermediate
1. Global Furfural Market, by Intermediate, by Region, 2019-2032 (USD Million)
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ก๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/furfural-market/toc
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
โข The segmentation of the market based on the process is done as Chinese batch process, Quaker batch process, and Rosenlew continuous process.
โข Based on raw material, the furfural market is segmented into sugarcane bagasse, corn cob, rice husk, and sunflower hull.
โข Corn cob is predicted to grow at the fastest rate over the forecast period as it is a low-cost feedstock for furfural production, which helps to maintain furfural prices competitive and attractive to manufacturers.
โข The market segmentation based on application is done as a solvent, furfuryl alcohol, and intermediate.
โข In 2022, furfuryl alcohol held the largest market share due to the growing demand for the substance in a variety of applications, including solvents, binders, and resins.
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:.
Chemical Vapor Deposition Market:
https://www.polarismarketresearch.com/industry-analysis/chemical-vapor-deposition-cvd-market
Bio-Plasticizers Market:
https://www.polarismarketresearch.com/industry-analysis/bio-plasticizers-market
Benzene Market:
https://www.polarismarketresearch.com/industry-analysis/benzene-market
Biodegradable Packaging Market:
https://www.polarismarketresearch.com/industry-analysis/biodegradable-packaging-market
Printing Inks Market:
https://www.polarismarketresearch.com/industry-analysis/printing-inks-market
๐๐จ๐ง๐ญ๐๐๐ญ:
Likhil G
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Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
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๐๐๐จ๐ฎ๐ญ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก & ๐๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ , ๐๐ง๐:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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