The global Furfural market is forecasted to reach USD 793.3 Million by 2027, according to a new report by Reports and Data. Growing demand for the market is due to the rise in demand for green chemicals. An increase in concern for the environment and shift to renewable alternatives to replace fossil fuels will propel the growth of the industry. The growing demand in the pharmaceutical sectors will also propel the demand for the product.

The driving factor of the market is the stringent regulations with regards to the air pollution standards. The market products are extracted from the lignocellulosic and agricultural feedstock. The adhesives segment is witnessing increased demand due to its usage in the automotive industry as weight-reducing components. Moreover, the demand for non-toxic Furfural in petroleum refineries is also encouraging the growth of the market. High demand from the food and beverage industries is also supporting market demand.

Top Companies Operating in the Global Furfural Market:

Pennakem, Lenzing, Central Romana Corporation, Illovo Sugar Africa, Transfurans Chemicals, Hongye Holding Group Corporation, Silvateam, Shandong Crownchem Industries Limited, KRBL, and Laxmi Furals Private Limited

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Further key findings from the report suggest

• Corncob is the middle part of the maize in which kernels grow. It is used to produce Furfural and has the desired content of hemicellulose. It also offers higher economic value and greater yield as compared to other raw materials.
• Furfuryl alcohol is applicable in thermoset polymer matrix composites, adhesives, cement, casting, coating resins. The segment is forecasted to grow with a CAGR of 4.0% during the forecast period.
• An important organic chemical is Furfural. It has several applications, such as in pharmaceuticals, oil refining, in the manufacture of phenolic resins, and as a bonding agent in abrasive wheels and grinding. It also has been considered an important biomass-derived chemical.
• The construction sector in the Asia Pacific region is among the largest in the globe and growing due to the rise in population, rapid urbanization, and an increase in middle-class income. An increase in construction activities and the emergence of market players is also propelling the demand for the market. The region is forecasted to hold a market share in the year 4.8% in the year 2027.

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Furfural Market Segmentation

Raw Material Outlook (Revenue, USD Million; 2017-2027)

• Sugarcane Bagasse
• Rice Husk
• Corncob
• Sunflower Hull
• Others 

Application Outlook (Revenue, USD Million; 2017-2027)

• Solvent
• Furfural alcohol
• Intermediate
• Others

End-User Outlook (Revenue, USD Million; 2017-2027)

• Agriculture
• Pharmaceuticals
• Paints Coatings
• Refineries
• Food Beverage
• Others

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The Furfural market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Furfural market.

The global Furfural market is segmented into:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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