Asia furfuryl alcohol market, 2024-2030

Furfuryl alcohol (FFA), also known as 2-(Hydroxymethyl) furan, is an organic compound having chemical structure, where a furan is substituted with a hydroxymethyl group. This organic compound can be generated from the waste vegetable materials such as corn cobs, oat hulls, cane bagasse, rice husk, and others. This chemical has ubiquitous commercial application such as solvents, foundry resins, adhesives, wetting agents, and so on.

The Asia furfuryl alcohol market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the Asia furfuryl alcohol market is growing at a fast pace and increasing its geographical footprint rapidly. The Asia furfuryl alcohol market is valued at US $ xxx million dollars in 2018 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2023 in value.

China is the largest manufacturer and consumer of furfural alcohol across the globe. In China, furfural alcohol is extensively used as binding agent in metal castings foundries. The expansion in foundry sector in China has promoted the demand for furan resins in the country. The rising demand for relatively environment friendly bioresin based composites for developing automobile components and consumer goods is expected to be the major driving factor for the market growth.

Volatile behavior of the price of feedstock required for production of furan is a restraining factor for the furfuryl alcohol market. Further, accessibility for the agricultural raw materials used for production of FFA is considered to be a prime obstacle for the market growth.

The Asian furfuryl alcohol market has remarkable usage across all major countries in the Asian such as China, Japan, India, Indonesia, and other Asian Countries. Some of the major players in Asian furfuryl alcohol market are Hongye Holding Group Corporation (China), Shandong Crownchem Industries (China), Tieling North Furfuryl alcohol (Group) Co. Ltd., Xingtai Chunlei Furfuryl Alcohol Co. Ltd., and so on.

Research Methodology

At Market Krystal, we believe in a systematic approach towards the problem at hand. The process begins with the identification of a challenge/opportunity, followed by an exhaustive brainstorming by in-house and consulting experts. Based on the outcomes, an in-depth research (primary & secondary) is carried out to collect industry insights. The data is then analysed by a gamut of techniques (Statistics, Machine Learning, Econometrics, and Analytics) to derive inter-disciplinary deductions that are executable and result in value creation. Market Krystal held more than 30 interviews for this study, details of which are mentioned:

By company type:

Manufacturers (40%), Suppliers (20%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By designation:

Top level (40%), Operation level (20%), Mid-level (40%)

Contents of the report:

• Insights on the Asia furfuryl alcohol industry dynamics
• Estimation of the present Asia furfuryl alcohol market size in terms of value and volume
• Asia furfuryl alcohol market breakup based on type and application
• Verified Asia furfuryl alcohol market forecast for the next five years.
• In depth analysis of the leading companies working across different nodes of Asia furfuryl alcohol industry value chain

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