Global Furfural Market, 2024-2030

Furfural (C4H3O-CHO) is one of the furan derivatives formed from the hemicellulosic portion of lignocellulosics. Furfural is a natural dehydration product of xylose, a pentose sugar often found in large quantities in the hemicellulose fraction of lignocellulosic biomass. Furfural is produced from agricultural wastes that contain pentosans that are then hydrolyzed to furfural and other byproducts. The most common raw materials for furfural production include rice husk, corncobs, bagasse from sugarcane processing, and by-product streams from tanning and cellulosic fiber production.

This heterocyclic and aromatic aldehyde consists of a furan ring with an aldehyde side group. It is also known as 2-furancarboxyaldehyde, furaldehyde, 2-furanaldehyde, fural, and furfuraldehyde. Furfural is oily in appearance, has almond-like odor, and is a colorless liquid that turns yellow to dark brown in the presence of air. It dissolves in water to the extent of 8.3 % at 20 °C and is completely miscible with alcohol and ether.

Furfural has been considered as one of the major platform chemicals and used to develop other chemicals. It is an important renewable, non-petroleum based, chemical feedstock. It can be converted into a variety of solvents, polymers, fuels and other useful chemicals by a range of catalytic reductions. Another important solvent made from furfural is methyltetrahydrofuran. Furfural is used to make other furan derivatives, such as furoic acid, via oxidation, and furan itself via palladium catalyzed vapor phase decarbonylation. Furfural itself has many applications, such as oil refining, as a bonding agent in grinding and abrasive wheels, in pharmaceuticals, and the manufacture of phenolic resins.

The global furfural 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 global furfural market is growing at a fast pace and increasing its geographical footprint rapidly. The global furfural market is valued at US $ xxx million dollars in 2019 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2024 in value.

The growth is comparatively higher in Asia Pacific and US region due to huge consumption by end user industry. The major growth driver for furfural market are the growing environmental concerns and the need for minimizing dependence on conventional petrochemicals. Also, in addition emerging novel furfural applications are expected to have a positive influence on the global furfural market growth.

Furfural enjoy wide usage across all major regions in the world including Europe, APAC, North America, Middle East, Africa, and Latin America. These regions serve large number of manufacturers and supplier and are hence responsible for the growth of furfural market globally. The companies that lead global market are Transfuran Chemicals, Central Romana Corporation, Silvateam , Illovo Sugar Ltd., Hongye Holding Group, Lenzing, Shandong Crownchem Industries, Arcoy Biorefinery Pvt. Ltd., Corporation, Ltd., Penn A Kem LLC, Tanin Sevnica d. d., Linzi Organic Chemicals Inc. Ltd., Tieling North Furfural (Group) Co., Ltd., and Xingtai Chunlei Furfuryl Alcohol Co., Ltd.

Research Methodology

The research process includes the market segmentation of the global furfural market, identifying the growth determinants of every market segment and market forecasts. All the market forecasts are done in accordance with the inputs taken from the global furfural market industry experts from across the global industry. Market Krystal conducts more than 40 interview hours dedicated for this study, the same are mentioned below:

By company type:

Manufacturers (35%), Suppliers (25%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (40%), Asia (35%), Europe (25%)

By designation:

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

Contents of the report:

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

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