Furfural Market, 2016–2024
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Published By: Zion <strong>Market</strong> Research<br />
Global <strong>Furfural</strong> <strong>Market</strong> is Set for Rapid Growth, to Reach USD<br />
1,200.4 Million by 2022<br />
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<strong>Furfural</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research has published a new report titled “<strong>Furfural</strong> <strong>Market</strong> for<br />
Solvents, Pharmaceuticals, Furfuryl Alcohol and Other Applications: Global<br />
Industry Perspective, Comprehensive Analysis, and Forecast, 2016 –<br />
2022.”According to the report, global furfural market was valued at USD 641.8 million<br />
in 2016 and is expected to reach USD 1,200.4 million in 2022, growing at a CAGR of<br />
11.0% between 2017 and 2022.<br />
<strong>Furfural</strong> is a substance derived from the combination of different agricultural feedstock<br />
such as cotton seeds, corn cobs, oats, rice and wood products. It is extensively used as<br />
a solvent for plastic production across the globe. It contains pentosans and easily<br />
dissolves in aromatics & unsaturated olefins. Moreover, the majority of the production<br />
of furfural is undertaken in China, South Africa, and the Dominican Republic. <strong>Furfural</strong><br />
has numerous applications in plastics, biomass, pharmaceuticals, biofuels,<br />
biochemicals, and agrochemical industries.<br />
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<strong>Furfural</strong> <strong>Market</strong><br />
The global furfural market is primarily driven by increasing demand for furfural in<br />
pharmaceutical industry across the globe. Secondly, the rising demand for<br />
agrochemicals and aromatic chemicals is expected to further augment the growth of<br />
furfural market in the near future. Moreover, mounting demand for furfural in flavors<br />
and fragrances industry is projected to propel the market size of furfural over the next<br />
few years. However, the high cost of productivity is viewed as a major restraint for the<br />
furfural market. Nonetheless, ongoing development and research activities coupled with<br />
surging demand for agrochemicals especially in Asia Pacific region is expected to<br />
present new opportunities to the furfural market in the next few years.<br />
Based on the major applications, the global furfural market is bifurcated into solvents,<br />
pharmaceuticals, furfuryl alcohol and other applications. Among these applications,<br />
furfuryl alcohol accounted for the largest share of the furfural market in 2016.Growing<br />
demand for different flavors and fragrances in food and beverages industry is<br />
anticipated to propel the growth of furfural market across the globe. Moreover, solvents<br />
and pharmaceuticals are also important applications that are expected to boost the<br />
demand for furfurals in the near future. Increasing adoption of herbicides and<br />
fungicides in China, India and Thailand is predicted to spur the existing demand for<br />
furfurals within the forecast period.<br />
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<strong>Furfural</strong> <strong>Market</strong><br />
Based on region, Asia Pacific was the dominant market for furfurals in 2016 on account<br />
of easy availability of raw feedstock, such as agro-wastes in countries such as India,<br />
Malaysia, Indonesia and China.This is anticipated to grow the furfural production in the<br />
region. China was the major furfural producer in the region in 2016.Asia Pacific was<br />
followed by Europe and North America in 2016 in terms of market volume. North<br />
America is expected to witness the sluggish growth of furfural market. Furthermore, the<br />
Middle East & Africa and Latin America are expected to witness decent and moderate<br />
growth respectively in the near future.<br />
Some of the key manufacturers of global furfural market included in the study are<br />
SilvateamS.p.A., Nutrafur S.A., Illovo Sugar Ltd., Central Romana Corp.,<br />
ArcoyBiorefinery Pvt. Ltd., International Furan Chemicals, Lenzing AG, Tieling North<br />
<strong>Furfural</strong> (Group) Co., Ltd., Penn A Kem LLC and KRBL Ltd among others.<br />
Browse detail report with in-depth TOC @ https://goo.gl/bfcJCZ
<strong>Furfural</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research<br />
Address: 4283, Express Lane, Suite 634-143, Sarasota, Florida 34249, United States<br />
Tel: +1-386-310-3803 GMT<br />
+49-322 210 92714 Tel: +1-855-465-4651 (US/CAN TOLL FREE)<br />
Email: sales@zionmarketresearch.comWeb:www.zionmarketresearch.com
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