Global Furfural Market: High Demand of Green Chemical Noticed by Variant Market Research

SAN FRANCISCO - Jan. 31, 2018 - PRLog -- According to the latest report published by Variant Market Research, the global furfural market size is projected to reach $1,739 Million by 2025 from $757 Million in 2017. In this report, furfural market forecast says that the global market is growing at 11% CAGR from 2017 to 2025.

Growing production in underdeveloped nations to drive the global market

The global furfural market trend includes high demand of green chemical, mounting environmental responsiveness to renewable alternates replacing fossil resources, and growing production in underdeveloped nations. Though, high cost of production may hinder the growth of the market. Moreover, advancement of efficient technologies would provide an opportunity for players of market.

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Market Segmentations

The global furfural market is classified into raw material, application, and geography. Raw material segment includes furfural bagasse, furfural from rice husk, furfural from corn cobs, and other raw materials. Further, the market is classified on basis of application into furfuryl alcohol, pharmaceutical agents, solvents, and other applications. North America (U.S., Mexico, and Canada), Europe (Scandinavia & CIS Region, Italy, Germany, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.

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Corn Cobs, by raw material dominated the global market in 2017

Corn Cobs held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. Rice husk is expected to grow at a fastest CAGR over the forecast period 2017 – 2025. Availability of rice production in nations like South Korea, Bolivia, and Pakistan, among others is driving factor for the growth of rice husk segment.

Furfuryl alcohol, by application dominated the global market in 2017

Furfuryl alcohol held for the highest market share in 2017. The high growth is credited to its usage in cements thermoset polymer matrix composites, coatings, adhesives, and casting resins.

Asia-Pacific dominated the global market in 2017

Asia-Pacific held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025, due to current expansion of the pharmaceutical industry in the emergent economies, such as India & China and sufficient availability of raw materials in these countries.

Competitive Landscape

Major market players of the market are Hongye Holding Group Corporation Ltd., Central Romana Corporation, TransFuran Chemicals bvba, KRBL Ltd., Tieling North Furfural (Group) Co., Illovo Sugar (Pty) Ltd, Xingtai Chunlei Furfuryl Alcohol Co., Ltd., Nutrafur S.A., Silvateam S.P.A., and Arcoy Biorefinery Pvt. Ltd., among others.

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Scope of the Global Furfural Market

Raw Materials Segments

• Corn Cobs
• Rice Husk
• Bagasse
• Other Raw Materials

Application Segments

• Furfurly Alcohol
• Solvents
• Pharmaceutical Agents
• Other Applications

Geographical Segments

• North America

• U.S.
• Canada
• Mexico

• Europe

• Germany
• Italy
• Scandinavia & CIS Region
• Rest of Europe

• Asia-Pacific

• India
• China
• Japan
• Rest of Asia-Pacific

• RoW

• South America
• Middle East
• Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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