Rising demand for ecological products owing to the reduction of fossil fuel resources is assessed to propel the demand. Presently, furfural production is considered by old industrial technologies, high steam consumption, and a huge amount of acid use, which lead to significantly low product output.
Adroit Market Research study on the global market for furfural offers a holistic view of the industry from 2020 to 2028 as a forecast period, including factors such as market drivers, limitations, opportunities, threats, and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players based on their product range, regional presence, strategic initiatives, and overall sales. Prominent players in the global furfural market have been analyzed in depth.
Based on the raw material, Corncob is expected to attain the largest market revenue share in the target market, by raw material, in the given timeframe. It found on the central part of the maize on which the seed is grownup. Corncob and sugarcane bagasse (SCB) are the two main raw materials used to produce furfural. Corncob is generally the foreseen product because it has the uppermost hemicellulose content (30.0%-35.0%) amongst all raw materials for furfural. It is a cost-effective raw material as it offers a superior yield when compared to other raw materials.
Based on the region, the Asia Pacific is estimated to attain a major revenue share for the global Furfural market in the given timeframe. China has arisen as a significant contributor to the consumption of furfural in the Asia-Pacific region and is anticipated to uphold its supremacy in the given timeframe. Raw materials, such as rice husk, almond husk, bagasse, corn cobs, cotton husk, and other agro-based products & wastes, are extensively available in emerging economies such as India, Indonesia, China, and Malaysia with a minimum production cost, which is anticipated to fuel the target market growth in this region.
The key players of global furfural market report include - Transfuran Chemicals, Central Romana Corporation, Pennakem, Silvateam, Illovo Sugar, Hongye Holding Group Corporation, KRBL, Lenzing, Tanin, and Shandong Crownchem Industries.
Key Segments of the Global Furfural Market
Raw Material Overview, 2018-2028 (USD Million)
- Sugarcane Bagasse
- Rice Husk
- Others (wood chips, oat hulls, and cotton husks)
Application Overview, 2018-2028 (USD Million)
- Others (pharmaceutical, agriculture and food & beverage)
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America