Furfural Market business report includes strategic profiling of key players in the market, systematic analysis of their core competencies, and draws a competitive landscape for the market. It is the most appropriate, rational and admirable market research report provided with a devotion and comprehension of business needs.
The global Furfural Market is forecasted to reach USD 793.3 Million by 2027, according to a new report by Reports and Data. Growing demand for the market is due to the rise in demand for green chemicals. An increase in concern for the environment and shift to renewable alternatives to replace fossil fuels will propel the growth of the industry. The growing demand in the pharmaceutical sectors will also propel the demand for the product.
The driving factor of the market is the stringent regulations with regards to the air pollution standards. The market products are extracted from the lignocellulosic and agricultural feedstock. The adhesives segment is witnessing increased demand due to its usage in the automotive industry as weight-reducing components. Moreover, the demand for non-toxic Furfural in petroleum refineries is also encouraging the growth of the market. High demand from the food and beverage industries is also supporting market demand.
However, slow technological advancement and lack of production process frameworks are expected to fuel the demand for the market. Moreover, the development of new technologies is also creating ample opportunities for growth. Raw materials for Furfural are available in Asia Pacific regions such as India, China, Malaysia, and Indonesia, and the cost of production is also quite low.
Top Companies Listed in the Furfural Market Report:
Pennakem, Lenzing, Central Romana Corporation, Illovo Sugar Africa, Transfurans Chemicals, Hongye Holding Group Corporation, Silvateam, Shandong Crownchem Industries Limited, KRBL, and Laxmi Furals Private Limited, among others.
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The global materials & chemicals industry report deals with the manufacture and sales of a wide range of chemical products and materials including soaps, perfumes, detergents, and various industrial chemicals and construction raw materials. Increasing implementation of environmentally sustainable raw materials and chemicals, growing environmental awareness among individuals, and escalating demand for technologically advanced products are among the key contributors to industry growth. Industry growth is further driven by growing use of organic industrial chemicals, increasing demand for advanced agrochemicals and high-performance specialty chemicals in the agricultural industry, and rising demand for advanced materials & chemicals in the oil & gas, pharmaceutical, personal care & cosmetics, pulp & paper, and textile industries.
The study offers key insights into the strengths and weaknesses of the prominent players through an extensive SWOT analysis and Porter’s Five Forces analysis. It further segments the market on the basis of product type, application spectrum, med-use, and geography. The Furfural industry analysis report assesses the industry in terms of market size, market share, and revenue. The key regional markets covered in the report include North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Furthermore, the report sheds light on the presence of the global Furfural market in the major regions with regards to market share, market size, revenue contribution, sales statistics, distribution channels, and various other key elements.
To know more about the report @ https://www.reportsanddata.com/report-detail/furfural-market
Raw Material Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
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