Over the last few years, the Furfural Solvent Market has increased demand for the non-toxicity and low volatile organic compound (VOC) content. Additionally, there has been strong development in manufacturing sector, which have significantly contributed to the furfural solvent market’s demand, thus increasing the overall growth for the market.
Global furfural solvent market was valued at USD 119.03 million in 2021 and is expected to reach USD 156.74 million by 2029, registering a CAGR of 3.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Furfural alcohol, also known as 2-furylmethanol is basically furan with a hydroxymethyl group added is the basis of the chemical molecule. Bagasse from sugarcane and corn cobs are used to make furfural. By reducing furfural with a catalyst, furfural alcohol is produced. Furfural alcohol is typically employed as a solvent, but its principal application is as a chemical intermediary in the production of numerous other compounds, including wetting agents, adhesives, and foundry resins.
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Global Furfural Solvent Market Scope
The furfural solvent market is segmented on the basis of raw material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
Corn Cob
Rice
Husk
Sugarcane Bagasse
Others
Application
Petroleum Refining
Agricultural Formulations
Paints and Coatings
Pharmaceuticals
Others
Furfural Solvent Market Regional Analysis/Insights
The furfural solvent market is analyzed and market size insights and trends are provided by country, raw material and application as referenced above.
The countries covered in the furfural solvent market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rising global demand for different bio-based chemicals within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the growth in construction activities in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Furfural Solvent Market Share Analysis
The furfural solvent market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to furfural solvent market.
Some of the major players operating in the furfural solvent market are
TransFurans Chemicals bvba (Belgium)
Central Romana Corporation (Dominican Republic)
Pennakem, LLC (U.S.)
Silvateam S.p.a (Italy)
ILLOVO SUGAR AFRICA (PTY) LTD (South Africa)
Hebeichem (Malaysia)
Hongye Chemical (China)
KRBL (India)
Merck KGaA (Germany)
Lenzing AG(Austria)
Tannin Corporation (Slovenia)
Hefei TNJ Chemical Industry Co., Ltd. (China)
Hefei TNJ Chemical Industry Co.,Ltd. (China)
Neste (Finland)
Soltex Inc. (U.S.)
Hengyi Industries Sdn Bhd (Malaysia)
BASF SE (Germany)
Ashland Inc., (U.S.)
Adrol (U.S.)
Shandong Crownchem Industries Co., Ltd (China)
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