Furfural Derivatives Market Forecasts to 2028 – Global Analysis By Material Type (Sugarcane Bagasse, Corncob, Rice Husk), Application (Derivatives, Solvent), End User (Agriculture, Agrochemicals), and By Geography
According to Stratistics MRC, the Global Furfural Derivatives Market is accounted for $552.24 million in 2020 and is expected to reach $847.51 million by 2028 growing at a CAGR of 5.5% during the forecast period. Growing demand for pharmaceutical industry, increasing usage of derivatives food and beverage sector, demand for bio-based products and rising awareness among consumers are the major factors propelling the market growth. However, environmental issues are hampering the market growth.
Furfural is a solvent formed by the acid hydrolysis of pentosan, which are present in biomasses such as bagasse, corn cobs, rice hulls, and oats hulls. It can be shaped by using easily available raw materials in large quantities. Furfural derivatives have gained impetus as possible chemicals for the manufacture of biochemical and biofuels. It is the most frequently produced industrial chemical.
Based on end user, the plastics segment is estimated to have a lucrative growth due to the increasing implementation of polymers and rising usage of agrochemical and plastic industries in developing economies.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the rapid growth of pharmaceuticals industries and rise in industrialization in countries such as India and China. Popularity for furfural subsidiaries from the pharmaceuticals, plastics, and agrochemicals enterprises also support the market in Asia-Pacific.
Some of the key players profiled in the Furfural Derivatives Market include Pennakem, LLC, Nova Molecular Technologies, Hongye Chemical Co. Ltd, Sinochem Qingdao Co. Ltd, Corbion NV, Avantium Holding BV, DynaChem Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, Ashland, Inc, Aurus Specialty Chemicals, Beijing Lys Chemicals, NC Nature Chemicals, Shanghai Ruizheng Technology, and Laxmi Furals Private Limited.
• Furoic Acid
• Tetrahydrofurfuryl Alcohol (THFA)
• 2, 5-Furandicarboxylic Acid (FDCA)
• Furfuryl Alcohol
• Methyl Tetrahydrofuran (MeTHF)
• Poly Tetrahydrofuran (poly THF)
• Tetrahydrofuran (THF)
Raw Material Types Covered:
• Sugarcane Bagasse
• Rice Husk
• Other Raw Material Types
End Users Covered:
• Food & Beverages
• Industrial Chemicals
• Paints and Coatings
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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