Furfural Market Is Expected to Upsurge Growth by 2027 | By Top Players -Zibo Xinye Chemical Co, Welldon Trading Co, Jinlilin Fufural Manufacture Co. Ltd, Furnova Polymers Ltd, Shenyang Hawk International Trading Co

Over the projected period, the increased importance of bio-based solvents as a result of growing environmental concerns is expected to boost product demand in solvent applications. Agriculture, foundry, pharmaceuticals, paints & coatings, refineries, automotive, chemicals, and construction are just a few of the end-use industries that use furfural as a solvent or intermediary. Over the forecast period, the increasing construction sector is expected to augment demand for the product in many refractory materials, including bricks, ceramics, and fiberglass composites.

List of Top Furfural Industry manufacturers :

  • Zibo Xinye Chemical Co
  • Welldon Trading Co
  • Jinlilin Fufural Manufacture Co. Ltd
  • Furnova Polymers Ltd
  • Shenyang Hawk International Trading Co
  • Zhucheng Taisheng Chemical Co
  • Novel Organic Industries
  • Welldon Trading Co
  • Shandong Ruide Chemical Co. Ltd
  • Hebei Furan International Co. Ltd

, & Others.

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The demand for sustainable products is expected to rise as a result of the depletion of fossil fuel supplies. Furfural production is now characterized by obsolete manufacturing technology, high acid consumption, and high steam consumption, all of which result in a low product yield or output. As a result, many companies are concentrating their efforts on developing novel methods that will reduce overall energy usage while increasing product yield throughout the purifying process. Manufacturers are more likely to use a combination of the most successful biomass and chemical processes, resulting in significant cost savings.

Furfural Industry – Segmentation:

Furfural industry -By Application:

  • Furfural Alcohol and Other Derivatives

Furfural industry – By Product:

  • Sugarcane Bagasse
  • Corncob
  • Rice Husk and Others

In 2020, Asia Pacific will be the most prominent region, with a market share of approximately 74 percent. This is due to the region’s large production of furfural, particularly in China, as well as expansion in a number of end-use industries. Because of increased product demand from the chemical and foundry industries, the APAC market is expected to grow at the quickest rate from 2020 to 2028. China’s high demand, combined with the growing output of furfuryl alcohol, drives product consumption. The rise of the food and beverage and pharmaceutical sectors over the last decade has contributed to Europe’s market growth. Furfural is mostly produced in the economies of Italy, Austria, Germany, and Slovenia, and is then imported by other nations in the region. The product is used as a flavoring ingredient in a variety of food products throughout Europe. Furfural’s increasing use in meat products, baking, and drinks, as well as the developing food and beverage sector in Germany and the bakery sector in Italy and France, are expected to drive market expansion in the near future.

FAQs:

  1. What are the major market trends that are influencing the growth of the Furfural market?
  2. Which region is expected to grow faster in the Furfural market?
  3. What would be the Furfural market CAGR during the forecasted period?
  4. How does the market perform in the Europe region?

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