Global Furfural Derivatives Market was valued US$ 551 Mn. in 2019 and is estimated to grow at CAGR of 5.2 %, to reach US$ 740 Mn. during the forecast period of 2020 to 2027.
Market Definition:
Furfural (C4H3O-CHO), also known as 2-furaldehyde is colorless motile liquid produced from various feedstock (agriculture residues, sugar cane bagasse and corn cobs) mainly used in the production of derivatives such as furoic acid, Tetrahydrofurfuryl Alcohol (THFA) for refining lubricating oils as selective solvents in agriculture, plastics, pharmaceutical, and oil & gas industrial application.
The key manufacturers are adopting various technologies to increase Furfural efficiency and enhance the yield. At present, South Africa and China are the dominant producer and consumer of furfural contribute the highest consumption. The APAC region was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and the same is reflected in our analysis.
Market Dynamics:
The report covers worldwide Furfural Derivatives Market size in value and volume with market dynamics by region. All the segments and their detailed evaluation of the trends and factors affecting the market analyzed in the report. Market affecting factors cover drivers, restraints, opportunities, and challenges, consolidation, investment in the industry with focus on key market players by region.
The market is driven by the increase in demand of various furfural derivatives & bio-based products in different industries such as pharmaceutical, plastics, agricultural industry are boosting the necessity for these derivatives. Surging demand of bio-based products because growing awareness among consumers and surge in environmental regulations is expected to propel the global furfural derivatives market. Growing awareness and rising preference in emerging economies such as APAC for bio-based resins and paints concerning to environment are estimated to boost the demand of Furfural Derivatives and supplement the market growth.
Accelerating popularity for methyltetrahyrofuran industrially is creating opportunity for furfural derivatives market during the forecast period. On the conflict, high energy–consumption & high price of furfural production could challenge the market demand.
Global Furfural Derivatives Market: Market Segmentation
The report covers competitive analysis of the Furfural Derivatives Market in each of the geographical segments thereby providing insight into a market share of the countries.
Based on End User, Furfural Alcohol is estimated dominant market and expected to grow in term of revenue at a CAGR of XX% during the forecast period from 2019 to 2027. Lately, 88% of the furfural alcohol is produced from furfural attributing to mounting demand in the production of foundry resins. As solvent is the second most widely used in the refining of lubricating oils, manufacturing of refractory product and extraction of mineral oil. Furfural Alcohol also has widespread application in agricultural or horticultural as nemacide, pharmaceutical intermediates and food & beverages as fragrances. As analyzed in the report the global Furfural Alcohol market in terms of volume is XXX Metric Tons with a market value of US$ XX at a CAGR of XX% during the upcoming forecast.
Based on product Type, tetrahydrofuran (THF), 2-methyl tetrahydrofuran (MeTHF) was valued as the largest revenue of XX Mn in 2019 and is forecasted to grow at CAGR of XX % in the upcoming forecast. The leading factor driving the growth is widespread utilization of Furfural Derivatives with an increasing market share in chemical industries. The Asia Pacific and Europe are estimated as the dominant market for global furfural derivatives. 2-methyl tetrahydrofuran is gaining popularity in organometallic chemistry owing to constructive properties as a useful alternative to THF & employment to the Green Chemistry.
Global Furfural Derivatives Market1
Global Furfural Derivatives Market: Geographical Analysis
Asia Pacific is the largest consuming region with a market share of 78% in 2019 and is anticipated to reach US$ XX.X Bn by 2027, at a CAGR of 6.5 % and 4.9% for value and volume respectively during the forecast period. The dominance is mainly due to growing demand from the plastics, pharmaceuticals and agrochemicals industries fuelling the market growth. The furfural derivatives, especially in India and China region, is projected to expand rapidly due to growing pharmaceuticals industries & rise in industrialization. Of which China is the largest producer and exporter of furfural globally. In 2019 market size stood at US$ XX Bn in while in China, the market size was valued XX Bn and expected to increase by US$ X.30 Bn in coming years. Furthermore, china Furfural Derivatives market size was valued XX Bn and expected to increase by US$ XX Bn in the coming years.
Europe is predicted to have a healthy growth over the forecast due to burgeoning utilization of furfural alcohol & furfural derivatives in the market.
Competitive Analysis: Global Furfural Derivatives Market:
The report of Global Furfural Derivatives Market analysis includes information of detailed analysis leading manufacturer’s, prominent vendors and upcoming trends & challenges that will influence market growth. Further, the adoption of variant strategic business activities such as acquisitions, mergers, collaboration, etc. are estimated to create productive opportunities for the global market over the forecast period.
As per report, some major prominent players in Furfural Derivatives Market are Aurus Specialty Chemicals, Beijing Lys Chemicals, Central Romana Corporation and Furnova Polymers.
The objective of the report is to present a comprehensive analysis of the Global Furfural Derivatives Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Furfural Derivatives Market dynamics, structure by analyzing the market segments and projects the Global Furfural Derivatives Market size. Clear representation of competitive analysis of key players By Pathogen Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Furfural Derivatives Market make the report investor’s guide
Scope of the Global Furfural Derivatives Market:
Global Furfural Derivatives Market, By Product Type
• Furoic Acid
• Tetrahydrofurfuryl Alcohol (THFA)
• 2, 5 - Furandicarboxylic Acid (FDCA)
• Tetrahydrofuran (THF)
• Methyl Tetrahydrofuran (MeTHF)
• Poly Tetrahydrofuran (Poly THF)
Global Furfural Derivatives Market, By End-User
• Chemicals
• Food and Beverages
• Agriculture
• Pharmaceuticals
• Paints and coatings
• Resins
Global Furfural Derivatives Market, By Application
• Furfural alcohol
• Solvent application
• Pharmaceutical
• Other application
Global Furfural Derivatives Market, By Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Latin America
Global Furfural Derivatives Market, key Players
• Aurus Specialty Chemicals
• Beijing Lys Chemicals
• Central Romana Corporation
• Furnova Polymers
• Hefei Tnj Chemical Industry
• Hongye Holding Group Corporation
• Illovo Sugar Africa
• KRBL
• Laxmi Furals Private Limited
• Lenzing
• NC Nature Chemicals
• Pennakem
• Shandong Crownchem Industries Limited
• Shanghai Ruizheng Technology
• Silvateam
• Tanin
• TCI Chemicals
• Transfurans Chemicals
• Xingtai Chunlei Furfuryl Alcohol
• Zhucheng Taisheng Chemical
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