Lucintel Forecasts Global Furfural Market to Reach $985.9 million by 2030.

Furfural Market

Posted on 2023-10-04 by Lucintel in Marketing // 0 Comments

CITY, Country, 2023-Oct-04 — /EPR Network/ —

https://www.lucintel.com/furfural-market.aspx

According to a market report by Lucintel, the future of the global furfural market looks promising with opportunities in the agriculture, paints & coating, pharmaceutical, food & beverage, and refinery markets. The global furfural market is expected to reach an estimated $985.9 million by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are increasing demand for furfuryl alcohol, expanding usage of furfural in various refractory products such ceramic composites, fiberglass, and bricks, and heightened utilization of pesticides and fungicides in agricultural practices across various nations.

A more than 150 — page report is developed to understand Trends, opportunity and forecast in furfural market to 2030 by raw material (corn cobs, sugarcane bagasse, sunflower hull, rice husk, and others), application (furfuryl alcohol, solvent, intermediate, and others), end use industry (agriculture, paints & coatings, pharmaceuticals, food & beverage, refineries, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

In this market, corn cob, sugarcane bagasse, sunflower hull, and rice husk are the major segments of furfural market by raw material.

Lucintel forecasts that corn cobs will remain the highest growing segment over the forecast period because of its adaptability and it helps in playing as a feedstock in the manufacturing of diverse biofuels and chemical products, as well as, it is the most desirable raw material for furfural production.

Within this market, refineries will remain the highest growing segment over the forecast period because it is commonly employed as a solvent in the petroleum refining process, specialized adhesives, and lubricants, and through hydrogenation and it can also be converted into 2-methyl tetrahydrofuran and 2-methyl furan, both of which find application as gasoline additives.

APAC will remain the highest growing region over the forecast period due to significant furfural production, accompanied by expansion in various end-use sectors, such as agriculture, food and beverages, pharmaceuticals, and refineries within the economies of china, india, and japan.

Illovo Group, Linzi Organic Chemical, Trans Furans Chemicals Bvba, Central Romana Corporation, Dalinyebo, Hebeichem, and KRBL are the major suppliers in the furfural market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1–972–636–5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

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