Astute Analytica’s most recent report on Furfural Market research explores a wide range of particular, important, and enticing market and industry elements. All of the report’s findings, data, and information were confirmed and revalidated by our sources for market research. An in-depth analysis of the market was carried out by the report’s authors using a research and study methodology that was best in class for the industry. This study analyses industry trends in each sub-segment and anticipates demand, trends, and revenue growth for the local and national markets from 2022 through 2027.

This analysis examines market factors such as market size, economic conditions, market dynamics, and projections. It also offers in-depth details on particular rivals, extension opportunities, and important market drivers. The Furfural Market research is divided into companies, regions, types, and applications.

The Global Furfural Market is projected to grow from US$ 508.38 million in 2021 to US$ 840.65 million by 2027, registering a tremendous compound annual growth rate (CAGR) of 8.7% during the forecast period 2022 to 2027.

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Regional Analysis:

As economies reopen and countries are lifting limitations, the US chemical industry is forecast for a significant recovery in 2022, which could boost plant utilization rates that were affected hard by the pandemic. In the United States, industrial production is forecast to increase by 5.5 percent in 2021 and 4.3 percent in 2022. Chemical volumes in the United States are forecast to rise 1.5 % in 2021 and 3.0% in 2022, while shipments to rise 8.0 % in 2021 and 2022, following a 13.5% drop in 2020.

The Asia Pacific region size value was 36.0% market share, maintaining the largest market share across all regions. As a result of the existence of critical developing economies such as China, India, and Japan in this region, recording the largest market share in the market. Paints and coatings, water treatment, personal care ingredients and cosmetics, electronics, agriculture, and other sectors employ chemicals throughout the Asia-Pacific area. For foreign investors, these places provide excellent investment options. China was the largest specialty chemical market in Asia in 2019, accounting for about 38.9% of the global market. India came in second with a 23.1% share of the total market.

COVID-19 Impact:

Almost every product people use has chemicals. Chemical businesses are functioning in a radically different paradigm as the effects of COVID-19 ripple over the globe and economic activity grinds to a standstill. There is a chasm in the demand for chemicals across end markets. The global supply networks disrupted, chemical companies’ stock prices have taken major hits, and chemical manufacturer competitive orders have switched swiftly in the United States, the Middle East, China, and Europe.

Major Key Players in Furfural Market are:

• Hebeichem
• Hongye Holding Group Corporation Limited
• Transfuran Chemicals
• Tieling North Furfural (Group) Co. Ltd.
• Shanghai Huiyingtong International Trading Co. Ltd.
• KRBL

Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Furfural Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market’s overall size.

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Segmentation Overview

By Raw Material

• Sugarcane Bagasse
• Corncob
• Rice Husk
• Sunflower Hull
• Others

 By Application

• Furfuryl Alcohol
• Solvent
• Resins
• Gasoline Additives
• Fungicides
• Flavor Enhancers
• Decolorizing Agents
• Agricultural Raw Materials
• Others

By End User

• Petroleum Refineries
• Agricultural Formulations
• Pharmaceuticals
• Paints & Coatings
• Lubricants Industry
• Cement Industry
• Energy Sector
• Adhesives
• Food and Beverages Industry
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
• Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
• Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Rest of the World
  • Argentina
  • Brazil
  • Rest of South America
  • GCC
  • South Africa
  • Rest of MEA

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