Global Furfural Market to Reach $869.2 Million by 2028: Expanding Applications in Agriculture, Paint & Coating, and Pharmaceuticals Drive Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Furfural Market Size: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global furfural market is expected to witness significant growth from 2023 to 2028, with opportunities emerging in the agriculture, paint & coating, pharmaceutical, food & beverage, and refinery sectors. The market is projected to reach an estimated value of $869.2 million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.

The key drivers for this market's growth are the wide usage of furfural as a solvent or intermediate in various end-use industries, increasing demand for furfuryl alcohol, and the expanding usage of furfural in refractory products such as ceramic composites, fiberglass, and bricks.

Furfural Market by Segment

The study provides a forecast for the global furfural market by raw material, application, end-use industry, and region, as follows:

Furfural Market by Raw Material [Shipment Analysis by Value from 2017 to 2028]:

• Corn Cob
• Sugarcane Bagasse
• Sunflower Hull
• Rice Husk
• Others

Furfural Market by Application [Shipment Analysis by Value from 2017 to 2028]:

• Furfuryl Alcohol
• Solvent
• Intermediate
• Others

Furfural Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Agriculture
• Paints & Coatings
• Pharmaceuticals
• Food & Beverage
• Refineries
• Others

Furfural Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Furfural Companies

The report profiles some of the key furfural companies, including:

• Illovo Sugar Africa (Pty.)
• Linzi Organic Chemical
• Trans Furans Chemicals bvba
• Central Romana
• DalinYebo
• Hebeichem

Furfural Market Insights

The analyst forecasts that corn cob will continue to be the largest segment during the forecast period, as it is a renewable agricultural biomass with a high concentration of pentosane, up to 32%. Refinery is expected to remain the largest segment due to the significant use of furfural as a solvent in the production of specialty adhesives, lubricants, and petroleum refining. Asia Pacific (APAC) will remain the largest region due to the presence of key players, a large chemical production hub in China, and significant agricultural activities in India.

Features of the Furfural Market

• Market Size Estimates: Furfural market size estimation in terms of value.
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Furfural market size by various segments, such as by raw material, application, end-use industry, and region.
• Regional Analysis: Furfural market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different raw materials, applications, end-use industries, and regions for the furfural market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the furfural market.
• Analysis of Competitive Intensity: The industry's competitive landscape is assessed based on Porter's Five Forces model.

For more information about this report visit https://www.researchandmarkets.com/r/sxey52

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