Furfural Market was valued at US$ 494.1 Mn. in 2020 and is expected to reach US$ 762.8 Mn. by 2027, at a CAGR of 6.4% during a forecast period.
Furfural Market Overview:
Maximize Market Research (MMR) spent a lot of time and effort investigating the Furfural Market, focusing on each sector while considering global and regional trends. In order to create a balanced market environment, the primary drivers as well as significant restraints have been thoroughly addressed. To give readers a complete picture of the market, the research separates it into several areas, including Product, Application, Retailers, and Regions. The research also includes long-term industry estimates for the Furfural Market.
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Market Scope:
The Furfural market is expected to develop at a steady rate between 2021 and 2027, according to the forecast. Between 2021 and 2027, the industry is expected to grow rapidly, with leading market players putting in significant effort.
The development process is examined, as well as cost structures and development goals and objectives. This global Furfural market report covers import/export consumption, supply and demand, cost, price, share, sales volume, revenue, and gross margins. In the global Furfural market, this study looks at each producer's manufacturing sites, capacity, production, ex-factory price, market price, sales revenue, and market share. Among the countries (regions) are the United States, Canada, Mexico, Germany, France, the United Kingdom (UK), Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia.
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Segmentation:
Based on the raw material, The Sugarcane Bagasse segment accounted for the largest share in the furfural market in 2017 followed by Corn cob. Sugarcane is a tree-free renewable resource. Sugarcane bagasse is the major by-product of the sugar cane industry. It contains about 50% cellulose, 25% hemicellulose and 25% lignin. Due to its abundant availability, it can serve as an ideal substrate for microbial processes for the production of value-added products such as furfural. Furfural based on corn cob and sugarcane bagasse raw materials together accounted for half of the market share in 2015, in terms of revenue.
Key Players:
• Central Romana
• Hongye Holding
• Illovo Sugar Ltd.
• Lenzing AG
• Penn A Kem LLC
• Silvateam S.p.A.
• Tanin Senvica d.d.
• Aurus Specialty Company
• Henan Huilong Chemical Co.
• Shandong Crownchem
• Tieling North Furfural
• Transfuran Chemicals
• Central Romana Co
• Tanin
• Hebeichem
• Linzi Organic Chemical
• Arcoy
• Behran Oil Co.
Regional Analysis:
Geographically, Furfural market report is segmented into several key regions are as follows,
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
Furthermore, the study covers market size, growth rate, import and export, as well as country-level analysis, integrating the demand and supply forces of the Furfural market in these countries, which are impacting market growth.
COVID-19 Impact Analysis on Furfural Market:
The COVID-19 Pandemic has the potential to disrupt global markets in three ways: by directly affecting production and demand, disrupting supply networks and marketplaces, and bankrupting businesses and financial institutions. The purpose of this research is to understand more about the current situation, the economic slump, and COVID-19's impact on the global Furfural market.
Key Questions answered in the Furfural Market Report are:
- Which product segment grabbed the largest share in the Furfural market?
- How is the competitive scenario of the Furfural market?
- Which are the key factors aiding the Furfural market growth?
- Which region holds the maximum share in the Furfural market?
- What will be the CAGR of the Furfural market during the forecast period?
- Which application segment emerged as the leading segment in the Furfural market?
- Which are the prominent players in the Furfural market?
- What key trends are likely to emerge in the Furfural market in the coming years?
- What will be the Furfural market size by 2027?
- Which company held the largest share in the Furfural market?
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