Furfural Market Dynamics:
The demand for furfural alcohol is on the rise, fueled by its reactivity and essential role in manufacturing foundry sand binders. This substance, derived from furfural, has long been a key component in producing metal cores and molds. Additionally, it serves as a precursor for Tetrahydrofurfuryl alcohol (THFA), widely used in the pharmaceutical industry. The World Foundry Organization predicts a significant growth of 13.0 to 14.0% CAGR in India's foundry sector until 2027, positioning it as the world's second-largest after China. This surge in the foundry industry is contributing to the increased demand for furfuryl alcohol, consequently driving up prices.
Furfural Market Report Scope and Research Methodology:
The report aims to offer a thorough evaluation of the market, presenting insightful observations, factual information, historical data, industry-validated market insights, and projections based on a well-defined set of assumptions and methodology. It plays a crucial role in unraveling the dynamics and structure of the Furfural market by identifying and analyzing market segments, ultimately projecting the global market size. Additionally, the report delves into a competitive analysis of key players, examining factors such as product offerings, pricing, financial position, product portfolio, growth strategies, and regional presence. To address stakeholders' concerns and guide future efforts and investments, the report includes PEST analysis, PORTER’s analysis, and SWOT analysis, providing a comprehensive framework for prioritizing actions in the emerging segments of the Furfural market.
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Furfural Market Segmentation
by Raw material
• Corn Cob
• Rice Husk
• Sugarcane Bagasse
• Others
by End-user
• Agriculture
• Refineries
• Pharmaceuticals
by Application
• Furfuryl alcohol
• Solvent
• Intermediate
• Others
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Furfural Market Key Players include:
• 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.
Furfural Market Regional Insights
Geographically, Asia pacific holds the major share of furfural market and it is expected to dominate the global furfural market during forecast period. This can be credited to the increase in the market for end-user industries such as petroleum refineries, pharmaceuticals, paints & coatings, agricultural formulations, and others.
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
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