Furfural Market Worth $700 Million by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 8, 2019 /PRNewswire/ -- According to the new market research report "Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk and Others), Application (Derivatives (Furfural Alcohol and Other Derivatives), solvent) and Region (Asia-Pacific, Americas, Europe,Middle East and Africa) - Global Forecast to 2024", published by MarketsandMarkets™, the Furfural Market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period.

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=101056456

Browse in-depth TOC on "Furfural Market"112 – Tables 27 – Figures 101 – Pages

View detailed Table of Content here:

https://www.marketsandmarkets.com/Market-Reports/furfural-market-101056456.html

The increasing usage of various derivatives of furfural in different industries and shift toward green chemicals are propelling the market.

Corncob is the largest raw material segment of the furfural market.

Corncob is extensively used as the raw material for furfural. This is mainly due to the high presence of xylose and pentosan, which are converted into furfural during the synthesis.

The derivatives application is expected to register the fastest growth during the forecast period.

The derivatives application is estimated to grow at the fastest rate during the forecast period due to the high demand from various end-use industries. Furfuryl Alcohol (FA) is the major derivative, which consumes almost 80-85% of the furfural produced around the world.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=101056456

APAC was the largest furfural market in 2018.

APAC led the overall furfural market in 2018. The main reason for the growth of the market in the region is China, which has 85% and 75% of global production and consumption of furfural, respectively. The demand is attributed to the growing foundry and pharmaceutical industries in China. In addition, Thailand has emerged as the second-largest producer and exporter of furfural in the region.

The leading players in the Furfural Market are Transfuran Chemicals (Belgium), Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation (China), KRBL(India), Lenzing (Austria), Tanin (Slovenia), and Shandong Crownchem Industries (China).

Get 10% Free Customization on this Report:

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=101056456

Browse Adjacent Markets: Green Bio Chemicals Market Research Reports & Consulting

Related Reports:

Tetrahydrofuran (THF) Market by Application (PTMEG, Solvents), Technology (Reppe Process, Davy Process, Propylene Oxide Process, Butadiene Process), and Region (Asia Pacific, North America, Europe, RoW) - Global Forecast to 2022

Bioplastics & Biopolymers Market by Type (Non-biodegradable, Biodegradable), End-use Industry (Packaging, Consumer Goods, Automotive, Textiles, Agriculture) and Region (APAC, North America, Europe, and RoW) - Trends & Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/furfural-market.asp 
Visit Our Website: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/furfural.asp

SOURCE MarketsandMarkets