Furfuryl Alcohol Market is Expected to Reach Over US$ 1,493.7 Million by the end of Forecast Period 2018-2028

News provided by

Oct 03, 2018, 09:30 ET

VALLEY COTTAGE, New York, October 3, 2018 /PRNewswire/ --

Furfuryl alcohol (C4H3OCH2OH), also known as 2-furylmethanol or 2-furancarbinol, is an organic compound containing a furan substituted with a hydroxymethyl group. Furfuryl alcohol is made from furfural by means of catalysis with hydrogen. It is colorless or pale yellow in appearance and finds adoption in various applications. As a result, the global market for furfuryl alcohol is expected to witness significant growth in 2018, reaching a market value of US$ 836.2 Mn with a y-o-y growth rate of 4.5% as compared to 2017. Furthermore, the global demand for furfuryl alcohol will also be influenced by the rising utilisation of the chemical in pharmaceutical solvents and wood impregnation.

(Logo: https://mma.prnewswire.com/media/677274/Future_Market_Insights_Logo.jpg )

The strong shift towards the development of bio-based chemicals against the backdrop of volatile petrochemical prices is expected to remain a key driver for the growth of furfuryl alcohol market. Predominantly, over the years, the consumption of furfuryl alcohol in foundry resins has reached an unprecedented level, owing to the physical and chemical properties possessed by furfuryl alcohol. Increasing industrial production, relatively stable economic conditions and consistent growth in automotive sales in various regions such as India, SEAP and China are the factors estimated to drive the growth in the demand for furfuryl alcohol.

In the recent past, the furfuryl alcohol market has witnessed significant developments from the competition perspective. Production capacity expansion and commencement of production are some of the preferred strategies opted by prominent players to sustain and enter in the global furfuryl alcohol market.

Based on the application, the foundry resin segment is expected to remain dominant in terms of the global furfuryl alcohol market volume share and account for approximately an 88.6% share by the end of 2028.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-371

Based on source type, corn cob raw material is expected to remain behemoth in the global market and account for more than 86% of the revenue by 2028-end. Corn cob is one the most consumed raw materials in the production of furfural and then, furfuryl alcohol. On the other hand, the production of furfuryl alcohol from sugarcane bagasse is expected to grow at a CAGR of 6.4%. In terms of growth, bagasse will remain one of the most attractive segments. Importantly, sugarcane bagasse has a yield just next to that of corn cob.

In 2017, China was the most attractive region in the global furfuryl alcohol market and accounted for more than 61.3% of the global market share. Further, being at the forefront in terms of furfuryl alcohol production and consumption, China is pegged to control the global furfuryl alcohol market in the future as well.

Furfuryl Alcohol Market Segmentation By Application (Corrosion Inhibitor, Foundry Resin, Solvents (Pharmaceutical and Others), Others (Adhesives, Lubricants etc.)); By Source Type (Sugarcane Bagasse Raw Material, Corn Cob Raw Material, Others (Wheat bran, oats, wood, etc.)): https://www.futuremarketinsights.com/reports/furfuryl-alcohol-market

The increasing demand for furfuryl alcohol has influenced prominent manufacturers to expand their production facilities. In India, various manufacturers are poised to start the production of furfuryl alcohol on account of the anticipated demand rise in the coming years.

Hongye Holding Group Corp., Ltd., Zibo Huaao Chemical Co., Ltd., International Furan Chemicals B.V., China XLX Fertilizer Ltd., Aurus Speciality Company Limited, Xingtai Chunlei Furfuryl Alcohol Co., Ltd., Silvateam, Shijiazhuang Worldwide Furfural and Furfuryl Alcohol Furan Resin Co. Ltd., KRBL Ltd. and Illovo Sugar (PTY) Ltd. are some of the key players involved in the global furfuryl alcohol market.

Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-371

More from Chemicals & Materials:

Industrial Pipe Insulation Materials Market Segmentation By Material Type - Fiberglass, Mineral Wool, Cellular Glass, Polyurethane, Polystyrene, Others; Product Type - Prefabricated, Rolls & Batts Spray; End Use - Chemical, Food & Beverages, Oil & Gas, Power, Metal, Manufacturing, Other Industrial: https://www.futuremarketinsights.com/reports/industrial-pipe-insulation-materials-market
Coated Fabrics for Defense Market Segmentation By Fabric - Polyamide/Nylon, PVC, Teflon, Aramid, Polyester; Application - Personnel, Oriented Object, Oriented CF for Military, Other Equipment; Material - Thermoplastic, Rubber: https://www.futuremarketinsights.com/reports/coated-fabrics-defense-market
Aluminium Fluoride Market Segmentation By Production Routes - Dry Process, Wet Process, Fluorosilicic Acid; Grade - Industrial, Agriculture, Reagent, Electron; Application - Aluminium, Fluorocarbons, Ceramic, Chemical Intermediate, Others: https://www.futuremarketinsights.com/reports/aluminum-fluoride-market

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Browse More Chemicals & Materials

Contact Us
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44-(0)-20-7692-8790
Sales: [email protected]
Press Office: [email protected]