Furfural Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024 © Coherent market Insights. All Rights Reserved REPORT DESCRIPTION Furfural Market Overview:Furfural is an organic compound derived from plant materials such as corncobs, oat, wheat bran, rice husk, bagasse, and saw dust. It is usually produced from agricultural wastes rich in pentosans that are hydroysed to produce furfural and its byproducts. Furfural is a colorless oil that readily dissolves in various organic solvents and is slightly soluble in water. It exhibits chemically similar properties as that of other aldehydes and aromatic compounds. It can be readily hydrogenated to tetrahydrofurans derivatives, which when are heated with acids results into solidified polymer or thermosetting polymer. Hence, it is commercially considered as a renewable, non-petroleum based chemical feedstock. Due to these properties, it is widely used in application industries such as petroleum, agriculture, paints & coatings, and pharmaceuticals. Increasing environmental concerns of fossil resources has led to rise in production of renewable alternatives as suitable biomassbased platform chemicals. The U.S. Department of Energy has also selected furfural as one of the top 30 platform chemicals derived from biomass. Furfural production was pioneered in 1921 by the Quaker Oats Company using oat hulls, corncobs, and bagasse. In 2014, around 300 to 700 kilotons of furfural was produced worldwide, of which China contributed a major share. Significant improvements in the production methods of furfural and its increasing incorporation in a wide range of applications have resulted into furfural emerging as a widely used biomass-based chemical. The global furfural market is classified on the basis of the following segments: ● ● ● ● By application Furfural alcohol Solvents Others © Coherent market Insights. All Rights Reserved REPORT DESCRIPTION Global Furfural Taxonomy:The global furfural market is classified on the basis of the following segments: By raw materials ● ● ● ● Corn cob Rice husk Bagasse Others By end-use industry ● ● ● ● ● Petroleum Agriculture Paints & coatings Pharmaceutical Others Request Sample of Furfural Market:https://www.coherentmarketinsights.com/insight/request-sample/321 © Coherent market Insights. All Rights Reserved Prevalent Scenario in Furfural Market Increasing inclination of the populace towards renewable energy to replace fossil resources is a major factor driving growth of the furfural market. Due to its key attributes of thermosetting properties, physical strength, and corrosion resistance, furfural has emerged as an immediate alternative to furan-based chemicals. Also, it is derived from abundantly available biomass, which makes it a highly preferred biomass-based chemical. Furfural is mainly used to produce furfuryl alcohol, which is widely used in manufacturing polymers, textiles, and construction materials. The raw materials for furfural production are the agricultural wastes which are widely available in the Asia-Pacific region, especially in China, India, Indonesia, and Malaysia. The abundant availability of raw materials and low cost labor available in these countries is another factor driving the furfural market in Asia Pacific. Request To View The Table of content:https://www.coherentmarketinsights.com/ongoing-insight/toc/321 Hence, it is also widely used in production of agricultural formulations such as herbicides, pesticides, fungicides, and other synthetic chemical compounds. The rising trend of incorporation of natural or bio-based chemicals into pharmaceutical industry has led the manufacturers to invest in technologies to broaden the furfural application into pharmaceutical and cosmetic products. However, inefficient technology resulting in low yields and complex production process of furfural restrains the growth of the market. However, increasing government initiatives for use of bio-chemicals into different applications create opportunities for the furfural manufacturers to invest into research and development of the furfural products and their applications. © Coherent market Insights. All Rights Reserved ABOUT COHERENT MARKET INSIGHTS ABOUT US Coherent Market Insights is a global market intelligence and consulting organization focused on assisting its plethora of clients achieve transformational growth by helping them make critical business decisions. 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Increasing inclination of the populace towards renewable energy to replace fossil resources is a major factor driving growth of the furfural market. Due to its key attributes of thermosetting properties, physical strength, and corrosion resistance, furfural has emerged as an immediate alternative to furan-based chemicals.
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