Global Furfural Market Growth - Dominating Key Players, New Opportunities Analysis & Emerging Growth Factors

Radiant Insights, Inc.

SAN FRANCISCO, April 9, 2018 /PRNewswire/ --

Global Furfural Market expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe.

Furfural also known as 2-furaldehyde a colorless liquid with chemical formula C4H3O-CHO and is a natural precursor to furan-based chemicals. When exposed to air the colorless liquid turns into dark color. It dissolves in water and can completely mix with alcohol and ether. It is mainly composed of agricultural byproducts like corncobs, oat, husks, and sawdust.

Furfural derivatives inclusively used in industries like agrochemical, plastics, and pharmaceutical. Also, these derivatives inclusively used as transportation fuels, fungicides and nematicides, resins, insecticides, flavor enhancers for drinks and food, lubricants, book preservation, resins, and for wood modification.

Prominent factors that are playing a major role in the growth of Furfural Market are physical resistance, corrosive resistance with thermosetting properties.

Furfural Market segmented based on type, application, and region.

Type into Wheat Bran, Corncobs, and Oat classifies Furfural Market.

Application into Chemical Intermediates, Furfuryl Alcohol, Pharmaceuticals, Solvents, and others classify Furfural Market.

Furfuryl alcohol segment accounted for the largest market share of Furfural Market and led the overall market over the period. The reason being and inclusively used as a binder in foundries, rising demand for metals like copper, steel, and magnesium in developing countries of Latin America and Asia Pacific.

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Furfural Market segmented, geographically into America (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa.

Globally, Asia Pacific regional market accounted for the largest share of Furfural Market and led the overall market over the period. China is the major consumer of Furfural Market alone accounting maximum market share in terms of volume. The reason being, high rates of export of furfuryl alcohol, because of rising demand for furan resins, and the suitable weather and presence of corn fields for maintaining the content of furfural.