Furfural Derivatives Market Growth Factors are Rising Applications of Bio-Based and Renewable Products

Radiant Insights, Inc.

SAN FRANCISCO, June 21, 2018 /PRNewswire/ --

Global Furfural Derivatives 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 the cause of the other technically important furans. When exposed to air the colorless liquid turns into dark color. It dissolves in water and can completely mix with alcohol and ether. 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 Derivatives Market are, rising applications of bio-based and renewable products, strict government regulations to build a healthy environment and rising awareness among consumers. Furfural Derivatives Market segmented based on product type, application, and region.

Product type into Poly Tetrahydrofuran (Poly THF), Furoic Acid, Methyl Tetrahydrofuran (MeTHF), Tetrahydrofurfuryl Alcohol (THFA), Tetrahydrofuran (THF), and 2, 5-Furandicarboxylic Acid (FDCA) classify Furfural Derivatives Market. Poly Tetrahydrofuran (Poly THF), Methyl Tetrahydrofuran (MeTHF), and Tetrahydrofuran (THF) are the highly attractive product types, accounting for the largest market share of Furfural Derivatives Market in terms of revenue. When these product types combined, it may have a variety of applications.

Applications into Pesticides, Synthetic Plastics, Pharmaceuticals, and others classify Furfural Derivatives Market. Furfural Derivatives 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 Derivatives Market and led the overall market over the period. Developing countries like China and India are the key consumer of Furfural Derivatives and led the overall market. The reason is usage of advanced technology that has improved production process. On the other hand, European regional market accounted for significant share of Furfural Derivatives Market and follows Asia Pacific in terms of consumption.