The report on the Furfural Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2020-2025. The report also offers insights into different market segments and other factors affecting the market.
Report Forecast:
Furfural Market is likely to witness a healthy CAGR of 4.8% during the forecast period. The major factors contributing towards the growth of the furfural market are the increasing demand for green chemicals and various regulations related to the development of environmentally friendly products from agencies, such as the Environmental Protection Agency (EPA) and Registration Evaluation Authorization and Restriction of Chemicals (REACH) of Europe. Also, furfural has excellent physical and chemical properties which make it suitable for a variety of applications.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all industries, little or large, dealing in any sector.
The growth curves of the Furfural market have witnessed an enormous ebb and flow in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Furfural market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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The Cornerstones in the market-
Listed below are the top key players that dominate the Furfural market –
Central Romana Corporation Ltd
Hongye Holding Group Corporation Limited
Illovo Sugar Africa (Pty) Ltd
KRBL Ltd
Lenzing AG
Pennakem, LLC
Shandong Crownchem Industries Co. Ltd
Silvateam S.p.a
Tanin d.d
TransFurans Chemicals BVBA.
Furfural Market Segmentation:
The report segments based on demographics, geographics, benefits, volume, etc, have different leading factors and identify the most attractive segments and sub-segments. Market segmentation will not only help marketers to be more efficient in terms of time, money, and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that lead to a roadmap to success.
The Furfural market is segmented into the following categories-
Furfural Market Share: By Raw Material Type
Based on the raw material type, the market is segmented as corncob, rice husk, sugarcane bagasse, and others. Corncob is expected to be the fastest-growing segment during the forecast period.
Furfural Market Share: By Application Type
Based on the application type, the furfural market is segmented as derivatives, solvents, and others. The derivatives segment held the largest share of the market in 2019, as furfural is used as the starting material for manufacturing various furan derivatives such as tetrahydrofuran (THF), furfuryl alcohol, maleic anhydride (MA), 2-methyl tetrahydrofuran (MTHF), and 1, 5-pentanediol, which are manufactured on a large scale.
Furfural Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing furfural market during the forecast period, driven by China which is not only the largest manufacturer and consumer of furfural but also is the largest exporter of furfural and furfural-based chemicals to the other regions. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
- Company Profiling
- Detailed profiling of key market players (up to 3 players)
- SWOT analysis of key market players (up to 3 players)
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