The furfuryl alcohol market is expected to grow at a stable CAGR of 5.9%,


NEWARK, Del, July 20 28, 2022 (GLOBE NEWSWIRE) — Considering the previously mentioned factors, Future Market Insights (IMF) forecasted the furfuryl alcohol market to expand at a constant CAGR of 5.9%, pushing transactions above 1. 5 billion US dollars in 2028.

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 hydrogen catalysis. It is colorless or pale yellow in appearance and finds adoption in various applications.

As a result, the global furfuryl alcohol market is expected to witness significant growth in 2018, reaching a market value of US$836.2 million with an annual growth rate of 4.5% over 2017. , the global demand for furfuryl alcohol will increase. also be influenced by the increasing use of the chemical in pharmaceutical solvents and wood impregnation.

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The strong shift towards the development of bio-based chemicals amid volatile petrochemical prices is expected to remain a key driver for furfuryl alcohol market growth. Mainly, over the years, the consumption of furfuryl alcohol in foundry resins has reached an unprecedented level, due to the physical and chemical properties that furfuryl alcohol possesses. Rising industrial production, relatively stable economic conditions and steady growth in automobile sales in various regions such as India, SEAP and China are the factors estimated to drive the growth in demand for furfuryl alcohol.

In the recent past, the furfuryl alcohol market has seen significant developments from a competitive perspective. Expanding production capacity and starting production are some of the strategies favored by major players to maintain and enter the global furfuryl alcohol market.

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

According to source type, corn cob raw material is expected to remain a giant in the global market and account for more than 86% of revenue by the end of 2028. Corn cob is one of the raw materials most consumed in the production of furfural and then furfuryl alcohol.

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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, sugar cane 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. Moreover, being at the forefront in terms of furfuryl alcohol production and consumption, China is also set to control the global furfuryl alcohol market in the future.

The growing demand for furfuryl alcohol has prompted major manufacturers to expand their production facilities. In India, various manufacturers are about to start the production of furfuryl alcohol due to the predicted increase in demand in the coming years.

Hongye Holding Group Corp., Ltd., Zibo Huaao Chemical Co., Ltd., International Furan Chemicals BV, China XLX Fertilizer Ltd., Aurus Specialty 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 major players involved in the global furfuryl alcohol market.

Furfuryl Alcohol market: segmentation

By origin Type :

  • sugar cane bagasse raw material
  • corn cob raw material
  • Others (Wheat bran, oats, wood, etc.)

By Applications:

  • A corrosion inhibitor
  • Casting resin
  • Solvents (pharmaceutical and others)
  • Others (Adhesives, Lubricants etc.)

By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Key Questions Answered by the Report

  • How has the furfuryl alcohol market evolved over the past five years?
  • How is the furfuryl alcohol market expected to grow in terms of volume and value over the study period?
  • What are the prevailing market dynamics in the furfuryl alcohol market?
  • What are the competitive developments and trends in the Furfuryl Alcohol market?
  • What are the Underlying Macroeconomic and Industrial Factors Impacting the Furfuryl Alcohol Market Growth?
  • What are the key challenges, opportunities, and drivers for improvement for market players?
  • What are the market positioning and key strategies of major manufacturers according to market taxonomy?
  • How is competition structured in the furfuryl alcohol market and how has it evolved in recent years?

Contents

1. Summary

1.1. Market overview

1.2. Market analysis

1.3. MFI analysis and recommendations

1.4. Wheel of Fortune

2. Presentation of the market

2.1. Market Taxonomy

2.2. Market definition

2.3. Presentation of the manufacturing process

2.4. Setup for Furfuryl Alcohol Production

3. World Furfuryl Context of the alcohol market

3.1. Global Economic Outlook

3.2. Macroeconomic factors

To continue the table of contents…

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