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.
Request a sample copy of the report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-371
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.
Ask for customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-371
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.)
- A corrosion inhibitor
- Casting resin
- Solvents (pharmaceutical and others)
- Others (Adhesives, Lubricants etc.)
By Region :
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
Contact Sales for further assistance when purchasing this report @ https://www.futuremarketinsights.com/checkout/371
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?
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…
Check out IMF’s extensive coverage at Chemicals and Materials Domain
Lubricants Market Size: The global lubricants market is expected to reach a market valuation of US$160.2 billion by 2022, accelerating with a CAGR of 4.5% by 2022-2032.
Hydrazine Hydrate Market Growth: With a CAGR of 4.9%, global hydrazine hydrate sales are expected to grow from a valuation of US$444.3 million in 2021 to US$683.1 million US dollars by the end of 2030.
Gold Plating Chemicals Market Snapshot: Future Market Insights (IMF) forecasted demand for gold plating chemicals to see a year-over-year growth of 4.8% in 2022 to reach a value of approximately $445.5 million by the end of 2022. The global business is expected to grow at a growth rate of 4.4% over the forecast period of 2022 and 2030.
Gypsum Market Demand: The global gypsum market is expected to exceed US$4.3 billion in 2022. With demand increasing at a CAGR of 6.2%, the market size will reach US$7.8 billion. here 2032.
Magnesium Sulfate Market Outlook: The global magnesium sulfate market is currently valued at around US$610.2 million and is expected to grow at a CAGR of 5.4% in 2022 to reach a value of US$643.3 million. US dollars by the end of 2022. Global activity is expected to experience a considerable CAGR of 5.8% during the period 2022 and 2030.
Air Barriers Market Forecast: The demand for Air Barriers is expected to grow at a CAGR of 4.6% between 2022 and 2029. Future Market Insights (IMF) forecasts the market value to reach USD 16,932.8 million. by the end of 2022.
Polyisoprene Synthetic Rubber Market Analysis: The global polyisoprene synthetic rubber market is currently valued at around US$2.5 billion and is expected to expand at a healthy CAGR of 6.2% to reach US$4.6 billion. 2032.
Colloidal Silica Market Share: Global colloidal silica market sales are expected to reach US$ 252.0 million in 2022. With favorable demand outlook, the market is expected to grow at a stable CAGR of 3.9 %, reaching US$342.3 million by 2030.
Magnesium Carbonate Market Volume: The global magnesium carbonate market was valued at around US$267.3 million in 2021, registering a year-on-year growth of 4.4%. Sales of magnesium carbonate are expected to grow at a CAGR of 4.7% by 2032.
Metallic Stearates Market Trends: IMF forecasts the global sales of the metallic stearates market to exceed US$3,178.0 million by registering a positive CAGR of 4.2% during the forecast period 2022-2028.
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 6 years.
Future Market Outlook Inc.
200 continental walkway,
Suite 401, Newark,
Delaware – 19713, United States
Such. : +1-845-579-5705
For sales inquiries: [email protected]
Browse all reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs