The Global Furfuryl Alcohol Market is estimated to exhibit a CAGR of 6.50% during the forecast period of 2022-2029. Increasing demand for optical devices by almost every end user industry especially in the developing economies such as India and China, growing use of furfuryl alcohol by a wide range of end user verticals such as foundry, paint and coatings, pharmaceuticals, agriculture, food and beverages are the major factors attributable to the growth of the furfuryl alcohol market.
However, insufficiency in raw material supply owing to the lockdown and restrictions will pose a major challenge to the growth of the market.
According to Data Bridge Market Research, the furfuryl alcohol market will exhibit a significant rise in its market value. Rise in demand by foundry sector especially from China coupled with growing application in butadiene, naptane and other lubricants, growth in the buildings and constructions activities coupled with surge in the technological advancements in industrial chemical manufacturing process will further carve the way for the growth of the market.
Currently, Asia-Pacific will dominate the global furfuryl alcohol market owing to the consistent sales in the number of automobiles. Asia-Pacific will continue to undergo substantial gains during this period owing to the growth and expansion of end user verticals in this region, abundant availability of raw materials and surging urbanization and construction of smart cities.
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The global furfuryl alcohol market is segmented on the basis of countries into U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Key Market Competitors Covered in Furfuryl Alcohol Market report
Above are the key players covered in the report, to know about more and exhaustive list of furfuryl alcohol market companies contact, https://www.databridgemarketresearch.com/toc/?dbmr=global-furfuryl-alcohol-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Furfuryl Alcohol Market – Industry Trends and Forecast to 2028