Global Furfuryl Alcohol Market, By Raw Material (Corncobs, Rice Hulls, Cotton Hulls, Sugarcane Bagasse and Others), Application (Resins, Solvents, Plastics, Adhesives, Corrosion Inhibitors, Polymers, Wetting Agent and Others), End User Industry (Foundry, Paint and Coatings, Pharmaceuticals, Agriculture, Food and Beverages and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Furfuryl Alcohol Market
Data Bridge Market Research analyses that the furfuryl alcohol market will witness a CAGR of 6.50% for the forecast period of 2021-2028. Increasing demand for optical devices by almost every end user industry especially in the developing economies like 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 and other end user verticals and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the furfuryl alcohol market. Therefore, the furfuryl alcohol market value, which was USD 501 million in 2019, will rocket up to USD 883.04 million by 2028.
Also known as 2-furylmethanol or 2-furancarbinol, furfuryl alcohol is an organic compound that is colourless or pale yellow in appearance. Having a chemical formula of C4H3OCH2OH, furfuryl alcohol is used for a wide range of industrial applications. In its chemoical composition, the furan circle hydrogen is substituted by a hydroxymethyl group. The furfuryl alcohol compound is extremely reactive owing to its thermal decomposition properties.
Rise in demand by foundry sector especially from China coupled with growing application in butadiene, naptane and other lubricants is the root cause fuelling up the market growth rate. Rising industrialization coupled with growth and expansion of various end user verticals such as pharmaceutical and food and beverages industries especially in the developing economies will also directly and positively impact the growth rate of the market. 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.
However, insufficiency in raw material supply owing to the lockdown and restrictions will pose a major challenge to the growth of the market. Fluctuations in the prices of raw materials will dampen the market growth rate. Also, seasonality of the agricultural raw materials will further derail the market growth rate. Dearth of skilled professionals in the underdeveloped economies will also impede the market growth rate.
This furfuryl alcohol market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on furfuryl alcohol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Furfuryl Alcohol Market Scope and Market Size
The furfuryl alcohol market is segmented on the basis of raw material, application and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of raw material, the furfuryl alcohol market is segmented into corncobs, rice hulls, cotton hulls, sugarcane bagasse and others.
- On the basis of application, the furfuryl alcohol market is segmented into resins, solvents, plastics, adhesives, corrosion inhibitors, polymers, wetting agent and others.
- On the basis of end user industry, the furfuryl alcohol market is segmented into foundry, paint and coatings, pharmaceuticals, agriculture, food and beverages and others.
Furfuryl Alcohol Market Country Level Analysis
The furfuryl alcohol market is analysed and market size, volume information is provided by country, raw material, application and end user industry as referenced above.
The countries covered in the furfuryl alcohol market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the furfuryl alcohol market and will continue to flourish its dominance during the forecast period 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.
The country section of the furfuryl alcohol market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Furfuryl Alcohol Market Share Analysis
The furfuryl alcohol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to furfuryl alcohol market.
The major players covered in the furfuryl alcohol market report are DynaChem South Africa (Pty) Ltd., The Chemical Company, Dow, BASF SE, Pennakem, LLC, Nova Molecular Technologies., Continental Industries Group, Inc.., SHENZHEN SHUHANG INDUSTRIAL DEVELOPMENT CO.,LTD., SolvChem., Neuchem., Novasynorganics., International Process Plants, TransFurans Chemicals bvba, Illovo Sugar Africa Proprietary Limited, Linzi Organic Chemical Inc. Ltd., DalinYebo, hebeichem, Silvateam S.p.a., Shandong Crownchem Industries Co., Ltd and Furnova Polymers Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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