Furfural is organic compound non petroleum based chemical feedstock which is derived from agriculture by products including rice husk, corncob and sugarcane bagasse. It is produced from lignocellulose biomass by dehydrating pentose in step by step process. Growing importance of bio fuels supported by shifting trends towards bio based chemical owing to rising environmental concerns will accelerate product demand.
Application potential of furfural as a solvent in bioplastics, bio renewables and polymers is likely to act as a major contributing factor towards industry growth. It is a reactive solvent and excellent wetting agent which is used in extraction of aromatic compounds present in diesel fuels and lubricating oils.
Furfural and furfuryl alcohol in alone or in combination with phenol and acetone are used to make resins which further has application in manufacturing automotive parts and aircraft components. Moreover, it also finds application in in making jet fuel range alkene and in gasoline blend stock. Increase in air traffic owing to rising affordability of air fares supported by growing utilization of aircrafts in courier services for fast delivery will surge aircraft production, thus driving demand for furfural and its derivatives.
The report analyses the global furfural market based on raw material, application, end user and geography
Various raw material studied are segmented into reduced sugarcane basses, corncob, rice husk, others. Corn cob is highly preferred raw material containing 30% to 32% pentosan simple sugar for furfural production which is available in abundance as an agriculture waste along with high content of hemicellulose. In addition left over corn biomass can be further used in energy production.
Various application studied include furfuryl alcohol, solvents, intermediates, others. Furfuryl alcohol is widely used in furan resins production which has application in foundry industry owing to heat resistance and corrosion resistant material. Furan resin is also used in making metal casting in all sizes particularly in molds and larger core production. Terahydrfurfuryl alcohol (THFA) which is a furfyl alcohol derivative is used in flavours, fragrance chemicals, pharmaceuticals and pesticides. These factors will have positive impact on product demand.
Furthermore, the major end use considered in the study is paints & coatings, agriculture, pharmaceuticals, food & beverage, refineries, polymers. Furfural market in agriculture application may show significant gains over the forecast timeframe. Furfural is used as horticulture and agriculture weed killer. It is an active ingredient in various nematicides along with giving proper impact through small concentrations along with safe and easy application. Growing demand in crop protection market due to shifting trends towards increasing productivity and yield by maintaining environment safety in agrochemicals will favour industry growth.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. Asia Pacific led by India, Japan and China accounted for large share in the market and will continue its dominance over the forecast timeframe. High production and demand for furfuryl alcohol mainly in China owing to growing demand for furan resins in end use industries such as paints & coatings, construction and aviation industry. Abundant supply of raw material due to India and China being agriculture economies will act as another contributing factor towards industry growth in this region.
The key players in the furfural market share are Pennakem, Illovo Sugar Africa, Lenzing, Transfurans Chemicals, Silvateam, Hongye Holding Group Corporation, KRBL, TCI Chemicals, Laxmi Furals Private Limited, International Furan Technology, Furnova Polymers, Aurus Specialty Chemicals, Zhucheng Taisheng Chemical. Companies are focusing on technical development in production process for higher yield which might help in combating low yield process challenges.
The report analyses the global furfural market based on type, application, end user and geography. Various type studied are segmented into reduced sugarcane basses, corncob, rice husk, others. Various application studied include furfural alcohol, solvents, intermediates, others. Furthermore, the major application considered in the study is paints & coatings, agriculture, pharmaceuticals, food & beverage, refineries, polymers.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
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