Furfural Solvent Market Analysis : Size, Share, Sales, Growth, Revenue, Type, Application & Forecast to 2029

The Global Furfural Solvent Market report can be used well by both established and new players in the Data Bridge Market Research industry for absolute understanding of the market. With the comprehensive analysis of the market, it puts forth overview of the market regarding type and applications, featuring the key business resources and key players. The report identifies the most recent improvements, market share, and systems applied by the significant market. The Furfural Solvent market report offers a great understanding of the current market situation with the historic and projected upcoming market size based on technological growth, value and volume, projecting cost-effective and leading fundamentals in the market.

An excellent Furfural Solvent market report provides detailed market analysis with inputs from industry experts. The market type, size of the organization, availability on-premises and the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa are taken into account while generating this global market report. The research studies accomplished in this business report assists to estimate several important aspects that includes but are not limited to investment in a rising market, success of a new product, and expansion of market share. Global market research analysis via the Furfural Solvent marketing report brings a vast market place clearly into the focus.

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furfural solvent has increased demand for the non-toxicity and low volatile organic compound (VOC) content. Additionally, there has been strong development in manufacturing sector, which have significantly contributed to the furfural solvent market’s demand, thus increasing the overall growth for the market.

Global furfural solvent market was valued at USD 119.03 million in 2021 and is expected to reach USD 156.74 million by 2029, registering a CAGR of 3.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

Furfural alcohol, also known as 2-furylmethanol is basically furan with a hydroxymethyl group added is the basis of the chemical molecule. Bagasse from sugarcane and corn cobs are used to make furfural. By reducing furfural with a catalyst, furfural alcohol is produced. Furfural alcohol is typically employed as a solvent, but its principal application is as a chemical intermediary in the production of numerous other compounds, including wetting agents, adhesives, and foundry resins.

Furfural Solvent Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Demand for Furfural Solvents

In refineries, furfural solvent is frequently used to extract butadiene, naptane, and other lubricants. Other industrial extraction procedures also employ furfural. Quaker batch processing and Rosenlew continuous processing are used to create furfural solvent. Tetrahydrofurfuryl alcohol (THFA), which is frequently utilized in the pharmaceutical business, is also produced using it. The World Foundry Organization predicts that the foundry market in India, which is anticipated to be the second-largest in the world after China, will expand by 13.0–14.0 percent through 2025. As a result, the market for furfural is being driven up by the expanding foundry sector's demand for furfural alcohol.

• Increased Usage Across Agrochemicals

Around 2.7 billion acres of land had the potential to be used for crop production as of 2019, mostly in Asia-Pacific, South and Central America, and Sub-Saharan Africa. Different agrochemicals, including insecticides, fungicides, and herbicides, are made using the furfural solvent. In the agrochemicals described above, furfural solvent has substituted hazardous components. The agrochemical market is expected to develop at a CAGR of roughly 4% during the projected period to keep up with the rising demand for food from the world's ever-increasing population. As a result, it is anticipated that demand for the furfural solvent market would increase throughout the projected period due to the growing demand from the agrochemicals segment.

The non-toxicity and low volatile organic compound content of furfural solvent will further propel the growth rate of furfural solvent market. Additionally, the furfural chemicals are experiencing faster market expansion due to rising consumer demand for bio-based, environmentally friendly, and renewable chemicals. The expansion and growth of the various end use industries are projected to bolster the growth of the market.

Opportunities

• Favorable Legislation and Technological Developments

Furthermore, the demand for organic chemicals across various sectors is expanding due to favorable legislation regarding the incorporation of bio-based products in certain end-use industries, which further extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the technological developments in the furfural manufacturing process will significantly increase the production yield from important raw materials, producing economies of scale, which will further expand the future growth of the furfural solvent market.

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TABLE OF CONTENT

1. Furfural Solvent Market Overview.

2. Global Furfural Solvent Market Competition by Manufacturers.

3. Global Furfural Solvent Production Market Share by Regions.

4. Global Furfural Solvent Industry Supply chain Analysis.

5. Global Furfural Solvent Company Profiles, Production, Revenue, Price Trend by Type.

6. Global Furfural Solvent Market Analysis by Applications.

7. Marketing Channel, Distributors, and Customers.

8. Furfural Solvent Import, Export, Consumption, and Consumption Value by Major Countries.

9. Global Furfural Solvent Market Forecast & Market Dynamics.

10. Tables and figures.

11. Research Findings and Conclusion.

TOC of This Report @https://www.databridgemarketresearch.com/toc/?dbmr=global-furfural-solvent-market

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