Global Furfural Derivatives Market: Overview
Furfural derivatives are produced through feedstock (agricultural waste, corn cobs, wood oil, and others), refining or processing operations in chemical industries, and logistics of primary derivatives (furfuryl alcohol, 2-furoic acid) and secondary derivatives (tetrahydrofuran, tetrahydrofurfuryl alcohol, poly tetrahydrofuran, 2-methyl tetrahydrofuran) globally. The furfural derivatives market is not fully commercialized. Increased demand for products from renewable and biodegradable sources, as well as growing consumption from the food industry have led to increased demand for furfural derivatives. Asia Pacific and Europe are expected to dominate the global furfural derivatives market.
Asia Pacific is the chief producer and consumer of furfuryl alcohol, because China and India contribute the highest consumption. Europe follows Asia Pacific in consumption due to increases in the number of application areas for furfural alcohol and the products of furfural derivatives. The use of furfural derivatives integration in biorefineries is expected to increase across Europe due to their various environmental benefits. Governments in Europe also support bio-based products, since they hold a high potential to provide the foundation for the future environment-friendly economy.
Global Furfural Derivatives Market: Key Research Aspects
This report by Transparency Market Research analyzes, estimates, and forecasts demand for furfural derivatives on the global and regional level for an eight-year period from 2017 to 2024 in terms of volume. The study also provides information on drivers, opportunities, and restraints along with their impact on the overall market during the forecast period. The report segments the market based on product type and by geography, and provides estimates and forecasts of the furfural derivatives market for each segment.
The study analyzes the product value chain, from the feedstock or raw material used to the end-users of primary and secondary derivatives. Additionally, it evaluates the market on the basis of the Porter’s Five Forces model, which analyzes the degree of competition in the market by considering factors such as the bargaining power of buyers and suppliers, the threat of substitute products, and new entrants. The report includes a detailed competitive landscape of the furfural derivative market including company market share analysis and profiles of key market participants.
Global Furfural Derivatives Market: Segmentations
The report provides a decisive view of the furfural derivative market by segmenting it on the basis of product type and geographical region. The types of products segments analyzed in the report include furoic acid, tetrahydrofurfuryl alcohol (THFA), 2, 5-furandicarboxylic acid (FDCA), and others (tetrahydrofuran (THF), methyl tetrahydrofuran (MeTHF) and poly tetrahydrofuran (Poly THF). This segment has been analyzed on the basis of present and future trends, and the market has been estimated from 2017 to 2024. Products such as tetrahydrofuran (THF), 2-methyltetrahydrofuran (MeTHF), poly tetrahydrofuran (poly THF) are the highly attractive segments. Asia Pacific and Europe are expected to dominate the global furfural derivatives market. The increasing application of furfural derivative products is attributed to the inbuilt advantage to increase market share in chemical industries. Government regulation regarding environmental emissions is a major concern around the globe.
The furfural derivatives market has been segmented based on geography into based on geographical regions includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LA). Demand for each segment of the furfural derivatives market in terms of volume for each of these regions has been forecast in the report for the period from 2017 to 2024.
Leading manufacturers profiled in the report include Ashland, Inc., Avantium, BASF SE, DynaChem Inc., Hongye Chemical Co. Ltd., Corbion NV, Sinochem Qingdao Co. Ltd., Penn A Kem LLC, Nova Molecular Technologies, and Mitsubishi Chemical. These companies have been profiled in detail, with features such as company overview, financial overview, business strategies, employee strength, and SWOT analysis included.
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