Furfural Market Global Outlook, and Opportunity Analysis, 2022-2028

 

Furfural Market
Furfural Market 

An organic substance called furfural is created from agricultural wastes that are high in pentosans. This organic chemical is created through hydrolysis of agricultural wastes that are rich in pentosans. Corncobs, bagasse, rice husk, switchgrass, and algae are a few of the typical feedstock used to make this chemical. The organic compound is regarded as one of the most prominent renewable chemicals due to the nature of its raw material. Currently, furfuryl alcohol applications account for the majority of this organic compound's production. On the basis of raw material, application, end user, and region, the furfural market has been divided into segments.

The furfural market has been divided into sections based on the raw materials used, including rice husk, sugarcane bagasse, and corn cob. Technologies like the "SAVO" and "Quaker Oats" processes are used to produce the product. Two of the most popular raw materials for the production of this organic compound are corn cob and sugarcane bagasse. However, compared to other raw materials used to produce furfural, rice husk raw material offers a significantly lower cost advantage.

The furfural market has been divided into furfuryl alcohol, solvent, butadiene extraction, flavouring intermediates, and others based on applications. In 2017, the furfuryl alcohol application dominated the market, and this trend is not expected to change over the course of the forecast. Furan resin, a crucial chemical feedstock for the production of thermoset polymer matrix composites, adhesives, cements, casting resins, and coatings, is primarily made using furfuryl alcohol. The organic substance is also employed in the refining of petroleum as a solvent. There are currently only a few nations from Europe and North America that use the chemical as flavouring intermediates.

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