글로벌 푸르푸랄 용매 시장 – 2029년까지의 산업 동향 및 예측

시장 분석 및 규모

지난 몇 년 동안 푸르푸랄 용매는 무독성 및 낮은 휘발성 유기 화합물(VOC) 함량에 대한 수요가 증가했습니다. 또한 제조 부문에서 강력한 발전이 있었으며, 이는 푸르푸랄 용매 시장 수요에 크게 기여하여 시장의 전반적인 성장을 증가시켰습니다.

글로벌 푸르푸랄 용매 시장은 2021년에 1억 1,903만 달러로 평가되었으며, 2029년까지 1억 5,674만 달러에 도달할 것으로 예상되며, 2022-2029년 예측 기간 동안 3.50%의 CAGR을 기록할 것으로 예상됩니다. Data Bridge Market Research 팀이 큐레이팅한 시장 보고서에는 시장 가치, 성장률, 시장 세그먼트, 지리적 범위, 시장 참여자, 시장 시나리오와 같은 시장 통찰력 외에도 심층적인 전문가 분석, 수입/수출 분석, 가격 분석, 생산 소비 분석, 기후 사슬 시나리오도 포함되어 있습니다.

보고 범위 및 시장 세분화

시장 정의

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.

Restraints/Challenges

• Availability of Furfural Alternatives

The market for furfural solvent is being constrained by the availability of crude oil-based substitute products that are substantially less expensive. In the foundry sector, furan resin is used to make binders. However, a number of primary responders stated that phenolic resin, which is made from crude oil, is less expensive than furan resin. Additionally, polytetramethylene ether glycol (PTMEG), which is used to make spandex for the textile industry, is made with butanediol (BDO). Although THF, a furfural derivative, can be used to manufacture spandex, its greater cost as a result of furfural manufacturing makes it less attractive than BDO.

• Low Furfural Yield From Conventional Technology

The most well-known process, the Quaker Oats technique, is used to convert the chemical furfural, which is generated from biomass, into a variety of chemical compounds and fuels. However, the commercial application of this technique was unable to produce the same results as the pilot tests. Additionally, several investigations have been conducted to comprehend the reaction mechanisms for furfural production from agricultural/wood residues. Scaling up these investigations is the current focus in order to increase furfural yield on a commercial scale. The low furfural yield from the conventional technology will pose as a challenge the furfural solvent market growth rate.

This furfural solvent market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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, geographic expansions, technological innovations in the market. To gain more info on the furfural solvent market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Furfural Solvent Market

The recent outbreak of coronavirus caused a disturbance in the worldwide supply chain, which had a detrimental effect on the solvents market. The market primarily depends on expansion in the construction, automotive, shipbuilding, and aviation manufacturing industries because solvents are used in paints and coatings applications in these sectors. The world's greatest market for manufacturing and construction is China. A severe lockdown in the major regions of China has impeded construction activities. The COVID-19 outbreak, which affected demand for furfural solvent, was the main cause of the decline in paint and coatings demand in the first quarter of this year.

Global Furfural Solvent Market Scope

The furfural solvent market is segmented on the basis of raw material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Raw Material

• Corn Cob
• Rice
• Husk
• Sugarcane Bagasse
• Others

 Application

• Petroleum Refining
• Agricultural Formulations
• Paints and Coatings
• Pharmaceuticals
• Others

Furfural Solvent Market Regional Analysis/Insights

The furfural solvent market is analyzed and market size insights and trends are provided by country, raw material and application as referenced above.

The countries covered in the furfural solvent 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.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rising global demand for different bio-based chemicals within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the growth in construction activities in the region.

보고서의 국가 섹션은 또한 현재 및 미래 시장 추세에 영향을 미치는 개별 시장 영향 요인과 시장 규제의 변화를 제공합니다. 다운스트림 및 업스트림 가치 사슬 분석, 기술 추세 및 포터의 5가지 힘 분석, 사례 연구와 같은 데이터 포인트는 개별 국가의 시장 시나리오를 예측하는 데 사용되는 몇 가지 포인터입니다. 또한 글로벌 브랜드의 존재 및 가용성과 지역 및 국내 브랜드와의 대규모 또는 희소한 경쟁으로 인해 직면한 과제, 국내 관세 및 무역 경로의 영향은 국가 데이터에 대한 예측 분석을 제공하는 동안 고려됩니다.

경쟁 환경 및 푸르푸랄 용매 시장 점유율 분석

푸르푸랄 용매 시장 경쟁 구도는 경쟁자별 세부 정보를 제공합니다. 포함된 세부 정보는 회사 개요, 회사 재무, 창출된 수익, 시장 잠재력, 연구 개발 투자, 새로운 시장 이니셔티브, 글로벌 입지, 생산 현장 및 시설, 생산 용량, 회사의 강점과 약점, 제품 출시, 제품 폭과 범위, 응용 분야 우세입니다. 제공된 위의 데이터 포인트는 푸르푸랄 용매 시장과 관련된 회사의 초점에만 관련이 있습니다.

푸르푸랄 용매 시장에서 운영되는 주요 업체 중 일부는 다음과 같습니다.

• TransFurans Chemicals bvba(벨기에)
• Central Romana Corporation (도미니카 공화국)
• 페나켐, LLC (미국)
• 실바팀 스파(이탈리아)
• ILLOVO SUGAR AFRICA (PTY) LTD (남아프리카 공화국)
• 허베이켐(말레이시아)
• 홍예화학(중국)
• KRBL(인도)
• 머크 KGaA(독일)
• 렌징 AG(오스트리아)
• Tannin Corporation (슬로베니아)
• 허페이 TNJ 화학공업 주식회사(중국)
• 허페이 TNJ 화학공업 주식회사(중국)
•  네스테(핀란드)
• 솔텍스 주식회사(미국)
• Hengyi Industries Sdn Bhd(말레이시아)
• BASF SE(독일)
• 애슐랜드 주식회사(미국)
• 아드롤(미국)
• 산둥 크라운켐산업 주식회사(중국)

SKU-53278