Global Furfural market will reach 1048.88 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/2

There are multiple factors contributing towards the growth of global furfural market. Furfural is produced from the hemicellulose fraction of agriculture residue, which makes it environment friendly. In order to replace non-renewable resources it is used for the production of foundry adhesives, resins, and wetting agents. This is attributed to its properties to dissolve aromatics and other unsaturated olefins. It is also used for extraction of butadiene, lubrication oils, and chemical extraction processes. Other features include excellent chemical, mechanical, thermal properties. Low viscosity and high reactivity gives it an edge over other materials. This material is also used in binding refractory materials and resin-bonded grinding. The construction industry is increasingly demanding furfural for the production of ceramics, fiberglass composites, and bricks.

There is a high demand for sustainable products to replace non-renewable resources. Furfural offers properties that can significantly reduce the use of fossil fuels. These factors are expected to increase the future demand of global furfural market.

The global furfural market was valued at US$731 mn in 2018 is expected to reach US$1048.88 mn by the end of 2025, surging at a CAGR of 4.96% during 2019-2025.

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