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Furfuryl Alcohol Market Size, Growth, Trends, Share, Industry Opportunities and Forecast to 2024

Author : Ronak Bora | Published Date : 2019-05-17 

Global Furfuryl Alcohol Market Forecast to 2024 released By Global Market Insights, Inc. provides market information about industry top key players, countries, type and application. This report also states company profile, sales, market revenue and price, market share, market growth and gross margin by regions, strategic recommendations for the new entrants, market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.

Asia Pacific led by Japan, India, and China furfuryl alcohol market size may witness strong gains. Growing population has led to rise in food products demand mainly in India and China which is resulting in high pesticide requirements to obtain quality yields. Tetrahydrofurfuryl alcohol is widely used in pesticides as eco-friendly speciality solvent which is likely to fuel product demand in this region.

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North America, driven by U.S. furfuryl alcohol market size may witness steady growth. Increasing consumer spending on renovation and remodelling activities is likely to drive construction industry growth thereby stimulating product demand. Favourable regulatory norms by EPA and FDA regarding product derivatives approval as inert ingredient in pesticides for pre-and post-harvest application may drive regional growth.

Europe driven by U.K, France & Germany furfuryl alcohol market may witness significant gains due to rising demand in cement, pesticides and anti-corrosion coatings industrial applications. Stringent environmental policy is likely to boost bio polymer production should favour regional industry growth.

Furfuryl Alcohol Market size may witness a significant growth over the foreseeable timeframe owing to application potential as polymer, wetting agent, solvents and adhesives. It is an organic compound obtained by furfuran catalytic reduction and considered as a green chemical.

Furfuryl alcohol market is categorised under biopolymer obtained from eco-friendly sources. Increasing demand for bio polymers mainly and Europe and North America owing to rising environmental concerns and regulatory compliances may propel industry growth.

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Global anti- corrosion coating market was valued at over USD 23 billion in 2016 and expected to further grow as corrosion is predicated to contribute heavy financial losses by gradually weakening construction materials. Coating is effective solution to protect material and extend its life. furfuryl mono polymers have exceptional corrosion-resistant property but the coating formed is brittle in nature. To overcome this problem epoxy resins are added to furfuryl alcohol making it tougher, increasing adhesiveness, imparting higher resistance to abrasion and heating properties. It is also applied to pitted and corroded steel to extend its existing life. Expanding coating industry owing rising demand from end use industry such as healthcare, residential, commercial and automotive may fuel product demand.

TransFurans Chemicals a leading manufacturer for biomass based chemicals have recently developed furfuryl alcohol from sugarcane for building & construction and wood modification applications. This bio based alcohol is further polymerized to polyfurfuryl alcohol in polymer industry application.Furfural, corn cobs and sugar cane molasses are essential raw material for furfuryl alcohol manufacturing. High raw material cost may challenge industry profitability thereby affecting product price trend.

Global furfuryl alcohol market share is moderately fragmented. Key players operating in this industry are TransFurans, Penn A Kem, Dyna Chem, Nova Molecular technologies, SolvChem, SweetLake Chemical, Neu Chem, Novasorganics Romana, International Furan Chemicals and Sugar Illovo.

Companies are engaged in strategic alliances to enhance their product portfolio may drive industry growth.

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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