Report Ocean has released a research study titled “Furfural Market 2023 Forecast to 2031 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Furfural is a heterocyclic aldehyde with the formula C4H3OCHO. It can be produced from agricultural raw materials containing pentosans and lignocellulosic feedstock. It is also obtained from xylose, via dehydration. Furfural is primarily used in the production of furan derivatives such as furan and furfuryl alcohol. Report Ocean predicts the global furfural market will grow from USD 1,108 million in 2021 to USD 1,699 million by 2028, achieving a compound annual growth rate (CAGR) of 6.3 percent.
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The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global furfural market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the furfural industry.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the source, application, end user, and region. The global market for furfural can be segmented by source: bagasse, corncobs, rice husk, others. Furfural market is further segmented by application: chemical intermediates, furfuryl alcohol, pharmaceuticals, solvents, others. The furfuryl alcohol segment held the largest revenue share in 2021. Based on end user, the furfural market is segmented into: chemicals, food & beverages, pharmaceuticals, agricultural formulations, others. Globally, the chemicals segment made up the largest share of the furfural market. On the basis of region, the furfural market also can be divided into: Asia Pacific, Europe, North America, Rest of the World (RoW). Asia Pacific was the largest contributor to the global furfural market in 2021.
By source:
bagasse
corncobs
rice husk
others
By application:
chemical intermediates
furfuryl alcohol
pharmaceuticals
solvents
others
By end user:
chemicals
food & beverages
pharmaceuticals
agricultural formulations
others
By region:
Asia Pacific
Europe
North America
Rest of the World (RoW)
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The report has also analysed the competitive landscape of the global furfural market with some of the key players being KRBL LIMITED, Aurus Speciality Company. Ltd, Central Romana Corporation, Chengde Quanli Industry & Trade Group Co., Ltd., Hebei Xingtai Chunlei Furfuryl Alcohol Co., Ltd., Henan Huilong Chemical Co., Ltd., Hongye Holding Group Corporation Limited, Illovo Sugar Africa (Pty) Ltd, Lenzing AG, Minafin Group (Pennakem LLC), Shandong Longxin Chemical Group Co., Ltd., Shandong Yino Biologic Materials Co., Ltd., Shanxi Province Gaoping Chemical Co., Ltd., Silvateam S.p.a., Tanin d.d. Sevnica, TransFurans Chemicals BVBA, Xingtai Chunlei Furfuryl Alcohol Co., Ltd., among others.
Scope of the Report
To analyze and forecast the market size of the global furfural market.
To classify and forecast the global furfural market based on source, application, end user, region.
To identify drivers and challenges for the global furfural market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global furfural market.
To identify and analyze the profile of leading players operating in the global furfural market.
Why Choose This Report
Gain a reliable outlook of the global furfural market forecasts from 2022 to 2028 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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SWOT Analysis Questions:
Strengths:
- What do your customers love about your company or product(s)?
- What does your company do better than other companies in your industry?
- What are your most positive brand attributes?
- What’s your unique selling proposition?
- What resources do you have at your disposal that your competitors do not?
Weakness:
- What do your customers dislike about your company or product(s)?
- What problems or complaints are often mentioned in your negative reviews?
- Why do your customers cancel or churn?
- What could your company do better?
- What are your most negative brand attributes?
- What are the biggest obstacles/challenges in your current sales funnel?
- What resources do your competitors have that you do not?
Opportunities:
- How can we improve our sales/customer onboarding/customer support processes?
- What kind of messaging resonates with our customers?
- How can we further engage our most vocal brand advocates?
- Are we allocating departmental resources effectively?
- Is there budget, tools, or other resources that we’re not leveraging to full capacity?
- Which advertising channels exceeded our expectations – and why?
Threats:
- What are the negative aspects in the current market?
- Are there potential competitors who can give you a competition in the future?
- What are the obstacles you are facing in the current mission?
- Have you done anything which may lead to a possible lawsuit?
- Are your key staff members satisfied with their wages and other benefits?
- Do you see them being poached by your rivals?
- Do you see a change in consumer taste?
- Are the government regulations going to affect you?
- What are the chances of a natural disaster affecting your production?
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About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
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