Furfuryl Alcohol Market Scope
The furfuryl alcohol is an organic compound that manufactured by catalytic reduction of furfuran. The raw materials is obtained from corn cobs, wheat brans, oats and sugarcane bagasse. It is used as a wide range of application such as plastics, wetting agents, adhesives and gas hardening process. As the numbers of consumption of furfuryl alcohol are increasing to almost 85% worldwide, due to rising demand for production of biofuels and biochemical. Further, increasing demand from the developing countries owing to growth in the machinery and wind mill industries owing to increasing application of furfuryl alcohol as chemical additive expected to drive the demand for furfuryl alcohol over the forecasted period.
According to AMA, the Global Furfuryl Alcohol market is expected to see growth rate of 5.2%
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Furfuryl Alcohol market throughout the predicted period.
Hongye Holding Group Corp., Ltd. (China), Zibo Huaao Chemical Co., Ltd. (China), International Furan Chemicals B.V. (The Netherlands), China XLX Fertilizer Ltd. (China), Aurus Speciality Company Limited (Thailand), Xingtai Chunlei Furfuryl Alcohol Co., Ltd. (China), Silvateam (Italy), Shijiazhuang Worldwide Furfural (China), Furfuryl Alcohol Furan Resin Co. Ltd. (China), KRBL Ltd. (India) and Illovo Sugar (PTY) Ltd (South Africa) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Pennakem, LLC (United States), Central Romana Corporation (Dominic Republic), Lenzing Group (Austria) and Behran Oil Co. (Iran).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Furfuryl Alcohol market by Type (Polymer, Wetting Agent, Solvents and Adhesives), by Application (Bio-fuel, Tetrahydrofurfuryl alcohol, Pharmaceuticals and Pesticides) and Region with country level break-up.
On the basis of geography, the market of Furfuryl Alcohol has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Silva team introduced a furfuryl alcohol which is a colorless organic liquid that produced at Argentina region which is beneficial in providing catalytic hydrogenation process at high pressure, starting from furfural. It is also used for production of production of thermosetting resins and resistant to chemicals and solvents.
“According to United States International Trade Commission, its determines pursuant to the Tariff Act of 1930 (“the Act”), that revocation of the antidumping duty order on furfuryl alcohol from China would be likely to lead to continuation or recurrence of material injury to an industry in the United States within a reasonably foreseeable time.”
Market Trend
- Upsurge widely used in binders for traditional furan no-bake systems
- Rising demand of furfuryl alcohol in foundry industry
Market Drivers
- Increased Demand Of Bio-Based Products In Worldwide.
- Rising Awareness Among Customers Regarding Usage Of Furfuryl Alcohol.
Opportunities
- Increasing Demand of Plastic in Construction and Paints Industries.
- Research And Development in The Field Of Rocketry Boost The Furfuryl Alcohol Market.
Restraints
- Stringent Environmental Regulations Hampers The Growth Of Market.
- Issue Related Export and Transport of Furfuryl Alcohol.
Challenges
- Health Problems Such As Irritation, Burning And Shortness Of Breathing Associated With Furfuryl Alcohol.
Key Target Audience
Furfuryl Alcohol Manufacturers, Opioids Drugs Traders, End-Use Market Participants of Different Segments of Furfuryl Alcohol, Government and Research Organizations, R&D Institutions and Others