“Global Furfural Market: Type, Application, Growth Rates and Shares, and Forecast: 2020–2030” is a report recently produced by Marketresearch.biz. The global furfural market was valued at $561.7 Мn in 2020, and is projected to register а САGR of 5.4% by the year 2030.
Food production is increasing at an unprecedented rate across the world, and as a result, farming operations have been scaled-up by a majority of nations. Furfural compounds are used to manufacture crop insecticides, nematocides, and fungicides.
The organic compound furfural is a colorless liquid, and the chemical formula is C4H3OCHO, aldehyde attached at 2-position of furan. It is obtained from various biomass materials such as corncobs, rice hulls, sugarcane, wheat bran, sawdust, cotton husk, oat husk, etc. Furfural is created from the hemicellulose component (pentosans) of vegetal matter by hydrolysis. The production process of furfural entails drying, grinding, sieving of feedstock, and further treatment of product with an acid at a high temperature.
Furthermore, furfural processing produces a wide range of vital pharmaceutical manufacturing chemicals, including furfural alcohol, THF, maleic acid, MTHF, 1, 5pentanediol, and others. The majority of these products have numerous medicinal applications as an intermediary, for example, some drugs, use (2S)-phenyl-3piperidone.
Key industry players of this market are – Illovo Sugar Africa (Pty.) Ltd., Central Romana Corporation, TransFurans Chemicals bvba, Pennakem LLC, Hebeichem, Silvateam S.p.a, Lenzing AG, and Linzi Organic Chemical Inc. Ltd.
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