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Furfural Solvent Market Outlook and Global Foresight to 2022

Increasing demand for bio-based, renewable chemicals on account of rising sustainability concerns is a vital determinant for industry growth. The Global Furfural Solvent Market is expected to reach USD 153.4 million by 2022, according to a new report by Grand View Research, Inc.


Growth of key end-use industries such as paints & coatings and pharmaceuticals coupled with stringent regulations regarding synthetic chemicals is expected to have a positive influence on the market growth. Growing demand for bio-based sustainable products particularly in developed economies of North America and Europe is also expected to fuel demand for furfural solvent.

Petroleum refining was the largest application segment and accounted for over 55% of total volume in 2014. Increasing petroleum refining activities to meet increasing lubricant demand in automotive and industrial sectors is expected to drive the application segment. Pharmaceutical is expected to witness the highest growth of 16.1% from 2015 to 2022.

To Know More About Furfural Solvent Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/furfural-solvent-market 

Organic, non-toxic and bio-based chemicals have been rapidly replacing conventional solvents as intermediates in several drug formulations. High biocompatibility and non-reactivity has also made furfural solvents ideal in medical industry. Such factors are expected to fuel furfural solvent demand in pharmaceutical industry.

Top Players of Furfural Solvent Market:

Key furfural & derivative manufacturers include BASF SA, Teijing North Furfural Co., Goodrich Sugar & Chemical Ltd., Transfurans Chemicals, Harborchem (Illovo Sugar Ltd.), and Alchem Chemical Co. among others such as Linzi Organic Chemical Inc., Xing Tai Chunlei Furfural Alcohol Ltd., Penn Specialty Chemicals, The Good Scents Co. and Furfural Espanol S.A.

Market Segmentation of Furfural Solvent Market:

The Global Furfural Solvent Market segmented on the basis of Application and Region.

By Application:

Petroleum refining
Agricultural formulations
Paints &coatings
Pharmaceuticals

By Region:

North America
Western Europe
Central & Eastern Europe
China
Rest of Asia Pacific
Rest of the World

Inquire about Furfural Solvent Market with Our Experts @ https://www.grandviewresearch.com/inquiry/2802/ibb 
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