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...