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$971.1 Million Worldwide Furfural Industry to 2027 - Impact of COVID-19 on the Market

Research and Markets
·3-min read

Dublin, Feb. 26, 2021 (GLOBE NEWSWIRE) -- The "Furfural - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 6th edition of this report. The 284-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Furfural Market to Reach $1.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Furfural estimated at US$971.1 Million in the year 2020, is projected
to reach a revised size of US$1.9 Billion by 2027, growing at a CAGR of 10.2% over the analysis period 2020-2027.

Furfural Alcohol, one of the segments analyzed in the report, is projected to record a 10.5% CAGR and reach US$1.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solvents segment is readjusted to a revised 9.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $262.4 Million, While China is Forecast to Grow at 13.5% CAGR

The Furfural market in the U.S. is estimated at US$262.4 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$410 Million by the year 2027 trailing a CAGR of 13.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.

Other Applications Segment to Record 8% CAGR

In the global Other Applications segment, USA, Canada, Japan, China and Europe will drive the 7.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$78.8 Million in the year 2020 will reach a projected size of US$130.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$276.4 Million by the year 2027, while Latin America will expand at a 9.4% CAGR through the analysis period.

Competitors identified in this market include, among others:

  • Furnova Polymers Ltd.

  • Harborchem

  • Lenzing AG

  • Linzi Organic Chemical Inc. Ltd.

  • Silvateam SpA

  • Tanin Sevnica d. d.

  • TransFurans Chemicals bvba

  • Zhucheng Taisheng Chemical Co., Ltd.

  • Zibo Huaao Chemical Co., Ltd.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Global Competitor Market Shares

  • Furfural Competitor Market Share Scenario Worldwide (in %): 2019 & 2025

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 41

For more information about this report visit https://www.researchandmarkets.com/r/2vfl3g

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900