Posted 12/8/2023, 7:30:00 AM
Furfural Market Size to Reach $767 Million by 2028, Driven by Growing Demand for Furfuryl Alcohol
- Furfural market size projected to reach $767 million by 2028, growing at a CAGR of 2.9% from 2023-2028
- Corncob is the predominant raw material used for furfural production due to its high xylose and pentosan content
- Furfuryl alcohol is a key furfural derivative driving growth due to demand from diverse end-use industries
- Asia Pacific dominated the market in 2022, with China being the major producer and consumer globally
- Expanding applications of furfural in agriculture, pharmaceuticals, and coatings industries is boosting market growth