Furoic Acid Market- Industry Value Forecast, Dynamics, growth, potential, segments, market share, Size, online PDF Report, Free Sample Copy, Future projection, Analysis, supply and demand, trends, opportunities, Product types, Regions, current market, worth, overview, Competition Landscape and Dashboard.
New York, NY -- (SBWIRE) -- 01/22/2018 -- 2-Furoic acid is a carboxylic acid with aromatic ring and carboxylic group. It is categorized into specialty chemical. 2-furoic acid is generally used as a food preservative and flavoring agent. It is used in pasteurization and sterilization of food products. It acts as a fungicide and bactericide. In addition, it is also used in optic technologies, nylon preparation and as an intermediate in pharmaceutical industry.
The market for 2-furoic acid was mainly driven by food manufacturing sector. 2-furoic acid is also used as a starting material in furoate esters production. The derivatives of 2-furoic acid are used in medicinal preparations and biological research. The major opportunity for 2-furoic acid market is optic technology. 2-Furoic acid crystals can be used in optical devices due to its favorable properties such as non linear optical material (NLO). However, health hazards related to 2-furoic acid such as mutagenic effects are likely to inhibit the market growth.
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In terms of demand, North America was the leading region for 2-furoic acid market in 2012. The demand for 2-furoic acid is huge due to growing consumption from food industry. North America was followed by Europe, owing to huge demand of 2-furoic acid in medical applications. In addition, optic technology is likely to drive the market for 2-furoic acid in European region. Asia Pacific has substantial share in 2-furoic acid market and is expected to exhibit higher demand in the near future due to various manufacturing activities. Rest of the World is expected to witness stable growth for 2-furoic acid market.
Some of the major industry participants include Lotus Enterprise, Meryer Chemical Technology Co. Ltd., Alfa Aesar and J & K Scientific Ltd. among others.
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