The global furfural derivatives markets stood at 985.82 kilo tons in 2017 and is expected to expand at a CAGR of 2.69% to reach 1,172.17 kilo tons by 2024.

Albany, NY -- (SBWire) -- 06/12/2018 --Growing preference for biodegradable products has led to an increased use of furfural derivatives. Significant rise in the use of furfural products in food industry has caused the furfural derivatives market to grow significantly. In its recently added report titled, 'Furfural Derivatives Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2017 – 2024', Market Research Hub (MRH) has detailed the impact of recent trends and developments on the growth of furfural derivatives market.

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Furfural Derivatives Market Lends Impetus to Low Carbon Economy

Industry preferences are fast tilting towards use of green and clean resources that pose no environmental hazards. This has led manufacturers in furfural derivatives market to invest thoroughly in the production of furfural derivatives such that they comply with industry specific needs. Conversion of renewable resources into sustainable building blocks has encouraged furfural derivatives manufacturers to enter into strategic collaborations and programs.

In a program titled, OPZuid, created for the time-frame, 2014-20 is aimed at producing innovation led solutions towards obtaining low-carbon economy. The program has initialized participation from research institutes, government bodies as well as industry veterans. To spearhead superlative outcome in its furfural derivatives production, Avantium, a leading manufacturer in furfural derivatives industry has collaborated with OPZuid on the project, SCeLiO-4B to produce furfural based products such as bioaromatics and other lignin depolymerization products for obtaining better fuel.

Exhaustive summary of research outputs included in the report provide the readers with better understanding about the impact of segments on market growth. Key segment identified in the furfural derivatives market is product type. Based on type, the furfural derivatives market is split as furoic acid, tetrahydrofurfuryl alcohol (THFA), 2, 5-furandicarboxylic acid (FDCA), and others. The information entailed in this section enables readers to understand the impact of segments on the market, along with gaining insights on identifying the segment that contributes largely towards revenue generation in furfural derivatives market.

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Also, the report enlists the impact of various strategies implemented by core players in different regions of furfural derivatives market. Based on region, the market is segmented as Europe, North America, Latin America, Asia Pacific (APAC), and Middle East & Africa.

Key Players in Furfural Derivatives Market

On the basis of information outlined in the report, market players can gain vital inputs about the policies applied by key companies in furfural derivatives market. Market players can analyze these policies in depth and formulate business plans that align with their objective of maximum profit generation. Key players identified in the market are, Ashland, Inc., Avantium, BASF SE, DynaChem Inc., Hongye Chemical Co. Ltd., Corbion NV, Sinochem Qingdao Co. Ltd., Penn A Kem LLC, Nova Molecular Technologies, and Mitsubishi Chemical.

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