Furfural Market Worth $923.89 Million By 2030 | CAGR 6.5%
Furfural Industry Overview The global furfural market size is expected to reach USD 923.89 million by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 6.5% over the forecast period. Market growth can be attributed to the developments of novel derivatives, such as THF, by key manufacturers, resulting in the expansion of the application segment. In addition, favorable regulations concerning the inclusion of bio-based products in several end-use industries are penetrating the demand for organic chemicals across several industries, thus triggering market growth. Technological advancements in the manufacturing process of furfural are estimated to considerably surge the production yield from key raw materials, thus achieving economies of scale. Furfural Market Segmentation Grand View Research has segmented the global furfural market on the basis of process, raw material, end-use, and region: Based on the Process Insights, the market is segm...