Furfural Market Research: Uncovering Demand, Growth, and Upcoming Trends
The furfural industry refers to the production and commercialization of furfural, a chemical compound derived from various agricultural wastes such as corncobs, oat hulls, and sawdust. Furfural is produced by acid hydrolysis of pentosans, which are complex carbohydrates found in lignocellulosic biomass. The furfural market size is estimated to grow up to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period. Furfural is a versatile compound that has numerous applications in various industries. It is primarily used as a solvent in the refining of lubricating oils and as a raw material for the production of various chemicals such as #furfurylalcohol , which is used in the manufacture of #resins , #adhesives , and #coatings . Furfural is also used as a starting material for the synthesis of pharmaceuticals, agrochemicals, and flavoring agents. Additionally, furfural has applications in the production of renewable fuels s...