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Description
The global Furfural market is estimated to be valued at US$ 460.3 Mn in 2020 and is poised to grow around 6.1% CAGR over 2020-2021. Growing environmental concerns, increase in consumption of pesticides and fungicides in the agriculture sector, growing awareness regarding using eco-friendly products and changing trends in food & beverages in customers are some key factors fueling the market growth. In addition, increasing demand from emerging economies provides huge growth opportunities for the market. Global Furfural market report gives a comprehensive outlook on furfural across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The report on the global market gives historical, current, and future market sizes (US$ Mn) on the basis of raw materials, catalyst type, application, end-user, and region. This report studies Global market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global furfural market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the global furfural market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policymakers, and healthcare service providers engaged in global furfural products. Global Furfural market is surging owing to frequent acquisitions and launchings by the market players. For Instance, Chinese producers hold the lion share of the market and hence the global prices of the material is mainly determined by the Chinese domestic issues including labor cost, government policies, and natural calamities. The presence of a large number of small-scale manufacturers imposes threats to the large MNCs in terms of their price.
