Furfural Derivatives Market to Reach USD 21.4 Billion by 2032 Driven by Increasing Demand in Bio-Based Industrial Applications | Report by SNS Insider [Yahoo! Finance]
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Source: Yahoo! Finance
applications and policies promoting the adoption of renewable chemical solutions. Austin, Dec. 18, 2024 (GLOBE NEWSWIRE) -- As per the latest research report of SNS Insider, “ The Furfural Derivatives Market Size was valued at USD 13.2 Billion in 2023 and is expected to reach USD 21.4 Billion by 2032 and grow at a CAGR of over the forecast period 2024-2032. ” The furfural derivatives market is witnessing robust growth, fueled by rising demand for bio-based chemicals across pharmaceuticals, automotive, and chemicals industries. Derived from agricultural residues like corn cobs and rice husks, furfural derivatives, including furfuryl alcohol, furoic acid, and tetrahydrofurfuryl alcohol, serve as eco-friendly and cost-effective alternatives for resins, solvents, and specialty chemicals. Regulatory pressures in Europe and North America are driving a shift from petrochemical-based to bio-based products, while advancements by key players like International Furan Chemicals B.V., Lenzing
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