Asia Pacific Furfural Derivatives Market Size & Outlook
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Asia Pacific furfural derivatives market highlights
- The Asia Pacific furfural derivatives market generated a revenue of USD 8,258,588.1 million in 2022.
- The market is expected to grow at a CAGR of 8% from 2023 to 2030.
- In terms of segment, tetrahydrofuran was the largest revenue generating application in 2022.
- Tetrahydrofurfuyl Alcohol is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 8,258,588.1 million |
| Market revenue in 2030 | USD 15,321,409.9 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Tetrahydrofuran |
| Fastest growing segment | Tetrahydrofurfuyl Alcohol |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | 1-5 Pentanediol, Furoic Acid, Tetrahydrofuran, 2 Methyl Tetrahydrofuran, 2 Methylfuran, Maleic Anhydride, Cyclopentanone, Tetrahydrofurfuyl Alcohol |
| Key market players worldwide | Pyran Inc., Pennakem LLC, TransFurans Chemicals, Basf SE, Ube Corp, Ab Enterprises, Hefei TNJ Chemical Industry Co., International Furan Chemicals |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 66.1% of the global furfural derivatives market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 15,321,409.9 million by 2030.
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Furfural Derivatives Market Scope
Furfural Derivatives Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| International Furan Chemicals | View profile | 11-50 | Rotterdam, Zuid-Holland, The Netherlands, Europe | https://www.furan.com |
| Ab Enterprises | View profile | 11-50 | Bhubaneswar, Orissa, India, Asia | https://www.abentp.com |
| Pennakem LLC | View profile | 101-250 | Memphis, Tennessee, United States, North America | http://pennakem.com |
| Pyran Inc. | View profile | 11-50 | Madison, Wisconsin, United States, North America | https://pyranco.com/ |
| Hefei TNJ Chemical Industry Co. | View profile | 51-100 | Hefei, Anhui, China, Asia | http://www.tnjchem.com |
| TransFurans Chemicals | View profile | 11-50 | Geel, Antwerpen, Belgium, Europe | https://www.transfurans.be |
| Ube Corp | View profile | 8019 | Seavans North Building, 1-2-1, Shibaura, Minato-Ku, Tokyo, Japan, 105-8449 | https://www.ube.co.jp |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
Asia Pacific furfural derivatives market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to furfural derivatives market will help companies and investors design strategic landscapes.
Tetrahydrofuran was the largest segment with a revenue share of 59.18% in 2022. Horizon Databook has segmented the Asia Pacific furfural derivatives market based on 1-5 pentanediol, furoic acid, tetrahydrofuran, 2 methyl tetrahydrofuran, 2 methylfuran, maleic anhydride, cyclopentanone, tetrahydrofurfuyl alcohol covering the revenue growth of each sub-segment from 2018 to 2030.
The pharmaceuticals market in Asia Pacific is driven by various government initiatives to provide affordable prescription drugs to citizens and enable a favorable environment for foreign investments. Agriculture waste and biomass feedstock, such as rice husks, corn cobs, and sugarcane bagasse, are abundant in the region and are critical for furfural production.
The regional market is distinguished from international markets on account of the presence of several small players having in-line manufacturing capabilities. The furfural derivatives market is anticipated to register a significant growth rate over the forecast period on account of favorable government regulations and the availability of low-cost labor and raw materials.
Pharmaceutical companies in Asia Pacific are becoming more concerned with decreasing their environmental impact. For instance, according to the India Brand Equity Foundation, the Strengthening of Pharmaceutical Industry (SPI) scheme by the Ministry of the Government provides financial assistance of up to USD 60.24 million to existing pharma clusters and Micro, Small & Medium sized Enterprise (MSMEs) to improve their quality, productivity, and sustainability in the pharmaceutical industry.
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Our clientele includes a mix of furfural derivatives market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific furfural derivatives market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific furfural derivatives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific furfural derivatives market size, by country, 2018-2030 (US$M)
Asia Pacific Furfural Derivatives Market Outlook Share, 2022 & 2030 (US$M)
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