North America Furfural Derivatives Market Size & Outlook
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North America furfural derivatives market highlights
- The North America furfural derivatives market generated a revenue of USD 1,580,046.8 million in 2022.
- The market is expected to grow at a CAGR of 5.8% from 2023 to 2030.
- In terms of segment, maleic anhydride 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, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 1,580,046.8 million |
| Market revenue in 2030 | USD 2,489,975.1 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Maleic anhydride |
| 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, North America region accounted for 12.7% 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 |
North America 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.
Maleic anhydride was the largest segment with a revenue share of 52.27% in 2022. Horizon Databook has segmented the North America 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.
According to the World Bank, the agriculture land in North America increased from 4,627,040 square km in 2015 to 4,635,537 square km in 2020, with a common cereal productivity of 1.44 t ha-1 in 2018. Furthermore, according to the United States Department of Agriculture, grain production in North America increased from 437,578 thousand metric tons in 2018/2019 to 454,922 thousand metric tons in 2021/2022.
The increase in agricultural land coupled with the increasing production of cereals and food crops is propelling the production of bio-based furfural derivatives in the region. In North America, the rising focus on minimizing environmental impact is likely to boost the demand for furfural derivatives in several applications.
As research and technology continue to advance, the applications of furfural derivatives are expected to further evolve, contributing to advancements in chemical, pharmaceuticals, and sustainable agriculture practices.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America furfural derivatives market , including forecasts for subscribers. This continent databook contains high-level insights into North America furfural derivatives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America furfural derivatives market size, by country, 2018-2030 (US$M)
North America Furfural Derivatives Market Outlook Share, 2022 & 2030 (US$M)
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