Market Size of Furfural Solvent Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Furfural Solvents Market Analysis
The furfural solvent market is expected to register a CAGR of about 5% during the forecast period. The major factor driving the market studied is the non-toxicity and low volatile organic compound (VOC) content of the furfural solvent. On the flip side, the limited availability of raw material and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The development of various new furfural derivatives is expected to offer various opportunities for the growth of the market.
- The agrochemicals sector is expected to dominate the furfural solvent market over the forecast period.
- Asia-Pacific represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from China, India, and Japan.
