July 27, 2022 10:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, July 27, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global furfural market is estimated to register growth at a CAGR of 5.5% during the forecast period from 2022 to 2031, notes a review by Transparency Market Research (TMR).
The global market study on furfural market by TMR offers in-depth analysis of varied factors influencing the growth curve of the market. Hence, readers gain access to detailed study of the growth drivers, challenges, threats, expansion opportunities, and technological advancements in the market for furfural.
5 methyl furfural refers to a natural product generally found in Castanopsis cuspidata, Campsis grandiflora, and other organisms, notes a TMR study on the global furfural market. This type of furfural is being increasingly utilized as a food additive and synthetic intermediate. Moreover, hydroxymethyl furfural is known as a food improvement agent and is being utilized in the production of biomass-derived polymers and fuels. Rise in the use of hydroxymethyl furfural in food industry as a flavoring agent and biomarker in different food products is bolstering the global furfural market.
The furfural market in Asia Pacific is estimated to gain prominent business opportunities during the forecast period. The market growth is ascribed to many factors including a rise in the use of product in China, in which there are many manufacturing companies. Furthermore, the easy accessibility to raw materials in the nation is contributing to the overall growth of the furfural market in Asia Pacific.
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