Furfural Market is predicted to reach USD 860.8 Million by 2030

According to the study by Next Move Strategy Consulting, the global Furfural Market size is predicted to reach USD 860.8 million with a CAGR of 5.4% by 2030.

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The expansion of the pharmaceutical industry fuels the demand for furaldehyde due to its versatile application in drug formulation and synthesis.

Additionally, the growth of the agricultural industry provides ample feedstock from agricultural byproducts that propels the furfural market growth.

Asia Pacific dominates the furfural market share and is projected to maintain its dominance throughout the forecast period.

The furfural industry comprises of various market players such as Lenzing AG, KRBL Ltd., Transfurans Chemicals BV, RX Chemicals, Kanto Chemical Co. Inc., Central Romana Corporation, Sappi Ltd, Silvateam S.p.a., Penn A Kem, LLC, Illovo Sugar Ltd.