Market Overview:
The global 2-Furoic Acid market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for 2-Furoic Acid from various applications such as food, optic technologies, nylon preparation, pharmaceutical industry and others. Additionally, factors such as rising population and growing disposable income are also contributing to the growth of the global 2-Furoic Acid market. However, volatility in prices of raw materials is restraining the growth of this market.
Product Definition:
2-Furoic acid is a carboxylic acid with the formula CH2=CHCOOH. It is a colorless solid that is soluble in water and ethanol. 2-Furoic acid is used as a flavoring agent, an intermediate in the production of other chemicals, and as an herbicide.
2-Furoic Acid 98%:
2-Furoic acid 98% is a white crystalline compound, which is soluble in water and ethanol. It has a slight odor. The product can be manufactured by two different methods: the direct hydration of 2-furyl alcohol or by hydrogenation of 2-furyl alcohol to produce fumaric acid, which then undergoes hydrolysis to form 2-furoic acid.
2-Furoic Acid 97%:
2-Furoic acid 97% is a white crystalline solid and has a molecular weight of 308.8. It is produced by the catalytic oxidation of 2-furyl alcohol with sodium hypochlorite solution in presence of calcium formate as an intermediate. The product finds application as an intermediate for organic chemicals, precursor to polyurethanes and plasticizers, and in pharmaceuticals industry for the synthesis of vitamin C (as retinol).
Application Insights:
The 2-furoic acid market is segmented based on application into food, optic technologies, nylon preparation, pharmaceutical industry and others. The food application dominated the overall demand in 2017 with a share of over 60%. This high share is attributable to the extensive use of 2-furoic acid as a preservative in various processed foods such as cheese and chocolate. Moreover, it finds applications as an antioxidant and color additive in several beverages including juices.
2-Furoic acid has also been used for its antiulcer activity which helps reduce stomach acids that cause ulcers. Thus, increasing awareness regarding ulcers coupled with growing health concerns among consumers are expected to drive demand over the forecast period from 2018 to 2030.
Regional Analysis:
North America dominated the global 2-furoic acid market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the presence of major pharmaceutical companies, optic technology manufacturers, and food processing units in this region. The U.S.
Asia Pacific emerged as a potential regional market for 2-furoic acid with significant growth opportunities due to increasing number semiconductor manufacturing units present across this region coupled with rising demand from end-use industries such as electronics, automotive, textile etc.
Growth Factors:
- Increasing demand for 2-Furoic Acid in various end-use industries such as pharmaceuticals, agrochemicals, and dyestuffs.
- Growing research and development activities for the application of 2-Furoic Acid in new products and processes.
- Rising investments by key players to expand their production capacities of 2-Furoic Acid globally.
- Increasing popularity of 2-Furoic Acid as a green solvent owing to its environmental friendly properties.
Scope Of The Report
Report Attributes
Report Details
Report Title
2-Furoic Acid Market Research Report
By Type
2-Furoic Acid 98%, 2-Furoic Acid 97%, Others
By Application
Food, Optic Technologies, Nylon Preparation, Pharmaceutical Industry, Others
By Companies
Lotus Enterprise, Meryer Chemical Technology, Alfa Aesar, J & K Scientific, Lotus Enterprise
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
167
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global 2-Furoic Acid Market Report Segments:
The global 2-Furoic Acid market is segmented on the basis of:
Types
2-Furoic Acid 98%, 2-Furoic Acid 97%, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food, Optic Technologies, Nylon Preparation, Pharmaceutical Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Lotus Enterprise
- Meryer Chemical Technology
- Alfa Aesar
- J & K Scientific
- Lotus Enterprise
Highlights of The 2-Furoic Acid Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 2-Furoic Acid 98%
- 2-Furoic Acid 97%
- Others
- By Application:
- Food
- Optic Technologies
- Nylon Preparation
- Pharmaceutical Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the 2-Furoic Acid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
2-Furoic Acid is a naturally occurring organic compound with the chemical formula C6H5FO3. It is a colorless liquid that has a sour odor. 2-Furoic Acid is found in many foods, including fruits, vegetables, and dairy products.
Some of the key players operating in the 2-furoic acid market are Lotus Enterprise, Meryer Chemical Technology, Alfa Aesar, J & K Scientific, Lotus Enterprise.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 2-Furoic Acid Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 2-Furoic Acid Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 2-Furoic Acid Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the 2-Furoic Acid Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global 2-Furoic Acid Market Size & Forecast, 2018-2028
4.5.1 2-Furoic Acid Market Size and Y-o-Y Growth
4.5.2 2-Furoic Acid Market Absolute $ Opportunity
Chapter 5 Global 2-Furoic Acid Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 2-Furoic Acid Market Size Forecast by Type
5.2.1 2-Furoic Acid 98%
5.2.2 2-Furoic Acid 97%
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 2-Furoic Acid Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 2-Furoic Acid Market Size Forecast by Applications
6.2.1 Food
6.2.2 Optic Technologies
6.2.3 Nylon Preparation
6.2.4 Pharmaceutical Industry
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global 2-Furoic Acid Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 2-Furoic Acid Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America 2-Furoic Acid Analysis and Forecast
9.1 Introduction
9.2 North America 2-Furoic Acid Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America 2-Furoic Acid Market Size Forecast by Type
9.6.1 2-Furoic Acid 98%
9.6.2 2-Furoic Acid 97%
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America 2-Furoic Acid Market Size Forecast by Applications
9.10.1 Food
9.10.2 Optic Technologies
9.10.3 Nylon Preparation
9.10.4 Pharmaceutical Industry
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe 2-Furoic Acid Analysis and Forecast
10.1 Introduction
10.2 Europe 2-Furoic Acid Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe 2-Furoic Acid Market Size Forecast by Type
10.6.1 2-Furoic Acid 98%
10.6.2 2-Furoic Acid 97%
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe 2-Furoic Acid Market Size Forecast by Applications
10.10.1 Food
10.10.2 Optic Technologies
10.10.3 Nylon Preparation
10.10.4 Pharmaceutical Industry
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific 2-Furoic Acid Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 2-Furoic Acid Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific 2-Furoic Acid Market Size Forecast by Type
11.6.1 2-Furoic Acid 98%
11.6.2 2-Furoic Acid 97%
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific 2-Furoic Acid Market Size Forecast by Applications
11.10.1 Food
11.10.2 Optic Technologies
11.10.3 Nylon Preparation
11.10.4 Pharmaceutical Industry
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America 2-Furoic Acid Analysis and Forecast
12.1 Introduction
12.2 Latin America 2-Furoic Acid Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America 2-Furoic Acid Market Size Forecast by Type
12.6.1 2-Furoic Acid 98%
12.6.2 2-Furoic Acid 97%
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America 2-Furoic Acid Market Size Forecast by Applications
12.10.1 Food
12.10.2 Optic Technologies
12.10.3 Nylon Preparation
12.10.4 Pharmaceutical Industry
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) 2-Furoic Acid Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 2-Furoic Acid Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) 2-Furoic Acid Market Size Forecast by Type
13.6.1 2-Furoic Acid 98%
13.6.2 2-Furoic Acid 97%
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) 2-Furoic Acid Market Size Forecast by Applications
13.10.1 Food
13.10.2 Optic Technologies
13.10.3 Nylon Preparation
13.10.4 Pharmaceutical Industry
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 2-Furoic Acid Market: Competitive Dashboard
14.2 Global 2-Furoic Acid Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Lotus Enterprise
14.3.2 Meryer Chemical Technology
14.3.3 Alfa Aesar
14.3.4 J & K Scientific
14.3.5 Lotus Enterprise
