Market Overview:
The global furoic acid market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for plasticizers and food preservatives. Furoic acid is used as a plasticizer in various applications such as PVC, rubber, coatings, and adhesives owing to its excellent compatibility with polymers. It also helps in improving the processing properties of plastics and imparting flexibility, toughness, and heat resistance to them. In addition, furoic acid is used as a food preservative owing to its antimicrobial properties. It inhibits the growth of bacteria and fungi in foods and prevents spoilage thereof.
Product Definition:
A colorless, crystalline solid that is a derivative of furan. It is used as an intermediate in the synthesis of pharmaceuticals and other organic compounds.
Food Grade:
Food grade is the term used for industrial applications of sodium or potassium furoic acid. It is a colorless and highly corrosive liquid that dissolves in water, alcohol, and ether. The product finds application as an intermediate in manufacturing cellulose acetate and other chemicals which are used to produce paints & coatings, adhesives & sealants, printing ink etc.
Industrial Grade:
Industrial grade is a type of specialty chemicals which are used in the production of Furoic acid. It is also used as an intermediate for manufacturing various industrial products such as solvents, adhesives & sealants, and coatings among others.
Application Insights:
The other application segment includes paints and coatings, adhesives and sealants, printing inks, cosmetics and toiletries. The product is widely used as a furoic acid intermediate for the production of various intermediates including polyfumarate (PFOA), polytetramethylene ether (PTMOA), 1,4-butanediol dioxime (BDO) and 1,4-butanediol mononitrate (BNN).
Plastic plasticizer was the largest application segment accounting for over 35% of global market share in 2017. Plastic plasticizers are used to enhance flexibility & flowability of plastics during processing. They also help improve surface glossiness & durability as well as reduce shrinkage during molding processes at high temperatures. Favorable regulatory outlook coupled with rising demand from end-use industries such as automotive & transportation is expected to drive growth over the forecast period.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for over 45% of the global revenue share. The region is also anticipated to be the fastest-growing market at a CAGR of XX% from 2018 to 2030 owing to rapid industrialization, increasing population, and rising living standards in emerging economies including China and India. In addition, growing demand for packaged food coupled with government regulations on quality standards is expected to drive industry expansion over the forecast period.
Europe was valued at USD X billion in 2017 as it is one of the major producers as well as consumers of furoic acid derivatives due to presence of numerous pharmaceutical companies involved in drug discovery process across Europe especially within U K.
Growth Factors:
- Increasing demand for Furoic Acid from end-use industries such as pharmaceuticals, agrochemicals, and dyestuffs.
- Growing research and development activities for the application of Furoic Acid in various end-use industries.
- Rising investments by key players in the production capacity of Furoic Acid to cater to the increasing demand from global markets.
- Technological advancements in production processes of Furoic Acid that would help reduce its manufacturing costs significantly over time.
Scope Of The Report
Report Attributes
Report Details
Report Title
Furoic Acid Market Research Report
By Type
Food Grade, Industrial Grade
By Application
Plastic Plasticizer, Food Preservatives, Pharmaceutical Intermediates, Other
By Companies
Ashland, BASF, Avantium, Mitsubishi Chemical, Avantium, DynaChem, Corbion NV, Sinochem Qingdao, Nova Molecular Technologies, Hongye Chemical
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
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Furoic Acid Market Report Segments:
The global Furoic Acid market is segmented on the basis of:
Types
Food Grade, Industrial Grade
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
Plastic Plasticizer, Food Preservatives, Pharmaceutical Intermediates, Other
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:
- Ashland
- BASF
- Avantium
- Mitsubishi Chemical
- Avantium
- DynaChem
- Corbion NV
- Sinochem Qingdao
- Nova Molecular Technologies
- Hongye Chemical
Highlights of The 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:
- Food Grade
- Industrial Grade
- By Application:
- Plastic Plasticizer
- Food Preservatives
- Pharmaceutical Intermediates
- Other
- 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 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?
Furoic acid is a molecule that is found in many foods, including fruits and vegetables. It helps to keep food fresh by preventing the growth of bacteria.
Some of the major companies in the furoic acid market are Ashland, BASF, Avantium, Mitsubishi Chemical, Avantium, DynaChem, Corbion NV, Sinochem Qingdao, Nova Molecular Technologies, Hongye Chemical.
The furoic acid market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 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 Furoic Acid Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 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 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 Furoic Acid Market Size & Forecast, 2020-2028
4.5.1 Furoic Acid Market Size and Y-o-Y Growth
4.5.2 Furoic Acid Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Food Grade
5.2.2 Industrial Grade
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Plastic Plasticizer
6.2.2 Food Preservatives
6.2.3 Pharmaceutical Intermediates
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global 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 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Food Grade
9.6.2 Industrial Grade
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 Market Size Forecast by Applications
9.10.1 Plastic Plasticizer
9.10.2 Food Preservatives
9.10.3 Pharmaceutical Intermediates
9.10.4 Other
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Food Grade
10.6.2 Industrial Grade
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 Market Size Forecast by Applications
10.10.1 Plastic Plasticizer
10.10.2 Food Preservatives
10.10.3 Pharmaceutical Intermediates
10.10.4 Other
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Food Grade
11.6.2 Industrial Grade
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 Market Size Forecast by Applications
11.10.1 Plastic Plasticizer
11.10.2 Food Preservatives
11.10.3 Pharmaceutical Intermediates
11.10.4 Other
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Food Grade
12.6.2 Industrial Grade
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 Market Size Forecast by Applications
12.10.1 Plastic Plasticizer
12.10.2 Food Preservatives
12.10.3 Pharmaceutical Intermediates
12.10.4 Other
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Food Grade
13.6.2 Industrial Grade
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) Market Size Forecast by Applications
13.10.1 Plastic Plasticizer
13.10.2 Food Preservatives
13.10.3 Pharmaceutical Intermediates
13.10.4 Other
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 Furoic Acid Market: Competitive Dashboard
14.2 Global Furoic Acid Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ashland
14.3.2 BASF
14.3.3 Avantium
14.3.4 Mitsubishi Chemical
14.3.5 Avantium
14.3.6 DynaChem
14.3.7 Corbion NV
14.3.8 Sinochem Qingdao
14.3.9 Nova Molecular Technologies
14.3.10 Hongye Chemical
