Furfural Derivatives Market Is Likely To Up Demand At A USD 21.84 Billion By 2030
San Francisco, 16 May 2024: The Report Furfural Derivatives Market Size, Share & Trends Analysis Report By Product By Route (Tetrahydrofuran, Cyclopentanone), By Product By Application (1-5 Pentanediol, Furoic Acid), By Region, And Segment Forecasts, 2023 - 2030 The global furfural derivatives market size is expected to reach USD 21.84 billion by 2030, registering a CAGR of 7.24% from 2023 to 2030, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the growing demand for sustainable and bio-based chemicals along with the wide range of applications of furfural derivatives in different industries. Furfural derivatives can be used as key components in the production of biofuels and other green chemicals. The shift toward renewable energy sources and sustainable chemical production is bolstering their consumption globally. Furfural is derived from agricultural waste products like corncobs and sugarcane bagasse. Thus, the products are consid