Europe Furfural Derivatives Market Size & Outlook, 2022-2030
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Europe furfural derivatives market highlights
- The Europe furfural derivatives market generated a revenue of USD 1,587,654.9 million in 2022.
- The market is expected to grow at a CAGR of 5.3% from 2023 to 2030.
- In terms of segment, maleic anhydride was the largest revenue generating application in 2022.
- Tetrahydrofurfuyl Alcohol is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 1,587,654.9 million |
| Market revenue in 2030 | USD 2,399,587.1 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Maleic anhydride |
| Fastest growing segment | Tetrahydrofurfuyl Alcohol |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | 1-5 Pentanediol, Furoic Acid, Tetrahydrofuran, 2 Methyl Tetrahydrofuran, 2 Methylfuran, Maleic Anhydride, Cyclopentanone, Tetrahydrofurfuyl Alcohol |
| Key market players worldwide | Pyran Inc., Pennakem LLC, TransFurans Chemicals, Basf SE, Ube Corp, Ab Enterprises, Hefei TNJ Chemical Industry Co., International Furan Chemicals |
Other key industry trends
- In terms of revenue, Europe region accounted for 12.7% of the global furfural derivatives market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 15,321,409.9 million by 2030.
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Furfural Derivatives Market Scope
Furfural Derivatives Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| International Furan Chemicals | View profile | 11-50 | Rotterdam, Zuid-Holland, The Netherlands, Europe | https://www.furan.com |
| Ab Enterprises | View profile | 11-50 | Bhubaneswar, Orissa, India, Asia | https://www.abentp.com |
| Pennakem LLC | View profile | 101-250 | Memphis, Tennessee, United States, North America | http://pennakem.com |
| Pyran Inc. | View profile | 11-50 | Madison, Wisconsin, United States, North America | https://pyranco.com/ |
| Hefei TNJ Chemical Industry Co. | View profile | 51-100 | Hefei, Anhui, China, Asia | http://www.tnjchem.com |
| TransFurans Chemicals | View profile | 11-50 | Geel, Antwerpen, Belgium, Europe | https://www.transfurans.be |
| Ube Corp | View profile | 8019 | Seavans North Building, 1-2-1, Shibaura, Minato-Ku, Tokyo, Japan, 105-8449 | https://www.ube.co.jp |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
Europe furfural derivatives market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to furfural derivatives market will help companies and investors design strategic landscapes.
Maleic anhydride was the largest segment with a revenue share of 47.87% in 2022. Horizon Databook has segmented the Europe furfural derivatives market based on 1-5 pentanediol, furoic acid, tetrahydrofuran, 2 methyl tetrahydrofuran, 2 methylfuran, maleic anhydride, cyclopentanone, tetrahydrofurfuyl alcohol covering the revenue growth of each sub-segment from 2018 to 2030.
Several factors influence the growth and demand for furfural derivatives in Europe. The pharmaceutical industry in Europe is experiencing growth due to the increasing elderly population, resulting in higher demand for healthcare services and medications.
Additionally, Europe has a robust research and development foundation in the pharmaceutical sector, with various universities, research centers, and biotech companies contributing to innovation and development of new drugs. These factors collectively contribute to the expansion of the pharmaceutical industry in the region, subsequently driving the demand for the furfural derivatives market.
According to the European Federation of Pharmaceutical Industries and Associations, research & development activities in the European pharmaceutical industry play a critical role in restoring growth in the pharmaceutical market of the region. The pharmaceutical industry in Europe witnessed an investment of USD 42,272 million (EUR 39,600 million) in 2022.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe furfural derivatives market , including forecasts for subscribers. This continent databook contains high-level insights into Europe furfural derivatives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe furfural derivatives market size, by country, 2018-2030 (US$M)
Europe Furfural Derivatives Market Outlook Share, 2022 & 2030 (US$M)
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