The Latin America, Middle East and Africa Furfural Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 294.36 hundred tonnes, showcasing a growth of 6.8% (2023-2030).
One of the prominent trends in the furfural market is the increasing emphasis on renewable and sustainable resources. Furfural and other bio-based compounds will increase demand as sustainability gains traction among businesses and consumers. In addition, furfural-based products are witnessing growing adoption in the agricultural sector, driven by the need for sustainable farming practices and environmentally friendly solutions. Moreover, furfural-based pesticides, herbicides, and soil conditioners offer effective alternatives to conventional agrochemicals, contributing to soil health, crop productivity, and environmental sustainability.
Additionally, the concept of biorefineries, which integrate biomass conversion technologies to produce a range of bio-based products, is gaining traction in the market. Biorefineries leverage various biomass feedstocks to produce furfural, biofuels, biochemicals, and other value-added products, creating a more sustainable and diversified approach to chemical production. Likewise, green chemistry principles, prioritizing the design and development of chemical processes that minimize environmental impact and resource consumption, drive innovation in the market.
The growth of the petroleum industry in the UAE may create opportunities for research and development of new furfural-based products tailored to meet the industry’s specific needs. Every day, the United Arab Emirates produces 3.2 million barrels of petroleum and liquids on average. The United Arab Emirates declared in 2020 that they had found more than 80 trillion cubic feet of gas resources at Jebel Ali. Furthermore, as the petroleum industry expands in UAE, there may be increased demand for chemicals and derivatives derived from furfural. Hence, the growing food and beverage industry and expansion of the region’s petroleum sector are propelling the market’s growth.
The Brazil market dominated the LAMEA Furfural Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $22,641.2 Thousands by 2030. The Argentina market is showcasing a CAGR of 8.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.4% during (2023 - 2030).
Free Valuable Insights: The Worldwide Furfural Market is Projected to reach USD 867.7 Million by 2030, at a CAGR of 5.6%
Based on Raw Material, the market is segmented into Rice Husk, Corn Cobs, Sugarcane Bagasse, and Others. Based on End User, the market is segmented into Agricultural Formulations, Petroleum Refineries, Paints & Coatings, Pharmaceuticals, and Others. Based on Application, the market is segmented into Furfuryl Alcohol, Solvent, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Raw Material (Volume, Hundred Tonnes, USD Million, 2019-2030)
By End User (Volume, Hundred Tonnes, USD Million, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Million, 2019-2030)
By Country (Volume, Hundred Tonnes, USD Million, 2019-2030)
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