Furfural is produced from agricultural waste biomass that contain pentosans, which are aldose to sugars, composed of small rings formed from short five-member chains, that constitute a class of complex carbohydrates, present in cellulose of many woody plants such as corn cobs, sugar cane bagasse, rice, wheat bran, sawdust and oat hulls etc. Furfural has several applications such as antacids, fertilizers, plastics, fungicides, nematicides and adhesives.
The global furfural market was valued at US$1.3 bn by 2013,US$450 million in 2014,$663.5 million in 2015 and In 2016, the market was valued USD 557.4 Million in terms of revenue. By Regions, 2017-2025” is expected to reach USD 1393.9 Million by 2025 in terms of revenue. In terms of volume, is estimated to reach by 464.5 Kiloton in 2016, $1,434.1 million by 2022 and expected to reach $1184.8 Kiloton by 2025. Entrepreneurs who invest in this project will be successful.
Few Indian major players are as under
· K R B L Ltd.
· M A C Agro Inds. Ltd.
· Mangalam Organics Ltd.
· Multichem Specialities Pvt. Ltd.
· Priya International Ltd.
· Sanjay Chemicals (India) Pvt. Ltd.