GLOBAL FURFURAL DERIVATIVES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market News

Recent Development

• In June 2023, Origin Materials announced startup of origin 1, world’s first commercial CMF. Origin Materials is a technology company focused on developing sustainable materials and products. The company's mission is to create a circular economy by converting waste materials into valuable products. Origin Materials' primary product is a bio-based polyethylene (PE) that is produced using a proprietary process called "Carbio" technology. (chloromethyl furfural) plant. The CMF plant converts waste carbon dioxide (CO2) and waste biomass into bio-based polyethylene (PE), which can be used as a drop-in replacement for traditional petroleum-based PE. Origin 1 is a significant milestone in Origin Materials' journey to decarbonize the world's materials.
• In May 2021, The Kilombero Sugar Company, in which Illovo Sugar Africa holds 75% of the share announced a major expansion project. This new development will increase the company’s sugar production from 127,000 tons of sugar per annum, to 271,000 tons.
• Kilombero Sugar Company Limited (KSCL) is Tanzania's largest sugar producer, operating cohesively with Illovo Distillers Tanzania Limited (IDTL) and a proud member of the Illovo Sugar Africa family. KSCL has the largest crop estate in Tanzania, covering 26,000 hectares, with 10,000 hectares belonging to KSCL and approximately 16,000 hectares from smallholder farmers.
• Illovo Sugar Africa is Africa's largest sugar producer, with extensive agricultural and manufacturing operations in six African countries. The company produces raw and refined sugar for local, regional African, European Union (EU), United States of America (USA), and world markets from sugar cane supplied by its own agricultural operations and independent growers.