FURFURAL MARKET ANALYSIS

Market Challenges And Opportunities

However, inefficient technology resulting in low yields and complex production process of furfural restrains the growth of the market. However, increasing government initiatives for use of bio-chemicals into different applications create opportunities for the furfural manufacturers to invest into research and development of the furfural products and their applications. For instance, the government of Alberta has taken initiatives to link the consumer facing brands with biochemicals and conventional petrochemical industries, which has resulted in increase in investments in the biochemical sector in Alberta. Various research studies are being conducted for low costs production of furfural, though they are not commercially operational processes. Moreover, changing prices of raw materials pose threat to the growth of the market.