A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Furan
Resins
market. The study,
titled “Furan
Resins Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2014 - 2020”,
is available for sale on the firm’s website.
Furan
resins are heterocyclic organic compound polymers manufactured from
furfuryl alcohol. It has applications in solvents, foundry, plastics,
wetting agents, adhesives, automotive and in gas hardening processes.
The raw material furfuryl alcohol is obtained from sugarcane bagasse
and corn cobs, wheat bran, oats and others. It has application in
rocketry as a hypergolic fuel which ignites readily in presence of
fuming nitric acid and red fuming nitric acid. It is also used as raw
material for other specialty chemicals for various applications.
Increasing
demand for bio-based products owing to increasing awareness among
consumers coupled with rising environmental regulations is expected
to drive the furan resins market. Furan resins are manufactured from
renewable raw materials such as sugarcane bagasse, wheat bran and
oats. Environmental regulations favor eco-friendly products over
synthetic counter parts.
Get
PDF Brochure for more Professional and Technical insights :
Furan
resins find application in paints & plastic industry which is
anticipated to drive the market due to increase in demand from
construction and paints industry. In addition, growing demand for
furan resin in foundry application is expected to drive the market
growth. Bio-based resins and paints are gaining demand from developed
countries with strict environmental regulations. Furan resin
derivatives are waterproof, acid & chemical resistant and offer
high weight to strength ratio. These properties make them
indispensable in construction and industrial structures industry.
Further demand for furan resins from automotive industry is expected
to boost the market growth. Furan resins and its derivatives are used
in different parts of automotives to reduce the weight. For example,
epoxy furan is used as matrix material in automotive manufacture.
However
the safety issues regarding transportation and export rules of
different developing countries is expected to restrain the market
growth. Furan is highly flammable and volatile at room temperature
that makes transportation difficult. Environmental regulations are
imposed with exposure limits of furan resins and its derivatives due
to its toxic nature and potential to cause cancer.
Research
and developments in the field of rocketry are expected to provide
immense opportunities for manufacturers of furan resins in the near
future. Furan resins with reinforced material are highly resistant to
high temperature and chemicals that is used in protective structure
of the rocket parts while re-entering earth’s atmosphere. Further
novel furan resins application in composites is expected to open up
new opportunities in the near future.
Asia
Pacific was the largest producer and consumer of furan resin in which
China contributes to the highest consumption. Proximity to raw
material and increasing applications in plastics & resins are
expected to drive the market in this region. Foundry industry is the
major contributor towards the growth of furan resin market in this
region. Asia Pacific was followed by Europe in terms of consumption
owing to increase in the application area of furan resins and
eco-friendly nature of furan resin based products. Research
activities in the field of wind energy and rocketry are expected to
provide opportunity for furan resin market in this region. North
America is expected to grow at a faster pace owing to increase in
availability of raw materials and rising demand from construction and
paints industry.
Browse
Market Research Report with ToC & Analysis :
Some
of the key players in Furan Resins market include DynaChem Inc., The
Chemical Company, Hongye Chemical Co. Ltd, Penn A Kem LLC, Nova
Molecular technologies, Continetal Industries Group Inc., Shenzhen
Shu Hang Industrial Development Co. Ltd., SolvChem Inc., NeuChem
Inc., SweetLake Chemical Ltd., Ideal Chemical & Supply Company,
Novasynorganics, International Process Plants among others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends.
Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
Contact
Transparency
Market Research
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State Street, Suite 700
Albany,
NY 12207
Tel:
+1-518-618-1030
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