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In 2022, experts predicted a market size for 2-furoic acid of $14,8 million. From 2023 to 2030, it is predicted to grow at a CAGR of 8.2%, ultimately reaching US$ 23.3 Mn.
The aromatic ring and carboxyl group make 2-furoic acid a carboxylic acid. You can put it in the "specialty chemical" bin. To preserve food and add flavour, 2-furoic acid is commonly employed. Pasteurisation and sterilisation processes rely on it. It kills bacteria and fungi. It is also an intermediary in the pharmaceutical industry and has applications in optics and nylon production. The food industry was the primary consumer and driver of the 2-furoic acid market. In addition, 2-furoic acid serves as a precursor in the synthesis of furoate esters. 2-Furoic acid derivatives have use in pharmaceuticals and biomedical research. For 2-furoic acid, optical technology represents the biggest growth potential. Crystals of 2-furoic acid have useful features, such as non linear optical material (NLO), that make them suitable for use in optical systems. However, risks to human health, such as mutagenesis consequences from 2-furoic acid, are expected to slow the market.
In 2012, the 2-furoic acid market was led by North America due to the continent's high demand. 2-Furoic acid is in high demand because of its widespread use in the culinary world. Due to the high demand for 2-furoic acid in the medical field, Europe became the second market served after North America. In addition, optical technology is anticipated to fuel growth in the European market for 2-furoic acid.
Growth in the 2-furoic acid market can be attributed to rising demand from the food processing sector, among other things. In addition, the 2-furoic acid industry's leading companies have benefited greatly from the research and development operations. However, it is expected that the overall expansion of the 2-furoic acid market will be hampered by volatile prices. Focusing on the global market trend research, "Global 2-Furoic Acid Market Analysis to 2028" is an in-depth and specialised study of the food and beverage sector. The purpose of this study is to give a review of the 2-furoic acid market, including a breakdown of the market by type, application, and geographic region. It is projected that the global market for 2-furoic acid will expand rapidly during the next few years. The report covers important trends and opportunities in the 2-furoic acid market and gives vital information on the market position of the leading market players. The global 2-furoic acid market is broken down into submarkets defined by product type and end-use industry. The global 2-furoic acid market may be broken down into the industrial, food, and medicinal segments. The worldwide market for 2-furoic acid is segmented by end use into the categories of food, photonic technologies, nylon preparation, the pharmaceutical industry, and others.
In the pharmaceutical sector, 2-furoic acid is in high demand because of its widespread use as an essential ingredient in the production of a wide range of medications and pharmaceutical substances. It serves as a precursor or intermediate in the production of many pharmaceuticals, such as APIs and pharmaceutical intermediates. Substances like this are crucial in the discovery and development of new medicines for treating a wide range of conditions. Key contributors to the robust rise of the global pharmaceutical business include the rising prevalence of chronic illness worldwide, the rising global population, the improvement of healthcare infrastructure, and the increase in R&D spending. The need for pharmaceutical products is growing as the world's population ages. The demand for pharmaceutical drugs, such as 2-furoic acid, is being driven by the rising expense of healthcare, particularly in developing countries.
Report Coverage
Global 2-Furoic Acid research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global 2-Furoic Acid report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and 2-Furoic Acid competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key 2-Furoic Acid market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global 2-Furoic Acid market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, 2-Furoic Acid market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Alfa Aesar (Thermo Fisher Scientific), Angene, BOC Sciences, FINETECH INDUSTRY LIMITED, FUJIFILM Wako Pure Chemical Corporation, Merck KGaA, Santa Cruz Biotechnology, Inc., Shree Ganesh Remedies Ltd., Sisco Research Laboratories Pvt. Ltd., SynQuest Laboratories, and Tokyo Chemical Industry Co., Ltd. (TCI)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global 2-Furoic Acid market based on the below-mentioned segments:
Global 2-Furoic Acid Market, By Purity
2-Furoic Acid 98%
2-Furoic Acid 99%
Others
Global 2-Furoic Acid market, By Application
Pharmaceuticals
Food Additives
Resins and Polymers
Agrochemical Formulations
Optic Technologies
Others
Global 2-Furoic Acid Market, By Grade
Industrial Grade
Food Grade
Pharmaceutical Grade
Global 2-Furoic Acid market, Regional Analysis
The aromatic ring and carboxyl group make 2-furoic acid a carboxylic acid. You can put it in the "specialty chemical" bin. To preserve food and add flavour, 2-furoic acid is commonly employed. Pasteurisation and sterilisation processes rely on it. It kills bacteria and fungi. It is also an intermediary in the pharmaceutical industry and has applications in optics and nylon production. The food industry was the primary consumer and driver of the 2-furoic acid market. In addition, 2-furoic acid serves as a precursor in the synthesis of furoate esters. 2-Furoic acid derivatives have use in pharmaceuticals and biomedical research. For 2-furoic acid, optical technology represents the biggest growth potential. Crystals of 2-furoic acid have useful features, such as non linear optical material (NLO), that make them suitable for use in optical systems. However, risks to human health, such as mutagenesis consequences from 2-furoic acid, are expected to slow the market.
In 2012, the 2-furoic acid market was led by North America due to the continent's high demand. 2-Furoic acid is in high demand because of its widespread use in the culinary world. Due to the high demand for 2-furoic acid in the medical field, Europe became the second market served after North America. In addition, optical technology is anticipated to fuel growth in the European market for 2-furoic acid.
Growth in the 2-furoic acid market can be attributed to rising demand from the food processing sector, among other things. In addition, the 2-furoic acid industry's leading companies have benefited greatly from the research and development operations. However, it is expected that the overall expansion of the 2-furoic acid market will be hampered by volatile prices. Focusing on the global market trend research, "Global 2-Furoic Acid Market Analysis to 2028" is an in-depth and specialised study of the food and beverage sector. The purpose of this study is to give a review of the 2-furoic acid market, including a breakdown of the market by type, application, and geographic region. It is projected that the global market for 2-furoic acid will expand rapidly during the next few years. The report covers important trends and opportunities in the 2-furoic acid market and gives vital information on the market position of the leading market players. The global 2-furoic acid market is broken down into submarkets defined by product type and end-use industry. The global 2-furoic acid market may be broken down into the industrial, food, and medicinal segments. The worldwide market for 2-furoic acid is segmented by end use into the categories of food, photonic technologies, nylon preparation, the pharmaceutical industry, and others.
In the pharmaceutical sector, 2-furoic acid is in high demand because of its widespread use as an essential ingredient in the production of a wide range of medications and pharmaceutical substances. It serves as a precursor or intermediate in the production of many pharmaceuticals, such as APIs and pharmaceutical intermediates. Substances like this are crucial in the discovery and development of new medicines for treating a wide range of conditions. Key contributors to the robust rise of the global pharmaceutical business include the rising prevalence of chronic illness worldwide, the rising global population, the improvement of healthcare infrastructure, and the increase in R&D spending. The need for pharmaceutical products is growing as the world's population ages. The demand for pharmaceutical drugs, such as 2-furoic acid, is being driven by the rising expense of healthcare, particularly in developing countries.
Report Coverage
Global 2-Furoic Acid research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global 2-Furoic Acid report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and 2-Furoic Acid competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key 2-Furoic Acid market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Alfa Aesar (Thermo Fisher Scientific), Angene, BOC Sciences, FINETECH INDUSTRY LIMITED, FUJIFILM Wako Pure Chemical Corporation, Merck KGaA, Santa Cruz Biotechnology, Inc., Shree Ganesh Remedies Ltd., Sisco Research Laboratories Pvt. Ltd., SynQuest Laboratories, and Tokyo Chemical Industry Co., Ltd. (TCI) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of 2-Furoic Acid Market from 2021 to 2030.
- Market Forecast for 2-Furoic Acid Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, 2-Furoic Acid competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on 2-Furoic Acid
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global 2-Furoic Acid market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, 2-Furoic Acid market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Alfa Aesar (Thermo Fisher Scientific), Angene, BOC Sciences, FINETECH INDUSTRY LIMITED, FUJIFILM Wako Pure Chemical Corporation, Merck KGaA, Santa Cruz Biotechnology, Inc., Shree Ganesh Remedies Ltd., Sisco Research Laboratories Pvt. Ltd., SynQuest Laboratories, and Tokyo Chemical Industry Co., Ltd. (TCI)
Primary Target Market
- Market Players of 2-Furoic Acid
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global 2-Furoic Acid market based on the below-mentioned segments:
Global 2-Furoic Acid Market, By Purity
2-Furoic Acid 98%
2-Furoic Acid 99%
Others
Global 2-Furoic Acid market, By Application
Pharmaceuticals
Food Additives
Resins and Polymers
Agrochemical Formulations
Optic Technologies
Others
Global 2-Furoic Acid Market, By Grade
Industrial Grade
Food Grade
Pharmaceutical Grade
Global 2-Furoic Acid market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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