Download Free Sample
Single User License
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
2-Methylfuran Market is poised to grow at a CAGR of 5.5% over 2024-2030. 2-Methylfuran is a chemical compound that is a flammable, water-insoluble liquid with a chocolate odor, found naturally in Myrtle and Dutch Lavender with various industrial applications, and is used as a precursor or intermediate in the synthesis of other chemicals. The rising application in the pharmaceutical industry as an intermediate for the synthesis of vitamin B, chloroquine phosphate, primary chloroquine phosphate, and other drugs drives the 2-Methylfuran market. The increased sales of pharmaceutical products are also anticipated to propel the market during the forecast period. For instance, according to research conducted, in 2017 pharmaceutical market revenue was US$ 1,143 billion and will reach almost US$ 1,462 billion in 2021. Furthermore, the growth of various chemical industries that use 2-methylfuran as a precursor in the synthesis of various chemicals is anticipated to experience a surge in the future.
Additionally, in the area of 2-methylfuran, there are opportunities for research and development to find new uses and enhance manufacturing procedures, possibly leading to more affordable procedures and wider market penetration. Compliance with regulations related to environmental protection and chemical safety in various chemical, agronomic, and pharmaceutical industry manufacturers to increase sales among environmentally conscious customers is currently becoming popular in the market. But, the constant fluctuation in the feedstock availability and market demand along with disruptions in the supply chain, such as disruptions in raw material availability or transportation is anticipated to hinder the market growth. However, the growing demand for bio-based and sustainable chemicals, the emergence of new companies involved in the production, distribution, and sale of 2-methylfuran, the increase in disposable income, and the technological advancement are anticipated to burgeon the market growth during the forecast period.
Study Period
2024-2030Base Year
2023CAGR
5.5%Largest Market
Asia PacificFastest Growing Market
North America
The market is expected to rise due to the increased application of industrial-grade 2-methylfuran tremendously. Chemical intermediates of industrial-grade 2-methylfuran are often employed in a variety of industrial processes. It is used in making chemicals, polymers, resins, and other industrial goods. The major application of industrial-grade methyl furan is for the production of olefins such as Ethylene and Propylene. The level of general industrial activity in the industries where 2-methylfuran is utilized may have an impact on demand. Furthermore, 2-methylfuran is used for making pesticides, flavors, or fragrances and has a narcotic effect. In Addition, due to its use as an additive in gasoline, where it functions as a fuel regulator by regulating the air/fuel ratio, has led to an increase in engine efficiency & power output, the demand for 2-MF has surged. Moreover, the growing agricultural industry and rising pesticide demand are anticipated to create potential opportunities for the 2-methyl Furan market.
The Asia Pacific 2-Methylfuran market is poised to grow at 5.9% CAGR over the forecast period owing to increased biotechnology and pharmaceutical sector in the region. Furthermore, the increased demand for agricultural pesticides in agriculture dependent economies and to feed huge population countries like China, and India, contributes tremendously to the economy. China is anticipated to be one of the largest revenue-generating nations in the Asia Pacific region in the 2-Methylfuran market due to the availability of manpower and cheap raw materials.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market CAGR |
5.5% |
|
By Type |
|
|
By Application |
|
|
By Region |
|
Download Free Sample Report
The 2-methylfuran market is expected to grow at 5.5% CAGR over the forecast period 2023 – 2029.
The rising application in the pharmaceutical industry as an intermediate for the synthesis of vitamin B, chloroquine phosphate, primary chloroquine phosphate, and other drugs drives the 2-Methylfuran market.
Capot Chemical, ChemExper Inc, AN PharmaTech, AandJ Pharmtech, Tractus Company, Haihang Industry, Amadis Chemical, Angene Chemical, Finetech Industry, and MP Biomedicals, are a few companies operating in the 2-Methylfuran market.
Asia Pacific is anticipated to grow with 5.9% CAGR over the forecast period 2023-2029.
| 1.Executive Summary |
| 2.Global 2-Methylfuran Market Introduction |
| 2.1.Global 2-Methylfuran Market - Taxonomy |
| 2.2.Global 2-Methylfuran Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.Region |
| 3.Global 2-Methylfuran Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global 2-Methylfuran Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global 2-Methylfuran Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Industrial Grade |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Drug Grade |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Others |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global 2-Methylfuran Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Pharmaceutical Industry |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Agricultural Industry |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Chemical Industry |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global 2-Methylfuran Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America 2-Methylfuran Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Industrial Grade |
| 8.1.2.Drug Grade |
| 8.1.3.Others |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Pharmaceutical Industry |
| 8.2.2.Agricultural Industry |
| 8.2.3.Chemical Industry |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe 2-Methylfuran Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Industrial Grade |
| 9.1.2.Drug Grade |
| 9.1.3.Others |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Pharmaceutical Industry |
| 9.2.2.Agricultural Industry |
| 9.2.3.Chemical Industry |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) 2-Methylfuran Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Industrial Grade |
| 10.1.2.Drug Grade |
| 10.1.3.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Pharmaceutical Industry |
| 10.2.2.Agricultural Industry |
| 10.2.3.Chemical Industry |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) 2-Methylfuran Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Industrial Grade |
| 11.1.2.Drug Grade |
| 11.1.3.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Pharmaceutical Industry |
| 11.2.2.Agricultural Industry |
| 11.2.3.Chemical Industry |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America 2-Methylfuran Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Industrial Grade |
| 12.1.2.Drug Grade |
| 12.1.3.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Pharmaceutical Industry |
| 12.2.2.Agricultural Industry |
| 12.2.3.Chemical Industry |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Capot Chemical |
| 13.2.2.ChemExper, Inc. |
| 13.2.3.AN PharmaTech |
| 13.2.4.AandJ Pharmtech |
| 13.2.5.Tractus Company |
| 13.2.6.Haihang Industry |
| 13.2.7.Amadis Chemical |
| 13.2.8.Angene Chemical |
| 13.2.9.Finetech Industry |
| 13.2.10.MP Biomedicals |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.