Furan Resins Market Up-To-Date Analysis Of Market Trends And Technological Improvements 2020

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.

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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. 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.

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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.

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