The global pharmaceuticals market is expected to increase at a CAGR of over 4-5% during forecast period. 2-Methylfuran is expected to gain traction in the near future as it is primarily used in pharmaceuticals industry. It is a light yellowish green volatile organic compound with an ethereal odor and is also known as sylvan. 2-Methylfuran changes its shading to black or yellow when exposed to sunlight. It is highly flammable and hence is stored in a ventilated, cool dry place far from heat & fire.
2-Methylfuran is widely used in manufacturing of drugs like atropine, sodium acetate, furadantine, anisodamine and thiamine furan. In pharmaceuticals industry, synthesis of vitamin B1 is done using 2-Methylfuran. It is less dense than water but its vapors are heavier when contrastedwith air. 2-Methylfuran also finds application as a tool for screening of lung cancer and production of anti-malarial drug like chloroquine. It is also used to produce methyl furfural, aliphatic compounds and sulfur and nitrogen heterocycles. Moreover, 2-Methylfuran is also used for making pesticides, flavors or fragrances and has narcotic effect. Hence, the global 2-Methylfuran market is expected to grow at a moderate CAGR during the forecast period.
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Global 2-Methylfuran Market: Region wise Outlook
North America is expected to be the most dominant region in global 2-Methylfuran market. Asia Pacific is anticipated to be the most promising revenue generating region for 2-Methylfuran and is expected to grow at significant rate. Due to availability of labor and low cost of raw material, China is projected to be one of the highest revenue generating country in Asia Pacific region in 2-Methylfuran market. Middle East & Africa and Latin America are also expected to show positive growth in the near future.
Global 2-Methylfuran Market: Key Players
Some of the major key players identified in the global 2-Methylfuran market are as follows:
- Capot Chemical Co. Ltd.
- Angene Chemical
- A&J Pharmtech Co. Ltd.
- Sigma-Aldrich
- Finetech Industry Ltd.
- ChemExper Inc.
- MP Biomedicals, LLC.
- Amadis Chemical Co. Ltd.
- AN PharmaTech Co. Ltd.
- Tractus Company Ltd.
- Haihang Industry Co. Ltd.
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2 Methylfuran Market Segmentation
The global 2-Methylfuran market can be segmented on the basis of applications and regions
On the basis of applications, the global 2-Methylfuran market is segmented into
- pharmaceuticals
- agricultural
- chemical industry
On the basis of regions, the global 2-Methylfuran market can be segmented into
- North America
- Western Europe
- Middle East and Africa
- Latin America
- Asia Pacific
- Japan
- Eastern Europe
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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