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Furfural Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: July, 2022
No of Pages: 155
Delivery Format: PDF + Excel

$2,950.00

Report Description

The global furfural market was worth $1.2 billion in 2019 and is expected to grow to $2.0 billion by 2027. From 2020 to 2027, the market is expected to grow at 6.9%.

Furfural is an agricultural byproduct-derived chemical feedstock that is organic, renewable and non-petroleum-based. Furfural is made from agricultural residues, such as corn cobs and rice husks, sugarcane bagasse, cotton husks, oat husks, almond husks, olive press cake, and other crops. Furfural, a colourless or slightly yellowish chemical compound that quickly darkens in the air, can be either colourless or very yellowish. The pentosan-containing residues obtained from the processing of various agricultural and forest products fuel furfural’s production activity. Furfural is extracted from agricultural or forest products and processed in a digester using high-pressure steam. The steam distillation is followed by waterfurfural separation, purification, and purification.

Furfural is a versatile material with excellent properties like corrosion resistance, thermosetting and physical resistance. This makes it an ideal material for making resins. Furfural can also be used in refining, purification and manufacturing processes, which is why it is so popular.

The furfural industry can be divided into raw material and application, end-users, and regions. The market can be divided into corn cobs and rice husk. Furfuryl alcohol, solvent, as well as others are the segments that make up the application segment. The market can be classified by end-user as petroleum refineries or agricultural formulations, paints and coatings, pharmaceuticals, etc. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).

Arco Industries Pvt. are the key players in the furfural industry. Central Romana Corporation, Hongye Holding Group Corporation, Illovo Group, KRBL Ltd., Lenzing AG, Penn A Kem LLC, Silvateam, Tanin Sevnica d.d., and Tieling North Furfural Group (Group) Co. Ltd. The key players used various strategies to maintain market competition, including joint ventures, product launches, business expansion, and agreements.

Furfural Market by Raw Material

Corn cobs furfural, a versatile feedstock used to manufacture many biofuels and other chemical products, is the most important raw material segment. The sugarcane bagasse, however, is expected to grow the fastest during the forecast period. Its use improves fuel’s viscosity, oxidation stability and ignition characteristics, colour, flashpoints, and carbon-forming tendencies, as well as its ability to improve the colour and flash point.

Furfural Market, by Application

Furfuryl alcohol, by application, is the dominant segment and will continue to be so throughout the forecast period. To prevent potential leakage, furfuryl alcohol can be used in containers, tanks and lines. It is also a reactive solvent in corrosion-resistant manufacturing blocks of cement, mortars, and fibre-reinforced plastics.

Furfural Market by End User

Due to their use in revolutionary pesticides, fungicides, herbicides, and other synthetic chemical compounds, agricultural formulations held the largest market share. The forecast period will see agricultural formulations grow at the highest rate of CAGR due to government support to encourage the adoption of bio-based pesticides, fungicides, herbicides, and other chemical compounds.

Furfural Market by Region

Asia-Pacific was the dominant region in the global furfural market. The fastest growth rate is expected to occur during the forecast period. This is due to the growing demand for furfural and economies like China and India.

Asia-Pacific is expected to be the most lucrative market.

Key Benefits for Stakeholders

  • This report includes an in-depth analysis of the furfural market, a forecast for the future, and current and future market trends.
  • This report provides insight into the market’s key drivers, opportunities and limitations, and the impact analysis for the forecast period.
  • Porter’s Five Forces analysis is a tool that analyzes the potential buyers and suppliers, as well as the competitive environment of furfural industries for strategy building.
  • This comprehensive analysis identifies the factors driving and limiting the growth of the furfural industry.
  • This report contains qualitative data that focuses on the development, dynamics, and trends in furfural markets.
  • In terms of revenues, the furfural market size can be compared.
  • This report offers extensive qualitative insight into the key segments and regions with favourable furfural market shares.

Furfural Market Report Scope and Segmentation

ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

Key Market Segments

  • By Application
    • Furfuryl Alcohol
    • Solvent
    • Other
  • Material by Row
    • Corn Cobs
    • Rice Husk
    • Sugarcane Bagasse
    • Other
  • End-User
    • Petroleum Refineries
    • Agricultural Formulations
    • Paints & Coatings
    • Pharmaceuticals
    • Other
  • By Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • Italy
      • France
      • UK
      • Spain
      • Poland
      • Russia
      • The Netherlands
      • Norway
      • Czech Republic
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Malaysia
      • Thailand
      • Singapore
      • Australia & New Zealand
      • Rest of Asia Pacific
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Rest of South America
    • The Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Northern Africa
      • Rest of MEA

Key Market Participants

  • Arco Industries Pvt. Ltd.
  • Central Romana Corporation, Ltd.
  • Hongye Holdings Group Co. Ltd.
  • ILLOVO SUGAR AFRICA (PTY) LTD
  • KRBL Ltd.
  • Lenzing AG
  • Penn A Kem LLC
  • Silvateam
  • Tanin Sevnica d.d.
  • Tieling North Furfural (Group) Co.

Chapter 1. Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Gvr’s Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.3.6 Primary Sources
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Research Scope and Assumptions
Chapter 2. Executive Summary
2.1 Market Snapshot
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3. Furfural Market: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Manufacturing Trends
3.4 Technology Overview
3.5 List of Key End-Users
3.6 Regulatory Framework
3.7 Market Dynamics
3.8 Market Dynamics
3.8.1 Market Driver Analysis
3.8.1.1 Increasing Demand For Furfuryl Alcohol
3.8.1.2 Growth In Foundry Industry
3.8.1.3 Emergence Of Major End-use Industries
3.8.2 Market Restraint Analysis
3.8.2.1 Fluctuating Prices Of Raw Materials
3.8.3 Industry Challenges
3.9 Business Environment Analysis
3.9.1 Industry Analysis – Porter’s
3.9.1.1 Threat Of New Entrants
3.9.1.2 Bargaining Power Of Buyers
3.9.1.3 Competitive Rivalry
3.9.1.4 Bargaining Power Of Suppliers
3.9.1.5 Threat Of Substitutes
3.9.2 Pestel Analysis
3.9.2.1 Political
3.9.2.2 Economical
3.9.2.3 Social
3.9.2.4 Technological
3.9.2.5 Environmental
3.9.2.6 Legal
3.9.3 Major Deals & Strategic Alliances
Chapter 4. Furfural Market: Process Estimates & Trend Analysis
4.1 Process movement analysis & market share, 2021 & 2030 (Tons) (USD Thousands)
4.2 Furfural market size & forecasts and trend analysis, by process, 2017 – 2030 (Tons) (USD Thousands)
4.2.1 Quaker Batch Process
4.2.2 Chinese Batch Process
4.2.3 Rosenlew Continuous Process
4.2.4 Others
Chapter 5. Furfural Market: Raw Material Estimates & Trend Analysis
5.1 Raw Material Movement Analysis & Market Share, 2021 & 2030 (Tons) (USD Thousands)
5.2 Furfural Market Size & Forecasts And Trend Analysis, By Raw Material, 2017 – 2030 (Tons) (USD Thousands)
5.2.1 Corncob
5.2.2 Sugarcane Bagasse
5.2.3 Sunflower Hull
5.2.4 Rice Husk
5.2.5 Other
Chapter 6 Furfural Market: Application Estimates & Trend Analysis
6.1 Application movement analysis & market share, 2021 & 2030 (Tons) (USD Thousands)
6.2 Furfural market size & forecasts and trend analysis, by application, 2017 – 2030 (Tons) (USD Thousands)
6.2.1 Furfuryl Alcohol
6.2.2 Solvent
6.2.3 Intermediate
6.2.4 Other
Chapter 7. Furfural Market: End-Use Estimates & Trend Analysis
7.1 End-Use Movement Analysis & Market Share, 2021 & 2030 (Tons) (USD Thousands)
7.2 Furfural Market Size & Forecasts And Trend Analysis, By End-Use, 2017 – 2030 (Tons) (USD Thousands)
7.2.1 Agriculture
7.2.2 Paints & Coatings
7.2.3 Pharmaceuticals
7.2.4 Food & Beverages
7.2.5 Refineries
7.2.6 Other
Chapter 8. Furfural Market: Regional Estimates & Trend Analysis
8.1 Furfural regional movement analysis & market share, 2021 & 2030 (Tons) (USD Thousands)
8.2 Furfural market size & forecasts and trend analysis, by region, 2017 – 2030 (Tons) (USD Thousands)
8.2.1 North America
8.2.1.1 U.S.
8.2.1.2 Canada
8.2.1.3 Mexico
8.2.2 Europe
8.2.2.1 U.K.
8.2.2.2 Germany
8.2.2.3 France
8.2.2.4 Italy
8.2.2.5 Spain
8.2.3 Asia Pacific
8.2.3.1 China
8.2.3.2 India
8.2.3.3 Japan
8.2.3.4 South Korea
8.2.4 Central & South America
8.2.4.1 Brazil
8.2.5 Middle East & Africa
8.2.5.1 Saudi Arabia
8.2.5.2 South Africa

  • By Application
    • Furfuryl Alcohol
    • Solvent
    • Other
  • Material by Row
    • Corn Cobs
    • Rice Husk
    • Sugarcane Bagasse
    • Other
  • End-User
    • Petroleum Refineries
    • Agricultural Formulations
    • Paints & Coatings
    • Pharmaceuticals
    • Other
  • Arco Industries Pvt. Ltd.
  • Central Romana Corporation, Ltd.
  • Hongye Holdings Group Co. Ltd.
  • ILLOVO SUGAR AFRICA (PTY) LTD
  • KRBL Ltd.
  • Lenzing AG
  • Penn A Kem LLC
  • Silvateam
  • Tanin Sevnica d.d.
  • Tieling North Furfural (Group) Co.

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