Furfural Market: Industry Analysis and Forecast (2021-2027) by Raw Material, End-user, Application and Region

Furfural Market was valued at US$ 494.1 Mn. in 2020 and is expected to reach US$ 762.8 Mn. by 2027, at a CAGR of 6.4% during a forecast period.

Furfural Market Overview:

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Furfural market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Furfural market. Global Furfural Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Furfural Market Dynamics:

Increasing demand of Furfural alcohol: Furfural alcohol is a substance produced from furfural. Because of its high reactivity, furfural alcohol is essential in the manufacturing of foundry sand binders. For many decades, this alcohol has been widely utilized to make metal cores and molds. Tetrahydrofurfuryl alcohol (THFA), which is frequently utilized in the pharmaceutical business, is also made from it. According to the World Foundry Organization, India's foundry sector is expected to grow at a CAGR of 13.0 to 14.0 % until 2027, making it the world's second-largest behind China. As a result, the rising foundry business is driving up demand for furfuryl alcohol, which is driving up prices. Availability of crude oil-based alternatives: The market for furfural is being stifled by the availability of crude oil-based rival products that are cheaper. Furan resin is used to make binders in the foundry sector. According to some key responses, phenolic resin, which is made from crude oil, is less expensive than furan resin. Butanediol (BDO) is also used in the textile sector to make polytetramethylene ether glycol (PTMEG), which is used to make spandex. THF, a furfural derivative, can be used to manufacture spandex, however because of the higher cost associated with furfural manufacturing, it is less preferred than BDO. Emerging demand for furfural derivatives (apart from furfuryl alcohol) in various applications: Due to its high strength and elastic qualities, spandex is seeing an increase in demand from the textile and garment industries. In recent years, the spandex fibres market has benefited from changes in the textile sector and rising health consciousness. This will most likely fuel the demand for PTMEG, a THF application. Furfural is used to make THF, which is one of the furan derivatives. Another chemical created from PTMEG is polyurethane (PU). PU is utilized in a variety of industries, including apparel, appliances, automotive, construction, flooring, furniture, marine, and medical. Furfural is an important renewable, non-petroleum based, chemical feedstock. It can be converted into a variety of solvents, polymers, fuels and other useful chemicals by a range of catalytic reductions. Furfural is produced from agricultural waste biomass that contains pentosans, which are aldose sugars composed of small rings formed from short, five-member chains. These aldose sugars constitute a class of complex carbohydrates. The Strong alteration towards the development of bio-based chemicals on account of volatile petrochemical prices and growing environmental concerns is a key driver behind the growth of global furfural market. Furfural is used as a solvent in refining of lubrication oils, extraction of butadiene, and chemical extraction processes of different types. Rapid growth of the construction industry is expected to augment the demand for furfural for the use in various refractory materials such as fiberglass composites, ceramics, and bricks in the near future. Depletion of fossil fuel resources is driving the demand for sustainable products. This, in turn, is boosting the demand for furfural worldwide.

Global Furfural Market Segment Analysis:

Based on the raw material, The Sugarcane Bagasse segment accounted for the largest share in the furfural market in 2017 followed by Corn cob. Sugarcane is a tree-free renewable resource. Sugarcane bagasse is the major by-product of the sugar cane industry. It contains about 50% cellulose, 25% hemicellulose and 25% lignin. Due to its abundant availability, it can serve as an ideal substrate for microbial processes for the production of value-added products such as furfural. Furfural based on corn cob and sugarcane bagasse raw materials together accounted for half of the market share in 2015, in terms of revenue. Based on end-user, the global furfural market is sub-segmented into Agriculture, Refineries, and Pharmaceuticals. The Refineries segment held largest share of xx% in 2020. Its significant consumption as a solvent in petroleum refining, specialty adhesives, and lubricants accounts for this high percentage. In the agrochemical sector, furfural is widely used as an insecticide, nematicide, and fungicide. It's found in a variety of nematicides, such as crop protectors and crop guards. In horticulture, the substance is also used as a weed killer. It's a low-concentration contact nematicide that's mechanically integrated or transported into the soil during irrigation. It's a somewhat safe pesticide that's simple to use. Global Furfural Market 1 Based on the application, Furfuryl alcohol application segment accounted the major share of furfural market and it is expected to dominate the market during forecast period. Furfuryl alcohol is the most important application of Furfural. At present, approximately 88 percent of all furfural produced is converted to furfuryl alcohol attributed to demand for this product in the production of foundry resins. Furfural as a solvent is the second largest application for furfural globally. Furfural is used to manufacture tetrahydrofuran (THF), which is precursor for a wide range of chemical syntheses.

Global Furfural Market Regional Insights:

  Geographically, Asia pacific holds the major share of furfural market and it is expected to dominate the global furfural market during forecast period. This can be credited to the increase in the market for end-user industries such as petroleum refineries, pharmaceuticals, paints & coatings, agricultural formulations, and others.

Global Furfural Market Scope  : Inquire before buying

Global Furfural Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 494.1 Mn.
Forecast Period 2021 to 2027 CAGR: 6.4% Market Size in 2027: US $ 762.8 Mn.
Segments Covered: by Raw material • Corn Cob • Rice Husk • Sugarcane Bagasse • Others
by End-user • Agriculture • Refineries • Pharmaceuticals
by Application • Furfuryl alcohol • Solvent • Intermediate • Others

Global Furfural Market, By Raw Material

• Corn Cob • Rice Husk • Sugarcane Bagasse • Others

Global Furfural Market, By Application

• Furfuryl Alcohol • Solvents • Chemical Intermediates • Pharmaceuticals • Others

Global Furfural Market, By Region:

• North America • Europe • Asia Pacific • Middle East & Africa • South America

Global Furfural Market Key Players

Central Romana • Hongye Holding • Illovo Sugar Ltd. • Lenzing AG • Penn A Kem LLC • Silvateam S.p.A. • Tanin Senvica d.d. • Aurus Specialty Company • Henan Huilong Chemical Co. • Shandong Crownchem • Tieling North Furfural • Transfuran Chemicals • Central Romana Co • Tanin • Hebeichem • Linzi Organic Chemical • Arcoy • Behran Oil Co.

Frequently Asked Questions:

1. Which region has the largest share in Global Furfural Market? Ans: Asia pacific region holds the highest share in 2020. 2. What is the growth rate of Global Furfural Market? Ans: The Global Furfural Market is growing at a CAGR of 6.4 % during forecasting period 2021-2027. 3. What segments are covered in Global Furfural market? Ans: Global Furfural Market is segmented into raw material, end-user, application and region. 4. Who are the key players in Global Furfural market? Ans: The important key players in the Global Furfural Market are – Central Romana , Hongye Holding , Illovo Sugar Ltd., Lenzing AG, Penn A Kem LLC, Silvateam S.p.A., Tanin Senvica d.d., Aurus Specialty Company, Henan Huilong Chemical Co., Shandong Crownchem , Tieling North Furfural , Transfuran Chemicals, Central Romana Co, Tanin. 5. What is the study period of this market? Ans: The Global Furfural Market is studied from 2020 to 2027.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Furfural Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Furfural Market 3.4. Geographical Snapshot of the Furfural Market, By Manufacturer share 4. Global Furfural Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Furfural Market 5. Supply Side and Demand Side Indicators 6. Global Furfural Market Analysis and Forecast, 2020-2027 6.1. Global Furfural Market Size & Y-o-Y Growth Analysis. 7. Global Furfural Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast Raw material, 2020-2027 7.1.1. Corn Cob 7.1.2. Rice Husk 7.1.3. Sugarcane Bagasse 7.1.4. Others 7.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 7.2.1. Agriculture 7.2.2. Refineries 7.2.3. Pharmaceuticals 7.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 7.3.1. Furfuryl alcohol 7.3.2. Solvent 7.3.3. Intermediate 7.3.4. Others 8. Global Furfural Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Furfural Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast Raw material, 2020-2027 9.1.1. Corn Cob 9.1.2. Rice Husk 9.1.3. Sugarcane Bagasse 9.1.4. Others 9.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 9.2.1. Agriculture 9.2.2. Refineries 9.2.3. Pharmaceuticals 9.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 9.3.1. Furfuryl alcohol 9.3.2. Solvent 9.3.3. Intermediate 9.3.4. Others 10. North America Furfural Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Furfural Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 11.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 11.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 12. Canada Furfural Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 12.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 12.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 13. Mexico Furfural Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 13.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 13.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 14. Europe Furfural Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 14.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 14.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 15. Europe Furfural Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Furfural Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 16.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 16.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 17. France Furfural Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 17.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 17.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 18. Germany Furfural Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 18.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 18.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 19. Italy Furfural Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 19.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 19.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 20. Spain Furfural Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 20.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 20.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 21. Sweden Furfural Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 21.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 21.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 22. CIS Countries Furfural Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 22.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 22.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 23. Rest of Europe Furfural Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 23.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 23.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 24. Asia Pacific Furfural Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 24.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 24.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 25. Asia Pacific Furfural Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Furfural Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 26.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 26.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 27. India Furfural Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 27.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 27.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 28. Japan Furfural Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 28.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 28.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 29. South Korea Furfural Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 29.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 29.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 30. Australia Furfural Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 30.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 30.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 31. ASEAN Furfural Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 31.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 31.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 32. Rest of Asia Pacific Furfural Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 32.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 32.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 33. Middle East Africa Furfural Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 33.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 33.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 34. Middle East Africa Furfural Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Furfural Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 35.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 35.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 36. GCC Countries Furfural Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 36.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 36.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 37. Egypt Furfural Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 37.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 37.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 38. Nigeria Furfural Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 38.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 38.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 39. Rest of ME&A Furfural Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 39.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 39.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 40. South America Furfural Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 40.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 40.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 41. South America Furfural Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Furfural Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 42.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 42.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 43. Argentina Furfural Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 43.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 43.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 44. Rest of South America Furfural Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Raw material, 2020-2027 44.2. Market Size (Value) Estimates & Forecast By End-user, 2020-2027 44.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Furfural Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Central Romana 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Hongye Holding 45.3.3. Illovo Sugar Ltd. 45.3.4. Lenzing AG 45.3.5. Penn A Kem LLC 45.3.6. Silvateam S.p.A. 45.3.7. Tanin Senvica d.d. 45.3.8. Aurus Specialty Company 45.3.9. Henan Huilong Chemical Co. 45.3.10. Shandong Crownchem 45.3.11. Tieling North Furfural 45.3.12. Transfuran Chemicals 45.3.13. Central Romana Co 45.3.14. Tanin 45.3.15. Hebeichem 45.3.16. Linzi Organic Chemical 45.3.17. Arcoy 45.3.18. Behran Oil Co. 46. Primary Key Insights

About This Report

Report ID 27396
Category Material & Chemical
Published Date Jan 2020
Updated Date Sept 2021
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