The future of the furfural market looks promising with opportunities in the agriculture, paint & coating, pharmaceutical, food & beverage, and refinery sectors. The global furfural market is expected to reach an estimated $869.2 million by 2028 with a CAGR of 6.5% from 2023 to 2028. The major drivers for this market are the wide usage of furfural as a solvent or intermediate in various end use industries, increasing demand for furfuryl alcohol, and expanding usage of furfural in various refractory products such as ceramic composites, fiberglass, and bricks.
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Furfural Market by Segment
The study includes a forecast for the global furfural market by raw material, application, end use industry, and region, as follows:
Furfural Market by Raw Material [Shipment Analysis by Value from 2017 to 2028]:
- Corn Cob
- Sugarcane Bagasse
- Sunflower Hull
- Rice Husk
- Others
Furfural Market by Application [Shipment Analysis by Value from 2017 to 2028]:
- Furfuryl Alcohol
- Solvent
- Intermediate
- Others
Furfural Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:
- Agriculture
- Paints & Coatings
- Pharmaceuticals
- Food & Beverage
- Refineries
- Others
Furfural Market by Region [Shipment Analysis by Value from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Furfural Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leveraging integration opportunities across the value chain. With these strategies furfural companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the furfural companies profiled in this report include:
- Illovo Sugar Africa (Pty.)
- Linzi Organic Chemical
- Trans Furans Chemicals bvba
- Central Romana
- DalinYebo
- Hebeichem
Furfural Market Insights
- The analyst forecasts that corn cob will remain the largest segment over the forecast period as it is a renewable agricultural biomass, which contains a high concentration of pentosane, i. e. up to 32%.
- Refinery is expected to remain the largest segment due to the significant use of furfural as a solvent in the production of specialty adhesives, lubricants, and petroleum refining.
- APAC will remain the largest region due to the presence of key players, existence of large chemical production hub in China, and huge agricultural activities in India.
Features of the Furfural Market
- Market Size Estimates: Furfural market size estimation in terms of value.
- Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Furfural market size by various segments, such as by raw material, application, end use industry, and region
- Regional Analysis: Furfural market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different by raw material, application, end use industry, and regions for the furfural market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the furfural market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQS
Q1. What is the furfural market size?
Answer: The global furfural market is expected to reach an estimated $869.2 million by 2028.
Q2. What is the growth forecast for the furfural market?
Answer: The global furfural market is expected to grow with a CAGR of 6.5% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the furfural market?
Answer: The major drivers for this market are wide usage of furfural as a solvent or intermediate in various end use industries, increasing demand for furfuryl alcohol, and expanding use of furfural in various refractory products such ceramic composites, fiberglass, and bricks.
Q4. What are the major segments for the furfural market?
Answer: The future of the furfural market looks promising with opportunities in the agriculture, paint & coating, pharmaceutical, food & beverage, and refinery sectors.
Q5. Who are the key furfural companies?
Answer: Some of the key furfural companies are as follows:
- Illovo Sugar Africa (Pty.)
- Linzi Organic Chemical
- Trans Furans Chemicals bvba
- Central Romana
- DalinYebo
- Hebeichem
Q6. Which furfural segment will be the largest in future?
Answer: The analyst forecasts that corn cob will remain the largest segment over the forecast period as it is a renewable agricultural biomass, which contains a high concentration of pentosane, i. e. up to 32%.
Q7. In the furfural market, which region is expected to be the largest in the next 5 years?
Answer: APAC will remain the largest region due to the presence of key players, the existence of large chemical production hub in China, and huge agricultural activities in India.
Q8. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% Customization Without any Additional Cost.
This report answers the following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the furfural market by raw material (corn cob, sugarcane bagasse, sunflower hull, rice husk, and others), application (furfuryl alcohol, solvent, intermediate, and others), end use industry (agriculture, paints & coatings, pharmaceuticals, food & beverage, refineries, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
Companies Mentioned
- Illovo Sugar Africa (Pty.)
- Linzi Organic Chemical
- Trans Furans Chemicals bvba
- Central Romana
- DalinYebo
- Hebeichem
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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