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Furfural Market Report by Process, Raw Material, Application, End-User, and Region 2024-2032

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    Report

  • 146 Pages
  • August 2024
  • Region: Global
  • IMARC Group
  • ID: 5912051
Description Jump to:
The global furfural market size reached US$ 770 Million in 2023. Looking forward, the publisher expects the market to reach US$ 1.29 billion by 2032, exhibiting a growth rate (CAGR) of 5.9% during 2023-2032. The increasing production of perfumes and fragrances, rising utilization in the food and beverage (F&B) industry, and the increasing environmental concerns represent some of the key factors driving the market.

Furfural (C4H3O-CHO) refers to the natural compound formed during the dehydration of sugars. It is manufactured from various raw materials, such as sugarcane bagasse, corn cobs, wood waste, and rice husk. It is a colorless liquid, oily in appearance, versatile, and completely miscible with alcohol and ether. It is also a corrosion-preventive substance that is especially effective on low-carbon steel surfaces. It can be easily converted into furfuryl alcohol, tetrahydrofurfuryl alcohol (THFA), tetrahydrofuran, furan, and diols. It offers thermosetting and physical resistance properties that are highly suitable for the production of resins.

It is utilized as food flavoring, fragrance in personal care products, solvents in petrochemical refining to extract dienes from hydrocarbons, lubricants, decolorizing agents, and transportation fuels. It is also employed as pesticides and fertilizers, gasoline additives, jet fuel blend stocks, wood modifier, all-weather repair system for bomb-damaged runways and potholes. Besides this, C4H3O-CHO finds applications in the agriculture, food and beverage (F&B), paints and coatings, and pharmaceutical industries across the globe.

Furfural Market Trends:

At present, the rising demand for C4H3O-CHO to produce perfumes and fragrances in personal care products represents one of the primary factors supporting the growth of the market. Besides this, the growing demand for C4H3O-CHO to produce bioplastics polyethylene furanoate (PEF), which is an alternative to polyethylene terephthalate (PET) and bio-PET for soft drink bottles, is offering a positive market outlook. Additionally, there is a rise in the demand for furfuryl alcohol to produce cores and mold for metal casting around the world. This, coupled with the increasing utilization of C4H3O-CHO in the pharmaceutical industry for the production of tetrahydrofurfuryl alcohol (THFA), is propelling the growth of the market.

Apart from this, the rising demand for C4H3O-CHO derivatives for manufacturing fiberglass and aircraft and automobile components is offering a lucrative growth opportunity to industry players. Moreover, the increasing employment of C4H3O-CHO due to the rising environmental concern around the world, along with the growing need to reduce the dependence on petrochemicals, is positively influencing the market. Furthermore, the rising usage of C4H3O-CHO in the food and beverage (F&B) industry as a flavoring agent or adjuvant in various products is strengthening the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global furfural market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on process, raw material, application, and end-user.

Process Insights:

  • Quaker Batch Process
  • Chinese Batch Process
  • Rosenlew Continuous Process
  • Others

Raw Material Insights:

  • Corn Cobs
  • Rice Husk
  • Sugarcane Bagasse
  • Others

Application Insights:

  • Furfuryl Alcohol
  • Solvent
  • Others

End-User Insights:

  • Agriculture
  • Petroleum Refineries
  • Paints and Coatings
  • Pharmaceuticals
  • Others

Regional Insights:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global furfural market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Some of the companies covered include Behran Oil Company, Central Romana Corporation Ltd., Hongye Holding Group Corporation Limited, Illovo Sugar Ltd. (Associated British Foods plc), KRBL Limited, Lenzing Aktiengesellschaft, Linzi Organic Chemical Inc. Ltd., Pennakem LLC, Shandong Crownchem Industries Co. Ltd, Silvateam S.p.a., Tanin d.d., Sevnica, TransFurans Chemicals bvba, Xian Welldon Trading Co. Ltd, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global furfural market in 2023?
2. What is the expected growth rate of the global furfural market during 2024-2032?
3. What are the key factors driving the global furfural market?
4. What has been the impact of COVID-19 on the global furfural market?
5. What is the breakup of the global furfural market based on the process?
6. What is the breakup of the global furfural market based on the raw material?
7. What is the breakup of the global furfural market based on the application?
8. What is the breakup of the global furfural market based on the end-user?
9. What are the key regions in the global furfural market?
10. Who are the key players/companies in the global furfural market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Furfural Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Process
6.1 Quaker Batch Process
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Chinese Batch Process
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Rosenlew Continuous Process
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Raw Material
7.1 Corn Cobs
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Rice Husk
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Sugarcane Bagasse
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Furfuryl Alcohol
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Solvent
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by End-User
9.1 Agriculture
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Petroleum Refineries
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Paints and Coatings
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Pharmaceuticals
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Behran Oil Company
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 SWOT Analysis
15.3.2 Central Romana Corporation Ltd.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 SWOT Analysis
15.3.3 Hongye Holding Group Corporation Limited
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 SWOT Analysis
15.3.4 Illovo Sugar Ltd. (Associated British Foods plc)
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 SWOT Analysis
15.3.5 KRBL Limited
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 SWOT Analysis
15.3.6 Lenzing Aktiengesellschaft
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 SWOT Analysis
15.3.7 Linzi Organic Chemical Inc. Ltd.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 SWOT Analysis
15.3.8 Pennakem LLC
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 SWOT Analysis
15.3.9 Shandong Crownchem Industries Co. Ltd
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 SWOT Analysis
15.3.10 Silvateam S.p.a.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 SWOT Analysis
15.3.11 Tanin d.d.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 SWOT Analysis
15.3.12 TransFurans Chemicals bvba
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 SWOT Analysis
15.3.13 Xian Welldon Trading Co. Ltd
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
15.3.13.3 SWOT Analysis
15.3.14 Sevnica
15.3.14.1 Company Overview
15.3.14.2 Product Portfolio
List of Figures
Figure 1: Global: Furfural Market: Major Drivers and Challenges
Figure 2: Global: Furfural Market: Sales Value (in Million US$), 2018-2023
Figure 3: Global: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 4: Global: Furfural Market: Breakup by Process (in %), 2023
Figure 5: Global: Furfural Market: Breakup by Raw Material (in %), 2023
Figure 6: Global: Furfural Market: Breakup by Application (in %), 2023
Figure 7: Global: Furfural Market: Breakup by End-User (in %), 2023
Figure 8: Global: Furfural Market: Breakup by Region (in %), 2023
Figure 9: Global: Furfural (Quaker Batch Process) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Furfural (Quaker Batch Process) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Furfural (Chinese Batch Process) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Furfural (Chinese Batch Process) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Furfural (Rosenlew Continuous Process) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Furfural (Rosenlew Continuous Process) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Furfural (Other Processes) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Furfural (Other Processes) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Furfural (Corn Cobs) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Furfural (Corn Cobs) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Furfural (Rice Husk) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Furfural (Rice Husk) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Furfural (Sugarcane Bagasse) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Furfural (Sugarcane Bagasse) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Furfural (Other Raw Materials) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Furfural (Other Raw Materials) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Furfural (Furfuryl Alcohol) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Furfural (Furfuryl Alcohol) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Furfural (Solvent) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Furfural (Solvent) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Furfural (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Furfural (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Furfural (Agriculture) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Furfural (Agriculture) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Furfural (Petroleum Refineries) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Furfural (Petroleum Refineries) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Furfural (Paints and Coatings) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Furfural (Paints and Coatings) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Global: Furfural (Pharmaceuticals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Global: Furfural (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Global: Furfural (Other End-Users) Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Global: Furfural (Other End-Users) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: North America: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: North America: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: United States: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: United States: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Canada: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Canada: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Asia-Pacific: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Asia-Pacific: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: China: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: China: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Japan: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Japan: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: India: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: India: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: South Korea: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: South Korea: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Australia: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Australia: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Indonesia: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Indonesia: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Others: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Others: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Europe: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Europe: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Germany: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Germany: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: France: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: France: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: United Kingdom: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: United Kingdom: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Italy: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Italy: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Spain: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Spain: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Russia: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Russia: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Others: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Others: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Latin America: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Latin America: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Brazil: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Brazil: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 83: Mexico: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 84: Mexico: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 85: Others: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 86: Others: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 87: Middle East and Africa: Furfural Market: Sales Value (in Million US$), 2018 & 2023
Figure 88: Middle East and Africa: Furfural Market: Breakup by Country (in %), 2023
Figure 89: Middle East and Africa: Furfural Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 90: Global: Furfural Industry: SWOT Analysis
Figure 91: Global: Furfural Industry: Value Chain Analysis
Figure 92: Global: Furfural Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Furfural Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Furfural Market Forecast: Breakup by Process (in Million US$), 2024-2032
Table 3: Global: Furfural Market Forecast: Breakup by Raw Material (in Million US$), 2024-2032
Table 4: Global: Furfural Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Furfural Market Forecast: Breakup by End-User (in Million US$), 2024-2032
Table 6: Global: Furfural Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Furfural Market: Competitive Structure
Table 8: Global: Furfural Market: Key Players

Companies Mentioned

  • Behran Oil Company
  • Central Romana Corporation Ltd.
  • Hongye Holding Group Corporation Limited
  • Illovo Sugar Ltd. (Associated British Foods plc)
  • KRBL Limited
  • Lenzing Aktiengesellschaft
  • Linzi Organic Chemical Inc. Ltd.
  • Pennakem LLC
  • Shandong Crownchem Industries Co. Ltd
  • Silvateam S.p.a.
  • Tanin d.d.
  • Sevnica
  • TransFurans Chemicals bvba
  • Xian Welldon Trading Co. Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages146
PublishedAugust 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 0.77 Billion
Forecasted Market Value ( USD ) by 2032 $ 1.29 Billion
Compound Annual Growth Rate5.9%
Regions CoveredGlobal
No. of Companies Mentioned14

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