Furfural Market Size, Share & Trends Analysis Report By Process, By Raw Material (Corncob, Sugarcane Bagasse), By Application (Furfuryl Alcohol, Solvent), By End Use (Pharmaceutical, Refineries), And Segment Forecasts, 2020 - 2027

Furfural Market Growth Market Growth & Trends Trends

The global furfural market size is anticipated to reach USD 1201.9 million by 2027 registering a CAGR of 5.0%, according to a new report by Grand View Research, Inc. Growth can be attributed to the developments of novel derivatives, such as THF by key manufacturers, resulting in the expansion of the application segment. In addition, favorable regulations concerning the inclusion of bio-based products in several end-use industries are penetrating the demand for organic chemicals across several industries, thus triggering the market growth.

Technological advancements in the manufacturing process of furfural are estimated to considerably surge the production yield from key raw materials, thus achieving economies of scale. Key manufacturers in the marketare using novel cost-effective processes to increase product yield along with more efficient utilization of key resources.

Fluctuating prices of raw materials, such as corncob, along with lack of penetration of furfural in the developed countries of Europe and North America have hampered the growth. However, the usage of furfural as a raw material for biofuel can be viewed as a growth opportunity for the market. In addition, rising demand from the manufacturers of industrial chemicals and metal casting is projected to fuel market growth.

The market is moderately fragmented, with small-scale Chinese manufacturers acquiring the majority share. The market is stable, with the majority of the production and consumption taking place in China. Key players across the globe source raw materials that are available in the domestic area as a strategy to reduce operational costs. The inclination of manufacturers towards increasing production capacity and expansion of manufacturing units is estimated to boost the market growth over the forecast period.

Furfural Market Report Highlights

  • The global market is fragmented as the number of companies within furfural business operating in China is relatively high
  • A surge in solvent consumption from several end-use industries, including refining, agriculture, chemical manufacturing, and pharmaceuticals, is driving the market toward high yield production and the expansion of this application segment
  • Increasing demand for furfuryl alcohol from the foundry industries of the Europe and North America markets has increased the focus of the companies on producing furfuryl alcohol using furfural manufactured in their facilities, thus integrating forward and lowering operational costs
  • In 2019, refineries emerged as the dominant end-use segment due to high product demand as a solvent in petroleum refining, specialist adhesives, and lubricants


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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, 2019 & 2027 (Tons) (USD Thousands)
4.2 Furfural market size & forecasts and trend analysis, by process, 2016 - 2027 (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, 2019 & 2027 (Tons) (USD Thousands)
5.2 Furfural Market Size & Forecasts And Trend Analysis, By Raw Material, 2016 - 2027 (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, 2019 & 2027 (Tons) (USD Thousands)
6.2 Furfural market size & forecasts and trend analysis, by application, 2016 - 2027 (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, 2019 & 2027 (Tons) (USD Thousands)
7.2 Furfural Market Size & Forecasts And Trend Analysis, By End-Use, 2016 - 2027 (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, 2019 & 2027 (Tons) (USD Thousands)
8.2 Furfural market size & forecasts and trend analysis, by region, 2016 - 2027 (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
8.2.5.3 Turkey
Chapter 9 Competitive Landscape
9.1 Vendor Landscape
9.2 Competitive Market Environment
9.3 Company Market Positioning
9.4 Strategy Framework
Chapter 10 Company Profiles
10.1 ILLOVO SUGAR AFRICA (PTY) LTD
10.1.1 Company Overview
10.1.2 Financial Performance
10.1.3 Product Benchmarking
10.2 Linzi Organic Chemical Inc. Ltd.
10.2.1 Company Overview
10.2.2 Product Benchmarking
10.3 TransFurans Chemicals bvba
10.3.1 Company Overview
10.3.2 Product Benchmarking
10.4 Central Romana Corporation
10.4.1 Company Overview
10.4.2 Product Benchmarking
10.5 Dalinyebo
10.5.1 Company Overview
10.5.2 Product Benchmarking
10.6 Hebeichem
10.6.1 Company Overview
10.6.2 Product Benchmarking
10.7 Krbl Ltd.
10.7.1 Company Overview
10.7.2 Financial Performance
10.7.3 Product Benchmarking
10.8 Silvateam S.p.a.
10.8.1 Company Overview
10.8.2 Product Benchmarking
10.9 LENZING AG
10.9.1 Company Overview
10.9.2 Financial Performance
10.9.3 Product Benchmarking
10.10 Behran Oil Co.
10.10.1 Company Overview
10.10.2 Product Benchmarking
10.11 Shandong Crownchem Industries Co., Ltd.
10.11.1 Company Overview
10.11.2 Product Benchmarking
10.12 Hongye Holding Group Co., Ltd.
10.12.1 Company Overview
10.12.2 Product Benchmarking
10.13 Tanin d.d.
10.13.1 Company Overview
10.13.2 Product Benchmarking
10.14 Xian Welldon Trading Co., Ltd
10.14.1 Company Overview
10.14.2 Product Benchmarking
10.15 Furnova Polymers Ltd
10.15.1 Company Overview
10.15.2 Product Benchmarking
10.16 NC Nature Chemicals
10.16.1 Company Overview
10.16.2 Product Benchmarking
10.17 Pennakem, LLC
10.17.1 Company Overview
10.17.2 Product Benchmarking
List of Tables
Table 1 List of key end-users
Table 2 Furfural - Regulatory framework
Table 3 Global Metal Casting Production, by Country, 2017 (Tons)
Table 4 Vendor Landscape
Table 5 Furfural Market Volume Estimates & Forecasts, By Process, 2016 - 2027 (Tons, USD Million)
Table 6 Furfural Market Volume Estimates & Forecasts, By Raw Material, 2016 - 2027 (Tons, USD Million)
Table 7 Furfural Market Volume Estimates & Forecasts, By Application, 2016 - 2027 (Tons, USD Million)
Table 8 Furfural Market Volume Estimates & Forecasts, By End-use, 2016 - 2027 (Tons, USD Million)
Table 9 Furfural Market Volume Estimates & Forecasts, By Region, 2016 - 2027 (Tons, USD Million)
List of Figures
Fig. 1 Furfural Market Segmentation & Scope
Fig. 2 Information Procurement
Fig. 3 Primary Research Pattern
Fig. 4 Primary Research Process
Fig. 5 Primary Research Approaches
Fig. 6 Furfural Market Snapshot
Fig. 7 Furfural market revenue (USD Thousands), 2019
Fig. 8 Furfural market volume & revenue, 2016 - 2027 (Tons) (USD Thousands)
Fig. 9 Furfural Market: Value chain analysis
Fig. 10 Market dynamics
Fig. 11 Global Furfuryl Alcohol Consumption, 2016 - 2019, USD Thousands
Fig. 12 Production Value Of Metal Castings in Turkey, 2013-2018 (USD Billion)
Fig. 13 Top 5 oil refining countries, 2019 (1,000 b/d)
Fig. 14 Chemical sales by top countries, 2018 (USD Billion)
Fig. 15 Deflated price indices for corn cob & grain maize, EU-28, 2010-2017
Fig. 16 PORTER’S Analysis
Fig. 17 PESTEL Analysis
Fig. 18 Furfural market volume share, by process, 2019 & 2027 (Tons)
Fig. 19 Furfural market volume share, by raw material, 2019 & 2027 (Tons)
Fig. 20 Furfural market volume share, by application, 2019 & 2027 (Tons)
Fig. 21 Furfural market volume share by end-use, 2019 & 2027 (Tons)
Fig. 22 European Food & Beverage Industry (2016 - 2018) (USD Billion)
Fig. 23 Top 10 largest oil producers worldwide, 2018 (Million Barrels per day)
Fig. 24 Furfural volume market, by region, 2019 & 2027 (Tons)
Fig. 25 German Food & Beverage Industry by Segment, 2018 (%)
Fig. 26 Competitive Market Environment
Fig. 27 Company Market Positioning
Fig. 28 Strategic Initiatives

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