
Furfural Market Report by Process (Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process, and Others), Raw Material (Corn Cobs, Rice Husk, Sugarcane Bagasse, and Others), Application (Furfuryl Alcohol, Solvent, and Others), End-User (Ag
Description
Furfural Market Report by Process (Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process, and Others), Raw Material (Corn Cobs, Rice Husk, Sugarcane Bagasse, and Others), Application (Furfuryl Alcohol, Solvent, and Others), End-User (Agriculture, Petroleum Refineries, Paints and Coatings, Pharmaceuticals, and Others), and Region 2024-2032
The global furfural market size reached US$ 770 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,290 Million by 2032, exhibiting a growth rate (CAGR) of 5.7% during 2024-2032. 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:
IMARC Group 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
146 Pages
- 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
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