Furfural Market: Global Furfural Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Furfural Market: By Raw Materials (Lignocellulosic Feedstock and Agricultural Raw Materials), By Catalyst Type (Solid Acid Type Catalyst and Liquid Acid Type Catalyst), Application (Solvents, Resins, Gasoline Additives, Fungicides, Flavor Enhancers, Decolorizing Agents and Agricultural Raw Materials), By End User (Agrochemical Industry, Pharmaceutical and Medical Industry, Lubricants Industry, Cements Industry, Energy Industry, Adhesives Industry, Coatings Industry, Food and Beverages Industry and Others) and Geography

 

 

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Report

Description

The global Furfural market is estimated to be valued at US$ 460.3 Mn in 2020 and is poised to grow around 6.1% CAGR over 2020-2021. Growing environmental concerns, increase in consumption of pesticides and fungicides in the agriculture sector, growing awareness regarding using eco-friendly products and changing trends in food & beverages in customers are some key factors fueling the market growth. In addition, increasing demand from emerging economies provides huge growth opportunities for the market. Global Furfural market report gives a comprehensive outlook on furfural across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The report on the global market gives historical, current, and future market sizes (US$ Mn) on the basis of raw materials, catalyst type, application, end-user, and region. This report studies Global market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global furfural market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the global furfural market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policymakers, and healthcare service providers engaged in global furfural products. Global Furfural market is surging owing to frequent acquisitions and launchings by the market players. For Instance, Chinese producers hold the lion share of the market and hence the global prices of the material is mainly determined by the Chinese domestic issues including labor cost, government policies, and natural calamities. The presence of a large number of small-scale manufacturers imposes threats to the large MNCs in terms of their price.


Furfural Market

MARKET SUMMARY
-
6.1% CAGR
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 6.1%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– Asia Pacific

Furfural Market

  • Global furfural market expanding at significant CAGR over 2021 to 2027 owing to increasing demand for furfuryl alcohol.
  • Based on raw materials, agricultural raw materials segment accounted for larger market revenue share in 2020 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in global Furfural market
Market Key Players
  • International Furan Chemicals B.V. (The Netherlands)
  • Zibo Xinye Chemical Co., Ltd. (China)
  • Zhucheng Taisheng Chemical Co., Ltd. (China)
  • Transfurans Chemicals bvba (Belgium)
  • Tanin Sevnica d.d. (Slovenia)
  • Silvateam S.p.a. (Italy)
Drivers And Restraints

Furfural Market

Furfural is mainly used in the manufacturing of furfuryl alcohol as it offers superior binding properties and mechanical strength which are most needed in sand molds and cores of foundries. It is industrially produced by the catalytic hydrogenation of furfural under high pressures. It is extensively used in the plastic and resins. The consumption of furfuryl alcohol is increasing due to the rising research activities in the rocketry fuel field. Developing regions held major share in the production and consumption of alcohol with concern for renewable materials and growing population. The key challenge in the Market is the lack of improvement in technology. There is a need for continuous inventions as it is most fluid market to deliver advanced performing products to the verticals so that they can compete against rising competition and supply the growing demand, increasing raw material prices and growing population efficiently without increasing their prices immensely.


Asia Pacific got significant share

Furfural Market

Asia Pacific accounted for larger revenue share in global furfural market with considerable CAGR due to availability of raw materials, increase in disposable incomes and low manufacturing costs in the region. In addition, increase in the market from end-user industries enhances the market growth in the region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market and forecast (2021-2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Segmentation

Furfural Market


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • International Furan Chemicals B.V. (The Netherlands)
  • Zibo Xinye Chemical Co., Ltd. (China)
  • Zhucheng Taisheng Chemical Co., Ltd. (China)
  • Transfurans Chemicals bvba (Belgium)
  • Tanin Sevnica d.d. (Slovenia)
  • Silvateam S.p.a. (Italy)
  • NC-Nature Chemicals Dr. Kruppa GmbH (Germany)
  • Lenzing AG (Austria)
  • Hongye Holding Group Corporation Limited (China)

Description

The global Furfural market is estimated to be valued at US$ 460.3 Mn in 2020 and is poised to grow around 6.1% CAGR over 2020-2021. Growing environmental concerns, increase in consumption of pesticides and fungicides in the agriculture sector, growing awareness regarding using eco-friendly products and changing trends in food & beverages in customers are some key factors fueling the market growth. In addition, increasing demand from emerging economies provides huge growth opportunities for the market. Global Furfural market report gives a comprehensive outlook on furfural across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The report on the global market gives historical, current, and future market sizes (US$ Mn) on the basis of raw materials, catalyst type, application, end-user, and region. This report studies Global market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global furfural market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the global furfural market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policymakers, and healthcare service providers engaged in global furfural products. Global Furfural market is surging owing to frequent acquisitions and launchings by the market players. For Instance, Chinese producers hold the lion share of the market and hence the global prices of the material is mainly determined by the Chinese domestic issues including labor cost, government policies, and natural calamities. The presence of a large number of small-scale manufacturers imposes threats to the large MNCs in terms of their price.

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