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

$ PRICE - $ 3,000.00$ 8,900.00

Furfural Market: By Raw Material (Corn Cob, Sugarcane bagasse, Rice husk, and Others), By Application (Solvents, Derivatives, and Others), By End User (Agrochemical Industry, Pharmaceutical and Medical Industry, Paints & Coatings Industry, Energy Industry, and Others), and Geography

 

 

$ PRICE - $ 3,000.00$ 8,900.00
Clear selection
Clear
$ PRICE - $ 3,000.00$ 8,900.00
FacebookTwitterLinkedinEmail

Report

Description

Furfural Market Size is valued at approximately USD 693.5 million in 2021 and is predicted to exceed a significant CAGR of 5.2 percent between 2022 and 2028. Furfural is widely used as a solvent or intermediate in various end-use industries such as foundry, agriculture, paints and coatings, pharmaceuticals, refineries, chemicals, automotive, and construction. Over the forecast period, the expanding construction sector is expected to supplement the demand for the product in several refractory materials, including ceramics, bricks, and fiberglass composites. Furfuryl alcohol is a chemical that is derived from furfural. Furfuryl alcohol plays a vital role in producing foundry sand binders due to its high reactivity. This alcohol has been extensively used for making cores and mold for metal for many decades. This is also used in the production of tetrahydrofurfuryl alcohol (THFA), widely used in the pharmaceutical industry. The increasing applications of furfuryl alcohol in various sectors are anticipated to drive the market’s growth over the forecast years. Market participants have observed an increase in the use of furfural-based products in the agrochemical industry as insecticides, nematicides, and fungicides. It is a component of several nematicides, including crop protectors and crop guards, which are also used as weed killers in horticulture. As an agrochemical, furfural is comparatively very harmless and easy to apply. In 2019, the Corn Cob segment accounted for a larger revenue share and is projected to grow with a CAGR of 5.0% from 2022 to 2028. Corncob is the most desired product because it has the highest hemicellulose content (30.0-35.0%) of any proven raw material for furfural. It has a higher economic value because it yields more than other products.

Recent Market Developments:

In June 2020, Origin Materials, a US- and Canada-based material development company, committed to the commercial manufacture of the versatile and sustainable chemical 5-chloromethyl furfural (CMF). At a commercial scale, Origin’s process produces CMF with a high carbon-negative cradle-to-gate footprint.

In June 2017, Tannin Corporation finalized an agreement to purchase Marden Wild Corporation. Marden Wild will continue to operate as a stand-alone company.

Furfural Market

MARKET SUMMARY
-
5.2% CAGR
  • Study Period– 2022– 2028
  • Base Year– 2021
  • CAGR– 5.2%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– Europe

Furfural Market

  • The 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 furfural market gives historical, current, and future market sizes (US$ Mn) on the basis of raw materials, catalyst type, application, end-user, and region.
Key Players
  • Pennakem, LLC.
  • Silvateam S.p.a
  • Tannin Corporation.
  • Tieling North Furfural (Group) Co.
  • Hongye Holdings Group Co., Ltd.
Furfural Market

Dynamics

Growing demand for furfuryl alcohol and substituting fossil fuel resources with renewable alternatives will drive the market. Furfuryl alcohol is popularly used in the production of plastics and resins. With increased research activities in the field of rocketry fuel, consumption of furfuryl alcohol is expected to increase in the coming years, boosting the furfural market. The low yield of furfural from traditional technology availability of crude oil-based alternatives will hinder the market growth.


Asia Pacific got significant share

Furfural Market

The Asia Pacific generated the highest revenue share in the global furfural market due to high furfural production in the region, especially in China, and growth in several end-use industries, including agriculture, food & beverage, pharmaceutical, and refinery. Europe's market growth can be attributed due to the development of the food & beverages and the pharmaceutical sectors over the last decade.

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

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • 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 start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Segmentation

Furfural Market


Location

GEOGRAPHY

Frequently Asked Questions

The furfural market is projected to expand at a CAGR of 5.2% during the forecast period.

Tüpraş, Central Romana Corporation., Pennakem, LLC., Silvateam S.p.a, Tannin Corporation

The Asia-Pacific is the fastest-growing furfural market


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

Furfural Market Size is valued at approximately USD 693.5 million in 2021 and is predicted to exceed a significant CAGR of 5.2 percent between 2022 and 2028. Furfural is widely used as a solvent or intermediate in various end-use industries such as foundry, agriculture, paints and coatings, pharmaceuticals, refineries, chemicals, automotive, and construction. Over the forecast period, the expanding construction sector is expected to supplement the demand for the product in several refractory materials, including ceramics, bricks, and fiberglass composites. Furfuryl alcohol is a chemical that is derived from furfural. Furfuryl alcohol plays a vital role in producing foundry sand binders due to its high reactivity. This alcohol has been extensively used for making cores and mold for metal for many decades. This is also used in the production of tetrahydrofurfuryl alcohol (THFA), widely used in the pharmaceutical industry. The increasing applications of furfuryl alcohol in various sectors are anticipated to drive the market’s growth over the forecast years. Market participants have observed an increase in the use of furfural-based products in the agrochemical industry as insecticides, nematicides, and fungicides. It is a component of several nematicides, including crop protectors and crop guards, which are also used as weed killers in horticulture. As an agrochemical, furfural is comparatively very harmless and easy to apply. In 2019, the Corn Cob segment accounted for a larger revenue share and is projected to grow with a CAGR of 5.0% from 2022 to 2028. Corncob is the most desired product because it has the highest hemicellulose content (30.0-35.0%) of any proven raw material for furfural. It has a higher economic value because it yields more than other products.

Recent Market Developments:

In June 2020, Origin Materials, a US- and Canada-based material development company, committed to the commercial manufacture of the versatile and sustainable chemical 5-chloromethyl furfural (CMF). At a commercial scale, Origin’s process produces CMF with a high carbon-negative cradle-to-gate footprint.

In June 2017, Tannin Corporation finalized an agreement to purchase Marden Wild Corporation. Marden Wild will continue to operate as a stand-alone company.

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX