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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 2023-2028

November 2023 | 141 pages | ID: F65ECC6A49E1EN
IMARC Group

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The global furfural market size reached US$ 700 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,060 Million by 2028, exhibiting a growth rate (CAGR) of 7.16% during 2022-2028. 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 2023-2028. 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

The report has provided a detailed breakup and analysis of the furfural market based on the process. This includes quaker batch process, Chinese batch process, rosenlew continuous process, and others. According to the report, Chinese batch process represented the largest segment.

Raw Material Insights:

Corn Cobs
Rice Husk
Sugarcane Bagasse
Others

A detailed breakup and analysis of the furfural market based on the raw material has also been provided in the report. This includes corn cobs, rice husk, sugarcane bagasse, and others. According to the report, corn cobs accounted for the largest market share.

Application Insights:

Furfuryl Alcohol
Solvent
Others

A detailed breakup and analysis of the furfural market based on the application has also been provided in the report. This includes furfuryl alcohol, solvent, and others. According to the report, furfuryl alcohol accounted for the largest market share.

End-User Insights:

Agriculture
Petroleum Refineries
Paints and Coatings
Pharmaceuticals
Others

A detailed breakup and analysis of the furfural market based on the end-user has also been provided in the report. This includes agriculture, petroleum refineries, paints and coatings, pharmaceuticals, and others. According to the report, petroleum refineries accounted for the largest market share.

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

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others); Latin America (Brazil, Mexico, and Others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for furfural. Some of the factors driving the Asia Pacific furfural market included the rising usage in agriculture, easy accessibility of raw materials, application in numerous industry verticals, etc.

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 2022?
2. What is the expected growth rate of the global furfural market during 2023-2028?
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?
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 TABLES

Table 1: Global: Furfural Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Furfural Market Forecast: Breakup by Process (in Million US$), 2023-2028
Table 3: Global: Furfural Market Forecast: Breakup by Raw Material (in Million US$), 2023-2028
Table 4: Global: Furfural Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Furfural Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Furfural Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Furfural Market: Competitive Structure
Table 8: Global: Furfural Market: Key Players

LIST OF FIGURES

Figure 1: Global: Furfural Market: Major Drivers and Challenges
Figure 2: Global: Furfural Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 4: Global: Furfural Market: Breakup by Process (in %), 2022
Figure 5: Global: Furfural Market: Breakup by Raw Material (in %), 2022
Figure 6: Global: Furfural Market: Breakup by Application (in %), 2022
Figure 7: Global: Furfural Market: Breakup by End User (in %), 2022
Figure 8: Global: Furfural Market: Breakup by Region (in %), 2022
Figure 9: Global: Furfural (Quaker Batch Process) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Furfural (Quaker Batch Process) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Furfural (Chinese Batch Process) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Furfural (Chinese Batch Process) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Furfural (Rosenlew Continuous Process) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Furfural (Rosenlew Continuous Process) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Furfural (Other Processes) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Furfural (Other Processes) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Furfural (Corn Cobs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Furfural (Corn Cobs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Furfural (Rice Husk) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Furfural (Rice Husk) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Furfural (Sugarcane Bagasse) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Furfural (Sugarcane Bagasse) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Furfural (Other Raw Materials) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Furfural (Other Raw Materials) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Furfural (Furfuryl Alcohol) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Furfural (Furfuryl Alcohol) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Furfural (Solvent) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Furfural (Solvent) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Furfural (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Furfural (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Furfural (Agriculture) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Furfural (Agriculture) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Furfural (Petroleum Refineries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Furfural (Petroleum Refineries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Furfural (Paints and Coatings) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Furfural (Paints and Coatings) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Furfural (Pharmaceuticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Furfural (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Furfural (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Furfural (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: North America: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: North America: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: United States: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: United States: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Canada: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Canada: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Asia-Pacific: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Asia-Pacific: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: China: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: China: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Japan: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Japan: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: India: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: India: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: South Korea: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: South Korea: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Australia: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Australia: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Indonesia: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Indonesia: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Europe: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Europe: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Germany: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Germany: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: France: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: France: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: United Kingdom: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: United Kingdom: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Italy: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Italy: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Spain: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Spain: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Russia: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Russia: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Others: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Others: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Latin America: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Latin America: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Brazil: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Brazil: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Mexico: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Mexico: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Others: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Others: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Middle East and Africa: Furfural Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Middle East and Africa: Furfural Market: Breakup by Country (in %), 2022
Figure 89: Middle East and Africa: Furfural Market Forecast: Sales Value (in Million US$), 2023-2028
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


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