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Global Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk), Application (Derivatives, Solvents), End-use Industry (Agriculture, Paint & Coatings, Pharmaceuticals, Food & Beverages, Refineries), and Region - Forecast to 2028

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    Report

  • 232 Pages
  • December 2023
  • Region: Global
  • Markets and Markets
  • ID: 4847017
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Asian Economies to Witness Relatively Higher Growth Rate for the Furfural Market

The global market size for furfural is projected to grow from USD 662 million in 2023 to USD 767 million by 2028, at a CAGR of 2.9% from 2023 to 2028. Its diverse applications in pharmaceuticals, agriculture, and various chemical processes underscore its significance. The furfural market, a holistic ecosystem encompassing production to end-use, is shaped by diverse factors. An essential driver is the escalating demand for sustainable alternatives, propelling market progression. Overcoming limitations related to low productivity and feedstock concentration presents a hurdle. In the broader spectrum of bio-based chemicals, the furfural market signifies a collective leap towards greener and more sustainable industrial practices. Moreover, the textile industry emerges as an additional opportunity, showcasing furfural's potential applications in this sector.

By Raw Material, corncob segment dominated the market in 2022

The corncob stands out as the principal raw material segment within the furfural market, given its widespread utilization in furfural production. This prevalence is primarily attributed to the substantial presence of xylose and pentosan in corncob, essential components that undergo a pivotal conversion process to yield furfural during synthesis. The abundant content of xylose and pentosan not only positions corncob as the preferred raw material but also emphasizes its integral role in shaping the overall production dynamics and availability of furfural in the market.

By Application, derivatives segment to account for the highest CAGR during the forecast period

Anticipated as the fastest-growing segment in the forecast period, the derivatives application within the furfural market is set to undergo substantial expansion. This accelerated growth is attributed to the robust demand emanating from diverse end-use industries. Furfuryl Alcohol (FA) takes center stage as the major derivative, constituting a significant share of the global furfural production. The heightened demand for furfuryl alcohol is indicative of its widespread utilization across various sectors, underlining its importance as a key driver for the overall growth and prominence of the derivatives application within the furfural market.

By End-use Industry, Agriculture segment to account for the highest CAGR during the forecast period

Agriculture has emerged as the fastest-growing end-use industry in the furfural market, driven by its multifaceted applications and the ever-evolving needs of the agricultural sector. Furfural, a versatile chemical compound, finds extensive use in the synthesis of agrochemicals and pesticides, contributing significantly to crop protection and enhanced yield. The growing global emphasis on sustainable and eco-friendly agricultural practices has propelled the demand for furfural-based products, particularly in the development of bio-based pesticides and fertilizers. As the agricultural industry increasingly seeks innovative solutions to address productivity challenges, furfural's diverse applications position it at the forefront of growth, making agriculture the fastest-growing end-use industry within the furfural market.

APAC to be the biggest region in the Furfural market

In 2022, the Asia-Pacific (APAC) region emerged as the frontrunner in the global furfural market, with China playing a pivotal role as the primary driver of growth. China, boasting the majority share of both global production and consumption of furfural, significantly influenced the market dynamics. The surge in demand within the region was particularly fuelled by the expanding foundry and pharmaceutical industries in China. The robust growth in these sectors, marked by increasing production activities, contributed substantially to the heightened demand for furfural. Notably, beyond China, Thailand has also made significant strides, positioning itself as the major producer and exporter of furfural in the APAC region.

Breakup of Primaries

  • By Company: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
  • By Designation: C-Level: 35%, Director Level: 30%, and Others: 35%
  • By Region: North America: 25%, Europe: 20%, Asia-Pacific: 45%, South America: 5%, and Middle East & Africa: 5%

Companies Covered: Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation Limited (China), KRBL Limited (India), Lenzing AG (Austria), and Merck KGaA (Germany), and others are covered in the furfural market.

Research Coverage

The market study covers the furfural market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on raw material, applications, End-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the furfural market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall furfural market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Shift toward renewable chemicals & growing demand for furfuryl alcohol), restraints (Availability of crude oil-based alternatives), opportunities (Emerging demand from textile and fashion industry) and challenges (raw material price fluctuations) influencing the growth of the furfural market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the furfural market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the furfural market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the furfural market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation Limited (China), KRBL Limited (India), Lenzing AG (Austria), and Merck KGaA (Germany), and among others in the furfural market. The report also helps stakeholders understand the pulse of the furfural market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Furfural Market Segmentation
1.3.2 Years Considered
1.3.3 Regional Scope
1.4 Inclusions and Exclusions
Table 1 Inclusions and Exclusions
1.5 Currency Considered
1.6 Unit Considered
1.7 Stakeholders
1.8 Limitations
1.9 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Furfural Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
2.3 Data Triangulation
Figure 5 Furfural Market: Data Triangulation
2.4 Recession Impact
2.5 Research Assumptions
2.6 Research Limitations
3 Executive Summary
Figure 6 Corncob Segment to Lead Furfural Market During Forecast Period
Figure 7 Derivatives Segment to Dominate Furfural Market
Figure 8 Agriculture to be Largest End-use Industry in Furfural Market
Figure 9 Asia-Pacific Dominated Furfural Market in 2022
4 Premium Insights
4.1 Attractive Opportunities for Players in Furfural Market
Figure 10 Asian Economies to Witness Relatively Higher Growth Rate for Furfural Market
4.2 Asia-Pacific: Furfural Market, by End-use Industry and Country, 2022
Figure 11 China Accounted for Largest Share in Terms of Volume
4.3 Furfural Market, by Country
Figure 12 Furfural Market in China to Grow at Highest CAGR
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 13 Drivers, Restraints, Opportunities, and Challenges in Furfural Market
5.2.1 Drivers
5.2.1.1 Growing Demand for Furfuryl Alcohol
5.2.1.2 Increase in Utilization of Furfural in Agrochemicals and Horticulture
5.2.1.3 Shift Toward Renewable Chemicals
Table 2 Top 30 Chemicals That Can be Obtained from Biomass
5.2.2 Restraints
5.2.2.1 Availability of Crude Oil-based Alternatives
5.2.2.2 Lack of Technological Advancement and Production Process Framework
5.2.3 Opportunities
5.2.3.1 Emerging Demand from Textile and Fashion Industries
5.2.4 Challenges
5.2.4.1 Fluctuations in Raw Material Prices
5.2.4.2 Low Yield of Furfural from Traditional Technology
5.3 Trends & Disruptions Impacting Customer's Business
Figure 14 Revenue Shift for Furfural Manufacturers
5.4 Pricing Analysis
Figure 15 Average Selling Price Trend of Key Players, by Top 3 End-use Industries
Table 3 Average Price Trend of Key Players, by Top 3 End-use Industries (USD/KG), 2022
Figure 16 Average Selling Price Trend, by Region (USD/KG)
Table 4 Average Price Trend, by Region (USD/KG)
5.5 Value Chain Analysis
Figure 17 Value Chain Analysis of Furfural Market
5.6 Ecosystem/Market Map
Figure 18 Furfural Market: Ecosystem Mapping
Table 5 Ecosystem of Furfural Market
5.7 Technology Analysis
5.7.1 Supra Yield Technology
5.7.2 Furfural-based Bioplastics
5.7.3 Furfural's Catalytic Transformation into Value-Added Chemicals
5.7.4 Furfural in Coatings
5.8 Patent Analysis
5.8.1 Introduction
5.8.2 Methodology
5.8.3 Furfural Market, Patent Analysis (2013-2022)
Figure 19 List of Major Patents for Furfural Market (2013-2022)
Table 6 List of Patents for Furfural
5.9 Trade Analysis
Figure 20 Export Scenario, HS Code 293212 Encompassing Furfural or 2-Furaldehyde ""Furfuraldehyde"" (USD Million)
Figure 21 Import Scenario, HS Code 293212 Encompassing Furfural or 2-Furaldehyde ""Furfuraldehyde"" (USD Million)
5.10 Key Conferences and Events in 2023-2024
Table 7 Furfural Market: Detailed List of Conferences & Events, 2023-2024
5.11 Tariff and Regulatory Landscape
5.11.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.11.2 Average Tariff Rates
Table 10 Tariff Related to Furfural
5.11.3 Environmental Standard (China)
5.11.4 Regulation (Ec) No 1272/2008
5.11.5 Regulation (Ec) No 1907/2006
5.12 Porter's Five Forces Analysis
Figure 22 Furfural Market: Porter's Five Forces Analysis
5.12.1 Bargaining Power of Suppliers
5.12.2 Threat of New Entrants
5.12.3 Threat of Substitutes
5.12.4 Bargaining Power of Buyers
5.12.5 Intensity of Competitive Rivalry
5.13 Key Stakeholders and Buying Criteria
5.13.1 Key Stakeholders in Buying Process
Figure 23 Influence of Stakeholders on Buying Process
Table 11 Influence of Stakeholders on Buying Process
5.13.2 Buying Criteria
Figure 24 Key Buying Criteria
Table 12 Key Buying Criteria for Furfural Market
5.14 Case Study Analysis
5.14.1 Use of Pd-Pdo/Znso4 Catalyst in Furfural Manufacturing
5.14.2 Conversion of Furfural into Bio-Chemicals Through Bio-Catalysis
5.15 Macroeconomic Indicators
5.15.1 Introduction
5.15.2 GDP Trends and Forecasts
Table 13 World GDP Growth Projection, 2021-2028 (USD Trillion)
5.15.3 Trends and Forecast of Oil Industry and Its Impact on Furfural Market
Figure 25 Global Oil Production, 2017-2021
6 Furfural Market, by Catalyst
6.1 Introduction
6.2 Solid Acid Type Catalysts
6.3 Liquid Acid Type Catalysts
7 Furfural Market, by Process
7.1 Introduction
7.2 Quaker Batch Process
7.3 Chinese Batch Process
8 Furfural Market, by Raw Material
8.1 Introduction
Table 14 Furfural Yield from Different Types of Raw Materials
Figure 26 Corncob Segment to Dominate Furfural Market During Forecast Period
Table 15 Furfural Market, by Raw Material, 2017-2020 (Ton)
Table 16 Furfural Market, by Raw Material, 2017-2020 (USD Thousand)
Table 17 Furfural Market, by Raw Material, 2021-2028 (Ton)
Table 18 Furfural Market, by Raw Material, 2021-2028 (USD Thousand)
8.2 Corncob
8.2.1 Highest Hemicellulose Content of All Raw Materials for Furfural
8.3 Sugarcane Bagasse (Scb)
8.3.1 Sustainable Sugar Industry By-Product
8.4 Rice Husk
8.4.1 Lowest Content of Hemicellulose
8.5 Other Raw Materials
9 Furfural Market, by Application
9.1 Introduction
Figure 27 Derivatives Segment to Lead Market During Forecast Period
Table 19 Furfural Market, by Application, 2017-2020 (Ton)
Table 20 Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 21 Furfural Market, by Application, 2021-2028 (Ton)
Table 22 Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 23 Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 24 Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
9.2 Derivatives
9.2.1 High Demand in Furfuryl Alcohol Manufacturing to Drive Market
9.3 Solvent
9.3.1 Non-Toxicity Makes Furfural Suitable Alternative to Phenols
9.4 Other Applications
10 Furfural Market, by End-use Industry
10.1 Introduction
Figure 28 Agriculture to be Largest Application of Furfural During Forecast Period
Table 25 Furfural Market, by End-use Industry, 2017-2020 (Ton)
Table 26 Furfural Market, by End-use Industry, 2017-2020 (USD Thousand)
Table 27 Furfural Market, by End-use Industry, 2021-2028 (Ton)
Table 28 Furfural Market, by End-use Industry, 2021-2028 (USD Thousand)
10.2 Agriculture
10.2.1 Growing Demand for Bio-based Pesticides and Herbicides to Drive Market
10.3 Paint & Coatings
10.3.1 Increasing Demand for High-Performance Coatings to Drive Market
10.4 Pharmaceuticals
10.4.1 Advancement in Applications in Pharmaceutical Industry to Drive Market
10.5 Food & Beverages
10.5.1 Growing Demand for Natural Flavors to Drive Market
10.6 Refineries
10.6.1 Expanding Applications in Solvent Extraction to Drive Market
10.7 Other End-use Industries
11 Furfural Market, by Region
11.1 Introduction
Figure 29 China to Record Fastest Growth During Forecast Period
Figure 30 Asia-Pacific Market to Record Fastest-Growth During Forecast Period
Table 29 Furfural Market, by Region, 2021-2028 (Ton)
Table 30 Furfural Market, by Region, 2021-2028 (USD Thousand)
11.2 Asia-Pacific
11.2.1 Recession Impact
Figure 31 Asia-Pacific: Furfural Market Snapshot
Table 31 Asia-Pacific: Furfural Market, by Country, 2021-2028 (Ton)
Table 32 Asia-Pacific: Furfural Market, by Country, 2021-2028 (USD Thousand)
Table 33 Asia-Pacific: Furfural Market, by Application, 2017-2020 (Ton)
Table 34 Asia-Pacific: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 35 Asia-Pacific: Furfural Market, by Application, 2021-2028 (Ton)
Table 36 Asia-Pacific: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 37 Asia-Pacific: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 38 Asia-Pacific: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
Table 39 Asia-Pacific: Furfural Market, by Raw Material, 2017-2020 (Ton)
Table 40 Asia-Pacific: Furfural Market, by Raw Material, 2017-2020 (USD Thousand)
Table 41 Asia-Pacific: Furfural Market, by Raw Material, 2021-2028 (Ton)
Table 42 Asia-Pacific: Furfural Market, by Raw Material, 2021-2028 (USD Thousand)
Table 43 Asia-Pacific: Furfural Market, by End-use Industry, 2017-2020 (Ton)
Table 44 Asia-Pacific: Furfural Market, by End-use Industry, 2017-2020 (USD Thousand)
Table 45 Asia-Pacific: Furfural Market, by End-use Industry, 2021-2028 (Ton)
Table 46 Asia-Pacific: Furfural Market, by End-use Industry, 2021-2028 (USD Thousand)
11.2.2 China
11.2.2.1 Largest Producer of Furfural in World
Table 47 China: Furfural Market, by Application, 2017-2020 (Ton)
Table 48 China: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 49 China: Furfural Market, by Application, 2021-2028 (Ton)
Table 50 China: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 51 China: Furfural Market Size, by Application, 2021-2028 (USD Thousand)
Table 52 China: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.2.3 India
11.2.3.1 Pharmaceutical Industry to be Major Driver of Market
Table 53 India: Furfural Market, by Application, 2017-2020 (Ton)
Table 54 India: Furfural Market Size, by Application, 2017-2020 (USD Thousand)
Table 55 India: Furfural Market, by Application, 2021-2028 (Ton)
Table 56 India: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 57 India: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 58 India: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.2.4 Japan
11.2.4.1 Growing Investment in Chemical and Pharmaceutical Industries
Table 59 Japan: Furfural Market, by Application, 2017-2020 (Ton)
Table 60 Japan: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 61 Japan: Furfural Market Size, by Application, 2021-2028 (Ton)
Table 62 Japan: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 63 Japan: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 64 Japan: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.2.5 Thailand
11.2.5.1 Market to be Driven by Rising Sportswear Industry
Table 65 Thailand: Furfural Market, by Application, 2017-2020 (Ton)
Table 66 Thailand: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 67 Thailand: Furfural Market, by Application, 2021-2028 (Ton)
Table 68 Thailand: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 69 Thailand: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 70 Thailand: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.2.6 Rest of Asia-Pacific
Table 71 Rest of Asia-Pacific: Furfural Market, by Application, 2017-2020 (Ton)
Table 72 Rest of Asia-Pacific: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 73 Rest of Asia-Pacific: Furfural Market, by Application, 2021-2028 (Ton)
Table 74 Rest of Asia-Pacific: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 75 Rest of Asia-Pacific: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 76 Rest of Asia-Pacific: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3 Europe
11.3.1 Recession Impact
Figure 32 Europe: Furfural Market Snapshot
Table 77 Europe: Furfural Market, by Country, 2021-2028 (Ton)
Table 78 Europe: Furfural Market, by Country, 2021-2028 (USD Thousand)
Table 79 Europe: Furfural Market, by Application, 2017-2020 (Ton)
Table 80 Europe: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 81 Europe: Furfural Market, by Application, 2021-2028 (Ton)
Table 82 Europe: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 83 Europe: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 84 Europe: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
Table 85 Europe: Furfural Market, by Raw Material, 2017-2020 (Ton)
Table 86 Europe: Furfural Market, by Raw Material, 2017-2020 (USD Thousand)
Table 87 Europe: Furfural Market, by Raw Material, 2021-2028 (Ton)
Table 88 Europe: Furfural Market, by Raw Material, 2021-2028 (USD Thousand)
Table 89 Europe: Furfural Market, by End-use Industry, 2017-2020 (Ton)
Table 90 Europe: Furfural Market, by End-use Industry, 2017-2020 (USD Thousand)
Table 91 Europe: Furfural Market, by End-use Industry, 2021-2028 (Ton)
Table 92 Europe: Furfural Market, by End-use Industry, 2021-2028 (USD Thousand)
11.3.2 Germany
11.3.2.1 Investments in Chemical & Petrochemical Industry to Drive Market
Table 93 Germany: Furfural Market, by Application, 2017-2020 (Ton)
Table 94 Germany: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 95 Germany: Furfural Market, by Application, 2021-2028 (Ton)
Table 96 Germany: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 97 Germany: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 98 Germany: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3.3 France
11.3.3.1 Strong Base of Plastic Industries to Create Growth Opportunities
Table 99 France: Furfural Market, by Application, 2017-2020 (Ton)
Table 100 France: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 101 France: Furfural Market, by Application, 2021-2028 (Ton)
Table 102 France: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 103 France: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 104 France: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3.4 Italy
11.3.4.1 Intensive Horticulture Activities to Drive Market
Table 105 Italy: Furfural Market, by Application, 2017-2020 (Ton)
Table 106 Italy: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 107 Italy: Furfural Market, by Application, 2021-2028 (Ton)
Table 108 Italy: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 109 Italy: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 110 Italy: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3.5 UK
11.3.5.1 Increasing Focus on Bioenergy to Drive Market
Table 111 UK: Furfural Market, by Application, 2017-2020 (Ton)
Table 112 UK: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 113 UK: Furfural Market, by Application, 2021-2028 (Ton)
Table 114 UK: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 115 UK: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 116 UK: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3.6 Belgium
11.3.6.1 Presence of One of Largest Furfuryl Alcohol Plants Makes Country Major Market
Table 117 Belgium: Furfural Market, by Application, 2017-2020 (Ton)
Table 118 Belgium: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 119 Belgium: Furfural Market Size, by Application, 2021-2028 (Ton)
Table 120 Belgium: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 121 Belgium: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 122 Belgium: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3.7 Netherlands
11.3.7.1 Presence of Major Food & Beverage Companies to Support Market Growth
Table 123 Netherlands: Furfural Market, by Application, 2017-2020 (Ton)
Table 124 Netherlands: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 125 Netherlands: Furfural Market, by Application, 2021-2028 (Ton)
Table 126 Netherlands: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 127 Netherlands: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 128 Netherlands: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.3.8 Rest of Europe
Table 129 Rest of Europe: Furfural Market, by Application, 2017-2020 (Ton)
Table 130 Rest of Europe: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 131 Rest of Europe: Furfural Market, by Application, 2021-2028 (Ton)
Table 132 Rest of Europe: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 133 Rest of Europe: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 134 Rest of Europe: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.4 North America
11.4.1 Recession Impact
Table 135 North America: Furfural Market, by Country, 2021-2028 (Ton)
Table 136 North America: Furfural Market, by Country, 2021-2028 (USD Thousand)
Table 137 North America: Furfural Market, by Application, 2017-2020 (Ton)
Table 138 North America: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 139 North America: Furfural Market, by Application, 2021-2028 (Ton)
Table 140 North America: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 141 North America: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 142 North America: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
Table 143 North America: Furfural Market, by Raw Material, 2017-2020 (Ton)
Table 144 North America: Furfural Market, by Raw Material, 2017-2020 (USD Thousand)
Table 145 North America: Furfural Market, by Raw Material, 2021-2028 (Ton)
Table 146 North America: Furfural Market, by Raw Material, 2021-2028 (USD Thousand)
Table 147 North America: Furfural Market, by End-use Industry, 2017-2020 (Ton)
Table 148 North America: Furfural Market, by End-use Industry, 2017-2020 (USD Thousand)
Table 149 North America: Furfural Market, by End-use Industry, 2021-2028 (Ton)
Table 150 North America: Furfural Market, by End-use Industry, 2021-2028 (USD Thousand)
11.4.2 US
11.4.2.1 Growing Sportswear Market to Fuel Demand
Table 151 US: Furfural Market, by Application, 2017-2020 (Ton)
Table 152 US: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 153 US: Furfural Market, by Application, 2021-2028 (Ton)
Table 154 US: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 155 US: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 156 US: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.4.3 Canada
11.4.3.1 Growth in Agrochemical Market to Boost Demand
Table 157 Canada: Furfural Market, by Application, 2017-2020 (Ton)
Table 158 Canada: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 159 Canada: Furfural Market, by Application, 2021-2028 (Ton)
Table 160 Canada: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 161 Canada: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 162 Canada: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.4.4 Mexico
11.4.4.1 Increasing Investments in Pharmaceutical Industry and Growing Food & Beverage Industry
Table 163 Mexico: Furfural Market, by Application, 2017-2020 (Ton)
Table 164 Mexico: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 165 Mexico: Furfural Market, by Application, 2021-2028 (Ton)
Table 166 Mexico: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 167 Mexico: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 168 Mexico: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5 Middle East & Africa
11.5.1 Recession Impact
Table 169 Middle East & Africa: Furfural Market, by Country, 2021-2028 (Ton)
Table 170 Middle East & Africa: Furfural Market, by Country, 2021-2028 (USD Thousand)
Table 171 Middle East & Africa: Furfural Market, by Application, 2017-2020 (Ton)
Table 172 Middle East & Africa: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 173 Middle East & Africa: Furfural Market, by Application, 2021-2028 (Ton)
Table 174 Middle East & Africa: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 175 Middle East & Africa: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 176 Middle East & Africa: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
Table 177 Middle East & Africa: Furfural Market, by Raw Material, 2017-2020 (Ton)
Table 178 Middle East & Africa: Furfural Market, by Raw Material, 2017-2020 (USD Thousand)
Table 179 Middle East & Africa: Furfural Market, by Raw Material, 2021-2028 (Ton)
Table 180 Middle East & Africa: Furfural Market, by Raw Material, 2021-2028 (USD Thousand)
Table 181 Middle East & Africa: Furfural Market, by End-use Industry, 2017-2020 (Ton)
Table 182 Middle East & Africa: Furfural Market, by End-use Industry, 2017-2020 (USD Thousand)
Table 183 Middle East & Africa: Furfural Market, by End-use Industry, 2021-2028 (Ton)
Table 184 Middle East & Africa: Furfural Market, by End-use Industry, 2021-2028 (USD Thousand)
11.5.2 Gcc Countries
11.5.2.1 Growth in End-use Industries to Propel Market
Table 185 Gcc Countries: Furfural Market, by Application, 2017-2020 (Ton)
Table 186 Gcc Countries: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 187 Gcc Countries: Furfural Market, by Application, 2021-2028 (Ton)
Table 188 Gcc Countries: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 189 Gcc Countries: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 190 Gcc Countries: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5.2.2 Saudi Arabia
11.5.2.2.1 Increasing Opportunities in End-use Industries to Drive Market
Table 191 Saudi Arabia: Furfural Market, by Application, 2017-2020 (Ton)
Table 192 Saudi Arabia: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 193 Saudi Arabia: Furfural Market, by Application, 2021-2028 (Ton)
Table 194 Saudi Arabia: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 195 Saudi Arabia: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 196 Saudi Arabia: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5.2.3 UAE
11.5.2.3.1 Increasing Demand from Food & Beverage Industry to Drive Market
Table 197 UAE: Furfural Market, by Application, 2017-2020 (Ton)
Table 198 UAE: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 199 UAE: Furfural Market, by Application, 2021-2028 (Ton)
Table 200 UAE: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 201 UAE: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 202 UAE: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5.2.4 Rest of Gcc
Table 203 Rest of Gcc: Furfural Market, by Application, 2017-2020 (Ton)
Table 204 Rest of Gcc: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 205 Rest of Gcc: Furfural Market, by Application, 2021-2028 (Ton)
Table 206 Rest of Gcc: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 207 Rest of Gcc: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 208 Rest of Gcc: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5.3 South Africa
11.5.3.1 Significant Export of Furfural to Asia-Pacific and European Countries
Table 209 South Africa: Furfural Market, by Application, 2017-2020 (Ton)
Table 210 South Africa: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 211 South Africa: Furfural Market, by Application, 2021-2028 (Ton)
Table 212 South Africa: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 213 South Africa: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 214 South Africa: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5.4 Dominican Republic
11.5.4.1 Usage of Furfural in Agriculture and Pharmaceutical Industries to Drive Market
Table 215 Dominican Republic: Furfural Market, by Application, 2017-2020 (Ton)
Table 216 Dominican Republic: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 217 Dominican Republic: Furfural Market, by Application, 2021-2028 (Ton)
Table 218 Dominican Republic: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 219 Dominican Republic: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 220 Dominican Republic: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.5.5 Rest of Middle East & Africa
Table 221 Rest of Middle East & Africa: Furfural Market, by Application, 2017-2020 (Ton)
Table 222 Rest of Middle East & Africa: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 223 Rest of Middle East & Africa: Furfural Market, by Application, 2021-2028 (Ton)
Table 224 Rest of Middle East & Africa: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 225 Rest of Middle East & Africa: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 226 Rest of Middle East & Africa: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.6 South America
11.6.1 Recession Impact
Table 227 South America: Furfural Market, by Country, 2021-2028 (Ton)
Table 228 South America: Furfural Market, by Country, 2021-2028 (USD Thousand)
Table 229 South America: Furfural Market, by Application, 2017-2020 (Ton)
Table 230 South America: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 231 South America: Furfural Market, by Application, 2021-2028 (Ton)
Table 232 South America: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 233 South America: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 234 South America: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
Table 235 South America: Furfural Market, by Raw Material, 2017-2020 (Ton)
Table 236 South America: Furfural Market, by Raw Material, 2017-2020 (USD Thousand)
Table 237 South America: Furfural Market, by Raw Material, 2021-2028 (Ton)
Table 238 South America: Furfural Market, by Raw Material, 2021-2028 (USD Thousand)
Table 239 South America: Furfural Market, by End-use Industry, 2017-2020 (Ton)
Table 240 South America: Furfural Market, by End-use Industry, 2017-2020 (USD Thousand)
Table 241 South America: Furfural Market, by End-use Industry, 2021-2028 (Ton)
Table 242 South America: Furfural Market, by End-use Industry, 2021-2028 (USD Thousand)
11.6.2 Brazil
11.6.2.1 Growing Investments Across End-use Industries
Table 243 Brazil: Furfural Market, by Application, 2017-2020 (Ton)
Table 244 Brazil: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 245 Brazil: Furfural Market, by Application, 2021-2028 (Ton)
Table 246 Brazil: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 247 Brazil: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 248 Brazil: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.6.3 Argentina
11.6.3.1 Increasing Investments in Construction Sector and Growing Chemical Sector
Table 249 Argentina: Furfural Market, by Application, 2017-2020 (Ton)
Table 250 Argentina: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 251 Argentina: Furfural Market, by Application, 2021-2028 (Ton)
Table 252 Argentina: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 253 Argentina: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 254 Argentina: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
11.6.4 Rest of South America
Table 255 Rest of South America: Furfural Market, by Application, 2017-2020 (Ton)
Table 256 Rest of South America: Furfural Market, by Application, 2017-2020 (USD Thousand)
Table 257 Rest of South America: Furfural Market, by Application, 2021-2028 (Ton)
Table 258 Rest of South America: Furfural Market, by Derivative Application, 2021-2028 (Ton)
Table 259 Rest of South America: Furfural Market, by Application, 2021-2028 (USD Thousand)
Table 260 Rest of South America: Furfural Market, by Derivative Application, 2021-2028 (USD Thousand)
12 Competitive Landscape
12.1 Overview
Table 261 Overview of Strategies Adopted by Key Furfural Players
12.2 Revenue Analysis of Top Market Players
Figure 33 Revenue Analysis of Key Companies in Furfural Market Over Last Five Years
12.3 Market Share Analysis
Figure 34 Share of Leading Companies in Furfural Market
Table 262 Furfural Market: Degree of Competition
12.4 Company Evaluation Matrix
12.4.1 Stars
12.4.2 Emerging Leaders
12.4.3 Pervasive Players
12.4.4 Participants
Figure 35 Company Evaluation Matrix, 2022
12.5 Company Footprint
Figure 36 Furfural Market: Product Footprint (25 Companies)
Table 263 Furfural Market: Application Footprint (25 Companies)
Table 264 Furfural Market: Regional Footprint (25 Companies)
Table 265 Furfural Market: Company Footprint (25 Companies)
12.6 Start-Up/SME Evaluation Matrix
12.6.1 Progressive Companies
12.6.2 Responsive Companies
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
Figure 37 Start-Up/SME Evaluation Matrix
12.7 Competitive Benchmarking
Table 266 Furfural Market: Detailed List of Key Start-Ups/SMEs
Table 267 Furfural Market: Competitive Benchmarking of Key Players
12.8 Competitive Situations and Trends
12.8.1 Deals
Table 268 Deals, 2019-2023
12.8.2 Others
Table 269 Others, 2019-2023
13 Company Profiles
(Business Overview, Products Offered, Recent Developments, Analyst's View Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats) *
13.1 Key Players
13.1.1 Central Romana Corporation
Table 270 Central Romana Corporation: Company Overview
13.1.2 Lenzing AG
Table 271 Lenzing AG: Company Overview
Figure 38 Lenzing AG: Company Snapshot
Table 272 Lenzing AG: Others
13.1.3 Pennakem, LLC
Table 273 Pennakem, LLC: Company Overview
Table 274 Pennakem, LLC: Deals
Table 275 Pennakem, LLC: Others
13.1.4 Merck KGaA
Table 276 Merck KGaA: Company Overview
Figure 39 Merck KGaA: Company Snapshot
13.1.5 Krbl Limited
Table 277 Krbl Limited: Company Overview
Figure 40 Krbl Limited: Company Snapshot
13.1.6 Illovo Sugar (South Africa) (Pty) Ltd
Table 278 Illovo Sugar (South Africa) (Pty) Ltd.: Company Overview
Table 279 Illovo Sugar (South Africa) (Pty) Ltd.: Others
13.1.7 Silvateam
Table 280 Silvateam: Company Overview
13.1.8 Hongye Holding Group Corporation Limited
Table 281 Hongye Holding Group Corporation Limited: Company Overview
13.1.9 Kanto Chemical Co. Inc.
Table 282 Kanto Chemical Co. Inc.: Company Overview
13.1.10 Tanin
Table 283 Tanin: Company Overview
13.2 Other Players
13.2.1 Laxmi Furals Pvt Ltd
Table 284 Laxmi Furals Pvt Ltd.: Company Overview
13.2.2 Hefei Tnj Chemical Industry Co. Ltd.
Table 285 Hefei Tnj Chemical Industry Co. Ltd.: Company Overview
13.2.3 Furnova Polymers Ltd
Table 286 Furnova Polymers Ltd.: Company Overview
13.2.4 Tokyo Chemical Industry Co. Ltd. (TCI)
Table 287 Tokyo Chemical Industry Co. Ltd. (TCI): Company Overview
13.2.5 Shandong Xinhua Pharma
Table 288 Shandong Xinhua Pharma: Company Overview
13.2.6 Junsei Chemical Co. Ltd.
Table 289 Junsei Chemical Co. Ltd.: Company Overview
13.2.7 A. B. Enterprises
Table 290 A. B. Enterprises: Company Overview
13.2.8 Shandong Yino Biologic Materials Co. Ltd.
Table 291 Shandong Yino Biologic Materials Co. Ltd.: Company Overview
13.2.9 Rx Chemicals
Table 292 Rx Chemicals: Company Overview
13.2.10 Kunshan Odowell Co. Ltd.
Table 293 Kunshan Odowell Co. Ltd.: Company Overview
13.2.11 Central Drug House (P) Ltd.
Table 294 Central Drug House (P) Ltd.: Company Overview
13.2.12 Aecochem
Table 295 Aecochem: Company Overview
13.2.13 Beijing Lys Chemicals Co. Ltd.
Table 296 Beijing Lys Chemicals Co. Ltd.: Company Overview
13.2.14 Zhucheng Taisheng Chemical Co. Ltd.
Table 297 Zhucheng Taisheng Chemical Co. Ltd.: Company Overview
13.2.15 Xingtai Chunlei Furfuryl Alcohol Co. Ltd.
Table 298 Xingtai Chunlei Furfuryl Alcohol Co. Ltd. Nc.: Company Overview
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View, Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats Might Not be Captured in Case of Unlisted Companies
14 Adjacent & Related Market
14.1 Introduction
14.2 Tetrahydrofuran (Thf) Market
14.2.1 Market Definition
14.2.2 Market Overview
14.3 Tetrahydrofuran Marekt, by Process Technology
Table 299 Thf Market, by Process Technology, 2015-2022 (Kiloton)
Table 300 Thf Market, by Process Technology, 2015-2022 (USD Million)
14.4 Tetrahydrofuran Marekt, by Application
Table 301 Thf Market, by Application, 2015-2022 (Kiloton)
Table 302 Thf Market, by Application, 2015-2022 (USD Million)
14.5 Tetrahydrofuran Market, by Region
Table 303 Thf Market, by Region, 2015-2022 (Kiloton)
Table 304 Thf Market, by Region, 2015-2022 (USD Million)
15 Appendix
15.1 Discussion Guide
15.2 KnowledgeStore: The Subscription Portal
15.3 Customization Options

Executive Summary

Companies Mentioned

  • A. B. Enterprises
  • Aecochem
  • Beijing Lys Chemicals Co. Ltd.
  • Central Drug House (P) Ltd.
  • Central Romana Corporation
  • Furnova Polymers Ltd
  • Hefei Tnj Chemical Industry Co. Ltd.
  • Hongye Holding Group Corporation Limited
  • Illovo Sugar (South Africa) (Pty) Ltd
  • Junsei Chemical Co. Ltd.
  • Kanto Chemical Co. Inc.
  • Krbl Limited
  • Kunshan Odowell Co. Ltd.
  • Laxmi Furals Pvt Ltd
  • Lenzing AG
  • Merck KGaA
  • Pennakem, LLC
  • Rx Chemicals
  • Shandong Xinhua Pharma
  • Shandong Yino Biologic Materials Co. Ltd.
  • Silvateam
  • Tanin
  • Tokyo Chemical Industry Co. Ltd. (TCI)
  • Xingtai Chunlei Furfuryl Alcohol Co. Ltd.
  • Zhucheng Taisheng Chemical Co. Ltd.

Table Information

Report AttributeDetails
No. of Pages232
PublishedDecember 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 662 Million
Forecasted Market Value ( USD ) by 2028 $ 767 Million
Compound Annual Growth Rate2.9%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Furfural Market

Furfural is a naturally occurring aromatic aldehyde derived from the dehydration of pentose sugars. It is used in the fragrance, flavor and aroma chemical industries as a flavoring agent, fragrance enhancer, and odorant. Furfural has a sweet, nutty, and slightly woody aroma, and is used in a variety of applications, including perfumes, cosmetics, food, and beverages. It is also used as a solvent in the production of pharmaceuticals, and as a preservative in the production of food and beverages. Furfural is a versatile and cost-effective ingredient, and is used in a variety of products, including fragrances, flavors, and aroma chemicals. It is also used in the production of polymers, resins, and adhesives. Furfural is a renewable resource, and is produced from agricultural waste, such as corn cobs and wheat straw. Companies in the furfural market include BASF, Dow Chemical, Eastman Chemical, Evonik Industries, and Solvay. Show Less Read more

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