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Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk and Others), Application (Derivatives (Furfural Alcohol and Other Derivatives), solvent) and Region (Asia-Pacific, Americas, Europe, Middle East and Africa) - Global Forecast to 2024

  • ID: 4847017
  • Report
  • October 2019
  • Region: Global, North America, Europe, Asia Pacific, Latin America, Middle East, Africa
  • 102 Pages
  • Markets and Markets
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The Furfural Market Size is Estimated to Grow from USD 551 Million in 2019 and to USD 700 Million by 2024, at a CAGR of 4.9%

FEATURED COMPANIES

  • Aurus Specialty Chemicals
  • Furnova Polymers
  • KRBL
  • NC Nature Chemicals
  • Silvateam
  • TCI Chemicals
  • MORE

The rising demand for furfuryl alcohol for the production of derivatives is driving the market, globally.



The furfural market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period. The market is driven by the increasing use of various derivatives of furfural in different industries and shift toward green chemicals.

The corncob-based furfural segment is projected to register the highest CAGR during the forecast period.

Corncob is estimated to be the fastest-growing raw material for the manufacturing of furfural. This is due to the high pentosan content in corncobs, resulting in a high yield of furfural. The majority of the furfural manufacturing plants in the world use corncobs.

The derivatives segment is expected to be the largest application of furfural during the forecast period.

Furfural is majorly used in the manufacturing of furfural-based chemicals. Among the derivatives, furfuryl alcohol accounts for the largest consumption of furfural. This, in turn, is used in the manufacturing of furan resins. Apart from furfuryl alcohol, furfural is also used in the manufacturing of other derivatives such as THF, furoic acid, and tetrahydrofuranyl alcohol (THFA).

APAC is estimated to be the fastest-growing market during the forecast period.

APAC is estimated to be the fastest-growing furfural market during the forecast period. The region is the largest producer and consumer of furfural. China led the global market for furfural, and it is projected to continue during the forecast period. China is also the largest manufacturer and exporter of furfural globally. Besides China, the market for furfural is also propelled by countries such as Thailand and India.

Extensive primary interviews were conducted to determine and verify the market size of several segments and subsegments and information gathered through secondary research.

The breakup of primary interviews is given below:

  • By Company Type: Tier 1 – 60%, Tier 2 – 30%, and Tier 3 – 10%
  • By Designation: C level –50%, Director Level – 30%, and Others – 20%
  • By Region: Europe – 20%, APAC – 60%, Americas – 10%, Middle East & Africa – 10%

The leading players in the furfural market are Transfuran Chemicals (Belgium), Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation (China), KRBL(India), Lenzing (Austria), Tanin (Slovenia), and Shandong Crownchem Industries (China).

Research Coverage:
This research report categorizes the furfural market on the basis of raw material, application, and region. The report includes detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, and key strategies associated with the market.

Key Benefits of Buying the Report
The report will help leaders/new entrants in this market in the following ways:

  • This report segments the furfural market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
  • The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
  • This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Aurus Specialty Chemicals
  • Furnova Polymers
  • KRBL
  • NC Nature Chemicals
  • Silvateam
  • TCI Chemicals
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Regions Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
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
2.1.3 Market Size Estimation
2.1.3.1 Market Size Estimation: Top-Down Approach
2.1.3.2 Market Size Estimation: Bottom-Up Approach
2.2 Data Triangulation
2.3 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Furfural Market
4.2 APAC Furfural Market, By Country and Application, 2018
4.3 Furfural Market, By Key Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Furfuryl Alcohol
5.2.1.2 Shift Toward Renewable Chemicals
5.2.2 Restraints
5.2.2.1 Availability of Crude Oil-Based Alternatives
5.2.3 Opportunities
5.2.3.1 Emerging Demand for Furfural Derivatives (Apart From Furfuryl Alcohol) in Various Applications
5.2.4 Challenges
5.2.4.1 Low Yield of Furfural From Traditional Technology
5.3 Porter’s Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Furfural Patent Analysis
5.4.1 Insights

6 Furfural Market, By RaW Material
6.1 Introduction
6.2 Sugarcane Bagasse (Scb)
6.2.1 A Sustainable Sugar Industry By-Product, Scb is Available in Abundance in All Regions
6.3 Corncob
6.3.1 Corncob Consists of the Highest Hemicellulose Content of All the RaW Materials for Furfural
6.4 Rice Husk
6.4.1 Rice Husk Has the Lowest Content of Hemicellulose
6.5 Others

7 Furfural Market, By Application
7.1 Introduction
7.2 Derivatives
7.2.1 Huge Demand for Furfural in the Manufacturing of Furfuryl Alcohol is Driving the Market In This Segment
7.3 Solvent
7.3.1 The Non-Toxicity of Furfural Makes It A Suitable Alternative to Phenols for the Refining of Lubricant Oils Through Solvent Extraction
7.4 Others

8 Furfural Market, By Region
8.1 Introduction
8.2 APAC
8.2.1 China
8.2.1.1 Backed By A Strong Pharmaceuticals Market, China is the Largest Producer of Furfural in the World
8.2.2 Thailand
8.2.2.1 The Furfural Market in Thailand is Expected to Be Driven By the Rising Sportswear Industry During the Forecast Period
8.2.3 India
8.2.3.1 The Pharmaceutical Industry is One of the Major Drivers for the Market in the Country
8.2.4 Rest of APAC
8.3 Europe
8.3.1 Belgium
8.3.1.1 The Presence of the World’s Largest Furfuryl Alcohol Plant Makes the Country A Major Market
8.3.2 Netherlands
8.3.2.1 Imports and Exports of Furfural are Driving the Market in the Country
8.3.3 Germany
8.3.3.1 The Growing Foundry Industry is Boosting the Demand for Furfural
8.3.4 Rest of Europe
8.4 Middle East & Africa
8.4.1 South Africa
8.4.1.1 A Significant Amount of Furfural Manufactured in the Country is Exported to APAC and European Countries
8.4.2 Algeria
8.4.2.1 As the Largest Importer of Furfural in Africa, Algeria Holds Growth Potential for the Market
8.4.3 Rest of Middle East & Africa
8.5 Americas
8.5.1 US
8.5.1.1 The Growing Sportswear Market is Expected to Drive the Market in the Country
8.5.2 Rest of Americas

9 Company Profiles
9.1 Central Romana Corporation
9.2 Pennakem
9.3 Illovo Sugar Africa
9.4 Lenzing
9.5 Transfurans Chemicals
9.6 Silvateam
9.7 Hongye Holding Group Corporation
9.8 KRBL
9.9 Tanin
9.10 Shandong Crownchem Industries Limited
9.11 Additional Players
9.11.1 Laxmi Furals Private Limited
9.11.2 Xingtai Chunlei Furfuryl Alcohol
9.11.3 Shanghai Ruizheng Technology
9.11.4 Hefei Tnj Chemical Industry
9.11.5 Zhucheng Taisheng Chemical
9.11.6 NC Nature Chemicals
9.11.7 Furnova Polymers
9.11.8 TCI Chemicals
9.11.9 Beijing Lys Chemicals
9.11.10 Aurus Specialty Chemicals

10 Appendix
10.1 Discussion Guide
10.2 Knowledge Store: Subscription Portal
10.3 Available Customizations
10.4 Related Reports
10.5 Author Details

List of Tables
Table 1 Top 30 Chemicals That Can Be Obtained From Biomass
Table 2 Furfural Yield From Different Types of RaW Materials
Table 3 Furfural Market Size, By RaW Material, 2017–2024 (Ton)
Table 4 Furfural Market Size, By RaW Material, 2017–2024 (USD Thousand)
Table 5 Sugarcane Bagasse: Furfural Market Size, 2017–2024 (Ton)
Table 6 Sugarcane Bagasse: Furfural Market Size, 2017–2024 (USD Thousand)
Table 7 Corncob: Furfural Market Size, 2017–2024 (Ton)
Table 8 Corncob: Furfural Market Size, 2017–2024 (USD Thousand)
Table 9 Rice Husk: Furfural Market Size, 2017–2024 (Ton)
Table 10 Rice Husk: Furfural Market Size, 2017–2024 (USD Thousand)
Table 11 Other RaW Materials: Furfural Market Size, 2017–2024 (Ton)
Table 12 Other RaW Materials: Furfural Market Size, 2017–2024 (USD Thousand)
Table 13 Furfural Market Size, By Application, 2017–2024 (Ton)
Table 14 Furfural Market Size, By Application, 2017–2024 (USD Thousand)
Table 15 Furfural Market Size, By Derivatives, 2017–2024 (Ton)
Table 16 Furfural Market Size, By Derivatives, 2017–2024 (USD Thousand)
Table 17 Furfural Market Size in Derivatives Application, By Region, 2017–2024 (Ton)
Table 18 Furfural Market Size in Derivatives Application, By Region, 2017–2024 (USD Thousand)
Table 19 Furfural Market Size in Furfuryl Alcohol Manufacturing Application, By Region, 2017–2024 (Ton)
Table 20 Furfural Market Size in Furfuryl Alcohol Manufacturing Application, By Region, 2017–2024 (USD Thousand)
Table 21 Furfural Market Size in Other Derivatives, By Region, 2017–2024 (Ton)
Table 22 Furfural Market Size in Other Derivatives, By Region, 2017–2024 (USD Thousand)
Table 23 Furfural Market Size in Solvent Application, By Region, 2017–2024 (Ton)
Table 24 Furfural Market Size in Solvent Application, By Region, 2017–2024 (USD Thousand)
Table 25 Furfural Market Size in Other Applications, By Region, 2017–2024 (Ton)
Table 26 Furfural Market Size in Other Applications, By Region, 2017–2024 (USD Thousand)
Table 27 Furfural Market Size, By Region, 2017–2024 (Ton)
Table 28 Furfural Market Size, By Region, 2017–2024 (USD Thousand)
Table 29 APAC: Furfural Market Size, By Country, 2017–2024 (Ton)
Table 30 APAC: Market Size, By Country, 2017–2024 (USD Thousand)
Table 31 APAC: Market Size, By RaW Material, 2017–2024 (Ton)
Table 32 APAC: Market Size, By RaW Material, 2017–2024 (USD Thousand)
Table 33 APAC: Market Size, By Application, 2017–2024 (Ton)
Table 34 APAC: Market Size, By Application, 2017–2024 (USD Thousand)
Table 35 APAC: Market Size, By Derivative, 2017–2024 (Ton)
Table 36 APAC: Market Size, By Derivative, 2017–2024 (USD Million)
Table 37 China: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 38 China: Market Size, By Application, 2017–2024 (USD Thousand)
Table 39 China: Market Size, By Derivative, 2017–2024 (Ton)
Table 40 China: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 41 Thailand: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 42 Thailand: Market Size, By Application, 2017–2024 (USD Thousand)
Table 43 Thailand: Market Size, By Derivative, 2017–2024 (Ton)
Table 44 Thailand: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 45 India: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 46 India: Market Size, By Application, 2017–2024 (USD Thousand)
Table 47 India: Market Size, By Derivative, 2017–2024 (Ton)
Table 48 India: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 49 Rest of APAC: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 50 Rest of APAC: Market Size, By Application, 2017–2024 (USD Thousand)
Table 51 Rest of APAC: Market Size, By Derivative, 2017–2024 (Ton)
Table 52 Rest of APAC: Market Size, By Derivative, 2017–2024 (USD Million)
Table 53 Europe: Furfural Market Size, By Country, 2017–2024 (Ton)
Table 54 Europe: Market Size, By Country, 2017–2024 (USD Thousand)
Table 55 Europe: Market Size, By RaW Material, 2017–2024 (Ton)
Table 56 Europe: Market Size, By RaW Material, 2017–2024 (USD Thousand)
Table 57 Europe: Market Size, By Application, 2017–2024 (Ton)
Table 58 Europe: Market Size, By Application, 2017–2024 (USD Thousand)
Table 59 Europe: Market Size, By Derivative, 2017–2024 (Ton)
Table 60 Europe: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 61 Belgium: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 62 Belgium: Market Size, By Application, 2017–2024 (USD Thousand)
Table 63 Belgium: Market Size, By Derivative, 2017–2024 (Ton)
Table 64 Belgium: and Its Derivatives Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 65 Netherlands: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 66 Netherlands: Market Size, By Application, 2017–2024 (USD Thousand)
Table 67 Netherlands: Market Size, By Derivative, 2017–2024 (Ton)
Table 68 Netherlands: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 69 Germany: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 70 Germany: Market Size, By Application, 2017–2024 (USD Thousand)
Table 71 Germany: Market Size, By Derivative, 2017–2024 (Ton)
Table 72 Germany: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 73 Rest of Europe: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 74 Rest of Europe: Market Size, By Application, 2017–2024 (USD Thousand)
Table 75 Rest of Europe: Market Size, By Derivative, 2017–2024 (Ton)
Table 76 Rest of Europe: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 77 Middle East & Africa: Furfural Market Size, By Country, 2017–2024 (Ton)
Table 78 Middle East & Africa: Market Size, By Country, 2017–2024 (USD Thousand)
Table 79 Middle East & Africa: Market Size, By RaW Material, 2017–2024 (Ton)
Table 80 Middle East & Africa: Market Size, By RaW Material, 2017–2024 (USD Thousand)
Table 81 Middle East & Africa: Market Size, By Application, 2017–2024 (Ton)
Table 82 Middle East & Africa: Market Size, By Application, 2017–2024 (USD Thousand)
Table 83 Middle East & Africa: Market Size, By Derivative, 2017–2024 (Ton)
Table 84 Middle East & Africa: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 85 South Africa: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 86 South Africa: Market Size, By Application, 2017–2024 (USD Thousand)
Table 87 South Africa: Market Size, By Derivatives, 2017–2024 (Ton)
Table 88 South Africa: Market Size, By Derivatives, 2017–2024 (USD Thousand)
Table 89 Algeria: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 90 Algeria: Market Size, By Application, 2017–2024 (USD Thousand)
Table 91 Algeria: Market Size, By Derivative, 2017–2024 (Ton)
Table 92 Algeria: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 93 Rest of Middle East & Africa: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 94 Rest of Middle East & Africa: Market Size, By Application, 2017–2024 (USD Thousand)
Table 95 Rest of Middle East & Africa: Market Size, By Derivative, 2017–2024 (Ton)
Table 96 Rest of Middle East & Africa: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 97 Americas: Furfural Market Size, By Country, 2017–2024 (Ton)
Table 98 Americas: Market Size, By Country, 2017–2024 (USD Thousand)
Table 99 Americas: Market Size, By RaW Material, 2017–2024 (Ton)
Table 100 Americas: Market Size, By RaW Material, 2017–2024 (USD Thousand)
Table 101 Americas: Market Size, By Application, 2017–2024 (Ton)
Table 102 Americas: Market Size, By Application, 2017–2024 (USD Thousand)
Table 103 Americas: Market Size, By Derivative, 2017–2024 (Ton)
Table 104 Americas: Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 105 US: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 106 US: Market Size, By Application, 2017–2024 (USD Thousand)
Table 107 US: Market Size, By Derivative, 2017–2024 (Ton)
Table 108 US: and Its Derivatives Market Size, By Derivative, 2017–2024 (USD Thousand)
Table 109 Rest of Americas: Furfural Market Size, By Application, 2017–2024 (Ton)
Table 110 Rest of America: Market Size, By Application, 2017–2024 (USD Thousand)
Table 111 Americas: Furfural Market Size, By Derivative, 2017–2024 (Ton)
Table 112 Americas: Market Size, By Derivative, 2017–2024 (USD Thousand)

List of Figures
Figure 1 Furfural Market: Research Design
Figure 2 Market Size Estimation: Top-Down Approach
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Data Triangulation: Furfural Market
Figure 5 Derivatives Application Accounted for the Largest Market Share in 2018
Figure 6 Corncob Was the Largest RaW Material Segment of the Market in 2018
Figure 7 APAC to Be the Fastest-Growing Market for Furfural
Figure 8 Increasing Demand From APAC to Drive the Furfural Market
Figure 9 China and Derivatives Segment Accounted for the Largest Shares in the APAC Furfural Market
Figure 10 China to Grow at the Highest Rate
Figure 11 Drivers, Restraints, Opportunities, and Challenges in the Furfural Market
Figure 12 Furfural Market: Porter’s Five Forces Analysis
Figure 13 Publication Trends - Last 4 Years
Figure 14 Trend Analysis and Graphical Representation
Figure 15 Top Assignees
Figure 16 Corncob Segment Dominated the Furfural Market, By RaW Material in 2018
Figure 17 Derivatives Segment Was the Dominating Application of Furfural in 2018
Figure 18 APAC: Furfural Market Snapshot
Figure 19 Europe: Furfural Market Snapshot
Figure 20 Americas: Furfural Market Snapshot
Figure 21 Central Romana Corporation: SWOT Analysis
Figure 22 Pennakem: SWOT Analysis
Figure 23 Illovo Sugar Africa: SWOT Analysis
Figure 24 Lenzing: Company Snapshot
Figure 25 Lenzing: SWOT Analysis
Figure 26 KRBL: Company Snapshot

Note: Product cover images may vary from those shown
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  • Aurus Specialty Chemicals
  • Beijing Lys Chemicals
  • Central Romana Corporation
  • Furnova Polymers
  • Hefei Tnj Chemical Industry
  • Hongye Holding Group Corporation
  • Illovo Sugar Africa
  • KRBL
  • Laxmi Furals Private Limited
  • Lenzing
  • NC Nature Chemicals
  • Pennakem
  • Shandong Crownchem Industries Limited
  • Shanghai Ruizheng Technology
  • Silvateam
  • Tanin
  • TCI Chemicals
  • Transfurans Chemicals
  • Xingtai Chunlei Furfuryl Alcohol
  • Zhucheng Taisheng Chemical
Note: Product cover images may vary from those shown
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