Furfural Market 2021|Market Share by Business Opportunities, Market Dynamics, Growth Size and Estimate to 2030

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The global Furfural market size is expected to be worth around US$ 1301.9 million by 2030, according to a new report by Vision Research Reports.

The global Furfural market size was valued at US$ 504.1 Mn in 2020 and is anticipated to grow at a CAGR of 10.5% during forecast period 2021 to 2030.

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Furfural Market (By Process: Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process, Others; By Raw Material: Corn cob, Sugarcane bagasse, Sunflower hull, Rice husk, Others; By Application: Furfuryl alcohol, Solvent, Intermediate, Others; By End-use: Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverage, Refineries, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Growth Factors

Growth can be attributed to the developments of novel derivatives, such as THF by key manufacturers, resulting in the expansion of the application segment. In addition, favorable regulations concerning the inclusion of bio-based products in several end-use industries are penetrating the demand for organic chemicals across several industries, thus triggering the market growth.

Technological advancements in the manufacturing process of furfural are estimated to considerably surge the production yield from key raw materials, thus achieving economies of scale. Key manufacturers in the marketare using novel cost-effective processes to increase product yield along with more efficient utilization of key resources. 

Report Highlights

 Chinese batch was the dominant process segment and held a market share of over 90%. This process is majorly used in China, which is the largest manufacturer across the globe. Quaker batch process is one of the oldest manufacturing processes, while others are modified versions of the former processes. The major difference between the Quaker batch and Rosenlew continuous processes is that the former uses sulfuric acid as a catalyst, while the latter does not require a separate catalyst.

Corncobs raw material segment led the global market with a share of over 83% in 2020. It is estimated to retain its dominant position throughout the forecast years due to the extensive use of the raw material in the production of furfural. The yield from corncob is the maximum, thus, marking corncob the most desirable raw material for production. In addition, corncob, when used as a biomass feedstock, delivers promising opportunities for renewable energy creation.

In terms of revenue, refineries dominated the market with a share of 60.6% in 2020. This high share is attributable to its high consumption as a solvent in petroleum refining, specialist adhesives, and lubricants.

Furfural is extensively applied as insecticide, nematicide, and fungicide in the agrochemical industry. It is an active ingredient in various nematicides such as crop protectors or crop guards. The product is also used as a weed killer in horticulture. It is a contact nematicide, mechanically incorporated or moved into the soil during irrigation, and used in reasonably low concentrations. As an agrochemical, it is comparatively harmless and easy to apply.

Furfuryl alcohol emerged as the leading application segment in 2020 accounting for a share of over 95%, as it is predominantly used as a binder in the foundry industry. Furfuryl alcohol is primarily used for the synthesis of furan resin, which is a substantial chemical feedstock used in the production of adhesives, casting resins, thermoset polymer matrix composites, coatings, and cement. Furfuryl alcohol, which is considered as an organic chemical, is also used as a solvent in the petroleum & refining industry.

The Asia Pacific emerged as the dominant region with a market share of over 84% in 2020. This is attributable to the high production of furfural in the region, especially in China, and growth in several end-use industries including agriculture, food & beverage, pharmaceutical, and refinery. Asia Pacific market is also projected to witness the fastest CAGR from 2020 to 2030 on account of the rising product demand from the chemical and foundry industries.

Key Players

  • Illovo Sugar Africa (Pty.) Ltd.
  • Central Romana Corporation
  • TransFurans Chemicals bvba
  • Pennakem, LLC
  • Hebeichem
  • Silvateam S.p.a
  • Lenzing Ag
  • Linzi Organic Chemical Inc. Ltd.
Report Coverage Details
Market Size US$ 1301.9 million by 2030
Growth Rate CAGR of 10.5% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Process, Raw Material, Application, End Use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Illovo Sugar Africa (Pty.) Ltd.; Central Romana Corp.; TransFurans Chemicals bvba; Pennakem, LLC; Hebeichem; Silvateam S.p.a; Lenzing Ag; and Linzi Organic Chemical Inc. Ltd.

Market Segmentation

  • Process
    • Quaker Batch Process
    • Chinese Batch Process
    • Rosenlew Continuous Process
    • Others
  • Raw Material
    • Corn cob
    • Sugarcane bagasse
    • Sunflower hull
    • Rice husk
    • Others
  • Application
    • Furfuryl alcohol
    • Solvent
    • Intermediate
    • Others
  • End-use
    • Agriculture
    • Paints & Coatings
    • Pharmaceuticals
    • Food & Beverage
    • Refineries
    • Others
  • Regional
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
    • Central & South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Turkey

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Furfural Market, By Process

7.1.  Furfural Market, by Process, 2020-2030

7.1.1.    Quaker Batch Process

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Chinese Batch Process

7.1.2.1.        Market Revenue and Forecast (2016-2030)

7.1.3.    Rosenlew Continuous Process

7.1.3.1.        Market Revenue and Forecast (2016-2030)

7.1.4.    Others

7.1.4.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Furfural Market, By Raw Material

8.1.  Furfural Market, by Raw Material, 2020-2030

8.1.1.    Corn cob

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    Sugarcane bagasse

8.1.2.1.        Market Revenue and Forecast (2016-2030)

8.1.3.    Sunflower hull

8.1.3.1.        Market Revenue and Forecast (2016-2030)

8.1.4.    Rice husk

8.1.4.1.        Market Revenue and Forecast (2016-2030)

8.1.5.    Others

8.1.5.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Furfural Market, By Application

9.1.  Furfural Market, by Application, 2020-2030

9.1.1.    Furfuryl alcohol

9.1.1.1.        Market Revenue and Forecast (2016-2030)

9.1.2.    Solvent

9.1.2.1.        Market Revenue and Forecast (2016-2030)

9.1.3.    Intermediate

9.1.3.1.        Market Revenue and Forecast (2016-2030)

9.1.4.    Others

9.1.4.1.        Market Revenue and Forecast (2016-2030)

Chapter 10.      Global Furfural Market, By End-use

10.1.        Furfural Market, by End-use, 2020-2030

10.1.1.  Agriculture

10.1.1.1.      Market Revenue and Forecast (2016-2030)

10.1.2.  Paints & Coatings

10.1.2.1.      Market Revenue and Forecast (2016-2030)

10.1.3.  Pharmaceuticals

10.1.3.1.      Market Revenue and Forecast (2016-2030)

10.1.4.  Food & Beverage

10.1.4.1.      Market Revenue and Forecast (2016-2030)

10.1.5.  Refineries

10.1.5.1.      Market Revenue and Forecast (2016-2030)

10.1.6.  Others

10.1.6.1.      Market Revenue and Forecast (2016-2030)

Chapter 11.      Global Furfural Market, Regional Estimates and Trend Forecast

11.1.        North America

11.1.1.  Market Revenue and Forecast, by Process (2016-2030)

11.1.2.  Market Revenue and Forecast, by Raw Material (2016-2030)

11.1.3.  Market Revenue and Forecast, by Application (2016-2030)

11.1.4.  Market Revenue and Forecast, by End-use (2016-2030)

11.1.5.  U.S.

11.1.5.1.      Market Revenue and Forecast, by Process (2016-2030)

11.1.5.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.1.5.3.      Market Revenue and Forecast, by Application (2016-2030)

11.1.5.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.1.6.  Rest of North America

11.1.6.1.      Market Revenue and Forecast, by Process (2016-2030)

11.1.6.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.1.6.3.      Market Revenue and Forecast, by Application (2016-2030)

11.1.6.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.2.        Europe

11.2.1.  Market Revenue and Forecast, by Process (2016-2030)

11.2.2.  Market Revenue and Forecast, by Raw Material (2016-2030)

11.2.3.  Market Revenue and Forecast, by Application (2016-2030)

11.2.4.  Market Revenue and Forecast, by End-use (2016-2030)

11.2.5.  UK

11.2.5.1.      Market Revenue and Forecast, by Process (2016-2030)

11.2.5.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.2.5.3.      Market Revenue and Forecast, by Application (2016-2030)

11.2.5.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.2.6.  Germany

11.2.6.1.      Market Revenue and Forecast, by Process (2016-2030)

11.2.6.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.2.6.3.      Market Revenue and Forecast, by Application (2016-2030)

11.2.6.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.2.7.  France

11.2.7.1.      Market Revenue and Forecast, by Process (2016-2030)

11.2.7.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.2.7.3.      Market Revenue and Forecast, by Application (2016-2030)

11.2.7.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.2.8.  Rest of Europe

11.2.8.1.      Market Revenue and Forecast, by Process (2016-2030)

11.2.8.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.2.8.3.      Market Revenue and Forecast, by Application (2016-2030)

11.2.8.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.3.        APAC

11.3.1.  Market Revenue and Forecast, by Process (2016-2030)

11.3.2.  Market Revenue and Forecast, by Raw Material (2016-2030)

11.3.3.  Market Revenue and Forecast, by Application (2016-2030)

11.3.4.  Market Revenue and Forecast, by End-use (2016-2030)

11.3.5.  India

11.3.5.1.      Market Revenue and Forecast, by Process (2016-2030)

11.3.5.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.3.5.3.      Market Revenue and Forecast, by Application (2016-2030)

11.3.5.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.3.6.  China

11.3.6.1.      Market Revenue and Forecast, by Process (2016-2030)

11.3.6.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.3.6.3.      Market Revenue and Forecast, by Application (2016-2030)

11.3.6.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.3.7.  Japan

11.3.7.1.      Market Revenue and Forecast, by Process (2016-2030)

11.3.7.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.3.7.3.      Market Revenue and Forecast, by Application (2016-2030)

11.3.7.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.3.8.  Rest of APAC

11.3.8.1.      Market Revenue and Forecast, by Process (2016-2030)

11.3.8.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.3.8.3.      Market Revenue and Forecast, by Application (2016-2030)

11.3.8.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.4.        MEA

11.4.1.  Market Revenue and Forecast, by Process (2016-2030)

11.4.2.  Market Revenue and Forecast, by Raw Material (2016-2030)

11.4.3.  Market Revenue and Forecast, by Application (2016-2030)

11.4.4.  Market Revenue and Forecast, by End-use (2016-2030)

11.4.5.  GCC

11.4.5.1.      Market Revenue and Forecast, by Process (2016-2030)

11.4.5.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.4.5.3.      Market Revenue and Forecast, by Application (2016-2030)

11.4.5.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.4.6.  North Africa

11.4.6.1.      Market Revenue and Forecast, by Process (2016-2030)

11.4.6.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.4.6.3.      Market Revenue and Forecast, by Application (2016-2030)

11.4.6.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.4.7.  South Africa

11.4.7.1.      Market Revenue and Forecast, by Process (2016-2030)

11.4.7.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.4.7.3.      Market Revenue and Forecast, by Application (2016-2030)

11.4.7.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.4.8.  Rest of MEA

11.4.8.1.      Market Revenue and Forecast, by Process (2016-2030)

11.4.8.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.4.8.3.      Market Revenue and Forecast, by Application (2016-2030)

11.4.8.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.5.        Latin America

11.5.1.  Market Revenue and Forecast, by Process (2016-2030)

11.5.2.  Market Revenue and Forecast, by Raw Material (2016-2030)

11.5.3.  Market Revenue and Forecast, by Application (2016-2030)

11.5.4.  Market Revenue and Forecast, by End-use (2016-2030)

11.5.5.  Brazil

11.5.5.1.      Market Revenue and Forecast, by Process (2016-2030)

11.5.5.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.5.5.3.      Market Revenue and Forecast, by Application (2016-2030)

11.5.5.4.      Market Revenue and Forecast, by End-use (2016-2030)

11.5.6.  Rest of LATAM

11.5.6.1.      Market Revenue and Forecast, by Process (2016-2030)

11.5.6.2.      Market Revenue and Forecast, by Raw Material (2016-2030)

11.5.6.3.      Market Revenue and Forecast, by Application (2016-2030)

11.5.6.4.      Market Revenue and Forecast, by End-use (2016-2030)

Chapter 12.  Company Profiles

12.1.              Illovo Sugar Africa (Pty.) Ltd.

12.1.1.  Company Overview

12.1.2.  Product Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.              Central Romana Corporation

12.2.1.  Company Overview

12.2.2.  Product Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.              TransFurans Chemicals bvba

12.3.1.  Company Overview

12.3.2.  Product Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.              Pennakem, LLC

12.4.1.  Company Overview

12.4.2.  Product Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.              Hebeichem

12.5.1.  Company Overview

12.5.2.  Product Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.              Silvateam S.p.a

12.6.1.  Company Overview

12.6.2.  Product Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.              Lenzing Ag

12.7.1.  Company Overview

12.7.2.  Product Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.              Linzi Organic Chemical Inc. Ltd.

12.8.1.  Company Overview

12.8.2.  Product Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

Chapter 13.  Research Methodology

13.1.              Primary Research

13.2.              Secondary Research

13.3.              Assumptions

Chapter 14.  Appendix

14.1.              About Us

Glossary of Terms

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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