Furfural Market by Raw Material, Process, Application, End-Use Industry

List of Tables

[198 Pages Report] The Furfural Market size was estimated at USD 746.48 million in 2023 and expected to reach USD 778.96 million in 2024, at a CAGR 4.41% to reach USD 1,010.31 million by 2030.

Global Furfural Market

KEY MARKET STATISTICS
Base Year [2023]	USD 746.48 million
Estimated Year [2024]	USD 778.96 million
Forecast Year [2030]	USD 1,010.31 million
CAGR (%)	4.41%

The furfural market encompasses the global production, distribution, and trade of furfural, an organic compound primarily derived from agricultural byproducts such as corncobs, oat hulls, rice husk, bagasse, and sawdust. The increasing investments made in the development of the agriculture sector and the need for fertilizers have increased the demand for furfural products. The surging demand for bio-based plastics and paints enhances the adoption of furfural products. The utilization of furfural as a food flavoring and fragrance in personal care products contributes to the demand for furfural products. However, the complexity of the manufacturing process of furfural products may limit the product demand. The toxic nature of furfural and its adverse effects on human health are also factors of concern for market adoption. The ongoing research to expand the application scope of furfural products and the development of new technologies for production is anticipated to generate significant growth potential for the market.

Regional Insights

In the Americas, the United States is a significant furfural market due to its application in producing furfural-alcohol resins used in plastics and as a solvent for the pharmaceutical industry. The Americas region shows an increase in demand for bio-based chemicals, which is expected to drive furfural market growth. In Europe, the focus on sustainable chemicals is very pronounced, with stringent environmental regulations driving the market for furfural. European countries are at the forefront of initiatives for circular economies and reducing carbon footprints within the chemical industry, which supports the growth of the furfural market. The Asia Pacific region has a strong manufacturing and consumer base for furfural products, driven by strong market demand in countries such as China, Japan, and India. The APAC region presents a competitive market with customer purchasing behavior inclined towards sustainable and environmentally friendly products.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Furfural Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Furfural Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Furfural Market, highlighting leading vendors and their innovative profiles. These include Associated British Foods PLC, BASF SE, Central Drug House (P) Ltd., Central Romana Corporation, DalinYebo Trading and Development (Pty) Ltd., GoodRich Sugar, Gravitas Chemical, LLC, Hefei TNJ Chemical Industry Co., Ltd., Illovo Sugar Africa (Pty) Ltd., International Furan Chemicals B.V., Jinan Future Chemical Co., Ltd, Junsei Chemical Co.,Ltd, Kanto Chemical Co., Inc., Kishida Chemical Co.,Ltd., KRBL Ltd., Kunshan Odowell Co., Ltd., Lenzing AG, Linzi Organic Chemical Inc. Ltd., Merck KGaA, Origin Materials, Inc., Otto Chemie Pvt. Ltd., Pennakem, LLC, Sappi Group, Silvateam S.p.a., Spectrum Chemical Mfg. Corp., TCI America, Thermo Fisher Scientific, Inc., TransFurans Chemicals bvba, Vigon International, LLC, and Vizag Chemicals International.

Market Segmentation & Coverage

This research report categorizes the Furfural Market to forecast the revenues and analyze trends in each of the following sub-markets:

Raw Material
- Corncobs
- Cotton Hulls
- Rice Hulls
- Sugarcane Bagasse
Process
- Chinese Batch Process
- Quaker Batch Process
- Rosenlew Continuous Process
Application
- Furfuryl Alcohol
- Intermediate
- Solvent
End-Use Industry
- Agriculture
- Food & Beverages
- Paint & Coatings
- Pharmaceuticals
- Refineries
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Furfural Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Furfural Market?

3. What are the technology trends and regulatory frameworks in the Furfural Market?

4. What is the market share of the leading vendors in the Furfural Market?

5. Which modes and strategic moves are suitable for entering the Furfural Market?

Product Code: MRR-E3708867623E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Furfural Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising focus on renewable and bio-based chemicals
  - 5.1.1.2. Increasing demand for furfural in pharmaceuticals and agriculture
  - 5.1.1.3. Expanding potential in flavor and fragrance industries
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuation in the raw materials and sourcing complexity
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing R&D efforts to explore new applications and formulations
  - 5.1.3.2. Investment in furfural production expansion and processing technology development
- 5.1.4. Challenges
  - 5.1.4.1. Issues associated with the toxicity of furfural
5.2. Market Segmentation Analysis
- 5.2.1. Raw Material: Rising utilization of sugarcane bagasse for production process
- 5.2.2. Process: Advancements in rosenlew continuous process
- 5.2.3. Application: Diverse applications of furfural as solvent
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Furfural Market, by Raw Material

6.1. Introduction
6.2. Corncobs
6.3. Cotton Hulls
6.4. Rice Hulls
6.5. Sugarcane Bagasse

7. Furfural Market, by Process

7.1. Introduction
7.2. Chinese Batch Process
7.3. Quaker Batch Process
7.4. Rosenlew Continuous Process

8. Furfural Market, by Application

8.1. Introduction
8.2. Furfuryl Alcohol
8.3. Intermediate
8.4. Solvent

9. Furfural Market, by End-Use Industry

9.1. Introduction
9.2. Agriculture
9.3. Food & Beverages
9.4. Paint & Coatings
9.5. Pharmaceuticals
9.6. Refineries

10. Americas Furfural Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Furfural Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Furfural Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. New Product Launch & Enhancement
  - 13.3.1.1. FurBio Project Develops New Furfural-derived Resins and Biobased Biocomposites Reinforced with Natural Fibres
- 13.3.2. Award, Recognition, & Expansion
  - 13.3.2.1. Origin Materials Announces Startup of Origin 1, World's First Commercial CMF Plant
  - 13.3.2.2. Planning New Plants For Manufacturing New Fluoro Advance Intermediates

14. Competitive Portfolio

14.1. Key Company Profiles
- 14.1.1. Associated British Foods PLC
- 14.1.2. BASF SE
- 14.1.3. Central Drug House (P) Ltd.
- 14.1.4. Central Romana Corporation
- 14.1.5. DalinYebo Trading and Development (Pty) Ltd.
- 14.1.6. GoodRich Sugar
- 14.1.7. Gravitas Chemical, LLC
- 14.1.8. Hefei TNJ Chemical Industry Co., Ltd.
- 14.1.9. Illovo Sugar Africa (Pty) Ltd.
- 14.1.10. International Furan Chemicals B.V.
- 14.1.11. Jinan Future Chemical Co., Ltd
- 14.1.12. Junsei Chemical Co.,Ltd
- 14.1.13. Kanto Chemical Co., Inc.
- 14.1.14. Kishida Chemical Co.,Ltd.
- 14.1.15. KRBL Ltd.
- 14.1.16. Kunshan Odowell Co., Ltd.
- 14.1.17. Lenzing AG
- 14.1.18. Linzi Organic Chemical Inc. Ltd.
- 14.1.19. Merck KGaA
- 14.1.20. Origin Materials, Inc.
- 14.1.21. Otto Chemie Pvt. Ltd.
- 14.1.22. Pennakem, LLC
- 14.1.23. Sappi Group
- 14.1.24. Silvateam S.p.a.
- 14.1.25. Spectrum Chemical Mfg. Corp.
- 14.1.26. TCI America
- 14.1.27. Thermo Fisher Scientific, Inc.
- 14.1.28. TransFurans Chemicals bvba
- 14.1.29. Vigon International, LLC
- 14.1.30. Vizag Chemicals International
14.2. Key Product Portfolio

15. Appendix

15.1. Discussion Guide
15.2. License & Pricing