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Furfural Trends and Forecast
The future of the global furfural market looks promising with opportunities in the agriculture, paints & coating, pharmaceutical, food & beverage, and refinery markets. The global furfural market is expected to reach an estimated $985.9 million by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are increasing demand for furfuryl alcohol, expanding usage of furfural in various refractory products such ceramic composites, fiberglass, and bricks, and heightened utilization of pesticides and fungicides in agricultural practices across various nations.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Furfural by Segment
The study includes a forecast for the global furfural by raw material, application, end use industry, and region.
Furfural Market by Raw Material [Shipment Analysis by Value from 2018 to 2030]:
• Corn Cobs
• Sugarcane Bagasse
• Sunflower Hull
• Rice Husk
• Others
Furfural Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Furfuryl Alcohol
• Solvent
• Intermediate
• Others
Furfural Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Agriculture
• Paints & Coatings
• Pharmaceuticals
• Food & Beverage
• Refineries
• Others
Furfural Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Furfural Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies furfural companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the furfural companies profiled in this report include-
• Illovo Group
• Linzi Organic Chemical
• Trans Furans Chemicals bvba
• Central Romana Corporation
• DalinYebo
• Hebeichem
• KRBL
Furfural Market Insights
Lucintel forecasts that corn cobs will remain the highest growing segment over the forecast period because of its adaptability and it helps in playing as a feedstock in the manufacturing of diverse biofuels and chemical products, as well as, it is the most desirable raw material for furfural production.
Within this market, refineries will remain the highest growing segment over the forecast period because it is commonly employed as a solvent in the petroleum refining process, specialized adhesives, and lubricants, and through hydrogenation and it can also be converted into 2-methyl tetrahydrofuran and 2-methyl furan, both of which find application as gasoline additives.
APAC will remain the highest growing region over the forecast period due to significant furfural production, accompanied by expansion in various end-use sectors, such as agriculture, food and beverages, pharmaceuticals, and refineries within the economies of china, india, and japan.
Features of the Global Furfural Market
Market Size Estimates: Furfural market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Furfural market size by various segments, such as by application, end use industry, and region in terms of value ($B).
Regional Analysis: Furfural market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different applications, end use industries, and regions for the furfural market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the furfural market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the furfural market size?
Answer: The global furfural market is expected to reach an estimated $985.9 million by 2030.
Q.2 What is the growth forecast for furfural market?
Answer: The global furfural market is expected to grow with a CAGR of 6.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the furfural market?
Answer: The major drivers for this market are increasing demand for furfuryl alcohol, expanding usage of furfural in various refractory products such ceramic composites, fiberglass, and bricks, and heightened utilization of pesticides and fungicides in agricultural practices across various nations.
Q4. What are the major segments for furfural market?
Answer: The future of the furfural market looks promising with opportunities in the agriculture, paints & coating, pharmaceutical, food & beverage, and refinery markets.
Q5. Who are the key furfural market companies?
Answer: Some of the key furfural companies are as follows:
• Illovo Group
• Linzi Organic Chemical
• Trans Furans Chemicals bvba
• Central Romana Corporation
• DalinYebo
• Hebeichem
• KRBL
Q6. Which furfural market segment will be the largest in future?
Answer: Lucintel forecasts that corn cobs will remain the highest growing segment over the forecast period because of its adaptability and it helps in playing as a feedstock in the manufacturing of diverse biofuels and chemical products, as well as, it is the most desirable raw material for furfural production.
Q7. In furfural market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the highest growing region over the forecast period due to significant furfural production, accompanied by expansion in various end-use sectors, such as agriculture, food and beverages, pharmaceuticals, and refineries within the economies of china, india, and japan.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the furfural market by raw material (corn cobs, sugarcane bagasse, sunflower hull, rice husk, and others), application (furfuryl alcohol, solvent, intermediate, and others), end use industry (agriculture, paints & coatings, pharmaceuticals, food & beverage, refineries, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Furfural Market, Furfural Market Size, Furfural Market Growth, Furfural Market Analysis, Furfural Market Report, Furfural Market Share, Furfural Market Trends, Furfural Market Forecast, Furfural Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Furfural Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Furfural Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Furfural Market by Raw Material
3.3.1: Corn Cobs
3.3.2: Sugarcane Bagasse
3.3.3: Sunflower Hull
3.3.4: Rice Husk
3.3.5: Others
3.4: Global Furfural Market by Application
3.4.1: Furfuryl Alcohol
3.4.2: Solvent
3.4.3: Intermediate
3.4.4: Others
3.5: Global Furfural Market by End Use Industry
3.5.1: Agriculture
3.5.2: Paints & Coatings
3.5.3: Pharmaceuticals
3.5.4: Food & Beverage
3.5.5: Refineries
3.5.6: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Furfural Market by Region
4.2: North American Furfural Market
4.2.2: North American Furfural Market by End Use Industry: Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverages, Refineries, and Others
4.3: European Furfural Market
4.3.1: European Furfural Market by Raw Material: Corn Cobs, Sugarcane Bagasse, Sunflower Hull, Rice Husk, and Others
4.3.2: European Furfural Market by End Use Industry: Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverages, Refineries, and Others
4.4: APAC Furfural Market
4.4.1: APAC Furfural Market by Raw Material: Corn Cobs, Sugarcane Bagasse, Sunflower Hull, Rice Husk, and Others
4.4.2: APAC Furfural Market by End Use Industry: Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverages, Refineries, and Others
4.5: ROW Furfural Market
4.5.1: ROW Furfural Market by Raw Material: Corn Cobs, Sugarcane Bagasse, Sunflower Hull, Rice Husk, and Others
4.5.2: ROW Furfural Market by End Use Industry: Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverage, Refineries, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Furfural Market by Raw Material
6.1.2: Growth Opportunities for the Global Furfural Market by Application
6.1.3: Growth Opportunities for the Global Furfural Market by End Use Industry
6.1.4: Growth Opportunities for the Global Furfural Market by Region
6.2: Emerging Trends in the Global Furfural Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Furfural Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Furfural Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Illovo Group
7.2: Linzi Organic Chemical
7.3: Trans Furans Chemicals bvba
7.4: Central Romana Corporation
7.5: DalinYebo
7.6: Hebeichem
7.7: KRBL
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
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In-depth interviews of the major players in this market
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Detailed secondary research from competitors’ financial statements and published data
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Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
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A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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