Global Furfural Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2022-2029. Furfural is a chemical feedstock made from agricultural by-products that are organic, renewable, and non-petroleum based. Furfural is produced mostly from agricultural waste, including maize cobs, rice husks, sugarcane bagasse, cotton husk, oat husk, almond husk, olive press cakes, and others. Chemical compound furfural is colorless or slightly yellowish and rapidly becomes black when exposed to air. Based on residues containing pentosan that are produced during the processing of various agricultural or forest products, furfural is produced. High-pressure steam is used to process furfural in a digester, and the compound is then recovered using steam distillation, water-furfural separation, and purification. The market growth is driven by key factors such as increasing demand from industrial chemicals manufacturing, increase in investment opportunities in chemical industry, and increasing demand for Furfuryl Alcohol.
India's chemical industry is expected to expand rapidly due to the rising need for chemicals and agrochemicals. The government estimates that the chemical sector would generate USD 304 billion by 2025, with potential provided by the demand growth of around 9% per year over the following five years. With around 168 investment potential and 29 projects under development, the chemical industry offers an investment opportunity worth USD 701,97 million. It is anticipated that India's foundry sector will expand by more than 13%, reaching 14-15 million metric tonnes by 2021 and 20 million metric tonnes by 2025. However, fluctuating raw material prices stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Furfural Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is dominating the overall market growth and is expected to be the fastest growing region due to massive furfural production, particularly in China, as well as expansion in a number of end-use industries, including agriculture, food and beverage, pharmaceuticals, and refineries in the economies of China, India, and Japan
Major market players included in this report are:
- Zibo Xinye Chemical Co. Ltd
- Central Romana Corporation
- Silvateam SpA
- Illovo Sugar Africa (Pty) Ltd
- Hongye Holding Group Corporation Limited
- TransFurans Chemicals bvba
- Xingtai Chunlei Furfuryl Alcohol Co. Ltd (hebeichem
- KRBL Limited
- Pennakem LLC
- LENZING AG
Recent Developments in the Market:
- In June 2020, Origin Materials, a material development company with operations in the US and Canada, is dedicated to the commercial production of the adaptable and environmentally friendly chemical 5-chloromethyl furfural (CMF). Origin's technology generates CMF with a high cradle-to-gate carbon-negative footprint on a commercial scale.
Global Furfural Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Application, Raw Material, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Raw Material:
- Corncobs
- Rice Hulls
- Cotton Hulls
- Sugarcane Bagasse
- Other Raw Materials
By Application:
- Furfuryl Alcohol
- Solvent
- Intermediate
- Other Applications
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Furfural Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Furfural Market, by Raw Material, 2019-2029 (USD Billion)
- 1.2.3. Furfural Market, by Application, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Furfural Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Furfural Market Dynamics
- 3.1. Furfural Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing Demand from Industrial Chemicals Manufacturing
- 3.1.1.2. Increasing Demand for Furfuryl Alcohol
- 3.1.2. Market Challenges
- 3.1.2.1. Fluctuating Raw Material Prices
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing demand for chemicals and agrochemicals
- 3.1.3.2. Rising concerns for renewable products
Chapter 4. Global Furfural Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Furfural Market, by Raw Material
- 6.1. Market Snapshot
- 6.2. Global Furfural Market by Raw Material, Performance - Potential Analysis
- 6.3. Global Furfural Market Estimates & Forecasts by Raw Material 2019-2029 (USD Billion)
- 6.4. Furfural Market, Sub Segment Analysis
- 6.4.1. Corncobs
- 6.4.2. Rice Hulls
- 6.4.3. Cotton Hulls
- 6.4.4. Sugarcane Bagasse
- 6.4.5. Other Raw Materials
Chapter 7. Global Furfural Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Furfural Market by Application, Performance - Potential Analysis
- 7.3. Global Furfural Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 7.4. Furfural Market, Sub Segment Analysis
- 7.4.1. Furfuryl Alcohol
- 7.4.2. Solvent
- 7.4.3. Intermediate
- 7.4.4. Other Applications
Chapter 8. Global Furfural Market, Regional Analysis
- 8.1. Furfural Market, Regional Market Snapshot
- 8.2. North America Furfural Market
- 8.2.1. U.S. Furfural Market
- 8.2.1.1. Raw Material breakdown estimates & forecasts, 2019-2029
- 8.2.1.2. Application breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Furfural Market
- 8.3. Europe Furfural Market Snapshot
- 8.3.1. U.K. Furfural Market
- 8.3.2. Germany Furfural Market
- 8.3.3. France Furfural Market
- 8.3.4. Spain Furfural Market
- 8.3.5. Italy Furfural Market
- 8.3.6. Rest of Europe Furfural Market
- 8.4. Asia-Pacific Furfural Market Snapshot
- 8.4.1. China Furfural Market
- 8.4.2. India Furfural Market
- 8.4.3. Japan Furfural Market
- 8.4.4. Australia Furfural Market
- 8.4.5. South Korea Furfural Market
- 8.4.6. Rest of Asia Pacific Furfural Market
- 8.5. Latin America Furfural Market Snapshot
- 8.5.1. Brazil Furfural Market
- 8.5.2. Mexico Furfural Market
- 8.5.3. Rest of Latin America Furfural Market
- 8.6. Rest of The World Furfural Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. Zibo Xinye Chemical Co. Ltd
- 9.2.1.1. Key Information
- 9.2.1.2. Overview
- 9.2.1.3. Financial (Subject to Data Availability)
- 9.2.1.4. Product Summary
- 9.2.1.5. Recent Developments
- 9.2.2. Central Romana Corporation
- 9.2.3. Silvateam SpA
- 9.2.4. Illovo Sugar Africa (Pty) Ltd
- 9.2.5. Hongye Holding Group Corporation Limited
- 9.2.6. TransFurans Chemicals bvba
- 9.2.7. Xingtai Chunlei Furfuryl Alcohol Co. Ltd (hebeichem
- 9.2.8. KRBL Limited
- 9.2.9. Pennakem LLC
- 9.2.10. LENZING AG
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption