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The global furfural market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Furfural (C4H3OCHO) is a naturally occurring compound formed by dehydrating carbon sugars and obtained from the hemicellulose fraction of lignocellulosic biomass. It is a versatile chemical, which is widely utilized as a raw material to produce phenol-furfural-resins. It can also be converted into furfuryl alcohol, tetrahydrofurfuryl alcohol (THFA), tetrahydrofuran, furan, and diols. Amongst these, furfuryl alcohol finds extensive applications as a flavoring agent and filler in the manufacturing of paints, textiles, and plastics across the globe, which is positively influencing their overall sales.
The wide applications of furfural in various end use industries represent one of the primary factors bolstering the market growth. For instance, it is used to manufacture plastics, adhesives, nematicides, inks, antacids, fungicides, fertilizers, and flavoring compounds worldwide. In addition to this, the escalating demand for packaged food products on account of hectic schedules, increasing working population, inflating income levels and convenience offered is fueling the adoption of furfural in the food and beverage (F&B) industry. Moreover, the increasing shortage of food due to rapid urbanization, growing global population, changing climatic conditions, and declining arable land area is catalyzing the demand for furfural in the manufacturing of pesticides. Furthermore, the growing focus on personal health and hygiene is driving the demand for furfural for making perfumes and fragrances. Its derivatives are also finding extensive applications in manufacturing fiberglass, and aircraft and automobile components. Apart from this, due to the growing environmental concerns and the need for minimizing dependence on petrochemicals, furfurals are gaining traction as a potential source to produce biofuels. Moreover, emerging novel applications of furfural are projected to strengthen the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global furfural market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on process, raw material, application and end user.
Breakup by Process:
Breakup by Raw Material:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Behran Oil Company, Central Romana Corporation Ltd., Hongye Holding Group Corporation Limited, Illovo Sugar Ltd. (Associated British Foods plc), KRBL Limited, Lenzing Aktiengesellschaft, Linzi Organic Chemical Inc. Ltd., Pennakem LLC, Shandong Crownchem Industries Co. Ltd, Silvateam S.p.a., Tanin d.d., TransFurans Chemicals bvba and Xian Welldon Trading Co. Ltd.
|Base Year of the Analysis||2020|
|Segment Coverage||Process, Raw Material, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Behran Oil Company, Central Romana Corporation Ltd., Hongye Holding Group Corporation Limited, Illovo Sugar Ltd. (Associated British Foods plc), KRBL Limited, Lenzing Aktiengesellschaft, Linzi Organic Chemical Inc. Ltd., Pennakem LLC, Shandong Crownchem Industries Co. Ltd, Silvateam S.p.a., Tanin d.d., TransFurans Chemicals bvba and Xian Welldon Trading Co. Ltd.|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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