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Furfural Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

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.

Furfural Market Trends:

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.

Key Market Segmentation:

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:

  • Quaker Batch Process
  • Chinese Batch Process
  • Rosenlew Continuous Process
  • Others
     

Breakup by Raw Material:

  • Corn Cobs
  • Rice Husk
  • Sugarcane Bagasse
  • Others
     

Breakup by Application:

  • Furfuryl Alcohol
  • Solvent
  • Others
     

Breakup by End User:

  • Agriculture
  • Petroleum Refineries
  • Paints and Coatings
  • Pharmaceuticals
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

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.

Report Coverages:

Report Features Details
Base Year of the Analysis 2020
    Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Million
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.
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Key Questions Answered in This Report:

  • How has the global furfural market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global furfural market?
  • What are the key regional markets?
  • What is the breakup of the market based on the process?
  • What is the breakup of the market based on the raw material?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global furfural market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Furfural Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Process
    6.1    Quaker Batch Process
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Chinese Batch Process
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Rosenlew Continuous Process
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Raw Material
    7.1    Corn Cobs
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Rice Husk
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Sugarcane Bagasse
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Application
    8.1    Furfuryl Alcohol
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Solvent
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by End User
    9.1    Agriculture
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Petroleum Refineries
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Paints and Coatings
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Pharmaceuticals
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Behran Oil Company
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 SWOT Analysis
        15.3.2    Central Romana Corporation Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 SWOT Analysis
        15.3.3    Hongye Holding Group Corporation Limited
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 SWOT Analysis
        15.3.4    Illovo Sugar Ltd. (Associated British Foods plc)
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 SWOT Analysis
        15.3.5    KRBL Limited
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 SWOT Analysis
        15.3.6    Lenzing Aktiengesellschaft
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 SWOT Analysis
        15.3.7    Linzi Organic Chemical Inc. Ltd.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 SWOT Analysis
        15.3.8    Pennakem LLC
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 SWOT Analysis
        15.3.9    Shandong Crownchem Industries Co. Ltd
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 SWOT Analysis
        15.3.10    Silvateam S.p.a.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 SWOT Analysis
        15.3.11    Tanin d.d.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 SWOT Analysis
        15.3.12    TransFurans Chemicals bvba
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 SWOT Analysis
        15.3.13    Xian Welldon Trading Co. Ltd
           15.3.13.1 Company Overview
           15.3.13.2 Product Portfolio
           15.3.13.3 SWOT Analysis

List of Figures

Figure 1: Global: Furfural Market: Major Drivers and Challenges
Figure 2: Global: Furfural Market: Sales Value (in Million US$), 2015-2020
Figure 3: Global: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: Global: Furfural Market: Breakup by Process (in %), 2020
Figure 5: Global: Furfural Market: Breakup by Raw Material (in %), 2020
Figure 6: Global: Furfural Market: Breakup by Application (in %), 2020
Figure 7: Global: Furfural Market: Breakup by End User (in %), 2020
Figure 8: Global: Furfural Market: Breakup by Region (in %), 2020
Figure 9: Global: Furfural (Quaker Batch Process) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Furfural (Quaker Batch Process) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Furfural (Chinese Batch Process) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Furfural (Chinese Batch Process) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Furfural (Rosenlew Continuous Process) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Furfural (Rosenlew Continuous Process) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Furfural (Other Processes) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Furfural (Other Processes) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Furfural (Corn Cobs) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Furfural (Corn Cobs) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Furfural (Rice Husk) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Furfural (Rice Husk) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Furfural (Sugarcane Bagasse) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Furfural (Sugarcane Bagasse) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Furfural (Other Raw Materials) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Furfural (Other Raw Materials) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Furfural (Furfuryl Alcohol) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Furfural (Furfuryl Alcohol) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Furfural (Solvent) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Furfural (Solvent) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Furfural (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Furfural (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Furfural (Agriculture) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Furfural (Agriculture) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Furfural (Petroleum Refineries) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Furfural (Petroleum Refineries) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Global: Furfural (Paints and Coatings) Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Global: Furfural (Paints and Coatings) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Global: Furfural (Pharmaceuticals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Global: Furfural (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Global: Furfural (Other End Users) Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Global: Furfural (Other End Users) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: North America: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: North America: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: United States: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: United States: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Canada: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Canada: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Asia-Pacific: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Asia-Pacific: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: China: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: China: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Japan: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Japan: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: India: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: India: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: South Korea: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: South Korea: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Australia: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Australia: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Indonesia: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Indonesia: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Others: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Others: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Europe: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Europe: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Germany: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Germany: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: France: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: France: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: United Kingdom: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: United Kingdom: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Italy: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Italy: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Spain: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Spain: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Russia: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Russia: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Others: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Others: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Latin America: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Latin America: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Brazil: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Brazil: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Mexico: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Mexico: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Others: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 86: Others: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 87: Middle East and Africa: Furfural Market: Sales Value (in Million US$), 2015 & 2020
Figure 88: Middle East and Africa: Furfural Market: Breakup by Country (in %), 2020
Figure 89: Middle East and Africa: Furfural Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 90: Global: Furfural Industry: SWOT Analysis
Figure 91: Global: Furfural Industry: Value Chain Analysis
Figure 92: Global: Furfural Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Furfural Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Furfural Market Forecast: Breakup by Process (in Million US$), 2021-2026
Table 3: Global: Furfural Market Forecast: Breakup by Raw Material (in Million US$), 2021-2026
Table 4: Global: Furfural Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: Furfural Market Forecast: Breakup by End User (in Million US$), 2021-2026
Table 6: Global: Furfural Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Furfural Market: Competitive Structure
Table 8: Global: Furfural Market: Key Players

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