Global Furfural Market By Raw Material (Sugarcane Bagasse, Corncob, Rice Husk and Others), By Application (Solvent, Furfural Alcohol and Others), By End-Use (Paint & Coatings, Pharmaceuticals and Others) and By Region – Global Forecast to 2030

“Global Furfural Market” is the title of an upcoming market report compiled by Market.US Apart from critical data and related information, the report will include key trends (both present and future), factors that are expected to influence market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions/countries. The following document will offer an in-depth analysis of revenues, key developments, and strategies by major industry players including vital insights and perspectives into various aspects of this industry. This report will consist of information, data, and inputs from both primary as well as secondary data sources, that have been verified and validated by experts in this market. Additionally, this document will cover imminent threats or challenges from existing contenders, as well as new industry entrants. The segmentation of the global furfural industry will be presented on the basis of raw materials, applications, end-use, as well as regions/countries.

Request Covid - 19 Impact

The Global Furfural Market was valued at $561.7 Мn in 2020, and is projected to register а САGR of 5.4% by the year 2030.

Report Coverage and Deliverables

PDF report and online dashboard will help you understand:

• Competitive benchmarking
• Market forecasts
• Company market shares
• Market opportunities
• Latest trends & dynamics

Request a Free Sample Copy

View Infographic

Overview:

The organic compound furfural is a colorless liquid, and the chemical formula is C4H3OCHO, aldehyde attached at 2-position of furan. It is obtained from various biomass materials such as corncobs, rice hulls, sugarcane, wheat bran, sawdust, cotton husk, oat husk, etc. Furfural is created from the hemicellulose component (pentosans) of vegetal matter by hydrolysis. The production process of furfural entails drying, grinding, sieving of feedstock, and further treatment of product with an acid at a high temperature.

Dynamics:

Furfural production yields a variety of essential industrial chemicals, including furfural alcohol, THF, maleic acid, MTHF, 1, 5pentanediol, etc. Most of these derivatives have a wide range of pharmaceutical applications. Certain medicines, for example, use (2S)-phenyl-3piperidone as an intermediary.

Furthermore, furfural derivatives are used in the manufacture of agricultural insecticides, nematicides, and fungicides. The demand for food is increasing at an exponential rate, due to this, agricultural activities have been scaled-up across the world. This factor has resulted in a surge in demand for furfural derivatives.

However, the COVID-19 pandemic has had a profoundly negative effect on the furfural market. It has jeopardized both production as well as global supply chains. Owing to which, the conducting of regular business activities has become extremely difficult.

Nonetheless, numerous advancements in furfural processing methodologies in terms of solvent processes, catalytic properties, reaction parameters, etc., to achieve higher yields, improved quality & quantity of production, and optimize extraction parameters such as time, temperature, etc., are expected to have a positive effect on the revenue growth of global furfural market over the forecast period.

Segmentation of the Global Furfural Market is as follows:

Global Furfural Market Revenue (US$ Mn) Market Share by Raw Material in 2020

Under the raw material segment, the corncob sub-segment accounted for the highest number of revenue shares (39.8%) in the global furfural market in 2020, and is expected to register a substantial CAGR of 6.3% over the forecast period.

Global Furfural Market Attractiveness Analysis by Application, 2014-2030The furfural alcohol sub-segment is anticipated to be the most profitable, with an attractiveness index of 8.8, and is expected to register a CAGR of 5.9% by 2030.

Global Furfural Market Revenue (US$ Mn) Market Share by End-Use in 2020With respect to the end-use segment, the pharmaceuticals sub-segment accounted for the second-lowest market share of 12.1% in 2020, whereas the petroleum refineries sub-segment made up for 40.2% of the global revenue of this market.

Regional Segmentation and Analysis:

Global Furfural Market Revenue (US$ Mn) Market Share by Region in 2020

The markets in the Asia Pacific region accounted for the highest number of revenues shares generated by the furfural industry in 2020, and are expected to register the highest CAGR of 5.8% over the forecast period as well.

Segmentation of the Global Furfural Market:

Based on Raw Material:

• Sugarcane Bagasse
• Corncob
• Rice Husk
• Wood Chip
• Other Raw Materials

Based on Application:

• Solvent
• Furfural Alcohol
• Chemical Ingredient
• Flavor Enhancer
• Other Applications

Based on End-Use:

• Petroleum Refineries
• Agricultural Formulations
• Paint & Coatings
• Pharmaceuticals
• Other End-Uses (Food, Adhesives, Lubricants)

Based on Region:

• North America
• Europe
• Asia Pacific
• South America
• MEA