Furfural is an organic intermediate obtain from renewable resources, such as rice husk, wood residues of sugarcane bagasse (SCB), and corncob. It is used for the production of furan-based biofuels and biochemical. It has numerous applications for instance derivatives and solvents as it is a green compound and has no adverse effect on the surroundings throughout its consumption and production.
The global Furfural market is anticipated to increase at a 5.6% CAGR to reach value US$ 817.9 Mn in 2031
The report aims to estimate the size of the market for furfural and the future growth potential of the market for furfural across various segments, such as raw material, application industry, and the area.
The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated. The Asia Pacific is estimated to attain a major revenue share for the global furfural market in the given timeframe. China has arisen as a significant contributor to the consumption of furfural in the Asia-Pacific region and is anticipated to uphold its supremacy in the given timeframe. Raw materials, such as rice husk, almond husk, bagasse, corn cobs, cotton husk, and other agro-based products & wastes, are extensively available in emerging economies such as India, Indonesia, China, and Malaysia with a minimum production cost, which is anticipated to fuel the target market growth in this region. The base year considered for the report is 2019, whereas the forecast period considered for the report is 2020–2028.
Corncob is expected to attain the largest market revenue share in the target market, by raw material, in the given timeframe. It found on the central part of the maize on which the seed is grownup. Corncob and sugarcane bagasse (SCB) are the two main raw materials used to produce furfural. Corncob is generally the foreseen product because it has the uppermost hemicellulose content (30.0%-35.0%) amongst all raw materials for furfural. It is a cost-effective raw material as it offers a superior yield when compared to other raw materials.
Furfural Market Scope
|Revenue forecast in 2031
|US$ 817.9 Mn
|CAGR of 5.6% during 2021-2031
|Raw Material, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Central Romana Corporation,TransFurans Chemicals bvba,Pennakem, LLC ,Silvateam S.p.a.,Illovo Sugar Africa (Pty) Ltd.,Xingtai Chunlei Furfuryl Alcohol Co., Ltd.,Lenzing AG,Behran Oil Co.,Henan Huilong Chemical Co., Ltd.,Hebei Furan International Co, Ltd.,Hongye Holding Group Corporation Limited,Shanxi Province Gaoping Chemical Industry Co., Ltd.,Others
Key Segments of the Global Furfural Market
Raw Material Overview (USD Million)
- Sugarcane Bagasse
- Rice Husk
- Others (wood chips, oat hulls, and cotton husks)
Application Overview (USD Million)
- Others (pharmaceutical, agriculture and food & beverage)
Regional Overview (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Furfural market
- Transfuran Chemicals
- Central Romana Corporation
- Illovo Sugar
- Hongye Holding Group Corporation
- Shandong Crownchem Industries
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Furfural Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Furfural Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the chemical industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on raw material and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Furfural Market. The report will benefit every stakeholder involved in the Furfural Market.
- Managers within the chemical industry looking to publish recent and forecasted statistics about Furfural Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Furfural Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.