Global Furfural Market, By Raw Material (Corncobs, Rice Hulls, Cotton Hulls, Sugar Cane Bagasse, Others), Application (Solvents, Flavour Enhancers, Fungicides, Gasoline Additives, Decolorizing Agents, Intermediates in Adhesives and Sealants), Catalyst (Solid Acid Type, Liquid Acid Type), End- User Industry (Chemical Industry, Agrochemical Industry, Pharmaceutical and Medical Industry, Oil and Gas Industry, Automotive and Transportation Industry, Manufacturing Industry, Furfurals and Polymer Industry, Food and beverages Industry, Fertilizer Industry, Others), Country (U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Luxemburg, Rest of Europe, Japan, China, South Korea, India, Australia And New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America UAE, Saudi Arabia, Egypt, Israel, South Africa, And Rest Of Middle East and Africa) Industry Trends and Forecast to 2028.
Data Bridge Market Research analyses that the furfural market will witness a CAGR of 5.76% for the forecast period of 2021-2028 and is likely to reach at USD 1.92 billion by 2028.
Furfural is a white liquid that is made up of chemical compounds. Furfural is extensively utilised as a solvent in the production of refractory materials, resin bonded grinding wheels, and butadiene extraction due to its outstanding physical qualities. Thermosetting, physical, and corrosive resistance are all common qualities. They are also utilised as a solvent for refining rosin and oil to improve catalytic cracker and diesel fuel properties. They have widely employed in a variety of applications including fuel additives, flavour enhancers and decolourising agents and others.
Increasing demand for furfural alcohol and surge in the importance of bio-based solvents are the major factors influencing the growth of furfural market. Furthermore, rise in the concerns regarding environment and growing demand from industrial chemical manufacturing are the drivers that will accelerate the furfural market growth rate.
Also, rise in research and development activities and emerging demand for furfural derivatives will provide beneficial opportunities for the furfural market growth.
However, fluctuation in the cost of raw material and inefficient advancement of technology are the major factors that will hamper the growth of the furfural market. Low yield of furfural from traditional technology will challenge the furfural market growth rate.
This furfural market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on furfural market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Furfural Market Scope and Market Size
The furfural market is segmented on the basis of raw material, application, catalyst and end-user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of raw material, the furfural market is segmented into corncobs, rice hulls, cotton hulls, sugar cane bagasse and others.
- On the basis of application, the furfural market is segmented into solvents, flavour enhancers, fungicides, gasoline additives, decolorizing agents, intermediates in adhesives and sealants.
- On the basis of catalyst, the furfural market is segmented into solid acid type and liquid acid type.
- On the basis of end-user industry, the furfural market is segmented into chemical industry, agrochemical industry, pharmaceutical and medical industry, oil and gas industry, automotive and transportation industry, manufacturing industry, furfurals and polymer industry, food and beverages industry, fertilizer industry and others.
Furfural Market Country Level Analysis
The furfural market is segmented on the basis of raw material, application, catalyst and end-user industry.
The countries covered in the furfural market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the furfural market and will continue to flourish its dominance during the forecast period due to the presence of leading manufacturers of furfural, rapid urbanization and growing demand of furfural, especially from chemical and foundry industry. Europe will continue to however project the highest CAGR for this period because of the surge in demand for furfural in various applications.
The country section of the furfural market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Furfural Market Share Analysis
The furfural market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to furfural market.
The major players covered in the furfural market report are TransFurans Chemicals bvba; Central Romana Corporation; hebeichem; ILLOVO SUGAR AFRICA; International Furan Chemicals B.V.; LENZING AG; Pennakem, LLC; Silvateam S.p.a.; KRBL; Nutrafur Sa; Shanxi Gaoping Chemical Co., Ltd.; Merck KGaA; Hefei TNJ Chemical Industry Co.,Ltd.; Galaxy Laboratories; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Furfural Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.