Furfural Market for Solvents, Pharmaceuticals, Furfuryl Alcohol and Other Applications: Forecast, 2016 – 2022

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According to the report, global furfural market was valued at USD 641.8 million in 2016 and is expected to reach USD 1,200.4 million in 2022, growing at a CAGR of 11.0% between 2017 and 2022.Furfural is an organic solvent obtained from the renewable feedstock including sawdust, oleoresins, wheat bran, and sugarcane bagasse. It is a colorless liquid with soft almond odor and high solubility in alkenes. It is extensively used in refining lubricating oils in industries. The stringent regulations pertaining to sustainability are a major driver of furfural market across the globe.Surging demand from the pharmaceutical industry is one of the prime reasons for the growth of the global furfural market. Increasing consumption of fungicides and pesticides for agriculture in countries of Asia Pacific is likely to trigger the demand for furfurals over the years to come.

 

According to the report, global furfural market was valued at USD 641.8 million in 2016 and is expected to reach USD 1,200.4 million in 2022, growing at a CAGR of 11.0% between 2017 and 2022.

Furfural is a substance derived from the combination of different agricultural feedstock such as cotton seeds, corn cobs, oats, rice and wood products. It is extensively used as a solvent for plastic production across the globe. It contains pentosans and easily dissolves in aromatics & unsaturated olefins. Moreover, the majority of the production of furfural is undertaken in China, South Africa, and the Dominican Republic. Furfural has numerous applications in plastics, biomass, pharmaceuticals, biofuels, biochemicals, and agrochemical industries.

The global furfural market is primarily driven by increasing demand for furfural in pharmaceutical industry across the globe. Secondly, the rising demand for agrochemicals and aromatic chemicals is expected to further augment the growth of furfural market in the near future. Moreover, mounting demand for furfural in flavors and fragrances industry is projected to propel the market size of furfural over the next few years. However, the high cost of productivity is viewed as a major restraint for the furfural market. Nonetheless, ongoing development and research activities coupled with surging demand for agrochemicals especially in Asia Pacific region is expected to present new opportunities to the furfural market in the next few years.

Global-Furfural-Market

Based on the major applications, the global furfural market is bifurcated into solvents, pharmaceuticals, furfuryl alcohol and other applications. Among these applications, furfuryl alcohol accounted for the largest share of the furfural market in 2016.Growing demand for different flavors and fragrances in food and beverages industry is anticipated to propel the growth of furfural market across the globe. Moreover, solvents and pharmaceuticals are also important applications that are expected to boost the demand for furfurals in the near future. Increasing adoption of herbicides and fungicides in China, India and Thailand is predicted to spur the existing demand for furfurals within the forecast period.

Based on region, Asia Pacific was the dominant market for furfurals in 2016 on account of easy availability of raw feedstock, such as agro-wastes in countries such as India, Malaysia, Indonesia and China.This is anticipated to grow the furfural production in the region. China was the major furfural producer in the region in 2016.Asia Pacific was followed by Europe and North America in 2016 in terms of market volume. North America is expected to witness the sluggish growth of furfural market. Furthermore, the Middle East & Africa and Latin America are expected to witness decent and moderate growth respectively in the near future.

Some of the key manufacturers of global furfural market included in the study are SilvateamS.p.A., Nutrafur S.A., Illovo Sugar Ltd., Central Romana Corp., ArcoyBiorefinery Pvt. Ltd., International Furan Chemicals, Lenzing AG, Tieling North Furfural (Group) Co., Ltd., Penn A Kem LLC and KRBL Ltd among others.

  • Chapter 1. Preface
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  • Chapter 2. Executive Summary
    • 2.1. Global furfural market, 2016 – 2022, (USD Million)
    • 2.2. Furfural: Market snapshot
  • Chapter 3. Furfural Market: Industry Analysis
    • 3.1. Furfural: Market dynamics
    • 3.2. Market Drivers
      • 3.2.1. Growing demand for furfural in pharmaceuticals industry
      • 3.2.2. Rising applications in various end user industries
    • 3.3. Restraints
      • 3.3.1. High cost of productivity
    • 3.4. Opportunity
      • 3.4.1. Increasing research and development investments
      • 3.4.2. Robust demand for agrochemicals in Asia Pacific
    • 3.5. Porter’s Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis by application
      • 3.6.2. Market attractiveness analysis by region
  • Chapter 4. Global Furfural Market: Competitive Landscape
    • 4.1. Company Market Share Analysis [Subject to Data Availability]
      • 4.1.1. Global furfural market: Company market share, 2016
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Types Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Types and Regional Expansion
  • Chapter 5. Global Furfural Market: Application Overview
    • 5.1. Global furfural market share, by application, 2016 and 2022
    • 5.2. Solvents
      • 5.2.1. Global furfural market for solvents, 2016 – 2022 (Kilo Tons) (USD Million)
    • 5.3. Pharmaceuticals
      • 5.3.1. Global furfural market for pharmaceuticals, 2016 – 2022 (Kilo Tons) (USD Million)
    • 5.4. Furfuryl Alcohol
      • 5.4.1. Global furfural market for furfuryl alcohol, 2016 – 2022 (Kilo Tons) (USD Million)
    • 5.5. Others
      • 5.5.1. Global furfural market for other applications, 2016 – 2022 (Kilo Tons) (USD Million)
  • Chapter 6. Global Furfural Market: Regional Analysis
    • 6.1. Global furfural market: Regional overview
      • 6.1.1. Global furfural market share, by region, 2016 and 2022
    • 6.2. North America
      • 6.2.1. North America furfural market volume, by application, 2016 – 2022 (Kilo Tons)
      • 6.2.2. North America furfural market revenue, by application, 2016 – 2022 (USD Million)
    • 6.3. Europe
      • 6.3.1. Europe furfural market volume, by application, 2016 – 2022 (Kilo Tons)
      • 6.3.2. Europe furfural market revenue, by application, 2016 – 2022 (USD Million)
    • 6.4. Asia Pacific
      • 6.4.1. Asia-Pacific furfural market volume, by application, 2016 – 2022 (Kilo Tons)
      • 6.4.2. Asia-Pacific furfural market revenue, by application, 2016 – 2022 (USD Million)
    • 6.5. Latin America
      • 6.5.1. Latin America furfural market volume, by application, 2016 – 2022 (Kilo Tons)
      • 6.5.2. Latin America furfural market revenue, by application, 2016 – 2022 (USD Million)
    • 6.6. Middle East & Africa
      • 6.6.1. Middle East & Africa furfural market volume, by application, 2016 – 2022 (Kilo Tons)
      • 6.6.2. Middle East & Africa furfural market revenue, by application, 2016 – 2022 (USD Million)
  • Chapter 7. Company Profiles
    • 7.1. Silvateam S.p.A.
      • 7.1.1. Company Overview
      • 7.1.2. Financials
      • 7.1.3. Types portfolio
      • 7.1.4. Business strategy
      • 7.1.5. Recent developments
    • 7.2. Nutrafur S.A.
      • 7.2.1. Company Overview
      • 7.2.2. Financials
      • 7.2.3. Types portfolio
      • 7.2.4. Business strategy
      • 7.2.5. Recent developments
    • 7.3. Illovo Sugar Ltd.
      • 7.3.1. Company Overview
      • 7.3.2. Financials
      • 7.3.3. Types portfolio
      • 7.3.4. Business strategy
      • 7.3.5. Recent developments
    • 7.4. Central Romana Corp.
      • 7.4.1. Company Overview
      • 7.4.2. Financials
      • 7.4.3. Types portfolio
      • 7.4.4. Business strategy
      • 7.4.5. Recent developments
    • 7.5. Arcoy Biorefinery Pvt. Ltd.
      • 7.5.1. Company Overview
      • 7.5.2. Financials
      • 7.5.3. Types portfolio
      • 7.5.4. Business strategy
      • 7.5.5. Recent developments
    • 7.6. International Furan Chemicals
      • 7.6.1. Company Overview
      • 7.6.2. Financials
      • 7.6.3. Types portfolio
      • 7.6.4. Business strategy
      • 7.6.5. Recent developments
    • 7.7. Lenzing AG
      • 7.7.1. Company Overview
      • 7.7.2. Financials
      • 7.7.3. Types portfolio
      • 7.7.4. Business strategy
      • 7.7.5. Recent developments
    • 7.8. Tieling North Furfural (Group) Co., Ltd.
      • 7.8.1. Company Overview
      • 7.8.2. Financials
      • 7.8.3. Types portfolio
      • 7.8.4. Business strategy
      • 7.8.5. Recent developments
    • 7.9. Penn A Kem LLC
      • 7.9.1. Company Overview
      • 7.9.2. Financials
      • 7.9.3. Types portfolio
      • 7.9.4. Business strategy
      • 7.9.5. Recent developments
    • 7.10. KRBL Ltd
      • 7.10.1. Company Overview
      • 7.10.2. Financials
      • 7.10.3. Types portfolio
      • 7.10.4. Business strategy
      • 7.10.5. Recent developments

List of Figures

1. Global furfural market segmentation by application, and region
2. Global furfural market, 2016 – 2022 (Kilo Tons) (USD Million)
3. Porter’s five forces analysis: Furfural market
4. Market attractiveness analysis by application
5. Market attractiveness analysis by region
6. Global furfural market: Company market share, 2016
7. Global furfural market share, by application, 2016 -2022
8. Global furfural market for solvents, 2016 – 2022 (Kilo Tons) (USD Million)
9. Global furfural market for pharmaceutical, 2016 – 2022 (Kilo Tons) (USD Million)
10. Global furfural market for furfuryl alcohol, 2016 – 2022 (Kilo Tons) (USD Million)
11. Global furfural market for other applications, 2016 – 2022 (Kilo Tons) (USD Million)
12. Global furfural market share, by region, 2016 – 2022
13. North America furfural market, 2016 – 2022, (Kilo Tons) (USD Million)
14. Europe furfural market, 2016 – 2022, (Kilo Tons) (USD Million)
15. Asia Pacific furfural market, 2016 – 2022, (Kilo Tons) (USD Million)
16. Latin America furfural market, 2016-2022, (Kilo Tons) (USD Million)
17. Middle East & Africa furfural market, 2016 – 2022, (Kilo Tons) (USD Million)


List of Tables

1. Global furfural market snapshot
2. Drivers for furfural market: Impact analysis
3. Restraints of furfural market: Impact analysis
4. North America furfural market volume, by application, 2016 – 2022 (Kilo Tons)
5. North America furfural market revenue, by application, 2016 – 2022 (USD Million)
6. Europe furfural market volume, by application, 2016 – 2022 (Kilo Tons)
7. Europe furfural market revenue, by application, 2016 – 2022 (USD Million)
8. Asia Pacific furfural market volume, by application, 2016 – 2022 (Kilo Tons)
9. Asia Pacific furfural market revenue, by application, 2016 – 2022 (USD Million)
10. Latin America furfural market volume, by application, 2016 – 2022 (Kilo Tons)
11. Latin America furfural market revenue, by application, 2016 – 2022 (USD Million)
12. Middle East & Africa furfural market volume, by application, 2016 – 2022 (Kilo Tons)
13. Middle East & Africa furfural market revenue, by application, 2016 – 2022 (USD Million)

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