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The global furfural market was worth $546.49M in 2022 and is expected to reach $954.39M by 2030, expanding from $556.79M in 2023 at a CAGR of 8%.
As a solvent and a precursor to other chemicals and materials, such as furan resins, polymers, and pharmaceuticals, furfural has several applications. In addition to its usage as a preservative, furfural has found a home in the baking and coffee industries as a flavoring additive. Commercial production involves the acid-catalyzed dehydration of pentose sugars like xylose, which can be derived from corn cobs and bagasse, among other agricultural byproducts. Due to rising demand in countries like China and India, the Asia-Pacific region is poised to become the world's largest furfural market. According to the report, the abundance of raw materials and several end-use industries fuel the expansion of the furfural market in this area. The furfural market is forecast to expand at a rapid rate, not just in Asia, but also in North America and Europe. Increased demand from the pharmaceutical sector is cited as a primary factor propelling the furfural market in this area, according to the report. According to the analysis, the rising need for furfural in the region's food and drink sector is to blame.
One of furfural's most promising potential markets is the pharmaceutical sector. According to the paper, this is because furfural is becoming increasingly used in the manufacturing of treatments like antibiotics, antimalarials, and anticancer medications. One of furfural's most promising potential markets is the food and beverage sector. According to the study, this sector's furfural market expansion is being propelled by people's growing interest in using organic and all-natural ingredients in their cuisine. Both the WHO and the FDA have established safe exposure levels for furfural because of the chemical's potential carcinogenicity in humans. Furfural's rising use as a biofuels additive and flavoring agent has driven the market upwards in recent years. Furfural's popularity is predicted to wane as a result of substitute solvents and tighter regulation from governments throughout the world.
Process-Based Analysis of the Furfural Industry
The market can be broken down into submarkets such as Chinese Batch Process and Quaker Batch Process. It is anticipated that the Chinese batch method would maintain its dominant position in the Chinese furfural market. Traditional Chinese furfural production used corncobs, rice husks, or bagasse as feedstock in a batch process. To obtain furfural, the raw material is first soaked in diluted acid and then distilled. It takes time to complete the Chinese batch method, and the quality of the resulting furfural can vary depending on the ingredients.
In response to rising demand for high-quality furfural in North America and Europe, the Quaker batch process has emerged as a viable alternative to the more traditional Chinese batch process. The Quaker batch process is a cutting-edge method for creating furfural from wood by-products like sawdust. The raw ingredient is first soaked in a solvent, then distilled to produce furfural. Compared to the Chinese batch process, the Quaker batch approach is more effective and yields higher-quality furfural.
End-User Segmentation of the Furfural Industry
Pharmaceuticals, flavors and fragrances, agriculture, and plastics and resins are only few of the end-use industries that can be separated from one another in terms of distribution route. The medicines industry was the most lucrative around the world. Antibiotics, antimalarials, and anticancer medications are just few of the many pharmaceuticals that utilize furfural in their manufacturing. With more people getting sick and wanting better treatment, the pharmaceutical industry's need for furfural is only likely to rise rapidly in the future years. The pharmaceutical industry is also projected to benefit from the rising interest in using organic and natural components.
One of furfural's most important applications is in the flavor and scent market. Furfural is a common additive to baked products and coffee for added flavor. It's also in perfumes and other scented products. Growing consumer interest in using all-natural and organic components in their food and personal care products is predicted to fuel a sustained uptick in demand for furfural in the flavors and fragrances industry over the next few years. The furfural market could face restraints from raw material price fluctuations and tight regulations for its use in food and personal care products.
Factors Influencing the Market for Furfural
Use as a sustainable and non-toxic chemical
The fact that furfural may be used as a renewable and eco-friendly chemical is a key factor propelling the industry. Furfural is made from commonplace agricultural byproducts such corn cobs, sugarcane bagasse, and oat husks. Furfural reduces carbon emissions and toxicity compared to conventional solvents made from petrochemicals. Because of this, businesses in the food, beverage, pharmaceutical, and chemical sectors have started to seek out furfural. Market expansion is anticipated to be fueled in the future years by the discovery of novel uses for furfural, such as in the manufacture of biofuels and bioplastics.
Market Constraints on Furfural
Opportunities in the global furfural market are expanding as the green chemical industry grows.
Companies in the chemical industry are switching to greener production processes in order to meet the growing demand for bio-based and green chemicals. Fermentation, biocatalysis, and enzymatic reactions are just a few examples of the biotechnological processes that have allowed this to be a reality. The need for eco-friendly chemicals has increased as a result of this cultural shift. Green chemical producers are growing output and building new facilities to keep up with rising consumer demand. To facilitate entry into the market, they are also standardizing production and distribution. In order to strengthen their position in the market, organizations in this industry rely heavily on strategic alliances, mergers, and acquisitions. Manufacturers and raw material suppliers are profoundly affected by the financial and operational actions of consumers. Growth in the green chemical industry, corporate sustainability programs, and the development of alternative bio-based value chains have all contributed to the expansion of the furfural market.
Report Coverage
Global Furfural research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Furfural report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Furfural competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Furfural market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Furfural market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Furfural market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Central Romana Corporation Ltd., Arcoy Biorefinery Pvt. Ltd., Penn A Kem LLC, Tieling North Furfural (Group) Co. Ltd., Silvateam S.p.A., Hongye Holding Group Corporation Ltd., TransFurans Chemicals BVBA, Tanin Sevnica d.d., Linzi Organic Chemicals Inc., Illovo Sugar Africa (Pty) Ltd., KRBL Ltd., NCAB Group AB, Lenzing AG, Furfural Espanol S.A., Silvateam Brasil Ltda., Zibo Xinye Chemical Co. Ltd., Quimica del Cinca S.L., Xingtai Chunlei Furfuryl Alcohol Co. Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Furfural market based on the below-mentioned segments:
Global Furfural Market, By Process
Chinese Batch Process
Quaker Batch Process
Global Furfural Market, By End User
Pharmaceuticals
Flavors and Fragrances
Agriculture
Plastics and Resins
Global Furfural market, Regional Analysis
As a solvent and a precursor to other chemicals and materials, such as furan resins, polymers, and pharmaceuticals, furfural has several applications. In addition to its usage as a preservative, furfural has found a home in the baking and coffee industries as a flavoring additive. Commercial production involves the acid-catalyzed dehydration of pentose sugars like xylose, which can be derived from corn cobs and bagasse, among other agricultural byproducts. Due to rising demand in countries like China and India, the Asia-Pacific region is poised to become the world's largest furfural market. According to the report, the abundance of raw materials and several end-use industries fuel the expansion of the furfural market in this area. The furfural market is forecast to expand at a rapid rate, not just in Asia, but also in North America and Europe. Increased demand from the pharmaceutical sector is cited as a primary factor propelling the furfural market in this area, according to the report. According to the analysis, the rising need for furfural in the region's food and drink sector is to blame.
One of furfural's most promising potential markets is the pharmaceutical sector. According to the paper, this is because furfural is becoming increasingly used in the manufacturing of treatments like antibiotics, antimalarials, and anticancer medications. One of furfural's most promising potential markets is the food and beverage sector. According to the study, this sector's furfural market expansion is being propelled by people's growing interest in using organic and all-natural ingredients in their cuisine. Both the WHO and the FDA have established safe exposure levels for furfural because of the chemical's potential carcinogenicity in humans. Furfural's rising use as a biofuels additive and flavoring agent has driven the market upwards in recent years. Furfural's popularity is predicted to wane as a result of substitute solvents and tighter regulation from governments throughout the world.
Process-Based Analysis of the Furfural Industry
The market can be broken down into submarkets such as Chinese Batch Process and Quaker Batch Process. It is anticipated that the Chinese batch method would maintain its dominant position in the Chinese furfural market. Traditional Chinese furfural production used corncobs, rice husks, or bagasse as feedstock in a batch process. To obtain furfural, the raw material is first soaked in diluted acid and then distilled. It takes time to complete the Chinese batch method, and the quality of the resulting furfural can vary depending on the ingredients.
In response to rising demand for high-quality furfural in North America and Europe, the Quaker batch process has emerged as a viable alternative to the more traditional Chinese batch process. The Quaker batch process is a cutting-edge method for creating furfural from wood by-products like sawdust. The raw ingredient is first soaked in a solvent, then distilled to produce furfural. Compared to the Chinese batch process, the Quaker batch approach is more effective and yields higher-quality furfural.
End-User Segmentation of the Furfural Industry
Pharmaceuticals, flavors and fragrances, agriculture, and plastics and resins are only few of the end-use industries that can be separated from one another in terms of distribution route. The medicines industry was the most lucrative around the world. Antibiotics, antimalarials, and anticancer medications are just few of the many pharmaceuticals that utilize furfural in their manufacturing. With more people getting sick and wanting better treatment, the pharmaceutical industry's need for furfural is only likely to rise rapidly in the future years. The pharmaceutical industry is also projected to benefit from the rising interest in using organic and natural components.
One of furfural's most important applications is in the flavor and scent market. Furfural is a common additive to baked products and coffee for added flavor. It's also in perfumes and other scented products. Growing consumer interest in using all-natural and organic components in their food and personal care products is predicted to fuel a sustained uptick in demand for furfural in the flavors and fragrances industry over the next few years. The furfural market could face restraints from raw material price fluctuations and tight regulations for its use in food and personal care products.
Factors Influencing the Market for Furfural
Use as a sustainable and non-toxic chemical
The fact that furfural may be used as a renewable and eco-friendly chemical is a key factor propelling the industry. Furfural is made from commonplace agricultural byproducts such corn cobs, sugarcane bagasse, and oat husks. Furfural reduces carbon emissions and toxicity compared to conventional solvents made from petrochemicals. Because of this, businesses in the food, beverage, pharmaceutical, and chemical sectors have started to seek out furfural. Market expansion is anticipated to be fueled in the future years by the discovery of novel uses for furfural, such as in the manufacture of biofuels and bioplastics.
Market Constraints on Furfural
Opportunities in the global furfural market are expanding as the green chemical industry grows.
Companies in the chemical industry are switching to greener production processes in order to meet the growing demand for bio-based and green chemicals. Fermentation, biocatalysis, and enzymatic reactions are just a few examples of the biotechnological processes that have allowed this to be a reality. The need for eco-friendly chemicals has increased as a result of this cultural shift. Green chemical producers are growing output and building new facilities to keep up with rising consumer demand. To facilitate entry into the market, they are also standardizing production and distribution. In order to strengthen their position in the market, organizations in this industry rely heavily on strategic alliances, mergers, and acquisitions. Manufacturers and raw material suppliers are profoundly affected by the financial and operational actions of consumers. Growth in the green chemical industry, corporate sustainability programs, and the development of alternative bio-based value chains have all contributed to the expansion of the furfural market.
Report Coverage
Global Furfural research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Furfural report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Furfural competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Furfural market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Central Romana Corporation Ltd., Arcoy Biorefinery Pvt. Ltd., Penn A Kem LLC, Tieling North Furfural (Group) Co. Ltd., Silvateam S.p.A., Hongye Holding Group Corporation Ltd., TransFurans Chemicals BVBA, Tanin Sevnica d.d., Linzi Organic Chemicals Inc., Illovo Sugar Africa (Pty) Ltd., KRBL Ltd., NCAB Group AB, Lenzing AG, Furfural Espanol S.A., Silvateam Brasil Ltda., Zibo Xinye Chemical Co. Ltd., Quimica del Cinca S.L., Xingtai Chunlei Furfuryl Alcohol Co. Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Furfural Market from 2021 to 2030.
- Market Forecast for Furfural Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Furfural competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Furfural
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Furfural market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Furfural market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Central Romana Corporation Ltd., Arcoy Biorefinery Pvt. Ltd., Penn A Kem LLC, Tieling North Furfural (Group) Co. Ltd., Silvateam S.p.A., Hongye Holding Group Corporation Ltd., TransFurans Chemicals BVBA, Tanin Sevnica d.d., Linzi Organic Chemicals Inc., Illovo Sugar Africa (Pty) Ltd., KRBL Ltd., NCAB Group AB, Lenzing AG, Furfural Espanol S.A., Silvateam Brasil Ltda., Zibo Xinye Chemical Co. Ltd., Quimica del Cinca S.L., Xingtai Chunlei Furfuryl Alcohol Co. Ltd.
Primary Target Market
- Market Players of Furfural
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Furfural market based on the below-mentioned segments:
Global Furfural Market, By Process
Chinese Batch Process
Quaker Batch Process
Global Furfural Market, By End User
Pharmaceuticals
Flavors and Fragrances
Agriculture
Plastics and Resins
Global Furfural market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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