Furfural Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Feb 2019| TMR1319A| Transparency

Report Highlights

Furfural Market - Overview

Furfural is a liquid chemical produced from biomass. Furfural is extensively utilized as a solvent during the manufacture of refractory materials, resin-bonded grinding wheels, and butadiene extraction due to its superior physical properties. This, in turn, is boosting the demand for furfural in solvents. Furfural acts as a platform for the production of biofuels and biochemicals. It is a source of natural precursor to a wide range of furan-based chemicals and solvents such as methylfuran, furfuryl alcohol, tetrahydrofurfuryl alcohol, tetrahydrofuran, methyltetrahydrofuran, dihydropyran, and furoic acid. Furfural is primarily used in the production of furfuryl alcohol. Furfural is also used as a solvent in lubricating oils and butadiene extraction, and as an intermediate in other applications. Demand for furfuryl alcohol is high in the metal casting industry. It is utilized to manufacture various automobile parts and industrial machineries. Furfuryl alcohol is primarily employed in resins, which are used as binders in the foundry industry. Furfuryl alcohol provides superior binding properties and mechanical strength, which is required in sand molds and cores in foundries. Rising demand for metal-casting products in the automotive industry and industrial equipment is driving the global furfuryl alcohol market.

Furfural is also used as a solvent in various industries including pharmaceuticals, lubrication oils, and in extraction processes. In terms of volume and revenue, the solvents segment accounted for a large share of the furfural market. Increasing concerns regarding the limited availability of fossil fuels has increased the demand for renewable resources. Furfural is derived from biomass, which is a renewable resource. Hence, demand for furfural is expected to rise significantly in the near future. Globally, furfural is manufactured through three commercial methods; however, neither of these methods are efficient as they yield less than 50%. These inefficient and low-yield production methods have led to high product cost. This inhibits the global furfural market. Innovative production methods with improved yields are likely to provide large opportunities in the furfural market in the near future.

In terms of volume, Asia Pacific dominated the global furfural market, accounting for a share of more than 60% in 2017. The furfural market in Asia Pacific is driven by the rapid growth in application industries such as furfuryl alcohol, solvents, and pharmaceuticals. Developing economies such as India, China, and those in ASEAN are estimated to be major markets for furfural during the forecast period. Europe held a large share of the furfural market in 2017. However, demand for furfural in Europe is expected to be sluggish due to high cost and slow economic growth. Demand for furfural in North America, Latin America, and Middle East & Africa was moderate in 2017. The trend is likely to continue during the forecast period primarily due to high cost and limited commercial application.

The report analyzes and forecasts the furfural market at the global and regional levels. The market has been projected in terms of volume (tons) and value (US$ Thousand) for the period from 2018 to 2026. The study includes drivers and restraints of the global furfural market. It also encompasses the anticipated impact of these drivers and restraints on the demand for furfural during the forecast period. The report highlights opportunities in the market at global and regional levels.

The report comprises detailed value chain analysis, which provides a comprehensive view of the global furfural market. The Porter’s Five Forces model for the furfural market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein application segments have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global furfural market by segmenting it in terms of application and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for furfural in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in every region.

The study includes profiles of major companies operating in the global furfural market. Key players profiled in the report on the global furfural market include Central Romana Corporation, Ltd., Hongye Holding Corporation Ltd., Illovo Sugar Ltd., Lenzing AG, Penn A Kem LLC, Silvateam S.p.A., Tanin Senvica d.d., Aurus Specialty Company, Henan Huilong Chemical Co., Ltd., Shandong Crownchem Industries Co., Ltd., and Tieling North Furfural (Group) Co., Ltd.  Market leaders engage in strategic pricing and product improvement to increase their profit margins.

The report provides size (in terms of volume and value) of the global furfural market for the base year 2017 and the forecast period between 2018 and 2026. Market numbers have been estimated based on application and region. Market size and forecast for each application segment have been provided for the global and regional markets.

Global Furfural Market, by Application

Furfuryl Alcohol
Solvents
Chemical Intermediates
Pharmaceuticals
Others (including Pesticides and Herbicides)
Global Furfural Market, by Region

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Key Takeaways

The report provides extensive analysis of market trends from 2018 to 2026 to identify growth opportunities and market developments
It provides comparative analysis of various applications, wherein furfural is utilized
It identifies key factors that create opportunities in the furfural market at global, regional, and country levels
The report offers comprehensive analysis with respect to investments and regulatory scenario that are likely to impact the outlook and forecast of the global furfural market between 2018 and 2026
It provides a detailed competition landscape of key players operating in the market to help understand the competition level
The report covers the import-export analysis for 2017
The report provides a detailed pricing analysis based on regional and application segments
The report offers Porter’s Five Forces Analysis to highlight the power of buyers and suppliers

  • Table 1 : Global Furfural Market: Import–Export Scenario (Tons), 2017, HS Code 293212
  • Table 2 : Production of Furfural, by Region/Country, 2017
  • Table 3 : Global Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 4 : Global Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Region, 2017–2026
  • Table 5 : North America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 6 : North America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Country, 2017–2026
  • Table 7 : U.S. Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 8 : Canada Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 9 : Europe Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 10 : Europe Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2017–2026
  • Table 11 : Germany Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 12 : U.K. Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 13 : France Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 14 : Spain Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 15 : Italy Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 16 : Rest of Europe Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 17 : Asia Pacific Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 18 : Asia Pacific Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2017–2026
  • Table 19 : China Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 20 : India Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 21 : Japan Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 22 : ASEAN Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 23 : Rest of Asia Pacific Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 24 : Latin America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 25 : Latin America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2017–2026
  • Table 26 : Brazil Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 27 : Mexico Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 28 : Rest of Latin America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 29 : Middle East & Africa Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 30 : Middle East & Africa Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2017–2026
  • Table 31 : GCC Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 32 : South Africa Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Table 33 : Rest of Middle East & Africa Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2026
  • Figure 1 : Global Furfural Market Snapshot
  • Figure 2 : Global Furfural Market: Key Manufacturers
  • Figure 3 : Global Furfural Market Volume Share, by Application, 2017
  • Figure 4 : Global Furfural Market Volume Share, by Region, 2017
  • Figure 5 : Production of Furfural (Tons), by Region, 2017
  • Figure 6 : Global Furfural Market Volume Share Analysis, by Application, 2017 and 2026
  • Figure 7 : Global Furfural Market Volume (Tons) and Value (US$ Thousand), by Furfural Alcohol, 2017–2026
  • Figure 8 : Global Furfural Market Volume (Tons) and Value (US$ Thousand), by Solvents, 2017–2026
  • Figure 9 : Global Furfural Market Volume (Tons) and Value (US$ Thousand), by Chemical Intermediates, 2017–2026
  • Figure 10 : Global Furfural Market Volume (Tons) and Value (US$ Thousand), by Pharmaceuticals, 2017–2026
  • Figure 11 : Global Furfural Market Volume (Tons) and Value (US$ Thousand), by Others, 2017–2026
  • Figure 12 : Global Furfural Market Attractiveness Analysis, by Application
  • Figure 13 : Global Furfural Market Volume Share Analysis, by Region, 2017 and 2026
  • Figure 14 : Global Furfural Market Attractiveness Analysis, by Region
  • Figure 15 : North America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, 2017–2026
  • Figure 16 : North America Furfural Market Attractiveness, by Country
  • Figure 17 : North America Furfural Market Volume Share Analysis, by Application, 2016 and 2026
  • Figure 18 : North America Furfural Market Volume Share Analysis, by Country, 2017 and 2026
  • Figure 19 : U.S. Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 20 : U.S. Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 21 : Canada Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 22 : Canada Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 23 : North America Furfural Market Attractiveness Analysis, by Application, 2017
  • Figure 24 : Europe Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, 2017–2026
  • Figure 25 : Europe Furfural Market Attractiveness, by Country and Sub-region
  • Figure 26 : Europe Furfural Market Volume Share Analysis, by Application, 2017 and 2026
  • Figure 27 : Europe Furfural Market Volume Share Analysis, by Country and Sub-region, 2017 and 2026
  • Figure 28 : Germany Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 29 : Germany Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 30 : U.K. Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 31 : U.K. Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 32 : France Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 33 : France Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 34 : Spain Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 35 : Spain Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 36 : Italy Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 37 : Italy Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 38 : Rest of Europe Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 39 : Rest of Europe Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 40 : Europe Furfural Market Attractiveness Analysis, by Application, 2017
  • Figure 41 : Asia Pacific Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, 2017–2026
  • Figure 42 : Asia Pacific Furfural Market Attractiveness, by Country and Sub-region
  • Figure 43 : Asia Pacific Furfural Market Volume Share Analysis, by Application, 2017 and 2026
  • Figure 44 : Asia Pacific Market Volume Share Analysis, by Country and Sub-region, 2017 and 2026
  • Figure 45 : China Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 46 : China Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 47 : India Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 48 : India Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 49 : Japan Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 50 : Japan Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 51 : ASEAN Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 52 : ASEAN Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 53 : Rest of Asia Pacific Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 54 : Rest of Asia Pacific Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 55 : Asia Pacific Furfural Market Attractiveness Analysis, by Application, 2017
  • Figure 56 : Latin America Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, 2017–2026
  • Figure 57 : Latin America Furfural Market Attractiveness, by Country and Sub-region
  • Figure 58 : Latin America Furfural Market Volume Share Analysis, by Application, 2017 and 2026
  • Figure 59 : Latin America Market Volume Share Analysis, by Country and Sub-region, 2017 and 2026
  • Figure 60 : Brazil Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 61 : Brazil Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 62 : Mexico Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 63 : Mexico Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 64 : Rest of Latin America Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 65 : Rest of Latin America Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 66 : Latin America Furfural Market Attractiveness Analysis, by Product, 2017
  • Figure 67 : Middle East & Africa Furfural Market Volume (Tons) and Value (US$ Thousand) Forecast, 2017–2026
  • Figure 68 : Middle East & Africa Furfural Market Attractiveness, by Country and Sub-region
  • Figure 69 : Middle East & Africa Furfural Market Volume Share Analysis, by Application, 2017 and 2026
  • Figure 70 : Middle East & Africa Market Volume Share Analysis, by Country and Sub-region, 2017 and 2026
  • Figure 71 : GCC Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 72 : GCC Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 73 : South Africa Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 74 : South Africa Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 75 : Rest of Middle East & Africa Furfural Market Volume (Tons) Forecast, 2017–2026
  • Figure 76 : Rest of Middle East & Africa Furfural Market Value (US$ Thousand) Forecast, 2017–2026
  • Figure 77 : Latin America Furfural Market Attractiveness Analysis, by Product, 2017
  • Figure 78 : Furfural Market Share Analysis, by Company Production, 2017

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