Furfural Market Share, Growth Opportunities and Trends 2022 – 2030

San Francisco, California , USA, Jan 16, 2023 — /EPR Network/ —

Furfural Industry Overview

The global furfural market size was estimated at USD 522.60 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030.

The rising importance of bio-based solvents as a consequence of increasing environmental concerns is anticipated to boost the product demand in solvent applications over the forecast period. The market observed a dip in 2020 owing to the outbreak of the COVID-19 pandemic. There was a change in production volume due to social distancing norms and lockdowns. Disruption in the supply chain and the logistic facility also impacted the furfural production.

Gather more insights about the market drivers, restrains and growth of the Global Furfural Market

Furfural is broadly used as a solvent or intermediate in several end-use industries, including foundry, agriculture, paints & coatings, pharmaceuticals, refineries, chemicals, automotive, and construction. The growing construction sector is projected to supplement the product demand in several refractory materials including ceramics, bricks, and fiberglass composites over the forecast period. In addition, the rising demand for sustainable products due to the depletion of fossil fuel resources is estimated to drive the demand.

At present, furfural production is characterized by outdated manufacturing technologies, high steam usage, and high acid consumption, which lead to considerably low product yield or output. As a result, many companies are focusing on the development of new processes to decrease the overall energy consumption and increase the product yield during the purification step. Manufacturers are inclined toward using a combination of the most effective biomass to chemical techniques occasioning a significant decline in operational costs.

Browse through Grand View Research’s Renewable Chemicals Industry Research Reports.

  • Bio-acetic Acid MarketThe global bio-acetic acid market size was valued at USD 206.3 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.99% from 2022 to 2030.
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Furfural Market Segmentation

Grand View Research has segmented the global furfural market on the basis of process, raw material, end-use, and region:

  • Furfural Process Outlook (Volume, Tons, Revenue, USD Thousands, 2017 – 2030)
    • Quacker Batch Process
    • Chinese Batch Process
    • Rosenlew Continuous Process
    • Others
  • Furfural Raw Material Outlook (Volume, Tons, Revenue, USD Thousands, 2017 – 2030)
    • Corncob
    • Sugarcane Bagasse
    • Sunflower Hull
    • Rice Husk
    • Others
  • Furfural Application Outlook (Volume, Tons, Revenue, USD Thousands, 2017 – 2030)
    • Furfuryl Alcohol
    • Solvent
    • Intermediate
    • Others
  • Furfural End-use Outlook (Volume, Tons, Revenue, USD Thousands, 2017 – 2030)
    • Agriculture
    • Paints & Coatings
    • Pharmaceuticals
    • Food & Beverage
    • Refineries
    • Others
  • Furfural Market Regional Outlook (Volume, Tons, Revenue, USD Thousands, 2017 – 2030)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Furfural market include

  • Illovo Sugar Africa (Pty.) Ltd.
  • Central Romana Corporation
  • TransFurans Chemicals bvba
  • Pennakem, LLC
  • Hebeichem
  • Silvateam S.p.a
  • Lenzing Ag
  • Linzi Organic Chemical Inc. Ltd.

Order a free sample PDF of the Furfural Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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