Furfural Market | Covid-19 Impact Analysis

Furfural Market Insights

Furfural Market is likely to witness a healthy CAGR of 4.8% during the forecast period. The major factors contributing towards the growth of the furfural market are the increasing demand for green chemicals and various regulations related to the development of environmentally friendly products from agencies, such as the Environmental Protection Agency (EPA) and Registration Evaluation Authorization and Restriction of Chemicals (REACH) of Europe. Also, furfural has excellent physical and chemical properties which make it suitable for a variety of applications.

Market Share Analysis

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Furfural Market Share: By Raw Material Type

Based on the raw material type, the market is segmented as corncob, rice husk, sugarcane bagasse, and others. Corncob is expected to be the fastest-growing segment during the forecast period.

Furfural Market Share: By Application Type

Based on the application type, the furfural market is segmented as derivatives, solvent, and others. The derivatives segment held the largest share of the market in 2019, as furfural is used as the starting material for manufacturing of various furan derivatives such as tetrahydrofuran (THF), furfuryl alcohol, maleic anhydride (MA), 2-methyltetrahydrofuran (MTHF), and 1, 5-pentanediol, which are manufactured on a large scale.

Furfural Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing furfural market during the forecast period, driven by China which is not only the largest manufacturer and consumer of furfural but also is the largest exporter of furfural and furfural-based chemicals to the other regions. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

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Some of the major furfural manufacturers are-

• Central Romana Corporation Ltd
• Hongye Holding Group Corporation Limited
• Illovo Sugar Africa (Pty) Ltd
• KRBL Ltd
• Lenzing AG
• Pennakem, LLC
• Shandong Crownchem Industries Co. Ltd
• Silvateam S.p.a
• Tanin d.d
• TransFurans Chemicals BVBA.                                                

Market Scope & Segmentation

Furfural is a colorless organic compound (C4H3OCHO). It is obtained using renewable sources and thus, has no effect on the environment and is considered as a green chemical.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The furfural market is segmented into the following categories. 

Furfural Market Size, Share, & Forecast, by Raw Material Type:

• Corncob (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Rice Husk (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Sugarcane Bagasse (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others  
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Raw Material Type Analysis: Wood Chips, Oat Hulls, and Cotton Husks)

Furfural Market Size, Share, & Forecast, by Application Type:

• Derivatives (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Solvent (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Pharmaceutical, Agriculture, and Food & Beverage)

Furfural Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the raw material types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].