Furfural Market size was valued at USD 548.56 Million in 2023 and the total Global Furfural Market revenue is expected to grow at a CAGR of 4.66 % from 2024 to 2030, reaching nearly USD 754.73 Million by 2030.
Furfural Market Overview
Furfural, a chemical derived from agricultural byproducts like corncobs, oat hulls, and sugarcane bagasse, is widely available globally. It is mainly used in pharmaceuticals, agriculture, and chemical industries. Major producers include Central Romana Corporation, Pennakem, Silvateam, and Illovo Sugar. In 2023, the furfural market saw strong sales and revenue growth, driven by technological advancements that improve production efficiency and reduce environmental impact.
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Market Forecast and Key Dynamics:
The furfural market is expanding due to rising demand for bio-based chemicals and renewable sources. Furfural, sourced from agricultural by-products like corncobs, sugarcane bagasse, and rice husks, offers a sustainable alternative to petrochemicals. Its derivatives, particularly Furfuryl alcohol, are widely used in producing foundry resins essential for metal casting. This segment leads the market, generating approximately xx% of the revenue.
Furfural Market Regional Insights
The global furfural market exhibits notable regional variations. In Asia-Pacific, particularly in countries like China and India, the market is driven by the high availability of agricultural by-products and increasing industrial applications. North America and Europe also play significant roles, with demand fueled by advancements in bio-based chemical technologies and stringent environmental regulations promoting sustainable practices. Latin America and Africa, with their rich agricultural resources, are emerging markets where furfural production is growing due to rising industrialization and investments in green technologies.
Furfural Market Segmentation
By Raw Materials
Corncobs
Sugarcane Bagasse
Rice Husks
Others
By Application
Furfuryl Alcohol
Solvent
Butadiene Extraction
Flavoring Intermediates
Others
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Furfural Market Key Players
Central Romana Corporation
China XLX Fertiliser Ltd.
Hongye Holding Group Corporation Limited
Illovo Sugar
KRBL Limited
Pennakem
Puyang Refining Company Limited
Silvateam
Thapar
DalinYebo.
Hebeichem.
Linzi Organic Chemical Inc. Ltd.
Silva team S.p.a.
Trans Furans Chemicals bvba.
Key questions answered in the Furfural Market are:
- What is Furfural?
- What was the Furfural market size in 2021?
- What is the growth rate of the Furfural Market?
- Which are the factors expected to drive the Furfural market growth?
- What are the different segments of the Furfural Market?
- What growth strategies are the players considering to increase their presence in Furfural?
- What are the upcoming industry applications and trends for the Furfural Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Furfural Market?
- What segments are covered in the Furfural Market?
- Who are the leading companies and what are their portfolios in Furfural Market?
- What segments are covered in the Furfural Market?
- Who are the key players in the Furfural market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by Different Segment | 2022-2027
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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