Oct 15, 2019   SOURCE: BusinessWire

$700 Million Furfural Market - Global Forecast to 2024 - ResearchAndMarkets.com

The "Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk and Others), Application (Derivatives (Furfural Alcohol and Other Derivatives), solvent) and Region (Asia-Pacific, Americas, Europe, Middle East and Africa) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The furfural market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period. The market is driven by the increasing use of various derivatives of furfural in different industries and shift toward green chemicals.

The corncob-based furfural segment is projected to register the highest CAGR during the forecast period.

Corncob is estimated to be the fastest-growing raw material for the manufacturing of furfural. This is due to the high pentosan content in corncobs, resulting in a high yield of furfural. The majority of the furfural manufacturing plants in the world use corncobs.

The derivatives segment is expected to be the largest application of furfural during the forecast period.

Furfural is majorly used in the manufacturing of furfural-based chemicals. Among the derivatives, furfuryl alcohol accounts for the largest consumption of furfural. This, in turn, is used in the manufacturing of furan resins. Apart from furfuryl alcohol, furfural is also used in the manufacturing of other derivatives such as THF, furoic acid, and tetrahydrofuranyl alcohol (THFA).

APAC is estimated to be the fastest-growing market during the forecast period.

APAC is estimated to be the fastest-growing furfural market during the forecast period. The region is the largest producer and consumer of furfural. China led the global market for furfural, and it is projected to continue during the forecast period. China is also the largest manufacturer and exporter of furfural globally. Besides China, the market for furfural is also propelled by countries such as Thailand and India.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Furfural Market

4.2 APAC Furfural Market, By Country and Application, 2018

4.3 Furfural Market, By Key Countries

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Growing Demand for Furfuryl Alcohol

5.2.1.2 Shift Toward Renewable Chemicals

5.2.2 Restraints

5.2.2.1 Availability of Crude Oil-Based Alternatives

5.2.3 Opportunities

5.2.3.1 Emerging Demand for Furfural Derivatives (Apart From Furfuryl Alcohol) in Various Applications

5.2.4 Challenges

5.2.4.1 Low Yield of Furfural From Traditional Technology

5.3 Porter's Five Forces Analysis

5.4 Furfural Patent Analysis

5.4.1 Insights

6 Furfural Market, By RaW Material

6.1 Introduction

6.2 Sugarcane Bagasse (Scb)

6.2.1 A Sustainable Sugar Industry By-Product, Scb is Available in Abundance in All Regions

6.3 Corncob

6.3.1 Corncob Consists of the Highest Hemicellulose Content of All the RaW Materials for Furfural

6.4 Rice Husk

6.4.1 Rice Husk Has the Lowest Content of Hemicellulose

6.5 Others

7 Furfural Market, By Application

7.1 Introduction

7.2 Derivatives

7.2.1 Huge Demand for Furfural in the Manufacturing of Furfuryl Alcohol is Driving the Market in This Segment

7.3 Solvent

7.3.1 The Non-Toxicity of Furfural Makes It A Suitable Alternative to Phenols for the Refining of Lubricant Oils Through Solvent Extraction

7.4 Others

8 Furfural Market, By Region

8.1 Introduction

8.2 APAC

8.2.1 China

8.2.1.1 Backed By A Strong Pharmaceuticals Market, China is the Largest Producer of Furfural in the World

8.2.2 Thailand

8.2.2.1 The Furfural Market in Thailand is Expected to Be Driven By the Rising Sportswear Industry During the Forecast Period

8.2.3 India

8.2.3.1 The Pharmaceutical Industry is One of the Major Drivers for the Market in the Country

8.2.4 Rest of APAC

8.3 Europe

8.3.1 Belgium

8.3.1.1 The Presence of the World's Largest Furfuryl Alcohol Plant Makes the Country A Major Market

8.3.2 Netherlands

8.3.2.1 Imports and Exports of Furfural are Driving the Market in the Country

8.3.3 Germany

8.3.3.1 The Growing Foundry Industry is Boosting the Demand for Furfural

8.3.4 Rest of Europe

8.4 Middle East & Africa

8.4.1 South Africa

8.4.1.1 A Significant Amount of Furfural Manufactured in the Country is Exported to APAC and European Countries

8.4.2 Algeria

8.4.2.1 As the Largest Importer of Furfural in Africa, Algeria Holds Growth Potential for the Market

8.4.3 Rest of Middle East & Africa

8.5 Americas

8.5.1 US

8.5.1.1 The Growing Sportswear Market is Expected to Drive the Market in the Country

8.5.2 Rest of Americas

9 Company Profiles

9.1 Central Romana Corporation

9.2 Pennakem

9.3 Illovo Sugar Africa

9.4 Lenzing

9.5 Transfurans Chemicals

9.6 Silvateam

9.7 Hongye Holding Group Corporation

9.8 KRBL

9.9 Tanin

9.10 Shandong Crownchem Industries Limited

9.11 Additional Players

9.11.1 Laxmi Furals Private Limited

9.11.2 Xingtai Chunlei Furfuryl Alcohol

9.11.3 Shanghai Ruizheng Technology

9.11.4 Hefei Tnj Chemical Industry

9.11.5 Zhucheng Taisheng Chemical

9.11.6 NC Nature Chemicals

9.11.7 Furnova Polymers

9.11.8 TCI Chemicals

9.11.9 Beijing Lys Chemicals

9.11.10 Aurus Specialty Chemicals

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