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Our report Company predicts the global furfural market will grow from USD 1,108 million in 2021 to USD 1,699 million by 2028, achieving a compound annual growth rate (CAGR) of 6.3 percent.
Furfural is a heterocyclic aldehyde with the formula C4H3OCHO. It can be produced from agricultural raw materials containing pentosans and lignocellulosic feedstock. It is also obtained from xylose, via dehydration. Furfural is primarily used in the production of furan derivatives such as furan and furfuryl alcohol.
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The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global furfural market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the furfural industry.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the source, application, end user, and region. The global market for furfural can be segmented by source: bagasse, corncobs, rice husk, others. Furfural market is further segmented by application: chemical intermediates, furfuryl alcohol, pharmaceuticals, solvents, others. The furfuryl alcohol segment held the largest revenue share in 2021.
Based on end user, the furfural market is segmented into: chemicals, food & beverages, pharmaceuticals, agricultural formulations, others. Globally, the chemicals segment made up the largest share of the furfural market. On the basis of region, the furfural market also can be divided into: Asia Pacific, Europe, North America, Rest of the World (RoW). Asia Pacific was the largest contributor to the global furfural market in 2021.
By source:
bagasse
corncobs
rice husk
others
By application:
chemical intermediates
furfuryl alcohol
pharmaceuticals
solvents
others
By end user:
chemicals
food & beverages
pharmaceuticals
agricultural formulations
others
By region:
Asia Pacific
Europe
North America
Rest of the World (RoW)
The report has also analysed the competitive landscape of the global furfural market with some of the key players being KRBL LIMITED, Aurus Speciality Company. Ltd, Central Romana Corporation, Chengde Quanli Industry & Trade Group Co., Ltd., Hebei Xingtai Chunlei Furfuryl Alcohol Co., Ltd., Henan Huilong Chemical Co., Ltd., Hongye Holding Group Corporation Limited, Illovo Sugar Africa (Pty) Ltd, Lenzing AG, Minafin Group (Pennakem LLC), Shandong Longxin Chemical Group Co., Ltd., Shandong Yino Biologic Materials Co., Ltd., Shanxi Province Gaoping Chemical Co., Ltd., Silvateam S.p.a., Tanin d.d. Sevnica, TransFurans Chemicals BVBA, Xingtai Chunlei Furfuryl Alcohol Co., Ltd., among others.
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