Global Furfural Derivatives Market, By Application (Furfuryl Alcohol, Solvents, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Global Furfural Derivatives Market, By Application (Furfuryl Alcohol, Solvents, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

The furfural derivatives market size is expected to reach US$ 21.84 Bn by 2031 , from US$ 13.15 Bn in 2024 at a CAGR of 7.5% during the forecast period.

Figure 1. Furfural Derivatives Market Share (%), by Region, 2024

Furfural derivatives are organic compounds derived through cross-linking and substitution reactions on furfural. Furfural is an organic compound obtained through acid-catalyzed dehydration of pentoses, such as xylose and arabinose, which are primarily obtained as agricultural by-products. Furfural derivatives find applications as solvents, crop protection agents, synthetic rubber intermediates, extracting agents, and industrial chemicals. The rising demand from end-use industries, such as petroleum refining, agricultural inputs, and pharmaceuticals, is expected to drive the furfural derivatives market growth over the forecast period. They also serve as important building blocks in the production of next-generation agrochemicals and polymer additives. With the increasing need to utilize renewable biomass resources for fuels and chemicals production in a sustainable manner, the market for furfural derivatives is expected to grow substantially in the coming years.

Market Dynamics:

The global furfural derivatives market is projected to witness significant growth driven by factors such as the growing petroleum refining industry and high demand for crop protection agents from the agriculture industry. Furfural derivatives, such as furfuryl alcohol and furoic acid, are widely used as solvents in petroleum refining processes such as catalytic reforming and lube oil production. Rapid industrialization and increasing energy demand have boosted petroleum refining activities globally. Moreover, furfural derivatives find extensive application as active ingredients in fungicides, herbicides, and pesticides to enhance crop yields. Increasing global population and rising food demand are propelling the agriculture sector, fueling the demand for crop protection agents. However, fluctuating furfural prices due to an uncertain supply of raw materials and strong competition from alternative chemicals are expected to hinder the market growth. The adoption of bio-based furfural derivatives offers lucrative opportunities for market expansion.

Key Features of the Study:

- This report provides an in-depth analysis of the global furfural derivatives market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global furfural derivatives market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Arcoy Biorefinery Pvt. Ltd., Hongye Holding Group Corporation Ltd., Lenzing AG, Central Romana Corporation, Illovo Sugar Ltd., Penn A Kem LLC, Tanin Sevnica d.d., Linzi Organic Chemicals Inc. Ltd., Silvateam S.p.A., and Karlsruhe Institute of Technology

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global furfural derivatives market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global furfural derivatives market

Market Segmentation:

• Furfural Derivatives Market By Application
• Furfuryl Alcohol
• Solvents
• Others
• Furfural Derivatives Market By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• Top Companies in the Furfural Derivatives Market:
• Pyran
• Pennakem
• LLC
• TransFurans Chemicals bvba
• BASF SE
• UBE Corp.
• Yuanli Chemical Group
• Hefei Home Sunshine Pharmaceutical Technology Co.Ltd.
• AB Enterprises
• Hefei TNJ Chemical Industry Co. Ltd.
• International Furan Chemicals B.V.