The Furfural Market size is estimated at 388.55 kilotons in 2024, and is expected to reach 463.03 kilotons by 2029, growing at a CAGR of 3.57% during the forecast period (2024-2029).
The COVID-19 pandemic initially disrupted the furfural market due to supply chain interruptions and reduced industrial activities. However, as global economies gradually recovered, there was an increased demand for furfural, particularly in sectors like pharmaceuticals, agricultural chemicals, and biofuels. The growth was driven by the rising interest in sustainable and bio-based chemicals, with furfural being derived from agricultural residues.
The furfural market is partially consolidated in nature. Some of the major players in the market include (not in any particular order) Central Romana Corporation, Illovo Sugar Africa (Pty) Ltd, KRBL, LENZING AG, and Pennakem LLC.
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