Furfural Market Share, Size, Trends, Industry Analysis Report, By Process (Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process); By Raw Material; By Application; By End Use; By Region; Segment Forecast, 2023 - 2032

Furfural Market Share, Size, Trends, Industry Analysis Report, By Process (Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process); By Raw Material; By Application; By End Use; By Region; Segment Forecast, 2023 - 2032

The global furfural market size is expected treach USD 1,071.85 million by 2032, according ta new study by Polaris Market Research. The report “Furfural Market Share, Size, Trends, Industry Analysis Report, By Process (Quaker Batch Process, Chinese Batch Process, Rosenlew Continuous Process); By Raw Material; By Application; By End Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Growing use of furfural in the production of phenolic resins have a greater impact on the market. Phenolic resins are used in the production of various products such as adhesives, coatings, and insulation. Furfural is used as an intermediate in the production of phenolic resins which are used in the refineries.

Increasing production of biofuels is alsinfluencing the growth of the market. With the increasing production of biofuels, refineries are expected tconsume more furfural. Furfural is a byproduct of the production of biofuels, and as the production of biofuels increases, swill the demand for furfural. Increasing use of furfural in the production of xylene will fuel the growth of the market. Furfural is used in the production of xylene, which is an important component in the petrochemical industry. The increasing demand for xylene in the refineries is expected tdrive the growth of the furfural market.

According tanalysis released by the OECD & the International Energy Agency, many nations struggling tbalance long-standing commitments tphase out inefficient fossil fuel subsidies, and saving consumers from skyrocketing energy prices. As energy prices increased along with the recovery of the global economy, according tnew OECD and IEA data, total government assistance for fossil fuels in the 51 nations, globally, doubled t697.2 USD Bn in 2021 from 362.4 USD Bn, in 2020.

In addition, increased fuel prices and energy demand are expected tcause consumption subsidies tincrease even more in 2022. This will further fuel the growth of the furfural market as demand for biofuel will rise in upcoming years.

Furfuryl alcohol is a versatile chemical intermediate and can be converted inta wide range of products, which is driving the growth of the furfural market. The use of furfuryl alcohol as a binder in core and mold making in the foundry industry is contributing tthe growth of the furfural market. The growing use of furfuryl alcohol as a solvent and intermediate in the chemical and petrochemical industry is contributing tthe growth of the furfural market.

The Asia Pacific region is a major consumer of xylene, which is an important component in the petrochemical industry. The increasing demand for xylene in the region is expected tdrive the growth of the furfural market. The Asia Pacific region is a major producer of biofuels, and as the production of biofuels increases, swill the demand for furfural. The Asia Pacific region is witnessing rapid industrialization and urbanization, which is expected tdrive the growth of the petrochemical and chemical industries, leading tan increase in demand for furfural.

Furfural Market Report Highlights

The Chinese batch process is anticipated tgrow due tits advantages such as low cost, high efficiency, and the ability tuse a wide range of raw materials.

The Corn Cob segment accounted for the higher growth rate owing tits benefits such as abundant, renewable, and low-cost feedstock.

Furfuryl alcohol is projected texperience a significant growth rate as it is a key derivative of furfuryl and is used in a variety of industrial applications.

Refineries segment is anticipated tgrow at a higher rate owing tthe increasing demand for fuel additives and growing use of furfural in the production of xylene.

The global players include IllovSugar Africa, Linzi Organic, TransFurans Chemicals, Central Romana, DalinYebo, Hebeichem, KRBL, & LENZING.

Polaris Market Research has segmented the furfural market report based on process, raw material, application, end use and region:

Furfural, Process Outlook (Revenue - USD Million, 2019 - 2032)

Quaker Batch Process

Chinese Batch Process

Rosenlew Continuous Process

Furfural, Raw Material Outlook (Revenue - USD Million, 2019 - 2032)

Corn Cob

Sugarcane Bagasse

Sunflower Hull

Rice Husk

Furfural, Application Outlook (Revenue - USD Million, 2019 - 2032)

Furfuryl Alcohol

Solvent

Intermediate

Furfural, End Use Outlook (Revenue - USD Million, 2019 - 2032)

Agriculture

Paints & Coatings

Pharmaceuticals

Food & Beverage

Refineries

Furfural, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa