Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk), Application (Derivatives, Solvents), End-Use Industry (Agriculture, Paint & Coatings, Pharmaceuticals, Food & Beverages, Refineries), and Region - Global Forecast to 2028

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Date: 08-Dec-2023
No. of pages: 242
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The global growth of the furfural market from 2023 to 2028 is anticipated to be primarily propelled by the rising demand for furfuryl alcohol to produce derivatives and shift toward renewable chemicals. This surge in demand is expected to drive the overall expansion of the furfural market worldwide.

The market size for Global Furfural Market size is projected to grow from USD 662 million in 2023 to USD 767 million by 2028, at a CAGR of 2.9% from 2023 to 2028.

Furfural, an adaptable chemical compound sourced from agricultural by-products like corncobs and sugarcane bagasse etc., plays a pivotal role in the global market. Its diverse applications in pharmaceuticals, agriculture, and various chemical processes underscore its significance. The furfural market, a holistic ecosystem encompassing production to end-use, is shaped by diverse factors. An essential driver is the escalating demand for sustainable alternatives, propelling market progression. Overcoming limitations related to low productivity and feedstock concentration presents a hurdle. In the broader spectrum of bio-based chemicals, the furfural market signifies a collective leap towards greener and more sustainable industrial practices. Moreover, the textile industry emerges as an additional opportunity, showcasing furfural's potential applications in this sector.

By Raw Material, corncob segment dominated the market in 2022.

The corncob stands out as the principal raw material segment within the furfural market, given its widespread utilization in furfural production. This prevalence is primarily attributed to the substantial presence of xylose and pentosan in corncob, essential components that undergo a pivotal conversion process to yield furfural during synthesis. The abundant content of xylose and pentosan not only positions corncob as the preferred raw material but also emphasizes its integral role in shaping the overall production dynamics and availability of furfural in the market.

By Application, derivatives segment to account for the highest CAGR during the forecast period

Anticipated as the fastest-growing segment in the forecast period, the derivatives application within the furfural market is set to undergo substantial expansion. This accelerated growth is attributed to the robust demand emanating from diverse end-use industries. Furfuryl Alcohol (FA) takes center stage as the major derivative, constituting a significant share of the global furfural production. The heightened demand for furfuryl alcohol is indicative of its widespread utilization across various sectors, underlining its importance as a key driver for the overall growth and prominence of the derivatives application within the furfural market.

By End Use Industry, Agriculture segment to account for the highest CAGR during the forecast period

Agriculture has emerged as the fastest-growing end-use industry in the furfural market, driven by its multifaceted applications and the ever-evolving needs of the agricultural sector. Furfural, a versatile chemical compound, finds extensive use in the synthesis of agrochemicals and pesticides, contributing significantly to crop protection and enhanced yield. The growing global emphasis on sustainable and eco-friendly agricultural practices has propelled the demand for furfural-based products, particularly in the development of bio-based pesticides and fertilizers. As the agricultural industry increasingly seeks innovative solutions to address productivity challenges, furfural's diverse applications position it at the forefront of growth, making agriculture the fastest-growing end-use industry within the furfural market.

APAC to be the biggest region in the Furfural market.

In 2022, the Asia-Pacific (APAC) region emerged as the frontrunner in the global furfural market, with China playing a pivotal role as the primary driver of growth. China, boasting the majority share of both global production and consumption of furfural, significantly influenced the market dynamics. The surge in demand within the region was particularly fuelled by the expanding foundry and pharmaceutical industries in China. The robust growth in these sectors, marked by increasing production activities, contributed substantially to the heightened demand for furfural. Notably, beyond China, Thailand has also made significant strides, positioning itself as the major producer and exporter of furfural in the APAC region.


  • By Company: Tier1: 40%, Tier 2: 25%, Tier3: 4: 35%

  • By Designation: C-Level: 35%, Director Level: 30%, Others: 35%

  • By Region: North America: 25%, Europe: 20%, Asia Pacific: 45%, South America: 5%, and Middle East & Africa: 5%.


Companies Covered: Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation Limited (China), KRBL Limited (India), Lenzing AG(Austria), and Merck KGaA (Germany), and others are covered in the furfural market.

Research Coverage

The market study covers the furfural market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on raw material, applications, End-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the furfural market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall furfural market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.

The report provides insights on the following pointers:


  • Analysis of key drivers (Shift toward renewable chemicals & growing demand for furfuryl alcohol), restraints (Availability of crude oil-based alternatives), opportunities (Emerging demand from textile and fashion industry) and challenges (raw material price fluctuations) influencing the growth of the furfural market.

  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the furfural market

  • Market Development: Comprehensive information about lucrative markets – the report analyses the furfural market across varied regions

  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the furfural market

  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation Limited (China), KRBL Limited (India), Lenzing AG(Austria), and Merck KGaA (Germany), and among others in the furfural market. The report also helps stakeholders understand the pulse of the furfural market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Furfural Market by Raw Material (Sugarcane Bagasse, Corncob, Rice Husk), Application (Derivatives, Solvents), End-Use Industry (Agriculture, Paint & Coatings, Pharmaceuticals, Food & Beverages, Refineries), and Region - Global Forecast to 2028

Table Of Contents

1 Introduction 35
1.1 Study Objectives 35
1.2 Market Definition 35
1.3 Market Scope 36
1.3.1 Markets Covered 36
Figure 1 Furfural Market Segmentation 36
1.3.2 Years Considered 36
1.3.3 Regional Scope 37
1.4 Inclusions And Exclusions 37
Table 1 Inclusions And Exclusions 37
1.5 Currency Considered 38
1.6 Unit Considered 38
1.7 Stakeholders 38
1.8 Limitations 38
1.9 Summary Of Changes 39

2 Research Methodology 40
2.1 Research Data 40
Figure 2 Furfural Market: Research Design 40
2.1.1 Secondary Data 41
2.1.1.1 Key Data From Secondary Sources 41
2.1.2 Primary Data 41
2.1.2.1 Key Data From Primary Sources 42
2.1.2.2 Key Industry Insights 42
2.1.2.3 Breakdown Of Primary Interviews 43
2.2 Market Size Estimation 43
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach 44
Figure 4 Market Size Estimation Methodology: Top-Down Approach 44
2.3 Data Triangulation 45
Figure 5 Furfural Market: Data Triangulation 45
2.4 Recession Impact 46
2.5 Research Assumptions 46
2.6 Research Limitations 47

3 Executive Summary 48
Figure 6 Corncob Segment To Lead Furfural Market During Forecast Period 48
Figure 7 Derivatives Segment To Dominate Furfural Market 49
Figure 8 Agriculture To Be Largest End-Use Industry In Furfural Market 49
Figure 9 Asia Pacific Dominated Furfural Market In 2022 50

4 Premium Insights 51
4.1 Attractive Opportunities For Players In Furfural Market 51
Figure 10 Asian Economies To Witness Relatively Higher Growth Rate For Furfural Market 51
4.2 Asia Pacific: Furfural Market, By End-Use Industry And Country, 2022 52
Figure 11 China Accounted For Largest Share In Terms Of Volume 52
4.3 Furfural Market, By Country 52
Figure 12 Furfural Market In China To Grow At Highest Cagr 52

5 Market Overview 53
5.1 Introduction 53
5.2 Market Dynamics 53
Figure 13 Drivers, Restraints, Opportunities, And Challenges In Furfural Market 53
5.2.1 Drivers 54
5.2.1.1 Growing Demand For Furfuryl Alcohol 54
5.2.1.2 Increase In Utilization Of Furfural In Agrochemicals And Horticulture 54
5.2.1.3 Shift Toward Renewable Chemicals 54
Table 2 Top 30 Chemicals That Can Be Obtained From Biomass 54
5.2.2 Restraints 55
5.2.2.1 Availability Of Crude Oil-Based Alternatives 55
5.2.2.2 Lack Of Technological Advancement And Production Process Framework 55
5.2.3 Opportunities 55
5.2.3.1 Emerging Demand From Textile And Fashion Industries 55
5.2.4 Challenges 55
5.2.4.1 Fluctuations In Raw Material Prices 55
5.2.4.2 Low Yield Of Furfural From Traditional Technology 56
5.3 Trends & Disruptions Impacting Customer’s Business 56
Figure 14 Revenue Shift For Furfural Manufacturers 57
5.4 Pricing Analysis 57
Figure 15 Average Selling Price Trend Of Key Players, By Top 3 End-Use Industries 58
Table 3 Average Price Trend Of Key Players, By Top 3 End-Use Industries (Usd/Kg), 2022 58
Figure 16 Average Selling Price Trend, By Region (Usd/Kg) 59
Table 4 Average Price Trend, By Region (Usd/Kg) 59
5.5 Value Chain Analysis 59
Figure 17 Value Chain Analysis Of Furfural Market 60
5.6 Ecosystem/Market Map 61
Figure 18 Furfural Market: Ecosystem Mapping 61
Table 5 Ecosystem Of Furfural Market 62
5.7 Technology Analysis 63
5.7.1 Supra Yield Technology 63
5.7.2 Furfural-Based Bioplastics 63
5.7.3 Furfural’s Catalytic Transformation Into Value-Added Chemicals 64
5.7.4 Furfural In Coatings 64
5.8 Patent Analysis 64
5.8.1 Introduction 64
5.8.2 Methodology 64
5.8.3 Furfural Market, Patent Analysis (2013–2022) 65
Figure 19 List Of Major Patents For Furfural Market (2013–2022) 65
Table 6 List Of Patents For Furfural 66
5.9 Trade Analysis 70
Figure 20 Export Scenario, Hs Code 293212 Encompassing Furfural Or 2-Furaldehyde "Furfuraldehyde" (Usd Million) 70
Figure 21 Import Scenario, Hs Code 293212 Encompassing Furfural Or 2-Furaldehyde "Furfuraldehyde" (Usd Million) 71
5.10 Key Conferences And Events In 2023–2024 71
Table 7 Furfural Market: Detailed List Of Conferences & Events, 2023–2024 71
5.11 Tariff And Regulatory Landscape 72
5.11.1 Regulatory Bodies, Government Agencies, And Other Organizations 72
Table 8 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations 72
Table 9 Europe: List Of Regulatory Bodies, Government Agencies, And Other Organizations 73
5.11.2 Average Tariff Rates 74
Table 10 Tariff Related To Furfural 74
5.11.3 Environmental Standard (China) 75
5.11.4 Regulation (Ec) No 1272/2008 75
5.11.5 Regulation (Ec) No 1907/2006 75
5.12 Porter’s Five Forces Analysis 75
Figure 22 Furfural Market: Porter’s Five Forces Analysis 76
5.12.1 Bargaining Power Of Suppliers 76
5.12.2 Threat Of New Entrants 76
5.12.3 Threat Of Substitutes 77
5.12.4 Bargaining Power Of Buyers 77
5.12.5 Intensity Of Competitive Rivalry 77
5.13 Key Stakeholders And Buying Criteria 78
5.13.1 Key Stakeholders In Buying Process 78
Figure 23 Influence Of Stakeholders On Buying Process 78
Table 11 Influence Of Stakeholders On Buying Process 78
5.13.2 Buying Criteria 79
Figure 24 Key Buying Criteria 79
Table 12 Key Buying Criteria For Furfural Market 79
5.14 Case Study Analysis 80
5.14.1 Use Of Pd-Pdo/Znso4 Catalyst In Furfural Manufacturing 80
5.14.2 Conversion Of Furfural Into Bio-Chemicals Through Bio-Catalysis 80
5.15 Macroeconomic Indicators 81
5.15.1 Introduction 81
5.15.2 Gdp Trends And Forecasts 81
Table 13 World Gdp Growth Projection, 2021–2028 (Usd Trillion) 81
5.15.3 Trends And Forecast Of Oil Industry And Its Impact On Furfural Market 82
Figure 25 Global Oil Production, 2017–2021 82

6 Furfural Market, By Catalyst 83
6.1 Introduction 83
6.2 Solid Acid Type Catalysts 83
6.3 Liquid Acid Type Catalysts 83

7 Furfural Market, By Process 84
7.1 Introduction 84
7.2 Quaker Batch Process 84
7.3 Chinese Batch Process 84

8 Furfural Market, By Raw Material 85
8.1 Introduction 86
Table 14 Furfural Yield From Different Types Of Raw Materials 86
Figure 26 Corncob Segment To Dominate Furfural Market During Forecast Period 86
Table 15 Furfural Market, By Raw Material, 2017–2020 (Ton) 87
Table 16 Furfural Market, By Raw Material, 2017–2020 (Usd Thousand) 87
Table 17 Furfural Market, By Raw Material, 2021–2028 (Ton) 87
Table 18 Furfural Market, By Raw Material, 2021–2028 (Usd Thousand) 88
8.2 Corncob 88
8.2.1 Highest Hemicellulose Content Of All Raw Materials For Furfural 88
8.3 Sugarcane Bagasse (Scb) 88
8.3.1 Sustainable Sugar Industry By-Product 88
8.4 Rice Husk 89
8.4.1 Lowest Content Of Hemicellulose 89
8.5 Other Raw Materials 89

9 Furfural Market, By Application 90
9.1 Introduction 91
Figure 27 Derivatives Segment To Lead Market During Forecast Period 91
Table 19 Furfural Market, By Application, 2017–2020 (Ton) 91
Table 20 Furfural Market, By Application, 2017–2020 (Usd Thousand) 92
Table 21 Furfural Market, By Application, 2021–2028 (Ton) 92
Table 22 Furfural Market, By Derivative Application, 2021–2028 (Ton) 92
Table 23 Furfural Market, By Application, 2021–2028 (Usd Thousand) 92
Table 24 Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 93
9.2 Derivatives 93
9.2.1 High Demand In Furfuryl Alcohol Manufacturing To Drive Market 93
9.3 Solvent 93
9.3.1 Non-Toxicity Makes Furfural Suitable Alternative To Phenols 93
9.4 Other Applications 93

10 Furfural Market, By End-Use Industry 94
10.1 Introduction 95
Figure 28 Agriculture To Be Largest Application Of Furfural During Forecast Period 95
Table 25 Furfural Market, By End-Use Industry, 2017–2020 (Ton) 95
Table 26 Furfural Market, By End-Use Industry, 2017–2020 (Usd Thousand) 96
Table 27 Furfural Market, By End-Use Industry, 2021–2028 (Ton) 96
Table 28 Furfural Market, By End-Use Industry, 2021–2028 (Usd Thousand) 96
10.2 Agriculture 97
10.2.1 Growing Demand For Bio-Based Pesticides And Herbicides To Drive Market 97
10.3 Paint & Coatings 97
10.3.1 Increasing Demand For High-Performance Coatings To Drive Market 97
10.4 Pharmaceuticals 97
10.4.1 Advancement In Applications In Pharmaceutical Industry To Drive Market 97
10.5 Food & Beverages 98
10.5.1 Growing Demand For Natural Flavors To Drive Market 98
10.6 Refineries 98
10.6.1 Expanding Applications In Solvent Extraction To Drive Market 98
10.7 Other End-Use Industries 98

11 Furfural Market, By Region 99
11.1 Introduction 100
Figure 29 China To Record Fastest Growth During Forecast Period 100
Figure 30 Asia Pacific Market To Record Fastest-Growth During Forecast Period 101
Table 29 Furfural Market, By Region, 2021–2028 (Ton) 101
Table 30 Furfural Market, By Region, 2021–2028 (Usd Thousand) 102
11.2 Asia Pacific 102
11.2.1 Recession Impact 102
Figure 31 Asia Pacific: Furfural Market Snapshot 103
Table 31 Asia Pacific: Furfural Market, By Country, 2021–2028 (Ton) 103
Table 32 Asia Pacific: Furfural Market, By Country, 2021–2028 (Usd Thousand) 104
Table 33 Asia Pacific: Furfural Market, By Application, 2017–2020 (Ton) 104
Table 34 Asia Pacific: Furfural Market, By Application, 2017–2020 (Usd Thousand) 104
Table 35 Asia Pacific: Furfural Market, By Application, 2021–2028 (Ton) 104
Table 36 Asia Pacific: Furfural Market, By Derivative Application, 2021–2028 (Ton) 105
Table 37 Asia Pacific: Furfural Market, By Application, 2021–2028 (Usd Thousand) 105
Table 38 Asia Pacific: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 105
Table 39 Asia Pacific: Furfural Market, By Raw Material, 2017–2020 (Ton) 105
Table 40 Asia Pacific: Furfural Market, By Raw Material, 2017–2020 (Usd Thousand) 106
Table 41 Asia Pacific: Furfural Market, By Raw Material, 2021–2028 (Ton) 106
Table 42 Asia Pacific: Furfural Market, By Raw Material, 2021–2028 (Usd Thousand) 106
Table 43 Asia Pacific: Furfural Market, By End-Use Industry, 2017–2020 (Ton) 107
Table 44 Asia Pacific: Furfural Market, By End-Use Industry, 2017–2020 (Usd Thousand) 107
Table 45 Asia Pacific: Furfural Market, By End-Use Industry, 2021–2028 (Ton) 107
Table 46 Asia Pacific: Furfural Market, By End-Use Industry, 2021–2028 (Usd Thousand) 108
11.2.2 China 108
11.2.2.1 Largest Producer Of Furfural In World 108
Table 47 China: Furfural Market, By Application, 2017–2020 (Ton) 108
Table 48 China: Furfural Market, By Application, 2017–2020 (Usd Thousand) 109
Table 49 China: Furfural Market, By Application, 2021–2028 (Ton) 109
Table 50 China: Furfural Market, By Derivative Application, 2021–2028 (Ton) 109
Table 51 China: Furfural Market Size, By Application, 2021–2028 (Usd Thousand) 109
Table 52 China: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 110
11.2.3 India 110
11.2.3.1 Pharmaceutical Industry To Be Major Driver Of Market 110
Table 53 India: Furfural Market, By Application, 2017–2020 (Ton) 110
Table 54 India: Furfural Market Size, By Application, 2017–2020 (Usd Thousand) 111
Table 55 India: Furfural Market, By Application, 2021–2028 (Ton) 111
Table 56 India: Furfural Market, By Derivative Application, 2021–2028 (Ton) 111
Table 57 India: Furfural Market, By Application, 2021–2028 (Usd Thousand) 111
Table 58 India: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 112
11.2.4 Japan 112
11.2.4.1 Growing Investment In Chemical And Pharmaceutical Industries 112
Table 59 Japan: Furfural Market, By Application, 2017–2020 (Ton) 112
Table 60 Japan: Furfural Market, By Application, 2017–2020 (Usd Thousand) 112
Table 61 Japan: Furfural Market Size, By Application, 2021–2028 (Ton) 113
Table 62 Japan: Furfural Market, By Derivative Application, 2021–2028 (Ton) 113
Table 63 Japan: Furfural Market, By Application, 2021–2028 (Usd Thousand) 113
Table 64 Japan: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 113
11.2.5 Thailand 114
11.2.5.1 Market To Be Driven By Rising Sportswear Industry 114
Table 65 Thailand: Furfural Market, By Application, 2017–2020 (Ton) 114
Table 66 Thailand: Furfural Market, By Application, 2017–2020 (Usd Thousand) 114
Table 67 Thailand: Furfural Market, By Application, 2021–2028 (Ton) 114
Table 68 Thailand: Furfural Market, By Derivative Application, 2021–2028 (Ton) 115
Table 69 Thailand: Furfural Market, By Application, 2021–2028 (Usd Thousand) 115
Table 70 Thailand: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 115
11.2.6 Rest Of Asia Pacific 115
Table 71 Rest Of Asia Pacific: Furfural Market, By Application, 2017–2020 (Ton) 116
Table 72 Rest Of Asia Pacific: Furfural Market, By Application, 2017–2020 (Usd Thousand) 116
Table 73 Rest Of Asia Pacific: Furfural Market, By Application, 2021–2028 (Ton) 116
Table 74 Rest Of Asia Pacific: Furfural Market, By Derivative Application, 2021–2028 (Ton) 116
Table 75 Rest Of Asia Pacific: Furfural Market, By Application, 2021–2028 (Usd Thousand) 117
Table 76 Rest Of Asia Pacific: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 117
11.3 Europe 117
11.3.1 Recession Impact 118
Figure 32 Europe: Furfural Market Snapshot 119
Table 77 Europe: Furfural Market, By Country, 2021–2028 (Ton) 120
Table 78 Europe: Furfural Market, By Country, 2021–2028 (Usd Thousand) 120
Table 79 Europe: Furfural Market, By Application, 2017–2020 (Ton) 120
Table 80 Europe: Furfural Market, By Application, 2017–2020 (Usd Thousand) 121
Table 81 Europe: Furfural Market, By Application, 2021–2028 (Ton) 121
Table 82 Europe: Furfural Market, By Derivative Application, 2021–2028 (Ton) 121
Table 83 Europe: Furfural Market, By Application, 2021–2028 (Usd Thousand) 121
Table 84 Europe: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 122
Table 85 Europe: Furfural Market, By Raw Material, 2017–2020 (Ton) 122
Table 86 Europe: Furfural Market, By Raw Material, 2017–2020 (Usd Thousand) 122
Table 87 Europe: Furfural Market, By Raw Material, 2021–2028 (Ton) 123
Table 88 Europe: Furfural Market, By Raw Material, 2021–2028 (Usd Thousand) 123
Table 89 Europe: Furfural Market, By End-Use Industry, 2017–2020 (Ton) 123
Table 90 Europe: Furfural Market, By End-Use Industry, 2017–2020 (Usd Thousand) 124
Table 91 Europe: Furfural Market, By End-Use Industry, 2021–2028 (Ton) 124
Table 92 Europe: Furfural Market, By End-Use Industry, 2021–2028 (Usd Thousand) 124
11.3.2 Germany 125
11.3.2.1 Investments In Chemical & Petrochemical Industry To Drive Market 125
Table 93 Germany: Furfural Market, By Application, 2017–2020 (Ton) 125
Table 94 Germany: Furfural Market, By Application, 2017–2020 (Usd Thousand) 126
Table 95 Germany: Furfural Market, By Application, 2021–2028 (Ton) 126
Table 96 Germany: Furfural Market, By Derivative Application, 2021–2028 (Ton) 126
Table 97 Germany: Furfural Market, By Application, 2021–2028 (Usd Thousand) 126
Table 98 Germany: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 127
11.3.3 France 127
11.3.3.1 Strong Base Of Plastic Industries To Create Growth Opportunities 127
Table 99 France: Furfural Market, By Application, 2017–2020 (Ton) 127
Table 100 France: Furfural Market, By Application, 2017–2020 (Usd Thousand) 128
Table 101 France: Furfural Market, By Application, 2021–2028 (Ton) 128
Table 102 France: Furfural Market, By Derivative Application, 2021–2028 (Ton) 128
Table 103 France: Furfural Market, By Application, 2021–2028 (Usd Thousand) 128
Table 104 France: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 129
11.3.4 Italy 129
11.3.4.1 Intensive Horticulture Activities To Drive Market 129
Table 105 Italy: Furfural Market, By Application, 2017–2020 (Ton) 129
Table 106 Italy: Furfural Market, By Application, 2017–2020 (Usd Thousand) 129
Table 107 Italy: Furfural Market, By Application, 2021–2028 (Ton) 130
Table 108 Italy: Furfural Market, By Derivative Application, 2021–2028 (Ton) 130
Table 109 Italy: Furfural Market, By Application, 2021–2028 (Usd Thousand) 130
Table 110 Italy: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 130
11.3.5 Uk 131
11.3.5.1 Increasing Focus On Bioenergy To Drive Market 131
Table 111 Uk: Furfural Market, By Application, 2017–2020 (Ton) 131
Table 112 Uk: Furfural Market, By Application, 2017–2020 (Usd Thousand) 131
Table 113 Uk: Furfural Market, By Application, 2021–2028 (Ton) 131
Table 114 Uk: Furfural Market, By Derivative Application, 2021–2028 (Ton) 132
Table 115 Uk: Furfural Market, By Application, 2021–2028 (Usd Thousand) 132
Table 116 Uk: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 132
11.3.6 Belgium 132
11.3.6.1 Presence Of One Of Largest Furfuryl Alcohol Plants Makes Country Major Market 132
Table 117 Belgium: Furfural Market, By Application, 2017–2020 (Ton) 133
Table 118 Belgium: Furfural Market, By Application, 2017–2020 (Usd Thousand) 133
Table 119 Belgium: Furfural Market Size, By Application, 2021–2028 (Ton) 133
Table 120 Belgium: Furfural Market, By Derivative Application, 2021–2028 (Ton) 133
Table 121 Belgium: Furfural Market, By Application, 2021–2028 (Usd Thousand) 134
Table 122 Belgium: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 134
11.3.7 Netherlands 134
11.3.7.1 Presence Of Major Food & Beverage Companies To Support Market Growth 134
Table 123 Netherlands: Furfural Market, By Application, 2017–2020 (Ton) 134
Table 124 Netherlands: Furfural Market, By Application, 2017–2020 (Usd Thousand) 135
Table 125 Netherlands: Furfural Market, By Application, 2021–2028 (Ton) 135
Table 126 Netherlands: Furfural Market, By Derivative Application, 2021–2028 (Ton) 135
Table 127 Netherlands: Furfural Market, By Application, 2021–2028 (Usd Thousand) 135
Table 128 Netherlands: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 136
11.3.8 Rest Of Europe 136
Table 129 Rest Of Europe: Furfural Market, By Application, 2017–2020 (Ton) 136
Table 130 Rest Of Europe: Furfural Market, By Application, 2017–2020 (Usd Thousand) 137
Table 131 Rest Of Europe: Furfural Market, By Application, 2021–2028 (Ton) 137
Table 132 Rest Of Europe: Furfural Market, By Derivative Application, 2021–2028 (Ton) 137
Table 133 Rest Of Europe: Furfural Market, By Application, 2021–2028 (Usd Thousand) 137
Table 134 Rest Of Europe: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 138
11.4 North America 138
11.4.1 Recession Impact 138
Table 135 North America: Furfural Market, By Country, 2021–2028 (Ton) 138
Table 136 North America: Furfural Market, By Country, 2021–2028 (Usd Thousand) 138
Table 137 North America: Furfural Market, By Application, 2017–2020 (Ton) 139
Table 138 North America: Furfural Market, By Application, 2017–2020 (Usd Thousand) 139
Table 139 North America: Furfural Market, By Application, 2021–2028 (Ton) 139
Table 140 North America: Furfural Market, By Derivative Application, 2021–2028 (Ton) 139
Table 141 North America: Furfural Market, By Application, 2021–2028 (Usd Thousand) 140
Table 142 North America: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 140
Table 143 North America: Furfural Market, By Raw Material, 2017–2020 (Ton) 140
Table 144 North America: Furfural Market, By Raw Material, 2017–2020 (Usd Thousand) 140
Table 145 North America: Furfural Market, By Raw Material, 2021–2028 (Ton) 141
Table 146 North America: Furfural Market, By Raw Material, 2021–2028 (Usd Thousand) 141
Table 147 North America: Furfural Market, By End-Use Industry, 2017–2020 (Ton) 141
Table 148 North America: Furfural Market, By End-Use Industry, 2017–2020 (Usd Thousand) 142
Table 149 North America: Furfural Market, By End-Use Industry, 2021–2028 (Ton) 142
Table 150 North America: Furfural Market, By End-Use Industry, 2021–2028 (Usd Thousand) 142
11.4.2 Us 143
11.4.2.1 Growing Sportswear Market To Fuel Demand 143
Table 151 Us: Furfural Market, By Application, 2017–2020 (Ton) 143
Table 152 Us: Furfural Market, By Application, 2017–2020 (Usd Thousand) 143
Table 153 Us: Furfural Market, By Application, 2021–2028 (Ton) 144
Table 154 Us: Furfural Market, By Derivative Application, 2021–2028 (Ton) 144
Table 155 Us: Furfural Market, By Application, 2021–2028 (Usd Thousand) 144
Table 156 Us: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 144
11.4.3 Canada 145
11.4.3.1 Growth In Agrochemical Market To Boost Demand 145
Table 157 Canada: Furfural Market, By Application, 2017–2020 (Ton) 145
Table 158 Canada: Furfural Market, By Application, 2017–2020 (Usd Thousand) 145
Table 159 Canada: Furfural Market, By Application, 2021–2028 (Ton) 145
Table 160 Canada: Furfural Market, By Derivative Application, 2021–2028 (Ton) 146
Table 161 Canada: Furfural Market, By Application, 2021–2028 (Usd Thousand) 146
Table 162 Canada: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 146
11.4.4 Mexico 146
11.4.4.1 Increasing Investments In Pharmaceutical Industry And Growing Food & Beverage Industry 146
Table 163 Mexico: Furfural Market, By Application, 2017–2020 (Ton) 147
Table 164 Mexico: Furfural Market, By Application, 2017–2020 (Usd Thousand) 147
Table 165 Mexico: Furfural Market, By Application, 2021–2028 (Ton) 147
Table 166 Mexico: Furfural Market, By Derivative Application, 2021–2028 (Ton) 147
Table 167 Mexico: Furfural Market, By Application, 2021–2028 (Usd Thousand) 148
Table 168 Mexico: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 148
11.5 Middle East & Africa 148
11.5.1 Recession Impact 148
Table 169 Middle East & Africa: Furfural Market, By Country, 2021–2028 (Ton) 149
Table 170 Middle East & Africa: Furfural Market, By Country, 2021–2028 (Usd Thousand) 149
Table 171 Middle East & Africa: Furfural Market, By Application, 2017–2020 (Ton) 149
Table 172 Middle East & Africa: Furfural Market, By Application, 2017–2020 (Usd Thousand) 150
Table 173 Middle East & Africa: Furfural Market, By Application, 2021–2028 (Ton) 150
Table 174 Middle East & Africa: Furfural Market, By Derivative Application, 2021–2028 (Ton) 150
Table 175 Middle East & Africa: Furfural Market, By Application, 2021–2028 (Usd Thousand) 150
Table 176 Middle East & Africa: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 151
Table 177 Middle East & Africa: Furfural Market, By Raw Material, 2017–2020 (Ton) 151
Table 178 Middle East & Africa: Furfural Market, By Raw Material, 2017–2020 (Usd Thousand) 151
Table 179 Middle East & Africa: Furfural Market, By Raw Material, 2021–2028 (Ton) 151
Table 180 Middle East & Africa: Furfural Market, By Raw Material, 2021–2028 (Usd Thousand) 152
Table 181 Middle East & Africa: Furfural Market, By End-Use Industry, 2017–2020 (Ton) 152
Table 182 Middle East & Africa: Furfural Market, By End-Use Industry, 2017–2020 (Usd Thousand) 152
Table 183 Middle East & Africa: Furfural Market, By End-Use Industry, 2021–2028 (Ton) 153
Table 184 Middle East & Africa: Furfural Market, By End-Use Industry, 2021–2028 (Usd Thousand) 153
11.5.2 Gcc Countries 153
11.5.2.1 Growth In End-Use Industries To Propel Market 153
Table 185 Gcc Countries: Furfural Market, By Application, 2017–2020 (Ton) 154
Table 186 Gcc Countries: Furfural Market, By Application, 2017–2020 (Usd Thousand) 154
Table 187 Gcc Countries: Furfural Market, By Application, 2021–2028 (Ton) 154
Table 188 Gcc Countries: Furfural Market, By Derivative Application, 2021–2028 (Ton) 154
Table 189 Gcc Countries: Furfural Market, By Application, 2021–2028 (Usd Thousand) 155
Table 190 Gcc Countries: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 155
11.5.2.2 Saudi Arabia 155
11.5.2.2.1 Increasing Opportunities In End-Use Industries To Drive Market 155
Table 191 Saudi Arabia: Furfural Market, By Application, 2017–2020 (Ton) 156
Table 192 Saudi Arabia: Furfural Market, By Application, 2017–2020 (Usd Thousand) 156
Table 193 Saudi Arabia: Furfural Market, By Application, 2021–2028 (Ton) 156
Table 194 Saudi Arabia: Furfural Market, By Derivative Application, 2021–2028 (Ton) 156
Table 195 Saudi Arabia: Furfural Market, By Application, 2021–2028 (Usd Thousand) 157
Table 196 Saudi Arabia: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 157
11.5.2.3 Uae 157
11.5.2.3.1 Increasing Demand From Food & Beverage Industry To Drive Market 157
Table 197 Uae: Furfural Market, By Application, 2017–2020 (Ton) 157
Table 198 Uae: Furfural Market, By Application, 2017–2020 (Usd Thousand) 158
Table 199 Uae: Furfural Market, By Application, 2021–2028 (Ton) 158
Table 200 Uae: Furfural Market, By Derivative Application, 2021–2028 (Ton) 158
Table 201 Uae: Furfural Market, By Application, 2021–2028 (Usd Thousand) 158
Table 202 Uae: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 159
11.5.2.4 Rest Of Gcc 159
Table 203 Rest Of Gcc: Furfural Market, By Application, 2017–2020 (Ton) 159
Table 204 Rest Of Gcc: Furfural Market, By Application, 2017–2020 (Usd Thousand) 159
Table 205 Rest Of Gcc: Furfural Market, By Application, 2021–2028 (Ton) 159
Table 206 Rest Of Gcc: Furfural Market, By Derivative Application, 2021–2028 (Ton) 160
Table 207 Rest Of Gcc: Furfural Market, By Application, 2021–2028 (Usd Thousand) 160
Table 208 Rest Of Gcc: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 160
11.5.3 South Africa 160
11.5.3.1 Significant Export Of Furfural To Asia Pacific And European Countries 160
Table 209 South Africa: Furfural Market, By Application, 2017–2020 (Ton) 161
Table 210 South Africa: Furfural Market, By Application, 2017–2020 (Usd Thousand) 161
Table 211 South Africa: Furfural Market, By Application, 2021–2028 (Ton) 161
Table 212 South Africa: Furfural Market, By Derivative Application, 2021–2028 (Ton) 161
Table 213 South Africa: Furfural Market, By Application, 2021–2028 (Usd Thousand) 162
Table 214 South Africa: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 162
11.5.4 Dominican Republic 162
11.5.4.1 Usage Of Furfural In Agriculture And Pharmaceutical Industries To Drive Market 162
Table 215 Dominican Republic: Furfural Market, By Application, 2017–2020 (Ton) 162
Table 216 Dominican Republic: Furfural Market, By Application, 2017–2020 (Usd Thousand) 163
Table 217 Dominican Republic: Furfural Market, By Application, 2021–2028 (Ton) 163
Table 218 Dominican Republic: Furfural Market, By Derivative Application, 2021–2028 (Ton) 163
Table 219 Dominican Republic: Furfural Market, By Application, 2021–2028 (Usd Thousand) 163
Table 220 Dominican Republic: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 164
11.5.5 Rest Of Middle East & Africa 164
Table 221 Rest Of Middle East & Africa: Furfural Market, By Application, 2017–2020 (Ton) 164
Table 222 Rest Of Middle East & Africa: Furfural Market, By Application, 2017–2020 (Usd Thousand) 164
Table 223 Rest Of Middle East & Africa: Furfural Market, By Application, 2021–2028 (Ton) 165
Table 224 Rest Of Middle East & Africa: Furfural Market, By Derivative Application, 2021–2028 (Ton) 165
Table 225 Rest Of Middle East & Africa: Furfural Market, By Application, 2021–2028 (Usd Thousand) 165
Table 226 Rest Of Middle East & Africa: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 165
11.6 South America 166
11.6.1 Recession Impact 166
Table 227 South America: Furfural Market, By Country, 2021–2028 (Ton) 166
Table 228 South America: Furfural Market, By Country, 2021–2028 (Usd Thousand) 167
Table 229 South America: Furfural Market, By Application, 2017–2020 (Ton) 167
Table 230 South America: Furfural Market, By Application, 2017–2020 (Usd Thousand) 167
Table 231 South America: Furfural Market, By Application, 2021–2028 (Ton) 167
Table 232 South America: Furfural Market, By Derivative Application, 2021–2028 (Ton) 168
Table 233 South America: Furfural Market, By Application, 2021–2028 (Usd Thousand) 168
Table 234 South America: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 168
Table 235 South America: Furfural Market, By Raw Material, 2017–2020 (Ton) 168
Table 236 South America: Furfural Market, By Raw Material, 2017–2020 (Usd Thousand) 169
Table 237 South America: Furfural Market, By Raw Material, 2021–2028 (Ton) 169
Table 238 South America: Furfural Market, By Raw Material, 2021–2028 (Usd Thousand) 169
Table 239 South America: Furfural Market, By End-Use Industry, 2017–2020 (Ton) 170
Table 240 South America: Furfural Market, By End-Use Industry, 2017–2020 (Usd Thousand) 170
Table 241 South America: Furfural Market, By End-Use Industry, 2021–2028 (Ton) 170
Table 242 South America: Furfural Market, By End-Use Industry, 2021–2028 (Usd Thousand) 171
11.6.2 Brazil 171
11.6.2.1 Growing Investments Across End-Use Industries 171
Table 243 Brazil: Furfural Market, By Application, 2017–2020 (Ton) 171
Table 244 Brazil: Furfural Market, By Application, 2017–2020 (Usd Thousand) 172
Table 245 Brazil: Furfural Market, By Application, 2021–2028 (Ton) 172
Table 246 Brazil: Furfural Market, By Derivative Application, 2021–2028 (Ton) 172
Table 247 Brazil: Furfural Market, By Application, 2021–2028 (Usd Thousand) 172
Table 248 Brazil: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 173
11.6.3 Argentina 173
11.6.3.1 Increasing Investments In Construction Sector And Growing Chemical Sector 173
Table 249 Argentina: Furfural Market, By Application, 2017–2020 (Ton) 174
Table 250 Argentina: Furfural Market, By Application, 2017–2020 (Usd Thousand) 174
Table 251 Argentina: Furfural Market, By Application, 2021–2028 (Ton) 174
Table 252 Argentina: Furfural Market, By Derivative Application, 2021–2028 (Ton) 174
Table 253 Argentina: Furfural Market, By Application, 2021–2028 (Usd Thousand) 175
Table 254 Argentina: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 175
11.6.4 Rest Of South America 175
Table 255 Rest Of South America: Furfural Market, By Application, 2017–2020 (Ton) 175
Table 256 Rest Of South America: Furfural Market, By Application, 2017–2020 (Usd Thousand) 176
Table 257 Rest Of South America: Furfural Market, By Application, 2021–2028 (Ton) 176
Table 258 Rest Of South America: Furfural Market, By Derivative Application, 2021–2028 (Ton) 176
Table 259 Rest Of South America: Furfural Market, By Application, 2021–2028 (Usd Thousand) 176
Table 260 Rest Of South America: Furfural Market, By Derivative Application, 2021–2028 (Usd Thousand) 177

12 Competitive Landscape 178
12.1 Overview 178
Table 261 Overview Of Strategies Adopted By Key Furfural Players 178
12.2 Revenue Analysis Of Top Market Players 179
Figure 33 Revenue Analysis Of Key Companies In Furfural Market Over Last Five Years 179
12.3 Market Share Analysis 180
Figure 34 Share Of Leading Companies In Furfural Market 180
Table 262 Furfural Market: Degree Of Competition 180
12.4 Company Evaluation Matrix 182
12.4.1 Stars 182
12.4.2 Emerging Leaders 182
12.4.3 Pervasive Players 182
12.4.4 Participants 182
Figure 35 Company Evaluation Matrix, 2022 183
12.5 Company Footprint 184
Figure 36 Furfural Market: Product Footprint (25 Companies) 184
Table 263 Furfural Market: Application Footprint (25 Companies) 185
Table 264 Furfural Market: Regional Footprint (25 Companies) 186
Table 265 Furfural Market: Company Footprint (25 Companies) 187
12.6 Start-Up/Sme Evaluation Matrix 188
12.6.1 Progressive Companies 188
12.6.2 Responsive Companies 188
12.6.3 Dynamic Companies 188
12.6.4 Starting Blocks 188
Figure 37 Start-Up/Sme Evaluation Matrix 189
12.7 Competitive Benchmarking 190
Table 266 Furfural Market: Detailed List Of Key Start-Ups/Smes 190
Table 267 Furfural Market: Competitive Benchmarking Of Key Players 191
12.8 Competitive Situations And Trends 192
12.8.1 Deals 192
Table 268 Deals, 2019–2023 192
12.8.2 Others 193
Table 269 Others, 2019–2023 193

13 Company Profiles 194
(Business Overview, Products Offered, Recent Developments, Mnm View Right To Win, Strategic Choices Made, Weaknesses And Competitive Threats) *
13.1 Key Players 194
13.1.1 Central Romana Corporation 194
Table 270 Central Romana Corporation: Company Overview 194
13.1.2 Lenzing Ag 197
Table 271 Lenzing Ag: Company Overview 197
Figure 38 Lenzing Ag: Company Snapshot 197
Table 272 Lenzing Ag: Others 198
13.1.3 Pennakem, Llc 200
Table 273 Pennakem, Llc: Company Overview 200
Table 274 Pennakem, Llc: Deals 201
Table 275 Pennakem, Llc: Others 202
13.1.4 Merck Kgaa 203
Table 276 Merck Kgaa: Company Overview 203
Figure 39 Merck Kgaa: Company Snapshot 204
13.1.5 Krbl Limited 206
Table 277 Krbl Limited: Company Overview 206
Figure 40 Krbl Limited: Company Snapshot 207
13.1.6 Illovo Sugar (South Africa) (Pty) Ltd 209
Table 278 Illovo Sugar (South Africa) (Pty) Ltd: Company Overview 209
Table 279 Illovo Sugar (South Africa) (Pty) Ltd: Others 210
13.1.7 Silvateam 211
Table 280 Silvateam: Company Overview 211
13.1.8 Hongye Holding Group Corporation Limited 213
Table 281 Hongye Holding Group Corporation Limited: Company Overview 213
13.1.9 Kanto Chemical Co., Inc. 215
Table 282 Kanto Chemical Co., Inc.: Company Overview 215
13.1.10 Tanin 216
Table 283 Tanin: Company Overview 216
13.2 Other Players 217
13.2.1 Laxmi Furals Pvt Ltd 217
Table 284 Laxmi Furals Pvt Ltd: Company Overview 217
13.2.2 Hefei Tnj Chemical Industry Co., Ltd. 218
Table 285 Hefei Tnj Chemical Industry Co., Ltd.: Company Overview 218
13.2.3 Furnova Polymers Ltd 219
Table 286 Furnova Polymers Ltd: Company Overview 219
13.2.4 Tokyo Chemical Industry Co., Ltd. (Tci) 220
Table 287 Tokyo Chemical Industry Co., Ltd. (Tci): Company Overview 220
13.2.5 Shandong Xinhua Pharma 221
Table 288 Shandong Xinhua Pharma: Company Overview 221
13.2.6 Junsei Chemical Co., Ltd. 222
Table 289 Junsei Chemical Co., Ltd.: Company Overview 222
13.2.7 A. B. Enterprises 223
Table 290 A. B. Enterprises: Company Overview 223
13.2.8 Shandong Yino Biologic Materials Co., Ltd. 224
Table 291 Shandong Yino Biologic Materials Co., Ltd.: Company Overview 224
13.2.9 Rx Chemicals 225
Table 292 Rx Chemicals: Company Overview 225
13.2.10 Kunshan Odowell Co., Ltd. 226
Table 293 Kunshan Odowell Co., Ltd.: Company Overview 226
13.2.11 Central Drug House (P) Ltd. 227
Table 294 Central Drug House (P) Ltd.: Company Overview 227
13.2.12 Aecochem 228
Table 295 Aecochem: Company Overview 228
13.2.13 Beijing Lys Chemicals Co., Ltd. 229
Table 296 Beijing Lys Chemicals Co., Ltd.: Company Overview 229
13.2.14 Zhucheng Taisheng Chemical Co., Ltd. 230
Table 297 Zhucheng Taisheng Chemical Co., Ltd.: Company Overview 230
13.2.15 Xingtai Chunlei Furfuryl Alcohol Co., Ltd. 231
Table 298 Xingtai Chunlei Furfuryl Alcohol Co., Ltd. Nc.: Company Overview 231
*Details On Business Overview, Products Offered, Recent Developments, Mnm View, Right To Win, Strategic Choices Made, Weaknesses And Competitive Threats Might Not Be Captured In Case Of Unlisted Companies.

14 Adjacent & Related Market 232
14.1 Introduction 232
14.2 Tetrahydrofuran (Thf) Market 232
14.2.1 Market Definition 232
14.2.2 Market Overview 232
14.3 Tetrahydrofuran Marekt, By Process Technology 233
Table 299 Thf Market, By Process Technology, 2015–2022 (Kiloton) 233
Table 300 Thf Market, By Process Technology, 2015–2022 (Usd Million) 233

14.4 Tetrahydrofuran Marekt, By Application 233
Table 301 Thf Market, By Application, 2015–2022 (Kiloton) 233
Table 302 Thf Market, By Application, 2015–2022 (Usd Million) 234
14.5 Tetrahydrofuran Market, By Region 234
Table 303 Thf Market, By Region, 2015–2022 (Kiloton) 234
Table 304 Thf Market, By Region, 2015–2022 (Usd Million) 234

15 Appendix 235
15.1 Discussion Guide 235
15.2 Knowledgestore: Marketsandmarkets’ Subscription Portal 239
15.3 Customization Options 241
15.4 Related Reports 241
15.5 Author Details 242

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