The global Furfuryl Alcohol market size is expected to be worth around US$ 921.6 million by 2030, according to a new report by Vision Research Reports.
The global Furfuryl Alcohol market size was valued at US$ 480.7 million in 2020 and is anticipated to grow at a CAGR of 8.2% during forecast period 2021 to 2030.
|Market Size||US$ 921.6 million by 2030|
|Growth Rate||CAGR of 8.2% From 2021 to 2030|
|Largest Market||North America|
|Forecast Period||2021 to 2030|
|Segments Covered||Application, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||ILLOVO SUGAR AFRICA (PTY) LTD.; Linzi Organic Chemical Inc. Ltd.; TransFurans Chemicals bvba; DalinYebo; Hebeichem; SilvateamS.p.a.; Shandong Crownchem Industries Co., Ltd.; Hongye Holdings Group Corp., Ltd.; Xian Welldon Trading Co., Ltd.; Furnova Polymers Ltd.; NC Nature Chemicals|
Factors such as rising demand for furfuryl alcohol resins from the construction and automotive sectors are expected to drive the market in the near future. Asia Pacific is the largest producer as well as consumer of furfuryl alcohol due to increasing concerns regarding renewable products and growing population resulting in high demand for consumer products. The majority of the furfural manufactured in China, more than 85%, is utilized in the production of furfuryl alcohol.
The product has witnessed high demand over the past decade, owing to its growing usage in the foundry, agriculture, and construction industries, among others. The product is broadly utilized in resins and plastics applications. A surge in research and development activities in the area of rocket fuel is estimated to trigger the demand. The products also play an essential role in manufacturing in the foundry sector in the formulation of molds for metal casting.
By Application Analysis
The resins application segment dominated the market for furfuryl alcohol and accounted for the largest revenue share of more than 87.0% in 2020. This is attributed to the growing demand for furfuryl alcohol resins from the construction and automotive sectors.
Furfuryl alcohol is used as a solvent in petrochemical refining, chemical feedstock for 5-membered oxygen heterocycles, and for refining lubricating oils. In chemical feedstock for 5-membered oxygen heterocycles, it is used in the formulation of tetrahydrofuran, which is an essential industrial solvent.
Furfuryl alcohol is predominantly used in resinous mortars for joining corrosion-inhibitant bricks or tiles in the fabrication of storage tanks, reactors, floors, and fume stacks. It is used for corrosion-resistant mortars and cement and erosion-resilient fiber-reinforced plastics.
By End-use Analysis
The foundry end-use segment dominated the market for furfuryl alcohol and accounted for the largest revenue share of more than 82.0% in 2020. This is attributed to the surge in metal casting production.
It is used in agricultural applications, especially in pesticide formulations, as a cosolvent for active ingredients such as gibberellic acid, mefenoxam, and propiconazole. It is also used as an adjuvant to support herbicides penetrating the leaf structure.
The product is used in anti-corrosive paint applications and as a solvent in alkaline paint strippers. It is also used in the formulation of cleaning compounds and paint thinners. It is compatible with high-temperature applications, stable in highly basic formulations, and is water-miscible.
By Regional Analysis
Asia Pacific dominated the market for furfuryl alcohol and accounted for the largest revenue share of more than 68.0% in 2020. This is attributed to the rising utilization of the product as a flavoring ingredient in various food products, including baked goods, beverages, candies, frozen dairy, gravies, meat products, and puddings.
Germany is one of the prominent contributors to the European food and beverage sector. About one-third of the food and beverage products manufactured in the country is exported. Consumers have contributed toward making Germany the largest retail sector for F&B in Europe.
ILLOVO SUGAR AFRICA (PTY) LTD.
Linzi Organic Chemical Inc. Ltd.
TransFurans Chemicals bvba
Shandong Crownchem Industries Co., Ltd.
Hongye Holdings Group Corp., Ltd.
Xian Welldon Trading Co., Ltd.
Furnova Polymers Ltd.
NC Nature Chemicals
Paints & Coatings
Food & Beverages
Central & South America
Middle East & Africa
The Furfuryl Alcohol market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Furfuryl Alcohol market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Furfuryl Alcohol market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Furfuryl Alcohol market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Furfuryl Alcohol market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Furfuryl Alcohol capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Furfuryl Alcohol by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Furfuryl Alcohol market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Furfuryl Alcohol market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Furfuryl Alcohol market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Furfuryl Alcohol industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Furfuryl Alcohol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Furfuryl Alcohol market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Furfuryl Alcohol market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Furfuryl Alcohol market. These factors have benefited the growth of the global market for Furfuryl Alcohol. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Furfuryl Alcohol. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Furfuryl Alcohol are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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