24/7 Customer Support

Furfural Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Furfural Market: By Raw Material (Sugarcane Bagasse, Corncob, Rice Husk and Others); Application (Furfuryl Alcohol, Solvent, Resins, Gasoline Additives, and Others); End User (Petroleum Refineries, Agricultural Formulations, Pharmaceuticals, Paints & Coatings, and Others); and Region—Industry Dynamics, Market Size and Opportunity Forecast Until 2031

  • Published On: 08-Mar-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0322166
    Delivery: 2 to 4 Hours
Furfural Market

View Full Infographic


Report AttributeDetails
Market Size Value in 2022US$ 508.4 Mn
Expected Revenue in 2031US$ 981.23 Mn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
Segments coveredBy Raw Material, By Application, By End User, By Region
Key Companies                                                                                                Shandong Zibo Baofeng I&E Co.,Ltd., Zhongkang Furfural Co., Ltd., Shanghai Huiyingtong International Trading Co.,Ltd., Arcoy Industries Pvt. Ltd, Hongye Holding Group Corporation Limited, Hebeichem, International Furan Chemicals B.V., KRBL, Lenzing AG, NC-Nature Chemicals Dr. Kruppa GmbH, Pennakem, Silvateam S.p.a., Transfuran Chemicals, Tieling North Furfural (Group) Co. Ltd., Zhucheng Taisheng Chemical Co., Ltd., Zibo Xinye Chemical Co., Ltd., Other Prominent Players
Customization ScopeGet your customized report as per your preference. Ask for customization


The Global Furfural Market was valued at US$ 551.6 Mn in 2022.

Global Furfural Market is estimated to expand at a CAGR of 8.7% over the forecast period 2023-2031.

Furfural is obtained from sugarcane bagasse, corncob, rice husk, sunflower hull, and other agriculture residues.

Furfural and its derivatives have been used as fungicides and nematicides, transportation fuels, furfuryl alcohols, gasoline additives, solvents, resins, decolorizing agents, and insecticides among others. 

The market is majorly driven by factors such as growing furfuryl alcohol demand from the various industries and rapid growth of construction industry in developing nations.

The outdated manufacturing technologies are majorly hindering the market growth.

Corncob is highly used raw material in the production of furfurals.

Furfuryl alcohol segment has the highest share in the Global Furfural Market in 2022.

Petroleum refineries are the major end users of Global Furfural Market in 2022.

Asia Pacific dominates the Global Furfural Market.

The key players in the Global Furfural Market are Hebeichem, Hongye Holding Group Corporation Limited, Shanghai Huiyingtong International Trading Co., Ltd., and KRBL among others.

COVID-19 had a negative impact on Global Furfural Market growth. The whole value chain ranging from raw material supply and manufacturing to marketing had been affected by the COVID-19 pandemic.