Global Furan Resins
Market Report
2025
Furan Resins Market revenues were estimated to be USD $18.26 Billion in 2022 and it is expected to reach USD $27.62 Billion by 2030, Rising at a CAGR of 5.2% during the forecast period of 2023-2030.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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The Global Furan Resins Market revenues were estimated to be USD $18.26 Billion in 2022 and it is expected to reach USD $27.62 Billion by 2030, Rising at a CAGR of 5.2% during the forecast period of 2023-2030.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Furan Resins Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 121212 | 5.2% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Furan Resins Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Furan resins are a type of synthetic resins derived from furfuryl alcohol, which is obtained from renewable resources such as corn cobs, sugarcane bagasse, or rice husks. These resins have excellent thermal and chemical resistance properties, making them suitable for various applications.
Furan resins find extensive use in industries such as foundry, construction, automotive, aerospace, and corrosion protection. They are primarily used as binders in foundry sand molds and cores due to their ability to provide high strength and dimensional stability to the molds. Furan resins also exhibit good resistance to heat, acids, and alkalis, making them suitable for applications requiring high-temperature resistance and chemical resistance.
Market Dynamics of the Furan Resins Market
The increasing demand from the foundry industry is a significant driver for the global furan resins market. Foundries play a crucial role in the production of metal castings used in various industries, including automotive, aerospace, machinery, and construction. Furan resins are widely used as binders in the foundry sector due to their ability to provide excellent dimensional stability, high strength, and good sand flowability.
The automotive industry is a major consumer of metal castings, and the demand for lightweight components is increasing to improve fuel efficiency and reduce emissions. Furan resins are preferred in the foundry sector for manufacturing lightweight castings with high strength and dimensional accuracy, meeting the requirements of the automotive and transportation sectors.
The construction industry is a significant user of metal castings, especially for infrastructure development and building construction. Furan resins are utilized in the foundry industry to produce castings used in applications such as pipes, fittings, manhole covers, and architectural components, supporting the growth of the construction sector.
Various industries, including machinery, equipment, and industrial manufacturing, rely on metal castings for the production of components. Furan resins offer excellent thermal stability, allowing castings to withstand high temperatures during operation. This makes them suitable for applications in heavy machinery, industrial equipment, and other manufacturing sectors.
Furan resins have advantages over traditional binders such as phenolic resins and clay. Furan resins provide better collapsibility, lower gas evolution, reduced defects, and improved surface finish of castings. As foundries seek to enhance casting quality and efficiency, they are increasingly adopting furan resins as a preferred binder option.
Furan resins are derived from renewable resources and have a lower environmental impact compared to conventional binders. This aligns with the growing emphasis on sustainability and environmental regulations in the manufacturing industry. The foundry sector is gradually shifting towards greener alternatives, including furan resins, to reduce emissions and comply with environmental regulations.
The combination of these factors contributes to the increasing demand for furan resins from the foundry industry. As the foundry sector continues to expand, driven by various end-use industries, the demand for furan resins as binders in metal casting applications is expected to grow.
Restraining Factor:
The availability and sourcing of raw materials, particularly furfuryl alcohol, can be a significant restraint for the furan resins market. Furfuryl alcohol is the primary raw material used in the production of furan resins. It is derived from renewable resources such as agricultural by-products including corn cobs, sugarcane bagasse, or rice husks.
The production of furfuryl alcohol depends on the availability and yield of the raw agricultural feedstock. Factors such as weather conditions, crop yields, and agricultural practices can affect the quantity and quality of the feedstock. Variations in these factors can lead to fluctuations in the availability and pricing of furfuryl alcohol.
The transportation and logistics involved in sourcing the raw agricultural feedstock and delivering it to the furfuryl alcohol production facilities can pose challenges. Efficient supply chain management is crucial to ensure a consistent and reliable supply of raw materials for furan resin manufacturers.
Furfuryl alcohol is used in various industries, including pharmaceuticals, flavorings, and adhesives, apart from its application in furan resin production. Increased demand from these industries can create competition for the available supply of furfuryl alcohol, potentially impacting its availability and pricing for furan resin manufacturers.
Regulations related to the use of agricultural feedstocks, land use, and sustainability practices can affect the availability and sourcing of raw materials for furan resins. Compliance with environmental and regulatory requirements can add complexities and costs to the supply chain and impact the overall availability of furfuryl alcohol.
Current Trends on Furan Resins:
Advances in process technologies have been an important trend in the furan resins industry. These advancements aim to improve the processing efficiency, cost-effectiveness, and overall performance of furan resin-based products.
The curing process of furan resins has been a focus of research and development. Traditional curing methods often involve the use of heat and catalysts. However, advancements have been made to explore alternative curing technologies such as UV curing, microwave curing, and electron beam curing. These technologies offer faster curing times, energy savings, and improved control over the curing process.
Catalysts play a crucial role in the curing of furan resins. Advancements have been made in developing new catalyst systems or modifying existing ones to enhance the curing efficiency and performance of furan resin-based products. These advancements aim to achieve faster curing, reduced cure temperatures, improved product properties, and enhanced control over curing reactions.
Process optimization is another area of focus in advancing furan resin technologies. Manufacturers are exploring ways to optimize resin formulation, mixing procedures, and processing conditions to improve resin flowability, reduce defects, and enhance overall product quality. By optimizing the manufacturing process, manufacturers aim to achieve higher productivity, reduced energy consumption, and cost savings.
The furan resins industry is increasingly emphasizing sustainable and environmentally friendly production processes. Advancements have been made in developing greener process technologies that reduce or eliminate the use of hazardous substances and minimize the generation of harmful emissions. These initiatives align with the growing demand for eco-friendly materials and manufacturing practices.
Advancements in process technologies include improved quality control measures and testing methods. This ensures that the manufactured furan resin products meet the required specifications and performance standards. Quality control measures may include advanced testing techniques, such as thermal analysis, mechanical testing, and chemical analysis, to assess the properties and performance of furan resin-based products accurately.
The adoption of digitalization and automation technologies is transforming various industries, including resin manufacturing. In the furan resins industry, digitalization and automation are being applied to improve process control, data collection, and real-time monitoring. These technologies enable manufacturers to optimize production parameters, reduce variability, and enhance overall process efficiency.
Advances in process technologies are vital for the furan resins industry to meet evolving market demands, improve product performance, and drive innovation. By investing in research and development, manufacturers aim to develop more efficient, cost-effective, and sustainable processes for the production of furan resin-based products.
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Recent Developments:
April 2023
DuPont, Corbion, and Synvina—a joint venture of BASF and Avantium—are taking a different tack using sugar is an opportunity to improve the performance of today's plastic packaging. They are piloting new supply chains based on the sugar-derived furan ring.
Impact of the COVID-19 pandemic on the Furan Resins Market:
The pandemic resulted in disruptions in global supply chains, including raw material availability and transportation. Restrictions on movement, lockdown measures, and reduced workforce in manufacturing facilities affected the procurement of raw materials used in furan resin production. These disruptions caused delays and challenges in the supply of furan resins.
Several end-use industries of furan resins, such as automotive, construction, and aerospace, experienced significant disruptions due to lockdowns and reduced consumer demand. The slowdown in these industries directly impacted the demand for furan resins, leading to a temporary decline in market growth.
The pandemic led to the postponement of various construction and infrastructure projects, which are key consumers of furan resins. This delay in project implementation resulted in reduced demand for furan resins in the construction industry.
The pandemic brought changes in consumer behavior and preferences. The focus shifted towards essential goods, and non-essential sectors experienced a decline in demand. This shift in consumer spending patterns impacted industries that rely on furan resins, resulting in a slowdown in demand.
Despite the initial disruptions, the furan resins market showed signs of recovery as lockdown measures eased and economic activities gradually resumed. The resumption of construction projects, automotive production, and industrial activities contributed to the recovery of demand for furan resins.
The pandemic created a heightened awareness of hygiene and safety measures. This led to increased demand for materials with antimicrobial properties and improved cleanliness. Furan resins, known for their chemical resistance and durability, found applications in coatings and surfaces requiring enhanced hygiene and safety measures.
The pandemic reinforced the importance of sustainability and environmental responsibility. The furan resins market, with its bio-based and renewable nature, aligns with the growing emphasis on sustainable materials. This increased focus on sustainability may drive the adoption of furan resins in the post-pandemic period.
Top Companies Market Share in Furan Resins Industry: (In no particular order of Rank)
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North America Furan Resins market expected to grow at the fastest growth rate during the forecast period
North America is one of the major regional markets for furan resins, characterized by substantial demand from various industries. The market size of furan resins in North America is influenced by factors such as industrial growth, infrastructure development, and technological advancements.
Furan resins find applications across diverse industries in North America. The major end-use industries include automotive, foundry, construction, aerospace, electrical, and others. The automotive sector is a significant consumer of furan resins for applications such as brake linings and composite materials. The foundry industry utilizes furan resins as binders in metal casting processes. Construction applications include coatings, adhesives, and concrete additives.
The North America furan resins market is driven by factors such as the growth of key industries, increasing demand for sustainable and bio-based materials, and the emphasis on corrosion resistance and high-temperature performance. The region's focus on innovation and technological advancements also contributes to market growth.
The furan resins industry in North America is subject to various regulatory frameworks related to environmental protection, worker safety, and product quality. Compliance with regulations such as emissions standards, waste disposal regulations, and health and safety requirements is crucial for manufacturers operating in the region.
The North America furan resins market is characterized by the presence of several prominent players and manufacturers. These companies focus on product development, expansion of their product portfolios, and strategic partnerships to gain a competitive edge in the market.
Ongoing research and development activities in North America aim to enhance the performance and application range of furan resins. Efforts are being made to improve the sustainability aspects, optimize manufacturing processes, and explore new applications for furan resins in the region.
The current report Scope analyzes Furan Resins Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Furan Resins Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Furan Resins Industry growth. Furan Resins market has been segmented with the help of its Type, Application , and others. Furan Resins market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Furfuryl alcohol resin segment held the highest market share by revenue in 2022.
Furfuryl alcohol resin is the most common and widely used type of furan resin. It is produced by polymerizing furfuryl alcohol, which is derived from renewable resources such as agricultural by-products. Furfuryl alcohol resin exhibits excellent thermal stability, chemical resistance, and adhesion properties, making it suitable for various applications, including foundry molds and cores, composites, coatings, and adhesives.
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The foundry industry segment has held the largest revenue market in 2022
The foundry industry is a major application segment for furan resins. Furan resins are used as binders in foundry sand molds and cores to impart strength, dimensional stability, and good sand flowability. The ability of furan resins to withstand high temperatures and provide excellent casting properties makes them suitable for various metal casting applications in industries such as automotive, aerospace, machinery, and more.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Furan Resins Market is witnessing significant growth in the near future.
In 2023, the Furfuryl Alcohol Resin segment accounted for noticeable share of global Furan Resins Market and is projected to experience significant growth in the near future.
The Paints and Plastics segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies DynaChem , Hongye Chemical and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Furfuryl Alcohol Resin, Furfural Resin, Bran Ketone Resin, Branone Formaldehyde Resin |
Application | Paints and Plastics, Foundry Industry, Automotive, Adhesives & Sealants |
List of Competitors | DynaChem, International Process Plants, Hongye Chemical, The Chemical Company, Novasyn Organics, SolvChem, ShuHang Industrial Development, Nova Molecular Technologies, NeuChem, PennAKem, Continental Industries Group. and others. |
This chapter will help you gain GLOBAL Market Analysis of Furan Resins. Further deep in this chapter, you will be able to review Global Furan Resins Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Furan Resins. Further deep in this chapter, you will be able to review North America Furan Resins Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Furan Resins. Further deep in this chapter, you will be able to review Europe Furan Resins Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Furan Resins. Further deep in this chapter, you will be able to review Asia Pacific Furan Resins Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Furan Resins. Further deep in this chapter, you will be able to review South America Furan Resins Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Furan Resins. Further deep in this chapter, you will be able to review Middle East and Africa Furan Resins Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Furan Resins. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
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Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Furan Resins market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Furfuryl Alcohol Resin have a significant impact on Furan Resins market? |
What are the key factors affecting the Furfuryl Alcohol Resin and Furfural Resin of Furan Resins Market? |
What is the CAGR/Growth Rate of Paints and Plastics during the forecast period? |
By type, which segment accounted for largest share of the global Furan Resins Market? |
Which region is expected to dominate the global Furan Resins Market within the forecast period? |
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Additional Qualitative Data |
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