Global Furfural and Furfuryl Alcohol
Market Report
2025
Global Furfural and Furfuryl Alcohol market size is USD 485.2 million in 2024. The increasing demand for products that are environmentally sustainable and eco-friendly is expected to boost sales to USD 779.1 Million by 2031 with a Compound Annual Growth Rate (CAGR) of 7.00% from 2024 to 2031.
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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According to Cognitive Market Research, the global Furfural and Furfuryl Alcohol market size is USD 485.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 485.2 Million | 121212 | 121212 | 121212 | 7% |
North America Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 194.08 Million | 121212 | 121212 | 121212 | 5.2% |
Mexico Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 17.66 Million | 121212 | 121212 | 121212 | 5.7% |
Canada Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 23.29 Million | 121212 | 121212 | 121212 | 6% |
United States Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 153.13 Million | 121212 | 121212 | 121212 | 5% |
Europe Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 145.5 Million | 121212 | 121212 | 121212 | 5.5% |
Germany Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 28.82 Million | 121212 | 121212 | 121212 | 5.7% |
France Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 13.39 Million | 121212 | 121212 | 121212 | 4.7% |
Spain Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 11.94 Million | 121212 | 121212 | 121212 | 4.6% |
United Kingdom Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 24.45 Million | 121212 | 121212 | 121212 | 6.3% |
Russia Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 22.56 Million | 121212 | 121212 | 121212 | 4.5% |
Italy Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 12.52 Million | 121212 | 121212 | 121212 | 4.9% |
Rest of Europe Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 22.56 Million | 121212 | 121212 | 121212 | 4.2% |
Asia Pacific Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 111.6 Million | 121212 | 121212 | 121212 | 9% |
India Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 13.39 Million | 121212 | 121212 | 121212 | 10.8% |
Korea Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 11.16 Million | 121212 | 121212 | 121212 | 8.1% |
Japan Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 15.4 Million | 121212 | 121212 | 121212 | 7.5% |
China Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 50.22 Million | 121212 | 121212 | 121212 | 8.5% |
Australia Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 5.8 Million | 121212 | 121212 | 121212 | 8.7% |
Rest of APAC Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 7.92 Million | 121212 | 121212 | 121212 | 8.8% |
South America Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 24.26 Million | 121212 | 121212 | 121212 | 6.4% |
Colombia Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 2.16 Million | 121212 | 121212 | 121212 | 6.2% |
Argentina Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 4.08 Million | 121212 | 121212 | 121212 | 7.3% |
Brazil Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 10.38 Million | 121212 | 121212 | 121212 | 7% |
Chile Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 1.75 Million | 121212 | 121212 | 121212 | 6.7% |
Peru Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 1.99 Million | 121212 | 121212 | 121212 | 6.6% |
Rest of South America Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 3.91 Million | 121212 | 121212 | 121212 | 5.5% |
Middle East and Africa Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 9.7 Million | 121212 | 121212 | 121212 | 6.7% |
Turkey Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 0.83 Million | 121212 | 121212 | 121212 | 6.2% |
Egypt Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 1.02 Million | 121212 | 121212 | 121212 | 7% |
Rest of MEA Furfural and Furfuryl Alcohol Market Sales Revenue | 121212 | $ 1.15 Million | 121212 | 121212 | 121212 | 5.7% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Raw Material |
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Market Split by Application |
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Market Split by End-Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Restrains:
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Market Trends:
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Furfural and Furfuryl Alcohol Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Furfural, derived from sugarcane bagasse and corncobs, undergoes catalytic reduction to produce furfuryl alcohol. It is an organic compound characterized by a furan ring substituted with a hydroxymethyl group. Furfuryl alcohol serves primarily as a chemical intermediate in the production of various chemical products, including wetting agents, adhesives, and foundry resins. Its widespread utilization extends to resin and plastic applications, with increasing research and development activities in the field of rocket fuel anticipated to drive demand for furfuryl alcohol. Additionally, the product plays a crucial role in the foundry sector, particularly in mold formulation for metal casting. As a result, the rising demand for furfuryl alcohol across diverse end-use industries worldwide is expected to propel market growth in the foreseeable future.
Furfuryl alcohol, a chemical derived from furfural, is a crucial component in the production of foundry sand binders, valued for its high reactivity. It has long been employed in crafting cores and molds for metal in the foundry industry. Additionally, furfuryl alcohol serves as a precursor for tetrahydro furfuryl alcohol (THFA), extensively utilized in pharmaceutical manufacturing. Projections from the World Foundry Organization indicate robust growth of the foundry industry in India, with an anticipated expansion of 13.0-14.0% until 2025. India is poised to become the world's second-largest foundry market, following China.
Furfuryl alcohol is a pivotal component in foundry resins essential for metal casting processes. The surge in demand for cast metal products, driven by growth in the automotive and construction sectors, is fueling the consumption of furfuryl alcohol. Notably, the United States boasts one of the world's largest automotive industries, contributing a substantial 3% to the nation's gross domestic product (GDP). In recent years, the U.S. has witnessed a remarkable increase in sales of new light-duty chargeable electric vehicles, soaring to 608,000 units in 2021 from 308,000 units in 2020. Battery electric vehicles accounted for over 73% of total chargeable electric vehicle sales in the country. Furfuryl alcohol's appeal lies in its exceptional binding properties, minimal emissions, and ease of application in casting processes.
The furfural market faces a significant challenge due to the availability of alternatives derived from crude oil. Industries across various sectors traditionally rely on crude oil-based substances, which creates resistance to adopting furfural and its derivatives. Established infrastructures and supply chains associated with crude oil derivatives further hinder the widespread adoption of furfural-based products. This inertia in transitioning from conventional to bio-based solutions limits the potential market share for furfural. Addressing this challenge necessitates technological innovations and a shift in industry mindset to prioritize sustainable and eco-friendly alternatives, such as furfural, in manufacturing processes.
The economic slowdown during the pandemic led to reduced demand for furfural and furfuryl alcohol in sectors like automotive, construction, and manufacturing. This drop in demand stemmed from temporary closures of manufacturing plants, diminished consumer spending, and delays in construction projects. Moreover, the pandemic underscored the significance of sustainability and environmental consciousness, fostering a heightened interest in bio-based and eco-friendly products. Furfural and furfuryl alcohol, derived from renewable sources like agricultural residues, gained momentum as sustainable substitutes for petroleum-based chemicals. This shift towards sustainability had a positive impact on the furfural and furfuryl alcohol market.
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The competitive landscape of the Furfural and Furfuryl Alcohol market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized Furfural and Furfuryl Alcohol companies, and emerging start-ups aiming to disrupt the market with innovative solutions.
May 2021: The Kilombero Sugar Company, a subsidiary of Illovo Sugar Africa with a 75% ownership stake, unveiled a significant expansion initiative. This expansion project aims to boost the company's sugar production capacity from 127,000 tons per annum to 271,000 tons.
(Source: https://www.illovosugarafrica.com/announcements/kilombero-announces-significant-sugar-expansion-project ) May 2019: Pennakem, LLC received approval for the utilization of its renewable solvent, Viridisol M, as an authorized raw material for natural detergents and organic-based natural detergents. (Source: https://pennakem.com/our-products/viridisol-f/ )
Top Companies Market Share in Furfural and Furfuryl Alcohol Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Furfural and furfuryl alcohol find diverse applications spanning pharmaceuticals, agriculture, chemicals, and foundry industries. In Canada, the total pharmaceutical sales value surged by 56.4% to $34.1 billion from 2012 to 2021, as per the 2021 PMPRB Annual Report. Notably, the United States, Canada's primary trading partner, accounted for 64% of exports and 29% of imports in 2020. These compounds play essential roles as solvents, chemical intermediates, and corrosion inhibitors in various manufacturing processes. With ongoing growth and innovation in these industries, the demand for furfural and furfuryl alcohol continues to escalate accordingly.
Asia Pacific stands out as the fastest-growing region in the Furfural and Furfuryl Alcohol market due to several compelling reasons. ? This trend is driven by the increasing use of the product as a flavor enhancer in a wide range of food items, spanning baked goods, beverages, candies, frozen desserts, gravies, meat products, and puddings. In China, furfural is primarily utilized for the production of furfuryl alcohol, with China being the foremost global producer, accounting for over 80% of worldwide output. Many industry participants in China are involved in both furfural and furfuryl alcohol production, aiming to secure cost advantages in the market.
The current report Scope analyzes Furfural and Furfuryl Alcohol 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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According to Cognitive Market Research, the global Furfural and Furfuryl Alcohol market size was estimated at USD 485.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 194.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
According to Cognitive Market Research, the global Furfural and Furfuryl Alcohol market size was estimated at USD 485.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 145.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
According to Cognitive Market Research, the global Furfural and Furfuryl Alcohol market size was estimated at USD 485.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 111.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
According to Cognitive Market Research, the global Furfural and Furfuryl Alcohol market size was estimated at USD 485.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 24.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
According to Cognitive Market Research, the global Furfural and Furfuryl Alcohol market size was estimated at USD 485.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 9.70 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Global Furfural and Furfuryl Alcohol 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 Furfural and Furfuryl Alcohol Industry growth. Furfural and Furfuryl Alcohol market has been segmented with the help of its Raw Material, Application End-Use, and others. Furfural and Furfuryl Alcohol 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.
According to Cognitive Market Research, Sugarcane Bagasse stands out as the dominating category. Sugarcane bagasse is swiftly emerging as the fastest-growing material segment in the furfural market, outpacing alternatives like corn cob and rice husk. This surge is fueled by its inherent advantages and versatile applications. As an abundant by-product of the sugar industry, sugarcane bagasse is gaining significant attention. Its high cellulose and hemicellulose content make it an excellent raw material for furfural production. The efficient conversion of these components not only enhances overall yield but also boosts productivity during synthesis. Moreover, the use of sugarcane bagasse seamlessly aligns with sustainability goals, providing an eco-friendly alternative to traditional sources.
Corncobs emerges as the fastest-growing category in the Furfural and Furfuryl Alcohol market. Corncobs are valued for their rich cellulose and hemicellulose content, critical for furfural production. Their effective conversion into furfural translates to optimized yields in the manufacturing process. This heightened furfural yield renders corncobs a compelling option for manufacturers, enabling them to maximize furfural and furfuryl alcohol output per unit of raw material.
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According to Cognitive Market Research, the dominating Application is Resins. Furfuryl alcohol serves as a primary ingredient in resinous mortars, widely utilized for bonding corrosion-resistant bricks or tiles in the construction of storage tanks, reactors, and industrial infrastructure such as floors and fume stacks. Its application extends to corrosion-resistant mortars, cement, and durable fiber-reinforced plastics, meeting the escalating demand for resilient construction materials. Additionally, the product's efficacy as a corrosion inhibitor, particularly in cement, grout, and mortar applications, contributes to its increasing adoption, driven by growing awareness of its benefits.
The fastest-growing Application in the Furfural and Furfuryl Alcohol market is Solvent. Furfuryl alcohol plays a pivotal role in petrochemical refining as a solvent, along with serving as a crucial chemical feedstock for synthesizing 5-membered oxygen heterocycles. In this capacity, it facilitates the formulation of tetrahydrofuran, an indispensable industrial solvent, supporting various refining and manufacturing processes.
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According to Cognitive Market Research, the dominating category is Foundry. Furfuryl alcohol finds essential application as a binder in various foundry processes, including the furan no-bake system and gas-hardened warm-box, and hot-box methods. Within the foundry industry, it competes primarily with phenol, a key component in phenolic resins. Anticipated growth in metal casting production is poised to drive demand for furfuryl alcohol in this sector.
The fastest-growing category in the Furfural and Furfuryl Alcohol market is Agriculture. Furfuryl alcohol plays a significant role in agricultural applications, particularly in pesticide formulations, where it serves as a cosolvent for active ingredients like gibberellic acid, mefenoxam, and propiconazole. It also acts as an adjuvant, aiding herbicides in penetrating leaf structures. With the agricultural sector witnessing expansion and increased farm production, particularly in economies such as China, India, Indonesia, Russia, France, and Germany, the demand for furfuryl alcohol is projected to rise in tandem.
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Raw Material | Sugarcane Bagasse, Corncob, Rice Husk, Others |
Application | Resins, Solvent, Corrosion Inhibitors, Others |
End-Use | Foundry, Agriculture, Paints & Coatings, Pharmaceuticals, Food & Beverages, Others |
List of Competitors | Aurus Speciality Company Limited, Central Romana Corporation, Hebei Xingtai Chunlei Furfuryl Alcohol, Henan Huilong Chemical, Hongye Holding Group Corporation Limited, Illovo Sugar Africa, Penn A Kem, Shanxi Province Gaoping Chemical, Silvateam |
This chapter will help you gain GLOBAL Market Analysis of Furfural and Furfuryl Alcohol. Further deep in this chapter, you will be able to review Global Furfural and Furfuryl Alcohol 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 Furfural and Furfuryl Alcohol. Further deep in this chapter, you will be able to review North America Furfural and Furfuryl Alcohol Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Furfural and Furfuryl Alcohol. Further deep in this chapter, you will be able to review Europe Furfural and Furfuryl Alcohol Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Furfural and Furfuryl Alcohol. Further deep in this chapter, you will be able to review Asia Pacific Furfural and Furfuryl Alcohol 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 Furfural and Furfuryl Alcohol. Further deep in this chapter, you will be able to review South America Furfural and Furfuryl Alcohol 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 Furfural and Furfuryl Alcohol. Further deep in this chapter, you will be able to review Middle East and Africa Furfural and Furfuryl Alcohol Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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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 Furfural and Furfuryl Alcohol. 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.
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 Raw Material Analysis 2019 -2031, will provide market size split by Raw Material. 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 Raw Material Analysis 2021 - 2033
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Chapter 11 Market Split by Application Analysis 2021 - 2033
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Chapter 12 Market Split by End-Use Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Furfural and Furfuryl Alcohol market
Chapter 13 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 Sugarcane Bagasse have a significant impact on Furfural and Furfuryl Alcohol market? |
What are the key factors affecting the Sugarcane Bagasse and Corncob of Furfural and Furfuryl Alcohol Market? |
What is the CAGR/Growth Rate of Resins during the forecast period? |
By type, which segment accounted for largest share of the global Furfural and Furfuryl Alcohol Market? |
Which region is expected to dominate the global Furfural and Furfuryl Alcohol Market within the forecast period? |
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