Furfural Market: Competitive Landscape and Strategies

Posted by Pearl Smith on July 11th, 2023

Furfural is a colorless to slightly yellow, flammable liquid with a strong odor. It is a chemical compound that is derived from biomass, such as corncobs, rice husks, and sugarcane bagasse. Furfural is used in a variety of applications, including:

Here are some of the key properties of furfural:

Chemical formula: C4H3OCHO
Molar mass: 96.0846 g/mol
Boiling point: 162 °C
Melting point: −31.2 °C
Density: 1.16 g/cm3
Flash point: 140 °F
Odor: Almond-like

Furfural is a colorless to slightly yellow, flammable liquid with a strong odor. It is a chemical compound that is derived from biomass, such as corncobs, rice husks, and sugarcane bagasse. Furfural is used in a variety of applications, including:

• Solvent: Furfural is a good solvent for a variety of organic compounds, including resins, plastics, and dyes. It is also used as a denaturant for alcohol.

• Intermediate: Furfural is used to produce a variety of other chemicals, including furfuryl alcohol, tetrahydrofuran (THF), and levulinic acid. These chemicals have a variety of applications, including in the production of plastics, resins, and pharmaceuticals.

• Fuel: Furfural can be used as a fuel, either directly or as a precursor to other fuels. It has a high energy density and can be used in a variety of combustion engines.

• Other applications: Furfural has a number of other applications, including in the production of adhesives, flavorings, and pesticides.

• The global furfural market is expected to grow at a CAGR of 6.2% from 2023 to 2030. The growth of the market is driven by a number of factors, including:

• Increasing demand for renewable chemicals: Furfural is a renewable chemical that can be produced from biomass. This is in line with the growing demand for renewable chemicals from industries such as the automotive, construction, and electronics industries.

• Expanding application base: Furfural is used in a variety of applications, and the application base is expected to expand in the coming years. For example, furfural is being used as a fuel in a number of countries, and this is expected to drive the growth of the market.

• Government regulations: Governments in a number of countries are promoting the use of renewable chemicals. This is expected to boost the demand for furfural in the coming years.

• The global furfural market is segmented by raw material, application, end-user, and region. By raw material, the market is segmented into corncobs, rice husks, sugarcane bagasse, and others. The corncobs segment is expected to dominate the market during the forecast period. This is due to the high availability of corncobs as a raw material for furfural production.

• By application, the market is segmented into furfuryl alcohol, solvent, and others. The furfuryl alcohol segment is expected to dominate the market during the forecast period. This is due to the increasing demand for furfuryl alcohol in the production of resins, plastics, and other chemicals.

• By end-user, the market is segmented into petroleum refineries, agricultural formulations, paints & coatings, pharmaceuticals, and others. The petroleum refineries segment is expected to dominate the market during the forecast period. This is due to the increasing use of furfural in the production of gasoline and other petroleum products.

• The regional market for furfural is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the market during the forecast period. This is due to the high demand for furfural in the production of resins, plastics, and other chemicals in the region.

• The key players in the global furfural market include International Furan Chemicals, TransFurans Chemicals, Penn A Kem LLC, and Sugar Illovo Ltd. These players are focusing on expanding their production capacities and developing new applications for furfural in order to maintain their market share.