Furfuryl Alcohol Market Growth, Trends, Industry Statistics 2022-2030

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.

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Report Coverage

Report Scope Details
Market Size US$ 921.6 million by 2030
Growth Rate CAGR of 8.2% From 2021 to 2030
Largest Market North America
Base Year 2021
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

Growth Factors

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.

Key Players

  • 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

Market Segmentation

  • By Application
    • Resins
    • Solvent
    • Corrosion Inhibitors
    • Others
  • By End-use
    • Foundry
    • Agriculture
    • Paints & Coatings
    • Pharmaceuticals
    • Food & Beverages
    • Others
  • Regional
    • North America
      • U.S.
      • Mexico
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Belgium
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
    • Central & South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa

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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

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Furfuryl Alcohol Market, By Application

7.1.  Furfuryl Alcohol Market, by Application, 2021-2030

7.1.1.    Resins

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Solvent

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Corrosion Inhibitors

7.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Furfuryl Alcohol Market, By End-use

8.1.  Furfuryl Alcohol Market, by End-use, 2021-2030

8.1.1.    Foundry

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Agriculture

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Paints & Coatings

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Pharmaceuticals

8.1.4.1.        Market Revenue and Forecast (2017-2030)

8.1.5.    Food & Beverages

8.1.5.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Furfuryl Alcohol Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Application (2017-2030)

9.1.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Application (2017-2030)

9.1.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Application (2017-2030)

9.1.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Application (2017-2030)

9.2.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Application (2017-2030)

9.2.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Application (2017-2030)

9.2.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Application (2017-2030)

9.2.5.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Application (2017-2030)

9.2.6.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Application (2017-2030)

9.3.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Application (2017-2030)

9.3.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Application (2017-2030)

9.3.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Application (2017-2030)

9.3.5.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Application (2017-2030)

9.3.6.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Application (2017-2030)

9.4.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Application (2017-2030)

9.4.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Application (2017-2030)

9.4.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Application (2017-2030)

9.4.5.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Application (2017-2030)

9.4.6.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Application (2017-2030)

9.5.2.    Market Revenue and Forecast, by End-use (2017-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Application (2017-2030)

9.5.3.2.        Market Revenue and Forecast, by End-use (2017-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Application (2017-2030)

9.5.4.2.        Market Revenue and Forecast, by End-use (2017-2030)

Chapter 10.  Company Profiles

10.1.              ILLOVO SUGAR AFRICA (PTY) LTD.

10.1.1.  Company Overview

10.1.2.  Application Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              Linzi Organic Chemical Inc. Ltd.

10.2.1.  Company Overview

10.2.2.  Application Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              TransFurans Chemicals bvba

10.3.1.  Company Overview

10.3.2.  Application Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              DalinYebo

10.4.1.  Company Overview

10.4.2.  Application Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              Hebeichem

10.5.1.  Company Overview

10.5.2.  Application Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              SilvateamS.p.a.

10.6.1.  Company Overview

10.6.2.  Application Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Shandong Crownchem Industries Co., Ltd.

10.7.1.  Company Overview

10.7.2.  Application Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              Hongye Holdings Group Corp., Ltd.

10.8.1.  Company Overview

10.8.2.  Application Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              Xian Welldon Trading Co., Ltd.

10.9.1.  Company Overview

10.9.2.  Application Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

10.10.           Furnova Polymers Ltd.

10.10.1.               Company Overview

10.10.2.               Application Offerings

10.10.3.               Financial Performance

10.10.4.               Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

12.2.              Glossary of Terms

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