Global Furfural Solvent Report Thumbnail

Global Furfural Solvent Market by Application (Agricultural Formulations, Petroleum Refining, Paints & Coatings, Pharmaceuticals) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CHM-75551
  • Author: Up Market Research
  • Rating: 4.7
  • Total Reviews: 65
  • No. Of Pages: 238
  • Format:
  • Pub. Date: 2021-10-21
  • Share:

Industry Insights

The global furfural solvent market was worth USD 59.9 millions in 2014. This industry is characterised by a rising preference for biodegradable solutions in petroleum refining and butadiene extraction.

Technological advances have opened the door to innovative solvents made from agricultural by-products like furfural. This has led to a higher demand for low-VOC (volatile organic compound), non-toxic products in many end-use industries.

Introduced furfural solvents to agricultural formulations has revolutionized pesticides and fungicides as well as other synthetic chemical compounds. It has also replaced environmentally harmful products, which in turn has benefited consumer safety and health.

They are also used in paints, coatings, pharmaceuticals and textiles. Furfural by itself is used as a solvent, along with several of its derivatives such as tetrahydrofuran (THF), methyltetrahydrofuran (MeTHF), tetrahydrofurfuryl alcohol (THFA) and furfuryl alcohol as well.

U.S. furfural market revenue by application, 2012-2022 (USD Million).

Furfural is made mainly from agricultural waste, such as corn cobs and sugarcane bagasse, which are rich sources of pentosan sugars. These products are often the result of grain processing and milling. They are then hydrolyzed with strong mineral acids like sulfuric acid or phosphoric acid.

However, conventional processing technologies like the Quaker Oats process yield a very low yield of below 50%. This results in high market prices, despite the low cost of raw materials. Agency regulations such as REACH, ECHA, European Commission and REACH regulate furfural's use in lubricant refining, pharmaceuticals and agriculture.

The availability of corn and other agricultural commodities is another important factor that influences the production landscape. Biofuel production is increasingly dependent on these commodities. Pricing trends will also be affected by future obstacles in raw material procurement.

Due to its enormous capacity and expanding end-use markets, China will likely remain the largest producer and consumer of solvent applications. Due to regulatory pressures encouraging the use of bio-based or renewable chemicals in many industries, advanced regions like Europe and North America will also be in high demand.

Application Insights

Petroleum refining, pharmaceuticals, agricultural formulations and paints & coats are the main applications for furfural solvent. Petroleum refining was the most popular application globally. Petroleum refining is a major user of it in the extraction of butadiene and lubricating oils in petroleum refineries. It accounted for more than 57% overall volume in 2014.

This sector will see a rise in demand for bio-based solutions in many drug formulations and medicinal intermediates. With a CAGR of 17.2%, pharmaceuticals will be another rapidly-growing sector.

Furfural solvents are also being used in niche markets due to their low toxicity, heat resistance and biodegradability. Product demand will increase in many applications due to the growing importance of end-use industries in emerging countries like Brazil, China, India, and India.

Regional Insights

The report breaks down the global industry by region into North America and Western Europe, Central & Eastern Europe (China), Rest of Asia Pacific (Rem of the World) and Central & Eastern Europe (Central & Eastern Europe). China was the largest market, accounting for almost 65% of total volume in 2014. China's growth will be driven by a positive outlook on the petrochemical, paints & coats and pharmaceutical sectors.

Together, North America and Western Europe accounted for more than 16% of the total volume in 2014. These regions are highly populated with demand for pharmaceuticals, agricultural formulas and petroleum refining. These regions will also benefit from standardized environmental norms that restrict the use of hazardous chemicals.

Due to the rapid growth of pharmaceutical, chemicals and related industries, India and Southeast Asia markets will also experience higher than average growth rates. China is excluded from the Rest of Asia Pacific market share, which currently represents approximately 10% of the total market. It is expected to grow at a CAGR of 17.6% during the forecast period.

Competitive Insights

Technology innovations are driving the global industry to increase yield. For example, the University of Pennsylvania has developed cellulosic-ethanol production technology. Other important factors that influence competitiveness are strategic alliances, process improvisation and pricing.

Transfurans Chemicals (Illovo Sugar Ltd.), Harborchem (Teijing North Furfural Co.), Teijing Sugar & Chemical Ltd. and Alchem Chemical Co., Linzi Organic Chemical Inc. Xing Tai Chunlei Furfural Alcohol Ltd.., Penn Specialty Chemicals., BASF. Furfural Espanol S.A.

Up Market Research published a new report titled “Furfural Solvent Market research report which is segmented by Application (Agricultural Formulations, Petroleum Refining, Paints & Coatings, Pharmaceuticals), By Players/Companies Alchem Chemical Co, The Good Scents Co and Furfural Espanol SA, Linzi Organic Chemical Inc, Xing Tai Chunlei Furfural Alcohol Ltd, Penn Specialty Chemicals, Goodrich Sugar & Chemical Ltd, Teijing North Furfural Co, BASF, Transfurans Chemicals, Harborchem (Illovo Sugar Ltd)”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleFurfural Solvent Market Research Report
By ApplicationAgricultural Formulations, Petroleum Refining, Paints & Coatings, Pharmaceuticals
By CompaniesAlchem Chemical Co, The Good Scents Co and Furfural Espanol SA, Linzi Organic Chemical Inc, Xing Tai Chunlei Furfural Alcohol Ltd, Penn Specialty Chemicals, Goodrich Sugar & Chemical Ltd, Teijing North Furfural Co, BASF, Transfurans Chemicals, Harborchem (Illovo Sugar Ltd)
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages238
Number of Tables & Figures167
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Furfural Solvent Industry Outlook

Global Furfural Solvent Market Report Segments:

The market is segmented by Application (Agricultural Formulations, Petroleum Refining, Paints & Coatings, Pharmaceuticals).

Furfural Solvent Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Furfural Solvent Market

Overview of the regional outlook of the Furfural Solvent Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Furfural Solvent Market Overview

Highlights of The Furfural Solvent Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Furfural Solvent Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Application:

                1. Agricultural Formulations

                2. Petroleum Refining

                3. Paints & Coatings

                4. Pharmaceuticals

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Furfural Solvent Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Furfural Solvent Market Trends

Reasons to Purchase the Furfural Solvent Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Furfural Solvent Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Furfural Solvent Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Furfural Solvent Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Furfural Solvent Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Furfural Solvent Market Size & Forecast, 2018-2028 
      4.5.1 Furfural Solvent Market Size and Y-o-Y Growth 
      4.5.2 Furfural Solvent Market Absolute $ Opportunity 


Chapter 5 Global Furfural Solvent Market Analysis and Forecast by Application
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Application
      5.1.2 Basis Point Share (BPS) Analysis by Application
      5.1.3 Absolute $ Opportunity Assessment by Application
   5.2 Furfural Solvent Market Size Forecast by Application
      5.2.1 Agricultural Formulations
      5.2.2 Petroleum Refining
      5.2.3 Paints & Coatings
      5.2.4 Pharmaceuticals
   5.3 Market Attractiveness Analysis by Application

Chapter 6 Global Furfural Solvent Market Analysis and Forecast by Region
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Region
      6.1.2 Basis Point Share (BPS) Analysis by Region
      6.1.3 Absolute $ Opportunity Assessment by Region
   6.2 Furfural Solvent Market Size Forecast by Region
      6.2.1 North America
      6.2.2 Europe
      6.2.3 Asia Pacific
      6.2.4 Latin America
      6.2.5 Middle East & Africa (MEA)
   6.3 Market Attractiveness Analysis by Region

Chapter 7 Coronavirus Disease (COVID-19) Impact 
   7.1 Introduction 
   7.2 Current & Future Impact Analysis 
   7.3 Economic Impact Analysis 
   7.4 Government Policies 
   7.5 Investment Scenario

Chapter 8 North America Furfural Solvent Analysis and Forecast
   8.1 Introduction
   8.2 North America Furfural Solvent Market Size Forecast by Country
      8.2.1 U.S.
      8.2.2 Canada
   8.3 Basis Point Share (BPS) Analysis by Country
   8.4 Absolute $ Opportunity Assessment by Country
   8.5 Market Attractiveness Analysis by Country
   8.6 North America Furfural Solvent Market Size Forecast by Application
      8.6.1 Agricultural Formulations
      8.6.2 Petroleum Refining
      8.6.3 Paints & Coatings
      8.6.4 Pharmaceuticals
   8.7 Basis Point Share (BPS) Analysis by Application 
   8.8 Absolute $ Opportunity Assessment by Application 
   8.9 Market Attractiveness Analysis by Application

Chapter 9 Europe Furfural Solvent Analysis and Forecast
   9.1 Introduction
   9.2 Europe Furfural Solvent Market Size Forecast by Country
      9.2.1 Germany
      9.2.2 France
      9.2.3 Italy
      9.2.4 U.K.
      9.2.5 Spain
      9.2.6 Russia
      9.2.7 Rest of Europe
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 Europe Furfural Solvent Market Size Forecast by Application
      9.6.1 Agricultural Formulations
      9.6.2 Petroleum Refining
      9.6.3 Paints & Coatings
      9.6.4 Pharmaceuticals
   9.7 Basis Point Share (BPS) Analysis by Application 
   9.8 Absolute $ Opportunity Assessment by Application 
   9.9 Market Attractiveness Analysis by Application

Chapter 10 Asia Pacific Furfural Solvent Analysis and Forecast
   10.1 Introduction
   10.2 Asia Pacific Furfural Solvent Market Size Forecast by Country
      10.2.1 China
      10.2.2 Japan
      10.2.3 South Korea
      10.2.4 India
      10.2.5 Australia
      10.2.6 South East Asia (SEA)
      10.2.7 Rest of Asia Pacific (APAC)
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Asia Pacific Furfural Solvent Market Size Forecast by Application
      10.6.1 Agricultural Formulations
      10.6.2 Petroleum Refining
      10.6.3 Paints & Coatings
      10.6.4 Pharmaceuticals
   10.7 Basis Point Share (BPS) Analysis by Application 
   10.8 Absolute $ Opportunity Assessment by Application 
   10.9 Market Attractiveness Analysis by Application

Chapter 11 Latin America Furfural Solvent Analysis and Forecast
   11.1 Introduction
   11.2 Latin America Furfural Solvent Market Size Forecast by Country
      11.2.1 Brazil
      11.2.2 Mexico
      11.2.3 Rest of Latin America (LATAM)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Latin America Furfural Solvent Market Size Forecast by Application
      11.6.1 Agricultural Formulations
      11.6.2 Petroleum Refining
      11.6.3 Paints & Coatings
      11.6.4 Pharmaceuticals
   11.7 Basis Point Share (BPS) Analysis by Application 
   11.8 Absolute $ Opportunity Assessment by Application 
   11.9 Market Attractiveness Analysis by Application

Chapter 12 Middle East & Africa (MEA) Furfural Solvent Analysis and Forecast
   12.1 Introduction
   12.2 Middle East & Africa (MEA) Furfural Solvent Market Size Forecast by Country
      12.2.1 Saudi Arabia
      12.2.2 South Africa
      12.2.3 UAE
      12.2.4 Rest of Middle East & Africa (MEA)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Middle East & Africa (MEA) Furfural Solvent Market Size Forecast by Application
      12.6.1 Agricultural Formulations
      12.6.2 Petroleum Refining
      12.6.3 Paints & Coatings
      12.6.4 Pharmaceuticals
   12.7 Basis Point Share (BPS) Analysis by Application 
   12.8 Absolute $ Opportunity Assessment by Application 
   12.9 Market Attractiveness Analysis by Application

Chapter 13 Competition Landscape 
   13.1 Furfural Solvent Market: Competitive Dashboard
   13.2 Global Furfural Solvent Market: Market Share Analysis, 2019
   13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      13.3.1 Alchem Chemical Co
      13.3.2 The Good Scents Co and Furfural Espanol SA
      13.3.3 Linzi Organic Chemical Inc
      13.3.4 Xing Tai Chunlei Furfural Alcohol Ltd
      13.3.5 Penn Specialty Chemicals
      13.3.6 Goodrich Sugar & Chemical Ltd
      13.3.7 Teijing North Furfural Co
      13.3.8 BASF
      13.3.9 Transfurans Chemicals
      13.3.10 Harborchem (Illovo Sugar Ltd)
Segments Covered in the Report
The global Furfural Solvent market has been segmented based on

By Application
  • Agricultural Formulations
  • Petroleum Refining
  • Paints & Coatings
  • Pharmaceuticals
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Alchem Chemical Co
  • The Good Scents Co and Furfural Espanol SA
  • Linzi Organic Chemical Inc
  • Xing Tai Chunlei Furfural Alcohol Ltd
  • Penn Specialty Chemicals
  • Goodrich Sugar & Chemical Ltd
  • Teijing North Furfural Co
  • BASF
  • Transfurans Chemicals
  • Harborchem (Illovo Sugar Ltd)

Buy Report