Furfural Market
                     Furfural Market Analysis, Company Profile, Latest Innovations and Industry Expansion 
Strategies 2027
Market Overview
Furfural is an organic compound derived from plant materials such as corncobs, oat, wheat bran, 
rice husk, bagasse, and saw dust. It is usually produced from agricultural wastes rich in pentosans 
that are hydroysed to produce furfural and its byproducts. Furfural is a colorless oil that readily 
dissolves in various organic solvents and is slightly soluble in water. It exhibits chemically similar 
properties as that of other aldehydes and aromatic compounds. It can be readily hydrogenated to 
tetrahydrofurans derivatives, which when are heated with acids results into solidified polymer or 
thermosetting polymer. Hence, it is commercially considered as a renewable, non-petroleum based 
chemical feedstock.
The U.S. Department of Energy has also selected furfural as one of the top 30 platform chemicals 
derived from biomass. Furfural production was pioneered in 1921 by the Quaker Oats Company 
using oat hulls, corncobs, and bagasse. In 2014, around 300 to 700 kilotons of furfural was 
produced worldwide, of which China contributed a major share. Significant improvements in the 
production methods of furfural and its increasing incorporation in a wide range of applications have
resulted into furfural emerging as a widely used biomass-based chemical.
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Market Dynamics
Increasing inclination of the populace towards renewable energy to replace fossil resources is a 
major factor driving growth of the furfural market. Due to its key attributes of thermosetting 
properties, physical strength, and corrosion resistance, furfural has emerged as an immediate 
alternative to furan-based chemicals. Also, it is derived from abundantly available biomass, which 
makes it a highly preferred biomass-based chemical. Furfural is mainly used to produce furfuryl 
alcohol, which is widely used in manufacturing polymers, textiles, and construction materials. The 
raw materials for furfural production are the agricultural wastes which are widely available in the 
Asia-Pacific region, especially in China, India, Indonesia, and Malaysia.
Global Furfural Taxonomy
The global furfural market is classified on the basis of the following segments:
•By application
•Furfural alcohol
•Solvents
•Others
•By raw materials
•Corn cob
•Rice husk
•Bagasse
•Others
•By end-use industry
•Petroleum
•Agriculture
•Paints & coatings
•Pharmaceutical
•Others
Major players involved in the market include Hongye Holding Group Corporation Ltd., Arcoy 
Biorefinery Pvt. Ltd., Corporation, Ltd., Central Romana, KRBL Ltd., Illovo Sugar Ltd., Lenzing 
AG, Penn A Kem LLC, Tanin Sevnica d.d., Linzi Organic Chemicals Inc. Ltd., Tieling North 
Furfural (Group) Co., Ltd., Silvateam S.p.A., and Xingtai Chunlei Furfuryl Alcohol Co., Ltd.
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