Furfural Market
                     Furfural Market Analysis And Forecast By Key Manufacturers, Product, Application And 
Geography 2021-2026
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.
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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. The abundant availability 
of raw materials and low cost labor available in these countries is another factor driving the furfural 
market in Asia Pacific. Hence, it is also widely used in production of agricultural formulations such 
as herbicides, pesticides, fungicides, and other synthetic chemical compounds. 
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
The global furfural market is highly fragmented due to the presence of many established and local 
players across the world. 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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