The Global Furfural Alcohol Market
The Global Furfural Alcohol Market was valued at 503.7 million in 2021 and expected to grow 789.6 million by 2027 at a CAGR of 6.8% from 2021-2027.
Furfuryl alcohol is a chemical molecule that is colourless or pale yellow in appearance. It is often referred to as 2-furylmethanol or 2-furancarbinol. Having the chemical formula C4H3OCH2OH. Furfural alcohol, often known as furan, is an organic molecule having a molecular structure in which the hydroxymethyl band replaces the furan circle hydrogen. Furfuryl alcohol can be hydrogenated to create this chemical molecule. Plant waste materials such as corn cobs, cane bagasse, oat hulls, and rice husks, among others, can be used to create organic compounds. Due to its capacity for heat breakdown and polymerization when exposed to an acid catalyst, this product is particularly reactive. Comparatively, this substance has a wide range of commercial applications. Its main use is as a chemical intermediary in the manufacture of a number of chemical products, such as wetting agents, adhesives, and foundry resins.
Applications for resins and plastics use the product extensively. The demand for furfuryl alcohol is predicted to increase due to a growth in research and development efforts related to rocket fuel. In the foundry industry, the items are also crucial to the creation of metal casting moulds, a process that takes place during manufacture.
Market Drivers
The market for furfural alcohol is mostly growing due to an excess of furan resins and adhesives. Furfuryl alcohol usage is predicted to increase in the foundry, food and beverage, chemical, energy, agricultural, and pharmaceutical sectors over the course of the forecast period, which will fuel market growth. The market for bio-alcohols is projected to increase as awareness of the effects of dangerous chemicals on the environment grows. The demand for furfuryl alcohol is anticipated to increase in the near future as a result of the energy sector's progressive shift to green energy. Increased activity in the building and construction sector together with a spike in technological developments in the production of industrial chemicals will further pave the way for market expansion.
Market Restraints
Lack of raw materials due to the lockout and limitations will be a key obstacle to the market's expansion. Raw material price fluctuations will slow the market's expansion. The agricultural raw materials' seasonality will also hinder the market's rate of expansion. The lack of qualified workers in developing nations will also slow the rate of market expansion.
Impact of COVID-19
Due to recent events involving the COVID-19 pandemic, a number of governmental and private sector businesses are operating at a reduced capacity or have totally suspended operations. Due to a lack of raw materials, a manpower deficit, etc., the production of many consumer goods and other products has stopped all over the world. The market for furfuryl alcohol is predicted to suffer as a result.
Market Segmentation
The Global Furfural Alcohol Market is segmented into Type, Raw Material, Application, End-User. By Type such as Pharmaceutical Grade, Food Grade. By Raw Material such as Corncobs, Rice Hulls, Cotton Hulls, Sugarcane Bagasse, Others. By Application such as Resins, Solvents, Plastics, Adhesives, Corrosion Inhibitors, Others. By End-User such as Foundry, Food & Beverages, Chemical, Energy, Agriculture, Pharmaceuticals, Others.
Regional Analysis
The Global Furfural Alcohol Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2020, Asia Pacific dominated the market for furfuryl alcohol. During the forecast term, it is anticipated that this tendency would persist. This might be attributed to the growth of end-use industries in developing nations like China and India. Due to the region's expanding agriculture sector, the furfuryl alcohol market in North America is predicted to rise quickly. Germany is a significant contributor to the food and beverage industry in Europe. In the nation, almost one-third of the food and beverage goods produced are exported. The demand for furfuryl alcohol in Spain is thought to be driven by the expansion of pesticide production and exports.
Key Players
Various Key Players are listed in this report such as 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 Taxonomy
By Type
By Raw Material
By Application
By End-User
By Region
Global Furfural Alcohol Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Furfural Alcohol Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Furfural Alcohol Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Furfural Alcohol Market Share Analysis, By Type
5.3 Global Furfural Alcohol Market Size and Forecast, By Type
5.3.1 Pharmaceutical Grade
5.3.2 Food Grade
6 Global Furfural Alcohol Market, By Raw Material
6.1 Y-o-Y Growth Comparison, By Raw Material
6.2 Global Furfural Alcohol Market Share Analysis, By Raw Material
6.3 Global Furfural Alcohol Market Size and Forecast, By Raw Material
6.3.1 Corncobs
6.3.2 Rice Hulls
6.3.3 Cotton Hulls
6.3.4 Sugarcane Bagasse
6.3.5 Others.
7 Global Furfural Alcohol Market, By End-User Type
7.1 Y-o-Y Growth Comparison, By End-User Type
7.2 Global Furfural Alcohol Market Share Analysis, By End-User Type
7.3 Global Furfural Alcohol Market Size and Forecast, By End-User Type
7.3.1 Foundry
7.3.2 Food & Beverages
7.3.3 Chemical, Energy
7.3.4 Agriculture
7.3.5 Pharmaceuticals
7.3.6 Others.
8 Global Furfural Alcohol Market, By Application
8.1 Y-O-Y Growth Comparison, By Application
8.2 Global Furfural Alcohol Market Share Analysis, By Application
8.3 Global Furfural Alcohol Market Size and Forecast, By Application
8.3.1 Resins
8.3.2 Solvents
8.3.3 Plastics
8.3.4 Adhesives
8.3.5 Corrosion Inhibitors
8.3.6 Others.
9 Global Furfural Alcohol Market, By Region
9.1 Global Furfural Alcohol Market Share Analysis, By Region
9.2 Global Furfural Alcohol Market Share Analysis, By Region
9.3 Global Furfural Alcohol Market Size and Forecast, By Region
10 North America Furfural Alcohol Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 North America Furfural Alcohol Market Share Analysis, By Type
10.3 North America Furfural Alcohol Market Size and Forecast, By Raw Material
10.4 North America Furfural Alcohol Market Size and Forecast, By End-User Type
10.5 North America Furfural Alcohol Market Size and Forecast, By Application
10.6 North America Furfural Alcohol Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Furfural Alcohol Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Europe Furfural Alcohol Market Share Analysis, By Type
11.3 Europe Furfural Alcohol Market Size and Forecast, By Raw Material
11.4 Europe Furfural Alcohol Market Size and Forecast, By End-User Type
11.5 Europe Furfural Alcohol Market Size and Forecast, By Application
11.6 Europe Furfural Alcohol Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12 Asia Pacific Furfural Alcohol Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Asia Pacific Furfural Alcohol Market Share Analysis, By Type
12.3 Asia Pacific Furfural Alcohol Market Size and Forecast, By Raw Material
12.4 Asia Pacific Furfural Alcohol Market Size and Forecast, By End-User Type
12.5 Asia Pacific Furfural Alcohol Market Size and Forecast, By Application
12.6 Asia Pacific Furfural Alcohol Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4. Rest of Asia Pacific
13 Latin America Furfural Alcohol Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Latin America Furfural Alcohol Market Share Analysis, By Type
13.3 Latin America Furfural Alcohol Market Size and Forecast, By Raw Material
13.4 Latin America Furfural Alcohol Market Size and Forecast, By End-User Type
13.5 Latin America Furfural Alcohol Market Size and Forecast, By Application
13.6 Latin America Furfural Alcohol Market Size and Forecast, Country
13.6.1. Brazil
13.6.2. Rest of Latin America
14 Middle East Furfural Alcohol Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Middle East Furfural Alcohol Market Share Analysis, By Type
14.3 Middle East Furfural Alcohol Market Size and Forecast, By Raw Material
14.4 Middle East Furfural Alcohol Market Size and Forecast, By End-User Type
14.5 Middle East Furfural Alcohol Market Size and Forecast, By Application
14.6 Middle East Furfural Alcohol Market Size and Forecast, By Country
14.6.1. Saudi Arabia
14.6.2. UAE
14.6.3. Egypt
14.6.4. Kuwait
14.6.5. South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Linzi Organic Chemical Inc. Ltd
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 TransFurans Chemicals bvba
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 DalinYebo
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Hebeichem
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 SilvateamS.p.a.,
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 Shandong Crownchem Industries Co., Ltd.
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Hongye Holdings Group Corp., Ltd.
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Xian Welldon Trading Co., Ltd
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 Furnova Polymers Ltd.
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
