As per this study the Global Furfuryl Alcohol Market was valued USD 0.55 MN (by revenue) in 2022 and is anticipated to reach USD 1.03 MN by 2030 with a CAGR of 8.2%.. Regarding volume, the market was calculated XX Tons in 2022 and forecast to touch XX Tons by 2030 with a CAGR of XX% during 2023-2030.
Furfuryl alcohol is a colorless (appears amber when aged), slightly bitter organic liquid with faint burning odor used extensively as a solvent in rubber, pesticide, and foundry industries. It is also used as fuel for aircraft and rockets. It is generally synthesized by using sugarcane bagasse, corncobs, oats, and rice hulls. Also, naturally furfuryl alcohol is present in pineapple juice, coffee, wine, and other alcoholic beverages.
Market Dynamics
Rising demand for furan resins from metal casting industry is driving the market growth. Shifting preference towards bio-based fuels owing to volatile crude oil prices is anticipated to spur the market demand in the forecasting period. Also, owing to an excellent wetting agent, furfuryl alcohol has widened its application in cement, paints, and coating, and other industries. In addition to this, rising global concern regarding depletion of fossil fuel is pushing the market demand uphill.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of furfuryl alcohol.
Market Segmentation
The broad furfuryl alcohol market has been sub-grouped into application and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application
- Resins
- Solvent
- Corrosion Inhibitors
- Others
By End-use
- Foundry
- Agriculture
- Paints & Coatings
- Pharmaceuticals
- Food & Beverages
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for furfuryl alcohol in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Furfuryl Alcohol Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Furfuryl Alcohol market include Illovo Sugar Africa (PTY) LTD., Linzi Organic Chemical Inc. Ltd., TransFurans Chemicals bvba, DalinYebo, Hebeichem, Silvateam S.p.a., Shandong Crownchem Industries Co. Ltd., Hongye Holdings Group Corp., Ltd., Xian Welldon Trading Co., Ltd., Furnova Polymers Ltd., NC Nature Chemicals. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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