Furfuryl Alcohol Market Overview
Furfuryl Alcohol are organic compound. Furfuryl alcohol contains a furan which is substituted with hydroxymethyl group. Furfuryl alcohol is a colorless liquid. Furfuryl alcohol are soluble in organic solvents. Furfuryl alcohol possess a bitter taste and faint odor of burning. Furfuryl alcohol are unstable in water. Furfuryl alcohol is used as a flavoring agent and used in making cements and sealants. Furfuryl alcohol is a naturally occurring byproduct which appears in food during fermentation, smoky natural food, and beverages. Furfuryl alcohol present in food by the way of thermal processing, ageing of alcoholic beverages. Furfuryl alcohol can also produce from agricultural wastes like bagasse, cobs, corn, etc. Furfural which is chemical feedstock used in synthesize of industrial chemicals, resins, solvents, furan derivatives and plastics. Furfuryl alcohol is obtained by raw materials like oat hulls, sugarcane bagasse, rice hulls, cotton hulls, corncobs, etc. which is called as green chemical. Use of Furfuryl alcohol has increased due to its applications in food and beverage industries which is expected to give rise in growth of Furfuryl market.
The Furfuryl Market size accounted for US$ 472.7 million in 2020 and is estimated to be US$ 897.94 million by 2030 and is anticipated to register a CAGR of 7.3%.
Furfuryl Alcohol Market Dynamics
Rise in food and beverage industries and rate of urbanization
Rise in urbanization of an individual is one of the leading factors for the global Furfuryl alcohol market growth. Urbanization has enhanced the change in lifestyle of individual. Packed food, packed juices are high in demand by consumers. Rise in disposable income due to urbanization has given rise in purchasing processed foods in busy lifestyle. Use of Furfuryl alcohol in food and beverage industries are the major factor for the growth of market. Furfuryl alcohol is used in wine-derived spirits, coffee, fruit juices, and baked products. As Furfuryl alcohol acts as a flavoring agent, its use in food and beverage industries is increasing. Moreover, increasing urban population is one of the driving factors for the Furfuryl alcohol market. Urban culture affects the person’s living lifestyle. According to data published by United Nations in 2014, about 54% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. However, the growth in food and beverage industries and population in urban areas boosts the demand for growth of Furfuryl alcohol market.
Recent advancement in technology
Manufactures involved in Furfuryl alcohol market are developing advanced versions of their products due to new age technological development. Recent advancement in Furfuryl alcohol has increased the use in variety of industries. For instance, in 2018, the efficient bioconversion of furfural to furfuryl alcohol by Bacillus Coagulans NL01 is used to replace the chemical methods, as Furfural has become the important bio-based platform compound which is generated from the biomass. The bio-catalytic reduction has given the highest potential application for catalytic upgrading of Furfural from biomass. For instance, in 2021, recent advances in selective hydrogenation of furfural & its derivatives to pentanediol has develop the new, efficient, stable catalyst system used for hydrogenation of furfural and furfural derivatives.
Restrains:
However, Furfural causes irritation in skin and toxicity in liver, kidneys, respiratory system, etc., which may somewhat restrain the growth of the target market.
Furfuryl Alcohol Market Segmentation
The Furfuryl Alcohol Market is segmented based on product, application, and region.
On the basis of product, the Furfuryl Alcohol Market is segmented into Bagasse, Corncobs, Oat Hulls, Rice Hulls, Cotton Hulls, and others. On the basis of application, the target market is classified into Flavoring Agent, Making Sealants & Cements, Petrochemical Refining, Cleaning Compound, Drug Synthesis, Lubricating Oil, and others.
Regional Insights:
On region the Furfuryl Alcohol Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as India and China, and technological advancements. Moreover, rising growth in pharmaceutical, agriculture, refinery, and food & beverage industries is anticipated to increase demand for Furfuryl Alcohol in the region.
Report Scope:
|
Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 to 2030 |
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Market Segmentation |
By Product - Bagasse, Corncobs, Oat Hulls, Rice Hulls, Cotton Hulls, and others By Application – Flavoring Agent, Making Sealants & Cements, Petrochemical Refining, Cleaning Compound, Drug Synthesis, Lubricating Oil, and others.
|
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Furfuryl Alcohol Market report based on product, application, and region:
Furfuryl Alcohol Market, By Product:
- Bagasse
- Corncobs
- Oat Hulls
- Rice Hulls
- Cotton Hulls
- Others
Furfuryl Alcohol Market, By Application:
- Flavoring Agent
- Making Sealants & Cements
- Petrochemical Refining
- Cleaning Compound
- Drug Synthesis
- Lubricating Oil
- Others
Furfuryl Alcohol Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Furfuryl Alcohol Market Key Players
The key players operating the Furfuryl Alcohol Market includes, Zibo Huaao Chemical, International Furan Chemicals (IFC), Xingtai Chunlei Furfuryl Alcohol, Linzi Organic Chemicals Inc. Ltd., Shandong Yongchuang Casting Material, Hongye Holding Group, NC Nature Chemicals, Dalin Yebo, Furnova Polymers Ltd., Hebeichem, ILLOVO SUGAR AFRICA (PTY) LTD., Pennakem LLC., Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in 2020, China’s Hebeichem province has formulated a three year action plan and aims to become a hub for the production of new materials and petrochemicals. The production of petrochemicals will give rise in Furfuryl Alcohol Market.
Furfuryl Alcohol Market Company Profile
- Hebeichem*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Zibo Huaao Chemical
- International Furan Chemicals (IFC)
- Xingtai Chunlei Furfuryl Alcohol
- Linzi Organic Chemicals Inc. Ltd.
- Shandong Yongchuang Casting Material
- Hongye Holding Group
- NC Nature Chemicals
- Dalin Yebo
- Furnova Polymers Ltd.
- ILLOVO SUGAR AFRICA (PTY) LTD.
- Pennakem LLC.
“*” marked represents similar segmentation in other categories in the respective section
Furfuryl Alcohol Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Furfuryl Alcohol Market, By Product
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Bagasse
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Corncobs
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Oat Hulls
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Rice Hulls
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
-
- Cotton Hulls
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Cotton Hulls
-
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Global Furfuryl Alcohol Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Flavoring Agent
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Making Sealants & Cements
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Petrochemical Refining
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Cleaning Compound
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
-
- Drug Synthesis
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Drug Synthesis
-
- Lubricating Oil
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Lubricating Oil
-
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Global Furfuryl Alcohol Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Zibo Huaao Chemical
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- International Furan Chemicals (IFC)
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Xingtai Chunlei Furfuryl Alcohol
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Linzi Organic Chemicals Inc. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shandong Yongchuang Casting Material
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hongye Holding Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- NC Nature Chemicals
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- NC Nature Chemicals
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Furnova Polymers Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hebeichem
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ILLOVO SUGAR AFRICA (PTY) LTD.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Pennakem LLC.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Furfuryl Alcohol Market is segmented based on product, application, and region.
Rise in urbanization of an individual is one of the leading factors for the global Furfuryl alcohol market growth.
The Asia-pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as India and China, and technological advancements.
The key players operating the Furfuryl Alcohol Market includes, Zibo Huaao Chemical, International Furan Chemicals (IFC), Xingtai Chunlei Furfuryl Alcohol, Linzi Organic Chemicals Inc. Ltd., Shandong Yongchuang Casting Material, Hongye Holding Group, NC Nature Chemicals, Dalin Yebo, Furnova Polymers Ltd., Hebeichem, ILLOVO SUGAR AFRICA (PTY) LTD., Pennakem LLC.