Press release
Furfural Market to reach USD 2.43 billion by 2030, growing at a CAGR of 7.0%
Furfural Market
Market Overview
The Furfural Market is expanding steadily as demand increases from pharmaceuticals, agriculture, chemicals, petroleum refining, and renewable materials. Furfural-derived from agricultural residues such as corn cobs, sugarcane bagasse, rice husk, and biomass-is a key bio-based platform chemical used to produce furfuryl alcohol, solvents, resins, additives, and intermediates for a range of industrial applications.
The global market is valued at USD 1.61 billion in 2024 and is projected to reach USD 2.43 billion by 2030, growing at a CAGR of 7.0% during the forecast period. The drive toward bio-based chemicals, rising demand for furfuryl alcohol in foundry resins, and increased use of biomass-derived feedstock are major contributors to market growth.
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Market Growth (2024-2030)
• Market Size 2024: USD 1.61 billion
• Market Size 2030: USD 2.43 billion
• CAGR: 7.0%
Asia-Pacific dominates production due to abundant biomass availability and strong growth of chemical and agriculture-linked industries.
Key Market Drivers
• Increasing consumption of furfuryl alcohol in foundry binder resins
• Growing shift toward bio-based chemicals and renewable solvents
• Availability of low-cost agricultural biomass in Asia and Latin America
• Rising applications in pharmaceuticals, agrochemicals, and synthetic aroma chemicals
• Increased use of furfural in lubricant refining and catalyst production
• Supportive policies for biomass utilization and circular economy initiatives
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Market Segmentation
By Raw Material
• Corncobs
• Sugarcane Bagasse
• Rice Husks
• Sunflower Hulls
• Wood Residue
• Other Agricultural Biomass
By Process
• Quaker Batch Process
• Chinese Batch Process
• Continuous Process Technologies
By Application
• Furfuryl Alcohol Production
• Agrochemicals
• Pharmaceuticals & Intermediates
• Solvents & Resins
• Foundry Binders
• Lubricant Refining
• Flavors & Fragrances
• Synthetic Rubber & Plastics
By End-Use Industry
• Chemicals
• Foundry & Metal Casting
• Agriculture
• Pharmaceuticals
• Oil & Gas Processing
• Food & Beverage
• Automotive & Industrial Manufacturing
By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Key Market Trends
• Rapid adoption of biomass-based chemicals for sustainability compliance
• Growth in furfural demand for furfuryl alcohol, used in precision casting
• Increasing commercialization of continuous furfural production technology
• Rising use in green solvents and biofuel intermediates
• Investments in modern biomass conversion technologies
• Development of high-purity furfural for pharmaceutical formulations
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Competitive Landscape
Leading companies in the global Furfural Market include:
• Central Romana Corporation
• Lenzing AG
• TransFurans Chemicals
• Pennakem LLC (Minakem Group)
• Illovo Sugar Africa
• Shanxi Zhaocheng Chemical
• Hebei Xingtai Chunlei Furfuryl Alcohol
• Tieling North Furfural Group
• Hongye Holding Group Corporation
• Silvateam S.p.A.
Companies are focused on process optimization, biomass sourcing strategies, and producing high-purity furfural for specialty applications.
Recent Developments
• Expansion of furfuryl alcohol capacity to meet rising demand in foundry applications
• Biomass-rich regions investing in new furfural plants using continuous processing
• Collaboration between chemical producers and biomass suppliers to secure feedstock
• Development of bio-refinery models integrating furfural production with other value-added chemicals
• New R&D efforts to convert furfural into advanced biofuels and green polymers
This report is also available in the following languages : Japanese (フルフラール市場), Korean (푸르푸랄 시장), Chinese (糠醛市场), French (Marché de Furfural), German (Furfural-Markt), and Italian (Mercato del furfurolo), etc.
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