Furfuryl Alcohol Market - Global Industry Analysis 2024

Furfuryl Alcohol Market size may witness a significant growth over the foreseeable timeframe owing to application potential as polymer, wetting agent, solvents and adhesives. It is an organic compound obtained by furfuran catalytic reduction and considered as a green chemical.

Furfuryl alcohol is categorised under biopolymer obtained from eco-friendly sources. Increasing demand for bio polymers mainly and Europe and North America owing to rising environmental concerns and regulatory compliances may propel industry growth.

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Global cement industry is going to experience steady growth in coming years owing to increase in customers investing in residential and non- residential infrastructure projects. Furfuryl alcohol is water miscible and has usage as wetting agent in cement industry. Wetting agent are used in paints & coatings to prevent agglomerate formation. The chemical compound gets absorbed on the pigment surface as spacer. With help of wetting agents, the agglomerate formed are easily separated in individual particle and permanently settles in uniform distribution.

Pesticides are used to protect crops from diseases and weed. Global pesticide market is expected to grow over 6% in coming years owing to rise in population supported by increasing food & beverages demand.

Tetrahydrofurfuryl alcohol (THFA) is used as inert ingredient in pesticide. An inert material is not active but intentionally introduced in pesticide product. Inert material serves as solvent and permitting active ingredient in plant outer surface. It protects pesticides from degradation owing to exposure to sun thus extending pesticide shelf life. The growth in pesticide industry should drive the product demand.

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Europe driven by U.K, France & Germany furfuryl alcohol market may witness significant gains due to rising demand in cement, pesticides and anti-corrosion coatings industrial applications. Stringent environmental policy is likely to boost bio polymer production should favour regional industry growth.
Asia Pacific led by Japan, India, and China furfuryl alcohol market size may witness strong gains. Growing population has led to rise in food products demand mainly in India and China which is resulting in high pesticide requirements to obtain quality yields. Tetrahydrofurfuryl alcohol is widely used in pesticides as eco-friendly speciality solvent which is likely to fuel product demand in this region.

Furfural, corn cobs and sugar cane molasses are essential raw material for furfuryl alcohol manufacturing. High raw material cost may challenge industry profitability thereby affecting product price trend.

Global furfuryl alcohol market share is moderately fragmented. Key players operating in this industry are TransFurans, Penn A Kem, Dyna Chem, Nova Molecular technologies, SolvChem, SweetLake Chemical, Neu Chem, Novasorganics Romana, International Furan Chemicals and Sugar Illovo.
Companies are engaged in strategic alliances to enhance their product portfolio may drive industry growth.

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