Market Overview:
The global furan resin market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing demand for paints & plastics, automotive, and adhesives & sealants applications across the globe. In terms of type, furfuryl alcohol resin is expected to hold a major share in the global furan resin market during the forecast period. This can be attributed to its properties such as high reactivity, thermal stability, and solubility in various organic solvents. Asia Pacific is expected to be one of the fastest-growing regions for furan resin during the forecast period owing to rising demand from countries such as China and India.
Product Definition:
A furan resin is a synthetic resin that is derived from furfural, a compound that is formed by the dehydration of certain sugars. Furan resins are used in adhesives, coatings, and other products.
Furfuryl Alcohol Resin:
Furfuryl alcohol resin is a furan resin, which is manufactured by the chemical reaction between furfuryl alcohol and bisphenol A.
Furfural Resin:
Furfural resin is a chemical compound and an organic liquid. It has a strong odor similar to that of vinegar. Furfural resins are used in the production of furan resin, which is further used for producing other chemicals such as thio-furans, cyanoacrylates, and polymeric acid.
Application Insights:
Paints & plastics was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. Paints & plastics is anticipated to be followed by foundry industry as second-largest segment. Furfuryl alcohol resin, furfural resins, bran ketone resins and branone-formaldehyde resins are some of the products used for paints & plastics applications.
The automotive sector emerged as one of the prominent end users of furan resin in 2016 owing to its lightweight properties and high strength-to-weight ratio that makes it suitable for use in vehicle parts including body panels, interior trim pieces, hoods/bonnets and roof structures among others. The growing automotive sector across various regions coupled with increasing consumer disposable income levels has been contributing significantly towards market growth over recent years.
Regional Analysis:
Asia Pacific accounted for the largest share of over 40.0% in 2017 and is anticipated to witness significant growth in the future as well owing to rapid industrialization, rising population, and increasing per capita income. The region has witnessed a surge in construction activities on account of government initiatives such as “Housing for All†project by India's prime minister Narendra Modi. This is likely to drive the demand furan resin-based products over the forecast period.
The Asia Pacific market was followed by Europe which accounted for 28% share of global revenue in 2017 owing to high product demand from foundry industry and automotive sector mainly due to presence of major automobile manufacturing hubs including Germany, France Italy, Spain along with Eastern European countries such as Russia and Poland among others are expected tp boost market growth over next eight years or so.
Growth Factors:
- Increasing demand from end-use industries such as automotive, construction, and electrical & electronics
- Rising demand for lightweight and durable materials in automotive sector
- Growing construction industry in developing countries
- Increasing penetration of furan resin in developed markets
- Technological advancements that improve the properties of furan resin
Scope Of The Report
Report Attributes
Report Details
Report Title
Furan Resin Market Research Report
By Type
Furfuryl Alcohol Resin, Furfural Resin, Bran Ketone Resin, Branone-formaldehyde Resin
By Application
Paints & Plastics, Foundry Industry, Automotive, Adhesives & Sealants, Others
By Companies
DynaChem, Hongye Chemical, Penn A Kem, Nova Molecular technologies, Continetal Industries Group, Shenzhen Shu Hang Industrial Development, SolvChem, NeuChem, SweetLake Chemical, Novasynorganics, International Process Plants, CKE
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Furan Resin Market Report Segments:
The global Furan Resin market is segmented on the basis of:
Types
Furfuryl Alcohol Resin, Furfural Resin, Bran Ketone Resin, Branone-formaldehyde Resin
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Paints & Plastics, Foundry Industry, Automotive, Adhesives & Sealants, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- DynaChem
- Hongye Chemical
- Penn A Kem
- Nova Molecular technologies
- Continetal Industries Group
- Shenzhen Shu Hang Industrial Development
- SolvChem
- NeuChem
- SweetLake Chemical
- Novasynorganics
- International Process Plants
- CKE
Highlights of The Furan Resin Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Furfuryl Alcohol Resin
- Furfural Resin
- Bran Ketone Resin
- Branone-formaldehyde Resin
- By Application:
- Paints & Plastics
- Foundry Industry
- Automotive
- Adhesives & Sealants
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Furan Resin Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Furan resin is a type of organic compound that is composed of two or more aromatic hydrocarbons. Furan resin can be found in various products, including cigarettes, cigars, and other tobacco products.
Some of the key players operating in the furan resin market are DynaChem, Hongye Chemical, Penn A Kem, Nova Molecular technologies, Continetal Industries Group, Shenzhen Shu Hang Industrial Development, SolvChem, NeuChem, SweetLake Chemical, Novasynorganics, International Process Plants, CKE.
The furan resin market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Furan Resin Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Furan Resin Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Furan Resin Market - Supply Chain
4.5. Global Furan Resin Market Forecast
4.5.1. Furan Resin Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Furan Resin Market Size (000 Units) and Y-o-Y Growth
4.5.3. Furan Resin Market Absolute $ Opportunity
5. Global Furan Resin Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Furan Resin Market Size and Volume Forecast by Type
5.3.1. Furfuryl Alcohol Resin
5.3.2. Furfural Resin
5.3.3. Bran Ketone Resin
5.3.4. Branone-formaldehyde Resin
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Furan Resin Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Furan Resin Market Size and Volume Forecast by Application
6.3.1. Paints & Plastics
6.3.2. Foundry Industry
6.3.3. Automotive
6.3.4. Adhesives & Sealants
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Furan Resin Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Furan Resin Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Furan Resin Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Furan Resin Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Furan Resin Demand Share Forecast, 2019-2026
9. North America Furan Resin Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Furan Resin Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Furan Resin Market Size and Volume Forecast by Application
9.4.1. Paints & Plastics
9.4.2. Foundry Industry
9.4.3. Automotive
9.4.4. Adhesives & Sealants
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Furan Resin Market Size and Volume Forecast by Type
9.7.1. Furfuryl Alcohol Resin
9.7.2. Furfural Resin
9.7.3. Bran Ketone Resin
9.7.4. Branone-formaldehyde Resin
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Furan Resin Demand Share Forecast, 2019-2026
10. Latin America Furan Resin Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Furan Resin Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Furan Resin Market Size and Volume Forecast by Application
10.4.1. Paints & Plastics
10.4.2. Foundry Industry
10.4.3. Automotive
10.4.4. Adhesives & Sealants
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Furan Resin Market Size and Volume Forecast by Type
10.7.1. Furfuryl Alcohol Resin
10.7.2. Furfural Resin
10.7.3. Bran Ketone Resin
10.7.4. Branone-formaldehyde Resin
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Furan Resin Demand Share Forecast, 2019-2026
11. Europe Furan Resin Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Furan Resin Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Furan Resin Market Size and Volume Forecast by Application
11.4.1. Paints & Plastics
11.4.2. Foundry Industry
11.4.3. Automotive
11.4.4. Adhesives & Sealants
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Furan Resin Market Size and Volume Forecast by Type
11.7.1. Furfuryl Alcohol Resin
11.7.2. Furfural Resin
11.7.3. Bran Ketone Resin
11.7.4. Branone-formaldehyde Resin
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Furan Resin Demand Share, 2019-2026
12. Asia Pacific Furan Resin Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Furan Resin Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Furan Resin Market Size and Volume Forecast by Application
12.4.1. Paints & Plastics
12.4.2. Foundry Industry
12.4.3. Automotive
12.4.4. Adhesives & Sealants
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Furan Resin Market Size and Volume Forecast by Type
12.7.1. Furfuryl Alcohol Resin
12.7.2. Furfural Resin
12.7.3. Bran Ketone Resin
12.7.4. Branone-formaldehyde Resin
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Furan Resin Demand Share, 2019-2026
13. Middle East & Africa Furan Resin Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Furan Resin Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Furan Resin Market Size and Volume Forecast by Application
13.4.1. Paints & Plastics
13.4.2. Foundry Industry
13.4.3. Automotive
13.4.4. Adhesives & Sealants
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Furan Resin Market Size and Volume Forecast by Type
13.7.1. Furfuryl Alcohol Resin
13.7.2. Furfural Resin
13.7.3. Bran Ketone Resin
13.7.4. Branone-formaldehyde Resin
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Furan Resin Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Furan Resin Market: Market Share Analysis
14.2. Furan Resin Distributors and Customers
14.3. Furan Resin Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. DynaChem
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Hongye Chemical
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Penn A Kem
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Nova Molecular technologies
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Continetal Industries Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Shenzhen Shu Hang Industrial Development
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SolvChem
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. NeuChem
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SweetLake Chemical
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Novasynorganics
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. International Process Plants
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. CKE
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook