Market Overview:
The global furfural solvent market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for furfuryl alcohol and solvents from various applications such as paints & coatings, agricultural formulations, pharmaceuticals, and petroleum refining. In addition, the growing demand for furfural derivatives in Asia Pacific is also contributing to the growth of this market. However, volatility in prices of raw materials may restrain the growth of this market during the forecast period.
Product Definition:
Furfural is an organic compound with the formula C5H4O2. It is a colorless liquid that is soluble in water and alcohol. Furfural is produced by the hydrolysis of furan.
The main use for furfural solvent today is in the production of 2,5-furandicarboxylic acid (FDCA), which finds application in the manufacture of polyethylene terephthalate (PET) plastic bottles and fibers.
Furfuryl Alcohol:
Furfuryl alcohol is a furan derivative and an organic compound. It has a molecular formula of C5H10O2 and a structural formula of (C5H9)O. Furfuryl alcohol is also known as tetrahydrofuran, THFA, or 2-tetramethylethyl alcohol.
Solvents:
Solvents are basically used to dissolve another substance so that it can be mixed with other materials or so that it can be taken away from one place and placed in another. Solvent is also known as a liquid, diluent, or filler. It is usually made up of organic compounds like alcohols, glycol ethers, acetates esters and ketones among others.
Application Insights:
The petroleum refining segment accounted for the largest revenue share of over 40% in 2017. Furfuryl alcohol is used as a solvent in the petroleum refining industry. It is primarily used to extract oils from crude oil and to dissolve minerals, metals, and other compounds found in oil fields. Petroleum refineries use it along with other solvents such as aromatics, olefins & polymers, ketones & esters to name a few. The agricultural formulations segment is expected witness significant growth over the forecast period owing to its increasing demand from crop protection products manufacturers across various regions of the world including North America and Europe among others.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand for furfuryl alcohol from various end-use industries such as paints & coatings, pharmaceuticals, and petroleum refining. China is one of the largest producers of furfuryl alcohol owing to easy availability of raw materials coupled with low manufacturing cost as compared to other countries in the world.
The Asia Pacific was followed by Europe which accounted for a share of 25% in terms of volume in 2017 on account high production volumes associated with pharmaceuticals application segmentation worldwide.
Growth Factors:
- Increasing demand for furfural solvent in various end-use industries such as pharmaceuticals, agrochemicals, and flavors & fragrances is expected to drive the market growth.
- Growing environmental concerns over the use of traditional solvents is projected to fuel the demand for furfural solvent in coming years.
- Rising investments by key players in R&D activities to develop new applications of furfural solvent is likely to propel the market growth over the forecast period.
- Stringent government regulations towards VOC emissions from various industrial processes are anticipated to create opportunities for furfural solvent market during the forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Furfural Solvent Market Research Report
By Type
Furfuryl Alcohol, Solvents, Pharmaceuticals, Chemical Intermediates
By Application
Petroleum Refining, Agricultural Formulations, Paints & Coatings, Pharmaceuticals
By Companies
Transfurans Chemicals, Illovo Sugar, Teijing North Furfural, Goodrich Sugar & Chemical, Alchem Chemical, Linzi Organic Chemical, Xing Tai Chunlei Furfural Alcohol, Penn Specialty Chemicals, BASF, The Good Scents, Furfural Espanol
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
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Furfural Solvent Market Report Segments:
The global Furfural Solvent market is segmented on the basis of:
Types
Furfuryl Alcohol, Solvents, Pharmaceuticals, Chemical Intermediates
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
Petroleum Refining, Agricultural Formulations, Paints & Coatings, Pharmaceuticals
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:
- Transfurans Chemicals
- Illovo Sugar
- Teijing North Furfural
- Goodrich Sugar & Chemical
- Alchem Chemical
- Linzi Organic Chemical
- Xing Tai Chunlei Furfural Alcohol
- Penn Specialty Chemicals
- BASF
- The Good Scents
- Furfural Espanol
Highlights of The Furfural Solvent 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
- Solvents
- Pharmaceuticals
- Chemical Intermediates
- By Application:
- Petroleum Refining
- Agricultural Formulations
- Paints & Coatings
- Pharmaceuticals
- 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 Furfural Solvent 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Furfural solvent is a type of organic solvent that is used to dissolve substances such as oils, waxes, and resins. It has a sweet odor and a slightly bitter taste.
Some of the key players operating in the furfural solvent market are Transfurans Chemicals, Illovo Sugar, Teijing North Furfural, Goodrich Sugar & Chemical, Alchem Chemical, Linzi Organic Chemical, Xing Tai Chunlei Furfural Alcohol, Penn Specialty Chemicals, BASF, The Good Scents, Furfural Espanol.
The furfural solvent 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. Furfural Solvent 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. Furfural Solvent Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Furfural Solvent Market - Supply Chain
4.5. Global Furfural Solvent Market Forecast
4.5.1. Furfural Solvent Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Furfural Solvent Market Size (000 Units) and Y-o-Y Growth
4.5.3. Furfural Solvent Market Absolute $ Opportunity
5. Global Furfural Solvent 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. Furfural Solvent Market Size and Volume Forecast by Type
5.3.1. Furfuryl Alcohol
5.3.2. Solvents
5.3.3. Pharmaceuticals
5.3.4. Chemical Intermediates
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Furfural Solvent 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. Furfural Solvent Market Size and Volume Forecast by Application
6.3.1. Petroleum Refining
6.3.2. Agricultural Formulations
6.3.3. Paints & Coatings
6.3.4. Pharmaceuticals
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Furfural Solvent 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. Furfural Solvent 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 Furfural Solvent 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. Furfural Solvent 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 Furfural Solvent Demand Share Forecast, 2019-2026
9. North America Furfural Solvent 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 Furfural Solvent 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 Furfural Solvent Market Size and Volume Forecast by Application
9.4.1. Petroleum Refining
9.4.2. Agricultural Formulations
9.4.3. Paints & Coatings
9.4.4. Pharmaceuticals
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Furfural Solvent Market Size and Volume Forecast by Type
9.7.1. Furfuryl Alcohol
9.7.2. Solvents
9.7.3. Pharmaceuticals
9.7.4. Chemical Intermediates
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 Furfural Solvent Demand Share Forecast, 2019-2026
10. Latin America Furfural Solvent 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 Furfural Solvent 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 Furfural Solvent Market Size and Volume Forecast by Application
10.4.1. Petroleum Refining
10.4.2. Agricultural Formulations
10.4.3. Paints & Coatings
10.4.4. Pharmaceuticals
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Furfural Solvent Market Size and Volume Forecast by Type
10.7.1. Furfuryl Alcohol
10.7.2. Solvents
10.7.3. Pharmaceuticals
10.7.4. Chemical Intermediates
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 Furfural Solvent Demand Share Forecast, 2019-2026
11. Europe Furfural Solvent 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 Furfural Solvent 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 Furfural Solvent Market Size and Volume Forecast by Application
11.4.1. Petroleum Refining
11.4.2. Agricultural Formulations
11.4.3. Paints & Coatings
11.4.4. Pharmaceuticals
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Furfural Solvent Market Size and Volume Forecast by Type
11.7.1. Furfuryl Alcohol
11.7.2. Solvents
11.7.3. Pharmaceuticals
11.7.4. Chemical Intermediates
11.8. Basis Point Share (BPS) Analysis by Type
11.9. -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 Furfural Solvent Demand Share, 2019-2026
12. Asia Pacific Furfural Solvent 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 Furfural Solvent 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 Furfural Solvent Market Size and Volume Forecast by Application
12.4.1. Petroleum Refining
12.4.2. Agricultural Formulations
12.4.3. Paints & Coatings
12.4.4. Pharmaceuticals
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Furfural Solvent Market Size and Volume Forecast by Type
12.7.1. Furfuryl Alcohol
12.7.2. Solvents
12.7.3. Pharmaceuticals
12.7.4. Chemical Intermediates
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 Furfural Solvent Demand Share, 2019-2026
13. Middle East & Africa Furfural Solvent 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 Furfural Solvent 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 Furfural Solvent Market Size and Volume Forecast by Application
13.4.1. Petroleum Refining
13.4.2. Agricultural Formulations
13.4.3. Paints & Coatings
13.4.4. Pharmaceuticals
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Furfural Solvent Market Size and Volume Forecast by Type
13.7.1. Furfuryl Alcohol
13.7.2. Solvents
13.7.3. Pharmaceuticals
13.7.4. Chemical Intermediates
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 Furfural Solvent Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Furfural Solvent Market: Market Share Analysis
14.2. Furfural Solvent Distributors and Customers
14.3. Furfural Solvent Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Transfurans Chemicals
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Illovo Sugar
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Teijing North Furfural
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Goodrich Sugar & Chemical
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Alchem Chemical
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Linzi Organic Chemical
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Xing Tai Chunlei Furfural Alcohol
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Penn Specialty Chemicals
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. BASF
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. The Good Scents
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Furfural Espanol
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
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
