According to IMARC Group’s latest report, titled “Furfuryl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global furfuryl alcohol market growth rate was a CAGR of around 3% during 2015-2020. Looking forward, IMARC Group expects the market to continue its moderate growth during 2021-2026.
Furfuryl alcohol (C5H6O2) is a pale yellow or colorless organic compound primarily obtained from waste biomass, such as rice hulls, corncobs, sugarcane bagasse, etc. It can be manufactured by the catalytic reduction of furfuryl using nickel and copper chromium oxide or continuous vapor-phase hydrogenation of furfural. Furfuryl alcohol finds extensive application as a solvent in making dark corrosion-resistant resins that turns amber to black in the air. It can also be used for paint-removing cleaning purposes. Currently, furfuryl alcohol is widely adopted as a flavoring agent in the food and beverages (FB) industry.
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Furfuryl Alcohol Market Trends:
The expanding construction sector is primarily driving the demand for furfuryl alcohol across the globe. Furthermore, it is utilized as a filler in the production of textiles, paints, plastics, etc., and as a binding agent for sand and other related products. Additionally, furfuryl alcohol is also used in surface treatments of metals, corrosion inhibitors, hardening agents, rust inhibitors, polishing agents, water repellants, etc., thereby propelling the market growth. Apart from this, the rising product adoption for manufacturing roasters, paper plates, cutlery, etc., is further augmenting the market growth. Moreover, the increasing environmental concerns are also catalyzing the demand for furfuryl alcohol obtained from hydrolyzed biomass waste, which is expected to bolster the global market in the coming years.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- DalinYebo
- Furnova Polymers Ltd
- Hebei Xingtai Chunlei Furfuryl Alcohol Co. Ltd.
- Hongye Holding Group Corporation Limited
- Illovo Sugar Africa (PTY) Ltd (Associated British Foods plc (ABF))
- NC Nature Chemicals Dr. Kruppa GmbH
- Pennakem LLC
- Shandong Crownchem Industries Co. Ltd.
- Silvateam S.p.a.
- TransFurans Chemicals bvba
- Xian Welldon Trading Co. Ltd.
Key Market Segmentation:
The report has categorized the market based on application, end use industry and region.
Breakup by Application:
- Resins
- Solvent
- Corrosion Inhibitors
- Others
Breakup by End Use Industry:
- Foundry
- Agriculture
- Paints and Coatings
- Pharmaceuticals
- Food and Beverages
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key highlights of The Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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