Furfural Market Is Encouraged to Reach USD 1012.6 Million by 2033 at a CAGR of 5.8%

Introduction

The global furfural market, which was worth about $576.2 million in 2023, is expected to grow to approximately $1012.6 million by 2033. This growth, happening at a rate of 5.8% each year, is largely because furfural is used to make other useful chemicals like furfuryl alcohol, which is important for creating resins and other materials in industries. There’s a rising demand for eco-friendly and bio-based products, which furfural fits into well. It’s also used in farming to help control pests.

Even with its advantages, there are some hurdles like its high production costs and competition from other solvents. Also, there are strict environmental rules to consider because furfural can be harmful, especially in food and medicine. But, there are advancements being made, especially in Asia-Pacific countries like China and India, which might lead to better production methods and lower costs, helping the market grow. This region is also expected to lead in furfural production due to its abundant raw materials and large industries that use furfural.

Companies like KRBL Ltd., although mainly known for its work in the rice industry, are branching out into furfural production using rice husks. This move not only utilizes what would otherwise be waste but also fits into broader efforts to operate sustainably.

Another company, LENZING AG, uses wood to make furfural through a unique process that aligns with its sustainable practices. It’s part of their broader strategy to use renewable resources in their production processes, showing how furfural is part of a shift toward more environmentally friendly manufacturing methods.

Key Takeaways

• Market Growth Projection: The Furfural market is anticipated to grow significantly, with an expected worth of around USD 1012.6 Million by 2033, marking a substantial increase from USD 576.2 Million in 2023, at a CAGR of 5.8%.
• Process Analysis: The Chinese Batch Process dominates, accounting for 80.3% of global revenue in 2023. Rosenlew Continuous Process is reliable but less preferred due to high production costs. Quaker Batch Process, an older method, remains in use despite modifications.
• Raw Material Influence: Corncob, with over 68.5% market share in 2023, stands out due to its high yield and extensive use in furfural production. Sugarcane bagasse, despite being easily available, faces challenges in storage and transportation, limiting its utilization.
• Application Areas: Furfuryl Alcohol leads with 82.1% market share in 2023, favored for its diverse applications in various industries like automotive and electronics. Solvents find steady demand in paints, coatings, and cleaning products due to their dissolving properties.
• End-Use Significance: Refineries hold a dominant share (48.9% in 2023) due to Furfural’s use as a solvent and agrochemical component. Its role in pharmaceuticals, agriculture, and food & beverage industries continues to expand.

Statistics

• The substance has a boiling point of 162°C at 1013 hPa and a density of 1.1563 g/cm³ at 25°C. Its explosion limit ranges from 2.1% to 19.3% by volume, and it has a flash point of 58°C.
• The substance has an ignition temperature of 315°C and a melting point of -38.7°C. Its vapor pressure is 1 hPa at 20°C, and it has a solubility of 83 g/l.
• Storage Store for furfural is below +30°C.
• When no microbe existed in the culture system, the aerated airflow blew approximately 50% volatile furfural out within 50 hours, but no furfuryl alcohol or furoic acid was observed.
• The data accounted for 75% of the original furfural (10 mmol) approximately, indicating that approximately 25% of the original furfural was lost by the aeration at 0.625 vvm.
• The sum of furfuryl alcohol and furoic acid was approximately 5.8 mmol after 30 hours, accounting 80% of the original furfural (7.2 mmol), thus, approximately 20% of furfural was lost.
• Furfural was completely degraded after 64 hours, compared to only 35% degradation of furfural in the anaerobic condition over the same time period.
• The rates were similar for furfural degradation and furfuryl alcohol formation, and decreased furoic acid level at the two air input rates (0.625 vvm and 1.25 vvm).
• The experiments of furfural and HMF degradation were carried out in the same 3-L fermentor containing 1 L of fermentation medium or inorganic salt medium with 1.0 g/L of furfural or HMF.
• The fermentation was inoculated by the seed culture at 20% (v/v) and cultured at 28°C and 100 rpm for approximately one week until the furfural or HMF added was almost completely degraded.
• Furfural is a characteristic compound present in dilute acid hydrolysates, particularly in hydrolysates from deciduous woods, in which the furfural concentration can be about 2 to 3 g/liter.
• It was found that furfural was mainly converted to furfuryl alcohol by exponentially growing cells under both conditions and that the specific conversion rate was 0.6 g/g ·
• The aim of this study was to ascertain the concentration of furfural in mead worts, prepared at room temperature (unsaturated) and heated to boiling for 10 to 70 min (saturated), with an extract of 25 to 45°Brix.

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Emerging Trends

• Sustainable Production: There is an increasing emphasis on utilizing renewable biomass, like agricultural waste, for furfural production, reducing the dependence on fossil fuels and enhancing sustainability.
• Biofuel Applications: Furfural is being used more frequently in the production of biofuels and biofuel additives, which supports the transition to cleaner energy sources.
• Green Chemistry: Advances in green chemistry are improving the production process of furfural, making it more environmentally friendly and efficient.
• Versatile Uses: Furfural is being applied in new ways across various industries, such as in the manufacturing of solvents, resins, and pharmaceuticals, which broadens its market reach.
• Market Growth: The furfural market is poised for growth, driven by increasing demand in sectors like agriculture, textiles, and automotive.
• Regulatory Support: Government policies are increasingly backing the use of furfural, promoting materials that are renewable and eco-friendly, thus boosting its market adoption.

Use Cases

• Biofuels: Furfural is utilized in the production of biofuels like bioethanol. The global biofuels market is expected to reach $250 billion by 2025, significantly supported by renewable sources where furfural is involved.
• Chemical Intermediates: Furfural is a crucial component in producing chemicals such as furfuryl alcohol, widely used in resins and adhesives. The market for furfuryl alcohol is projected to grow to $1.2 billion by 2028.
• Pharmaceuticals: Furfural is used in synthesizing various pharmaceuticals, contributing to a global pharmaceutical market forecasted to hit $1.5 trillion by 2025.
• Agricultural Chemicals: It’s employed in the production of herbicides and pesticides. The global agrochemical market, which includes these products, is anticipated to reach $350 billion by 2024.
• Textiles: Furfural aids in the manufacturing of textile dyes and finishing agents. The textile chemicals market is expected to grow to $29 billion by 2025, with contributions from furfural-based products.
• Food Industry: Sometimes, furfural is used in flavoring and food additives. The global market for food additives, where furfural has niche applications, is projected to be valued at $90 billion by 2025.

Key Players

KRBL Ltd. is primarily known for its dominance in the rice industry, but the company has diversified its operations into the furfural market. KRBL utilizes agricultural by-products, specifically rice husk, to produce furfural, a valuable chemical used in various industrial applications, including resins, solvents, and pharmaceuticals. This strategic move not only leverages its vast access to biomass but also aligns with sustainable practices by reducing waste and generating additional revenue streams​.

LENZING AG is a key player in the furfural market, utilizing wood as its primary raw material in a unique biorefinery process. Known for its global footprint in textile fibers and pulp production, Lenzing integrates furfural production into its operations as part of its commitment to sustainability. The company’s approach highlights the importance of renewable resources in chemical production, and its furfural is recognized for its environmental benefits, including receiving the “biobased” certificate from the U.S. Department of Agriculture.

Pennakem, LLC is a prominent player in the furfural sector, utilizing its expertise in renewable resource chemistry. As part of the Minakem Group, Pennakem operates globally, supplying furfural and its derivatives, which are essential in various industries, including pharmaceuticals, agrochemicals, and plastics. The company’s operations emphasize sustainability, starting from agricultural by-products like corn cobs and sugarcane bagasse. Pennakem converts furfural into value-added products such as furan, furfuryl alcohol, and tetrahydrofurfuryl alcohol, which are marketed worldwide.

Hongye Holding Group Corporation Limited is a key global supplier in the furfural industry, recognized for its large-scale production of furfural and related products. The company, headquartered in China, produces furfural primarily from agricultural residues such as corncobs, making it a crucial player in sustainable chemical manufacturing. Hongye’s furfural is widely used in various applications, including resins, solvents, and pharmaceuticals, reinforcing its position as a leader in the renewable chemicals market. The company’s commitment to innovation and sustainability drives its growth in the global furfural market.

Silvateam S.p.A operates in the furfural sector by leveraging its expertise in biomass processing. The company, with a history dating back to 1854, primarily focuses on producing tannins and other specialty chemicals. Silvateam uses agricultural byproducts, such as chestnut wood, to extract furfural, which is then utilized in the production of resins, solvents, and other industrial applications. This approach aligns with their commitment to sustainability, making them a significant player in the renewable chemicals industry.

Tanin d.d., a Slovenian company, is known for its strong presence in the furfural market. It specializes in the production of tannins and furfural from various plant materials. The company utilizes advanced technologies to extract furfural, which is then used in multiple industries, including the manufacturing of plastics, pharmaceuticals, and agrochemicals. Tanin d.d.’s focus on sustainable production processes and innovative applications positions it as a key contributor to the growth of the global furfural market.

TransFurans Chemicals bvba is a key player in the furfural industry, specializing in the production and development of high-quality furfural and its derivatives. Based in Belgium, the company focuses on sustainable and innovative chemical processes to manufacture furfural from renewable resources like agricultural by-products. They are known for their advanced technology and commitment to environmental responsibility.

Zibo Xinye Chemical Co. Ltd is a major manufacturer of furfural in China, recognized for its efficient production processes and high purity products. The company leverages modern technology to produce furfural from corncobs and other biomass, catering to various industrial applications. Their focus on cost-effectiveness and quality control helps them stay competitive in the global market.

Arcoy Industries Pvt. Ltd. is a notable player in the furfural industry, focusing on the production of this valuable chemical from agricultural by-products. They utilize advanced technology to convert these raw materials into high-purity furfural, which is used in various industrial applications, including solvents and resins. The company is recognized for its commitment to sustainable practices and efficient manufacturing processes.

GoodRich Sugar operates in the furfural sector by leveraging its expertise in sugarcane processing to produce furfural, a key component in the chemical industry. Their production involves extracting furfural from bagasse, a by-product of sugarcane, which is then used in various industrial applications such as adhesives and pharmaceuticals. GoodRich Sugar’s focus on integrating eco-friendly practices into their production process helps them stay competitive in the market.

Conclusion

Furfural is an important chemical used in making things like solvents, glues, and medicines. It’s made by breaking down leftover farm materials such as corn cobs and sugarcane bagasse. This is great for the environment because it uses waste products instead of new resources. The demand for furfural is growing, especially in industries like car manufacturing and building construction. As technology improves and companies focus on being more eco-friendly, the furfural market is expected to continue growing and becoming more competitive.

Sources:

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• https://www.lenzingindustrial.com/Application/the-lenzing-biorefinery
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