Global Furfural Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

This report extensively covers different segments of Global Furfural Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns). Furfural is widely used as a solvent or intermediate in a variety of end-use industries such as foundry, agriculture, paints and coatings, pharmaceuticals, refineries, chemicals, automotive, and construction. Over the forecast period, the growing construction sector is expected to supplement product demand in several refractory materials such as ceramics, bricks, and fiberglass composites. Furthermore, rising demand for sustainable products is expected to drive demand due to the depletion of fossil fuel resources.

Global Furfural Market Analysis

In this report, the Global Furfural Market has been segmented by Raw Material, Application, End User and Geography.

Global Furfural Market, Segmentation by Geography

In this report, the Global Furfural Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Find below the list of Countries covered in each of the aforementioned geographical regions:

North America - United States, Canada and Mexico

Latin America - Brazil, Argentina and Rest of Latin America

Europe - Germany, United Kingdom, France, Italy, Spain and Rest of Europe

Asia Pacific - Japan, China, India, Australia & New Zealand, South Korea, ASEAN (Association of South East Asian Nations) and Rest of Asia Pacific

Middle East & Africa - GCC Countries, Egypt, Israel, South Africa, Rest of Middle East & Africa

This report provides market size in USD Million and Year on Year (YOY) percentage growth analysis for the Furfural Market in all the Regions and Countries (specified above) for historic (2020 - 2023) and forecast (2024 - 2030) Periods with 2023 considered as the base year.

This report also provides an analysis of why the market size of Furfural in various regions and countries is increasing or decreasing with time along with the reasons for changes in the YOY growth with time.

This report provides an in depth analysis of various factors that impact the dynamics of Global Furfural Market. These factors include; Market Drivers, Restraints and Opportunities Analysis, Market Opportunity Mapping, PEST (Political, Economic, Social and Technological) Analysis and Porter's Five Forces Analysis.

Drivers, Restraints and Opportunity Analysis

Market Opportunity Map

This report provides market opportunity map for Furfural Market. The opportunity map (by market segments; Raw Material, Application and End User) is calculated based on current year market estimates, CAGR and collective revenue over the forecast period. Since, CAGR has been estimated considering all the factors impacting the market; starting from the company's presence, buyer behaviour, to government interference or support. The opportunity map inherently considers all the aforementioned factors impacting the market. The bubble size reflects the estimated opportunity for a particular segment or region, therefore, bigger the bubble size, larger the opportunity.

PEST (Political, Economic, Social and Technological) Analysis

This report provides PEST analysis of Furfural Market. Various factors such as government interference in the market such as regulations (which include but are not limited to pricing and intellectual property policies) that might impact the market are analysed.

This report also provides an analysis of Economic factors affecting the market such as; purchasing power, which directly influences the market growth.

This report also provides an analysis of social factors such as social norms or cultural beliefs inhibiting or promoting the growth of the market

As part of PEST analysis, this report also provides analysis of the impact of Technological factors on growth or decline of a market.

Porter's Five Force Analysis

This report provides Porter's Five Forces analysis of Global Furfural Market, which include; Bargaining Power of Suppliers, Bargaining Power of Buyers, Threat of New Entrants, Threat of Substitutes and Competitive Rivalry.

Bargaining Power of Suppliers:

Various factors such as; Supplier Switching Costs Relative to Firm Switching Costs, Supplier Competition and Possibility of Forward Integration, Presence of Substitute Inputs, Strength of Distribution Channels, and Supplier Concentration to Firm Concentration Ratio would be analysed to estimate bargaining power of suppliers in the Global Furfural Market. Bargaining power of suppliers will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value. Furfural production is currently characterized by outdated manufacturing technologies, high steam consumption, and high acid consumption, all of which result in a significantly low product yield or output. As a result, many businesses are focusing on developing new processes to reduce overall energy consumption while increasing product yield during the purification step. Manufacturers are more likely to use a combination of the most effective biomass and chemical techniques, resulting in a significant reduction in operational costs.

Bargaining Power of Buyers:

Various factors such as; Buyer Concentration to Firm Concentration Ratio, Buyer Switching Costs, Availability of Existing Substitute Products, Buyer Price Sensitivity, and Degree of Dependency upon Existing Channels of Distribution would be analysed to estimate bargaining power of buyers in the Global Furfural Market. Bargaining power of buyers will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Threat of Substitutes:

Various factors such as; Availability of Substitutes, Number of Available Substitutes, Price of Substitute Products, Buyer Switching Costs, and Buyer Propensity to Substitute would be analysed to estimate threat of substitutes in the Global Furfural Market. Threat of substitutes will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Threat of New Entrants:

Various factors such as; Barriers to Entry, Economies of Scale, Product Differentiation, Customer Loyalty, Network Effect, and Access to Distribution Channels would be analysed to estimate threat of new entrants in the Global Furfural Market. Threat of new entrants will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Competitive Rivalry:

Various factors such as; Firm concentration Ratio, Level of Advertising Expense, Sustainable Competitive Advantage through Innovation, Competitive Strategy and Degree of Transparency would be analysed to estimate competitive rivalry in the Global Furfural Market. Competitive rivalry will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Key players in Global Furfural Market include, Arcoy Industries Pvt. Ltd, Central Romana Corporation, Ltd, Hongye Holdings Group Co., Ltd., ILLOVO SUGAR AFRICA (PTY) LTD, Lenzing AG and Silvateam.

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis

This report also provides Heat map analysis of Products/Services Offered by different companies operating in this market.