Summary

Furfural Derivatives Market Growth & Trends

The global furfural derivatives market size is expected to reach USD 21.84 billion by 2030, registering a CAGR of 7.24% from 2023 to 2030, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the growing demand for sustainable and bio-based chemicals along with the wide range of applications of furfural derivatives in different industries. Furfural derivatives can be used as key components in the production of biofuels and other green chemicals. The shift toward renewable energy sources and sustainable chemical production is bolstering their consumption globally. Furfural is derived from agricultural waste products like corncobs and sugarcane bagasse.

Thus, the products are considered more environmentally friendly and sustainable than some petrochemical alternatives, thereby contributing to green chemistry initiatives. These derivatives find application in a wide range of industries, including chemicals, pharmaceuticals, agriculture, electronics, and others, which makes them versatile. Asia Pacific was the dominating region and held a revenue share of 66.1% in 2022. The region has abundant sources of agricultural residues like rice husks and sugarcane bagasse, which can be used as feedstock for furfural production. This availability of raw materials has led to increased interest in these derivatives in the region. Environmental awareness and sustainability initiatives have been on the rise in Asia Pacific. Furfural derivatives, being derived from renewable sources, align well with these goals, leading to increased adoption in eco-friendly applications.

Furfural Derivatives Market Report Highlights

• Tetrahydrofuran was the dominating product segment in 2022 accounting for a revenue share of 46.2% due to its growing usage for producing poly-tetramethylene glycol (PTMEG), which is a polymer extensively utilized for manufacturing urethane elastomers and fiber

• Maleic anhydride was the second-largest product segment and accounted for a significant revenue share in 2022 owing to its growing demand for unsaturated polyester resins (UPR), which finds application in automotive & marine applications

• Europe was the second-largest region in 2022 and is predicted to grow at a considerable growth rate from 2023 to 2030 as the products play a crucial role in the production of biofuels, which are essential for reducing greenhouse gas emissions and meeting renewable energy targets of the region

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Table of Contents

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Furfural Derivatives: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Furfural Derivatives Market Outlook
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Trends
3.2.2 Manufacturing & Technology Trends
3.2.3 Sales Channel Analysis
3.3 Price Trend Analysis
3.3.1 Factors Influencing Prices
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.2 Market Restraint Analysis
3.5.3 Industry Opportunities Analysis
3.5.4 Industry Challenges Analysis
3.6 Industry Analysis Tools
3.6.1 PORTER’s Analysis
3.6.2 Macroeconomic Analysis- PESTLE Analysis
Chapter 4 Furfural Derivatives: Sustainability Analysis
4.1 Agriculture Contribution to GDP (%)
4.2 % Yield Output by Sustainable Production
4.3 Environmental Concerns
4.4 Planned Investments Towards Sustainable Production
4.5 Dependency on Fossil Based Products
4.6 SWOT Analysis
Chapter 5 Furfural Derivatives Market: Product By Application Trend Analysis
5.1 Application Movement Analysis & Market Share, 2018 - 2030
5.1.1 1-5 Pentanediol
5.1.1.1 Polyester Resin
5.1.1.2 Plasticizer
5.1.1.3 Polyurethane
5.1.1.4 Glutaraldehyde
5.1.1.5 Other Applications
5.1.2 Furoic Acid
5.1.2.1 Plastic Plasticizers
5.1.2.2 Food Preservatives
5.1.2.3 Pharmaceutical Intermediates
5.1.2.4 Other Applications
5.1.3 Tetrahydrofuran
5.1.3.1 Polytetramethylene Ether Glycol
5.1.3.2 Solvents
5.1.3.3 Other Applications
5.1.4 2 Methyl Tetrahydrofuran
5.1.4.1 Chemicals
5.1.4.2 Electronics
5.1.4.3 Medical
5.1.4.4 Oil
5.1.4.5 Other Applications
5.1.5 2 Methylfuran
5.1.5.1 Pharmaceutical
5.1.5.2 Agricultiure
5.1.5.3 Chemical
5.1.5.4 Other Applications
5.1.6 Maleic Anhydride
5.1.6.1 Unsaturated Polyester Resin
5.1.6.2 1,4 Butanediol
5.1.6.3 Additives (Lubricants & Oil)
5.1.6.4 Copolymers
5.1.6.5 Other Applications
5.1.7 Cyclopentanone
5.1.7.1 Personal Care Products
5.1.7.2 Electronics
5.1.7.3 Insulating Construction Materials
5.1.7.4 Fuel and Fuel Additives
5.1.7.5 Other Applications
5.1.8 Tetrahydrofurfuyl Alcohol
5.1.8.1 Resins
5.1.8.2 Solvents
5.1.8.3 Corrosion Inhibitors
5.1.8.4 Other Applications
Chapter 6 Furfural Derivatives Market: Product By Route Estimates & Trend Analysis
6.1 End-Use Movement Analysis & Market Share, 2018 - 2030
6.1.1 1-5 Pentanediol
6.1.1.1 Bio-based
6.1.1.2 Fossil-based
6.1.2 Furoic Acid
6.1.2.1 Bio-based
6.1.2.2 Fossil-based
6.1.3 Tetrahydrofuran
6.1.3.1 Bio-based
6.1.3.2 Fossil-based
6.1.4 2 Methyl Tetrahydrofuran
6.1.4.1 Bio-based
6.1.4.2 Fossil-based
6.1.5 2 Methylfuran
6.1.6 Maleic Anhydride
6.1.6.1 Bio-based
6.1.6.2 Fossil-based
6.1.7 Cyclopentanone
6.1.7.1 Bio-based
6.1.7.2 Fossil-based
6.1.8 Tetrahydrofurfuyl Alcohol
Chapter 7 Furfural Derivatives Market: Regional Estimates & Trend Analysis
7.1 Furfural Derivatives Market: Regional Outlook
7.2 North America
7.2.1 North America Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.2.2 U.S.
7.2.2.1 U.S. Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.2.3 Canada
7.2.3.1 Canada Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.2.4 Mexico
7.2.4.1 Mexico Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.3 Europe
7.3.1 Europe Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.3.2 Germany
7.3.2.1 Germany Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.3.3 UK
7.3.3.1 UK Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.3.4 France
7.3.4.1 France Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.3.5 Italy
7.3.5.1 Italy Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.4 Asia Pacific
7.4.1 Asia Pacific Furfural Derivatives Market Estimates & Forecasts, 2012-2030, (Tons) (USD Thousand)
7.4.2 China
7.4.2.1 China Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.4.3 India
7.4.3.1 India Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.4.4 Japan
7.4.4.1 Japan Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.4.5 South Korea
7.4.5.1 South Korea Furfural Derivatives Market Estimates & Forecasts and Trend Analysis, 2018 - 2030 (Tons) (USD Thousand)
7.5 Central & South America
7.5.1 Central & South America Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.5.2 Brazil
7.5.2.1 Brazil Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.5.3 Argentina
7.5.3.1 Argentina Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.6 Middle East & Africa
7.6.1 Middle East & Africa Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.6.2 Saudi Arabia
7.6.2.1 Saudi Arabia Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
7.6.3 South Africa
7.6.3.1 South Africa Furfural Derivatives Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Thousand)
Chapter 8 Competitive Landscape
8.1 Participant’s Overview
8.2 Financial Performance
8.3 Product Benchmarking
8.4 Company/Competition Categorization
8.5 Key Company Positioning Analysis, 2022
8.6 Vendor landscape
8.6.1 List Of Distributors & Channel Partners
8.6.2 List Of Potential End-Users
8.7 Company Heat Map Analysis
8.8 Key Strategy Mapping
8.9 Company Listing (Business Overview, Financial Performance, Product Benchmarking)
8.9.1 Pyran
8.9.2 Pennakem, LLC
8.9.3 TransFurans Chemicals bvba
8.9.4 BASF SE
8.9.5 UBE Corporation
8.9.6 Yuanli Chemical Group
8.9.7 Hefei Home Sunshine Pharmaceutical Technology Co., Ltd.
8.9.8 AB Enterprises
8.9.9 Hefei TNJ Chemical Industry Co.,Ltd.
8.9.10 International Furan Chemicals B.V.