Furfural Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Furfural Manufacturers and the Market is Segmented by Raw Material (Corncobs, Rice Hulls, Cotton Hulls, Sugarcane Bagasse, and Other Raw Materials), Application (Furfuryl Alcohol, Solvent, Intermediate, and Other Applications), and Geography (Asia-Pacific, North America, Europe, and the Rest of the World). The Market Size and Forecasts for Furfural are Provided in Terms of Volume (tons) for the Above-Mentioned Segments.

Furfural Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Furfural Market Size

Furfural Market Summary
Study Period 2019 - 2030
Market Volume (2025) 402.42 kilotons
Market Volume (2030) 479.57 kilotons
CAGR 3.57 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Furfural Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Furfural Market with other markets in Chemicals & Materials Industry

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Furfural Market Analysis

The Furfural Market size is estimated at 402.42 kilotons in 2025, and is expected to reach 479.57 kilotons by 2030, at a CAGR of 3.57% during the forecast period (2025-2030).

The COVID-19 pandemic initially disrupted the furfural market due to supply chain interruptions and reduced industrial activities. However, as global economies gradually recovered, there was an increased demand for furfural, particularly in sectors like pharmaceuticals, agricultural chemicals, and biofuels. The growth was driven by the rising interest in sustainable and bio-based chemicals, with furfural being derived from agricultural residues.

  • Over the mid-term, the significant factors driving the growth of the market studied are the increasing demand for furfuryl alcohol and the rising usage of furfural for industrial chemical manufacturing.
  • However, fluctuations in raw material prices are expected to hinder market growth.
  • Nevertheless, the increasing adoption of bio-based chemicals represents a significant opportunity for the furfural market, given that their derivation from biomass sources aligns with the growing demand for sustainable alternatives in various industries.
  • During the forecast period, Asia-Pacific is expected to capture the largest market share and the highest CAGR.

Furfural Industry Overview

The furfural market is partially consolidated in nature. Some of the major players in the market include (not in any particular order) Central Romana Corporation, Illovo Sugar Africa (Pty) Ltd, KRBL, LENZING AG, and Pennakem LLC.

Furfural Market Leaders

  1. Central Romana Corporation

  2. ILLOVO SUGAR AFRICA (PTY) LTD

  3. LENZING AG

  4. Pennakem, LLC

  5. KRBL

  6. *Disclaimer: Major Players sorted in no particular order
Furfural Market Concentration
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Furfural Market News

The recent developments pertaining to the major players in the market are being covered in the complete study.

Furfural Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increasing Demand for Furfuryl Alcohol
    • 4.1.2 Increasing Demand from Industrial Chemicals Manufacturing
    • 4.1.3 Others
  • 4.2 Restraints
    • 4.2.1 Fluctuations in Raw Material Prices
    • 4.2.2 Other Restraints
  • 4.3 Industry Value-Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 Raw Material
    • 5.1.1 Corncobs
    • 5.1.2 Rice Hulls
    • 5.1.3 Cotton Hulls
    • 5.1.4 Sugarcane Bagasse
    • 5.1.5 Other Raw Materials
  • 5.2 Application
    • 5.2.1 Furfuryl Alcohol
    • 5.2.2 Solvent
    • 5.2.3 Intermediate
    • 5.2.4 Other Applications
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 Malaysia
    • 5.3.1.6 Thailand
    • 5.3.1.7 Indonesia
    • 5.3.1.8 Vietnam
    • 5.3.1.9 Rest of Asia-Pacific
    • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 Spain
    • 5.3.3.6 Nordic
    • 5.3.3.7 Turkey
    • 5.3.3.8 Russia
    • 5.3.3.9 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Colombia
    • 5.3.4.4 Rest of South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Nigeria
    • 5.3.5.4 Qatar
    • 5.3.5.5 Egypt
    • 5.3.5.6 United Arab Emirates
    • 5.3.5.7 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%)**/ Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Central Romana Corporation
    • 6.4.2 Hongye Holding Group Corporation Limited
    • 6.4.3 Illovo Sugar Africa (Pty) Ltd
    • 6.4.4 KRBL Limited
    • 6.4.5 LENZING AG
    • 6.4.6 Pennakem LLC
    • 6.4.7 Silvateam SpA
    • 6.4.8 Tanin d.d.
    • 6.4.9 TransFurans Chemicals bvba
    • 6.4.10 Xingtai Chunlei Furfuryl Alcohol Co. Ltd (hebeichem)
    • 6.4.11 Zibo Xinye Chemical Co. Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Rising Adoption of Bio-based Chemicals
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Furfural Industry Segmentation

Furfuryl alcohol, tetrahydrofurfuryl alcohol, furoic acid, furfuryl amine, methyl furan, and furan are produced exclusively from furfural. Aromatics and other unsaturated olefins dissolve in furfural, which is a rare property. This hetero-aromatic aldehyde is a selective solvent for processing lubricating oils due to its exceptional physical properties.

The furfural market is segmented by raw material, application, and geography. By raw material, the market is segmented into corn cobs, rice hulls, cotton hulls, sugarcane bagasse, and other raw materials (wood, oat hulls, and others). By application, the market is segmented into furfuryl alcohol, solvents, intermediates, and other applications (agricultural chemicals, pharmaceutical compounds, and others). The report also covers the market size and forecasts for the furfural market in 27 countries across major regions. For each segment, market sizing and forecasting are done on the basis of volume (tons).

Raw Material Corncobs
Rice Hulls
Cotton Hulls
Sugarcane Bagasse
Other Raw Materials
Application Furfuryl Alcohol
Solvent
Intermediate
Other Applications
Geography Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Nordic
Turkey
Russia
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
United Arab Emirates
Rest of Middle-East and Africa
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Furfural Market Research FAQs

How big is the Furfural Market?

The Furfural Market size is expected to reach 402.42 kilotons in 2025 and grow at a CAGR of 3.57% to reach 479.57 kilotons by 2030.

What is the current Furfural Market size?

In 2025, the Furfural Market size is expected to reach 402.42 kilotons.

Who are the key players in Furfural Market?

Central Romana Corporation, ILLOVO SUGAR AFRICA (PTY) LTD, LENZING AG, Pennakem, LLC and KRBL are the major companies operating in the Furfural Market.

Which is the fastest growing region in Furfural Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Furfural Market?

In 2025, the Asia-Pacific accounts for the largest market share in Furfural Market.

What years does this Furfural Market cover, and what was the market size in 2024?

In 2024, the Furfural Market size was estimated at 388.05 kilotons. The report covers the Furfural Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Furfural Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Furfural Industry Report

Statistics for the 2025 Furfural market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Furfural analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.