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Furfural Market by Raw Material (Corn Cob, Rice Husk, Sugarcane Bagasse, and Others), Application (Furfuryl Alcohol and Solvent), and End User Industry (Petroleum Refineries, Agricultural Formulations, Paints & Coatings, Pharmaceuticals, and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2022

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MA_161819
Pages: 175
Dec 2016 | 3030 Views
 
Author's : Sneha Nathwani
Tables: 83
Charts: 28
 
The market accounted for $663 million in the year 2015, and is expected to grow at a CAGR of 11.6% to reach $1,434 million by 2022. Increase in awareness regarding the renewable alternatives has compelled manufacturers to increase production of biomass-based chemicals such as furfural to produce additives, resins, and fuels to replace the non-renewable resources such as petrochemicals. Furfural is a chemical compound produced from the hemicellulose fraction of agriculture residue. It has the unique property to dissolve aromatics and other unsaturated olefins, which makes it suitable for refining lubricating oils. It is also used to produce foundry resins, adhesives, and wetting agents owing to its low viscosity & high reactivity, and excellent chemical, mechanical, and thermal properties. Moreover, supportive regulations concerning the development of bio-based products including furfural from agencies such as Environmental Protection Agency (EPA) of the U.S. and Registration Evaluation Authorization and Restriction of Chemicals (REACH) of Europe are also expected to have a positive impact on the global furfural market during the forecast period.

The key raw materials for manufacturing furfural include corn cob, rice husk, sugarcane bagasse, and others (almond husk, cotton husk, and oat husk). The market has witnessed fluctuation in furfural prices due to increase in the prices of raw materials due to the climate changes.

The global furfural market includes raw material (corn cob, rice husk, sugarcane bagasse, and others), application (furfuryl alcohol and solvent), and end user industry (petroleum refineries, agricultural formulations, paints & coatings, pharmaceuticals, and others).
Primary Interview Responses
Primary Interview Responses
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The surge in demand for non-toxic, low volatile organic compound (VOC) furfural solvents in petroleum refining, agricultural formulations, paints & coatings, pharmaceuticals, and other industries are expected to drive the global furfural market.

Furfural as a solvent has high selectivity and solvent power, easy recovery, low solubility in oil phase, low surface tension, high density, and adaptability to wide range of oils. This helps in easy separation of furfural from lubricating oil stocks and diesel fuels.
 
Furfural Market Segmentation
Furfural Market Segmentation
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Patent Analysis

The registered patents related to furfural- include furfural production from biomass, producing 5-hydroxymethyl furfural, preparing 5-acetoxymethylfurfural using alkylammonium acetate, processes and apparatus for producing furfural, levulinic acid, and other sugar-derived products from biomass, methods for high-yield production of furans from biomass sugars at mild operating conditions, and others.
 
Patent Analysis by Region, 2013-2016 (%)
Patent Analysis by Region, 2013-2016 (%)
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The maximum number of furfural related patents were registered in the Asia-Pacific region accounting for 66% of the total patent registration from January 2013 to December 2016. China had the maximum patent registrations in this region. North America and Europe accounted for 20% and 12% share, respectively, in the total number of patents registered for furfural from January 2013 to December 2016.

Segment Review

Agricultural residue constitutes the raw materials for the production of furfural. It is produced by acid hydrolysis of the pentosan found in the cellulose of corn cobs, rice husks, sugarcane bagasse, almond husks, cotton husks, oats husks, and other similar plants. The conventional processes to produce furfural include ‘Quaker Oats’ process and ‘SAVO’ process.

Furfuryl alcohol is used in containers, tanks, lines, and valves to avoid potential leakage. Moreover, owing to low viscosity, high reactivity, and excellent solubility, it is used in the production of foundry sand binders, hot-box, warm box, gas hardened processes, furan resins, and traditional-furan-no-bake-system.

Furfural solvents used in the production of agricultural formulations have revolutionized pesticides, fungicides, herbicides, and other synthetic chemical compounds to enhance the consumer safety and health. Moreover, government supplements it to promote the adoption of bio-based pesticides, fungicides, herbicides, and other chemical compounds. Furthermore, its low cost, advancement in farming practices & technology, ease of application of furfural based pesticides, fungicides, herbicides, and other such compounds are expected to drive the market in agricultural formulation segment during the forecast period.

Porter’s Five Forces Analysis
Threat of New Entrant

Threat of New Entrant
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LAMEA Review

During 2015-2016, Brazil produced 34,650,000 metric tons of sugar. This is expected to boost the production of furfural in Latin America as sugarcane bagasse is the key raw material for furfural. South Africa is another leading producer of furfural. Illovo Sugar Ltd., a leading sugar producer in South Africa, started manufacturing furfural and furfuryl alcohol from sugarcane bagasse. Interestingly, furfural is registered in South Africa as nematicide and has replaced methyl bromide, carbamates, and phosphide-based chemicals.

Key players profiled in the report include Arcoy Industries Pvt. Ltd., Central Romana Corporation, Ltd., Hongye Holding Group Corporation, Illovo Group, KRBL Ltd., Lenzing AG, Penn A Kem LLC, Silvateam, Tanin Sevnica d.d, and Tieling North Furfural (Group) Co. Ltd.

Other key players (not profiled in the report) in the market value chain include Welldon Trading Co. Limited, Zibo Xinye Chemical Co., Ltd, Shandong Ruide Chemical Co. Ltd., Jinlilin Fufural Manufacture Co., Ltd, Zibo Junhao Logistics Co.Ltd., Furnova Polymers Ltd, Shandong Yino Biotechnology Co., Ltd, Shenyang Hawk International Trading Co., Hebei Furan International Co., Ltd., Zhucheng Taisheng Chemical Co., Ltd, Novel Organic industries, and others.

KEY BENEFITS

  • This report provides an extensive analysis of the current trends, future estimations, and market dynamics from 2014 to 2022.
  • Comprehensive analysis predicts the applications that are currently used along with the variants that are expected to gain prominence in the future.
  • Competitive intelligence of leading manufacturers and distributors highlights the competitive scenario.
  • Key market players are profiled and their strategies and key product positioning are analyzed thoroughly to portray the competitive outlook.

KEY MARKET SEGMENTS:

By Raw Material
  • Corn Cob
  • Rice Husk
  • Sugarcane Bagasse
  • Others

By Application

  • Furfuryl Alcohol
  • Solvent

By End User

  • Petroleum Refineries
  • Agricultural Formulations
  • Paints & Coatings
  • Pharmaceuticals
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Turkey
    • Africa
    • Rest of LAMEA
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2 KEY BENEFITS FOR STAKEHOLDERS
1.3 KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.2.1. Secondary Research
1.2.2. Primary Research
1.2.3. Analyst Tools and Models

Chapter: 2 EXECUTIVE SUMMARY

2.1. KEY FINDINGS OF THE STUDY
2.2. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. PORTER'S FIVE FORCES ANALYSIS

3.2.1. Bargaining Power of Suppliers
3.2.2. Bargaining Power of Buyers
3.2.3. Threat of New Entrants
3.2.4. Threat of Substitutes
3.2.5. Competitive Rivalry

3.3. MARKET DYNAMICS

3.3.1. Drivers

3.3.1.1. Increase in Awareness Regarding the Benefits of Furfural
3.3.1.2. Easy Availability of Raw Material

3.3.2. Restraint

3.3.2.1. Fluctuating Prices of Raw Material

3.3.3. Opportunities

3.3.3.1. Increase in Demand in Emerging Economies
3.3.3.2. Technological Advancement

3.4. PATENT ANALYSIS

3.4.1. Patent Analysis by Year
3.4.2. Patent Analysis by Region
3.4.3. Patent Analysis by Company

3.5. REGULATORY SCENARIO

Chapter: 4 FURFURAL MARKET, BY RAW MATERIAL

4.1. INTRODUCTION

4.1.1. Market Size and Forecast

4.2. CORN COBS

4.2.1. Market Size and Forecast

4.3. RICE HUSK

4.3.1. Market Size and Forecast

4.4. SUGARCANE BAGASSE

4.4.1. Market Size and Forecast

4.5. OTHERS

4.5.1. Market Size and Forecast

Chapter: 5 FURFURAL MARKET, BY APPLICATION

5.1. INTRODUCTION

5.1.1. Market Size and Forecast

5.2. FURFURYL ALCOHOL

5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast

5.3. SOLVENT

5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast

Chapter: 6 FURFURAL MARKET, BY END USER

6.1. INTRODUCTION

6.1.1. Market size and forecast

6.2. PETROLEUM REFINERIES

6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast

6.3. AGRICULTURAL FORMULATIONS

6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast

6.4. PAINTS & COATINGS

6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast

6.5. PHARMACEUTICALS

6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast

6.6. OTHERS

6.6.1. Key Market Trends, Growth Factors and Opportunities
6.6.2. Market Size and Forecast

Chapter: 7 FURFURAL MARKET, BY GEOGRAPHY

7.1. INTRODUCTION

7.1.1. Market size and forecast

7.2. NORTH AMERICA

7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast
7.2.3. U.S.
7.2.4. Canada
7.2.5. Mexico

7.3. EUROPE

7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast
7.3.3. Germany
7.3.4. France
7.3.5. UK
7.3.6. Italy
7.3.7. Rest of Europe

7.4. ASIA-PACIFIC

7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast
7.4.3. China
7.4.4. India
7.4.5. Japan
7.4.6. Rest of Asia-Pacific

7.5. LAMEA

7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast
7.5.3. Brazil
7.5.4. Turkey
7.5.5. Africa
7.5.6. Rest of LAMEA

Chapter: 8 COMPANY PROFILES

8.1. ARCOY INDUSTRIES PVT LTD.

8.1.1. Overview

8.2. CENTRAL ROMANA CORPORATION LTD.

8.2.1. Overview

8.3. HONGYE HOLDINGS GROUP CO., LTD.

8.3.1. Overview

8.4. ILLOVO SUGAR LTD.

8.4.1. Overview
8.4.2. Operating Business Segments
8.4.3. Business Performance

8.5. KRBL LTD.

8.5.1. Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance

8.6. LENZING AG

8.6.1. Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance

8.7. PENN A KEM LLC

8.7.1. Overview

8.8. SILVATEAM

8.8.1. Overview
8.8.2. Operating Business Segments

8.9. TANIN SEVNICA D.D.

8.9.1. Overview
8.9.2. Operating Business Segments

8.10. TIELING NORTH FURFURAL (GROUP) CO.

8.10.1. Overview

OTHER KEY PLAYERS IN THE MARKET INCLUDE:

  • Welldon Trading Co. Limited
  • Zibo Xinye Chemical Co., Ltd
  • Shandong Ruide Chemical Co. Ltd.,
  • Jinlilin Fufural Manufacture Co., Ltd
  • Zibo Junhao Logistics Co.Ltd.
  • Furnova Polymers Ltd
  • Shandong Yino Biotechnology Co., Ltd
  • Shenyang Hawk International Trading Co.
  • Hebei Furan International Co., Ltd.
  • Zhucheng Taisheng Chemical Co., Ltd
  • Novel organic industries

*The above list of companies are not profiled in the report, can be profiled based on client interest.

LIST OF TABLES

TABLE 1. FURFURAL MARKET: REGULATORY ANALYSIS
TABLE 2. PENTOSANS CONTENT AND FURFURAL YIELD IN DIFFERENT RAW MATERIALS, (%)
TABLE 3. FURFURAL MARKET REVENUE, BY RAW MATERIAL, 2014-2022 ($MILLION)
TABLE 4. GLOBAL FURFURAL MARKET SIZE, BY RAW MATERIAL, 2014-2022 (KILOTONS)
TABLE 5. CORN COB BASED FURFURAL MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 6. CORN COB BASED FURFURAL MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 7. TOP TEN RICE PRODUCING COUNTRIES, 2015-2016 (METRIC TONS)
TABLE 8. RICE HUSK FURFURAL MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 9. RICE HUSK BASED FURFURAL MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 10. TOP 10 SUGAR PRODUCING COUNTRIES, 2015-2016 (METRIC TONS)
TABLE 11. SUGARCANE BAGASSE BASED FURFURAL MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 12. SUGARCANE BAGASSE BASED FURFURAL MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 13. TOP FIVE ALMOND PRODUCING COUNTRIES, 2015-2016*, (METRIC TONS)
TABLE 14. TOP FIVE COTTON PRODUCING COUNTRIES, 2015-2016*, (METRIC TONS)
TABLE 15. OTHER RAW MATERIAL BASED FURFURAL MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 16. OTHER RAW MATERIAL BASED FURFURAL MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 17. FURFURAL MARKET REVENUE, BY APPLICATION, 2014-2022($MILLION)
TABLE 18. FURFURAL MARKET SIZE, BY APPLICATION, 2014-2022(KILOTONS)
TABLE 19. FURFURAL ALCOHOL MARKET REVENUE, BY REGION, 2014-2022($MILLION)
TABLE 20. FURFURAL ALCOHOL MARKET SIZE, BY REGION, 2014-2022(KILOTONS)
TABLE 21. FURFURAL SOLVENT MARKET REVENUE, BY REGION, 2014-2022($MILLION)
TABLE 22. FURFURAL SOLVENT MARKET SIZE, BY REGION, 2014-2022(KILOTONS)
TABLE 23. FURFURAL MARKET REVENUE, BY END USER, 2014-2022($MILLION)
TABLE 24. FURFURAL MARKET SIZE, BY END USER, 2014-2022(KILOTONS)
TABLE 25. FURFURAL IN PETROLEUM REFINERIES MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 26. FURFURAL IN PETROLEUM REFINERIES MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 27. GLOBAL FURFURAL IN AGRICULTURAL FORMULATIONS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 28. FURFURAL IN AGRICULTURAL FORMULATIONS MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 29. FURFURAL IN PAINTS & COATINGS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 30. FURFURAL IN PAINTS & COATINGS MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 31. FURFURAL IN PHARMACEUTICALS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 32. FURFURAL IN PHARMACEUTICALS MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 33. FURFURAL IN OTHER INDUSTRIES MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 34. FURFURAL IN OTHER INDUSTRIES MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 35. FURFURAL MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 36. GLOBAL FURFURAL MARKET SIZE, BY REGION, 2014-2022 (KILOTONS)
TABLE 37. NORTH AMERICA FURFURAL MARKET REVENUE, BY RAW MATERIAL, 2014-2022 ($MILLION)
TABLE 38. NORTH AMERICA FURFURAL MARKET SIZE, BY RAW MATERIAL, 2014-2022 (KILOTONS)
TABLE 39. NORTH AMERICA FURFURAL MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 40. NORTH AMERICA FURFURAL MARKET SIZE, BY APPLICATION, 2014-2022 (KILOTONS)
TABLE 41. NORTH AMERICA FURFURAL MARKET REVENUE, BY END USER, 2014-2022 ($MILLION)
TABLE 42. NORTH AMERICA FURFURAL MARKET SIZE, BY END USER, 2014-2022 (KILOTONS)
TABLE 43. NORTH AMERICA FURFURAL MARKET REVENUE, BY COUNTRY 2014-2022 ($MILLION)
TABLE 44. NORTH AMERICA FURFURAL MARKET SIZE, BY COUNTRY 2014-2022 (KILOTONS)
TABLE 45. EUROPE FURFURAL MARKET REVENUE, BY RAW MATERIAL, 2014-2022 ($MILLION)
TABLE 46. EUROPE FURFURAL MARKET SIZE, BY RAW MATERIAL, 2014-2022 (KILOTONS)
TABLE 47. EUROPE FURFURAL MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 48. EUROPE FURFURAL MARKET SIZE, BY APPLICATION, 2014-2022 (KILOTONS)
TABLE 49. EUROPE FURFURAL MARKET REVENUE, BY END USER, 2014-2022 ($MILLION)
TABLE 50. EUROPE FURFURAL MARKET SIZE, BY END USER, 2014-2022 (KILOTONS)
TABLE 51. EUROPE FURFURAL MARKET REVENUE, BY COUNTRY 2014-2022 ($MILLION)
TABLE 52. EUROPE FURFURAL MARKET SIZE, BY COUNTRY 2014-2022 (KILOTONS)
TABLE 53. ASIA-PACIFIC FURFURAL MARKET REVENUE, BY RAW MATERIAL, 2014-2022 ($MILLION)
TABLE 54. ASIA-PACIFIC FURFURAL MARKET SIZE, BY RAW MATERIAL, 2014-2022 (KILOTONS)
TABLE 55. ASIA-PACIFIC FURFURAL MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 56. ASIA-PACIFIC FURFURAL MARKET SIZE, BY APPLICATION, 2014-2022 (KILOTONS)
TABLE 57. ASIA-PACIFIC FURFURAL MARKET REVENUE, BY END USER, 2014-2022 ($MILLION)
TABLE 58. ASIA-PACIFIC FURFURAL MARKET SIZE, BY END USER, 2014-2022 (KILOTONS)
TABLE 59. ASIA-PACIFIC FURFURAL MARKET REVENUE, BY COUNTRY 2014-2022 ($MILLION)
TABLE 60. ASIA-PACIFIC FURFURAL MARKET SIZE VOLUME, BY COUNTRY 2014-2022 (KILOTONS)
TABLE 61. LAMEA FURFURAL MARKET REVENUE, BY RAW MATERIAL, 2014-2022 ($MILLION)
TABLE 62. LAMEA FURFURAL MARKET SIZE, BY RAW MATERIAL, 2014-2022 (KILOTONS)
TABLE 63. LAMEA FURFURAL MARKET REVENUE, BY APPLICATION, 2014-2022 ($MILLION)
TABLE 64. LAMEA FURFURAL MARKET SIZE, BY APPLICATION, 2014-2022 (KILOTONS)
TABLE 65. LAMEA FURFURAL MARKET REVENUE, BY END USER, 2014-2022 ($MILLION)
TABLE 66. LAMEA FURFURAL MARKET SIZE, BY END USER, 2014-2022 (KILOTONS)
TABLE 67. LAMEA FURFURAL MARKET REVENUE, BY COUNTRY 2014-2022 ($MILLION)
TABLE 68. LAMEA FURFURAL MARKET SIZE, BY COUNTRY 2014-2022 (KILOTONS)
TABLE 69. ARCOY INDUSTRIES PVT. LTD.: COMPANY SNAPSHOT
TABLE 70. CENTRAL ROMANA CORPORATION, LTD.: COMPANY SNAPSHOT
TABLE 71. HONGYE HOLDINGS GROUP CO., LTD.: COMPANY SNAPSHOT
TABLE 72. ILLOVO SUGAR LTD: COMPANY SNAPSHOT
TABLE 73. ILLOVO SUGAR LTD.: OPERATING SEGMENTS
TABLE 74. KBRL LTD.: COMPANY SNAPSHOT
TABLE 75. KBRL LTD.: OPERATING SEGMENTS
TABLE 76. LENZING AG: COMPANY SNAPSHOT
TABLE 77. LENZING AG: OPERATING SEGMENTS
TABLE 78. PENN A KEM LLC: COMPANY SNAPSHOT
TABLE 79. SILVATEAM: COMPANY SNAPSHOT
TABLE 80. SILVATEAM: OPERATING SEGMENTS
TABLE 81. TANIN SEVNICA D.D.: COMPANY SNAPSHOT
TABLE 82. TANIN SEVNICA D.D.: OPERATING SEGMENTS
TABLE 83. TIELING NORTH FURFURAL (GROUP) CO.: COMPANY SNAPSHOT

LIST OF FIGURES

FIGURE 1. PATENT ANALYSIS BY YEAR, 2013-2016*
FIGURE 2. PATENT ANALYSIS BY REGION, 2013-2016*(%)
FIGURE 3. PATENT ANALYSIS BY COMPANY, 2013-2016* (%)
FIGURE 4. U.S.: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 5. CANADA: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 6. MEXICO: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 7. GERMANY: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 8. FRANCE: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 9. UK: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 10. ITALY: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 11. REST OF EUROPE: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 12. CHINA: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 13. INDIA: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 14. JAPAN: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 15. REST OF ASIA-PACIFIC: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 16. BRAZIL: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 17. TURKEY: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 18. AFRICA: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 19. REST OF LAMEA: FURFURAL MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 20. ILLOVO SUGAR LTD.: REVENUE, 2013-2015 ($MILLION)
FIGURE 21. ILLOVO SUGAR LTD.: REVENUE, BY SEGMENT, 2015 (%)
FIGURE 22. ILLOVO SUGAR LTD.: REVENUE, BY GEOGRAPHY, 2015 (%)
FIGURE 23. KBRL LTD.: REVENUE, 2013-2015 ($MILLION)
FIGURE 24. KBRL LTD.: REVENUE, BY BUSINESS SEGMENTS, 2015 (%)
FIGURE 25. KBRL LTD.: REVENUE, BY GEOGRAPHY, 2015 (%)
FIGURE 26. LENZING AG: REVENUE, 2013-2015 ($MILLION)
FIGURE 27. LENZING AG: REVENUE, BY SEGMENT, 2015 (%)
FIGURE 28. LENZING AG: REVENUE, BY GEOGRAPHY, 2015 (%)

 

Furfural solvents used in the production of agricultural formulations have revolutionized pesticides, fungicides, herbicides, and other synthetic chemical compounds and enhanced the consumer safety and health. It has received support from government to promote the adoption of bio-based pesticides, fungicides, herbicides, and other chemical compounds. Furthermore, its low cost, advancement in farming practices & technology, ease of application of furfural based pesticides, fungicides, herbicides, and other such compounds are expected to drive the market during the forecast period.

Various technologies such as ‘Quaker Oats’ technology, SAVO process, and ‘Huaxia Furfural’ technology, give low yields of furfural. Quaker Oats’ technology uses sulfuric acid as a catalyst; whereas, SAVO process does not require a separate catalyst. These processes give yield of about 50% or less.

The Chinese ‘Huaxia Furfural’ technology uses fixed-bed reactors and continuous dynamic refining, and gives a high yield of furfural and by-products at a low production cost. It is an example of a continuous process that has replaced the less-efficient batch processes.

Furthermore, R&D and technological advancements in manufacturing process that lead to increased yield percentage of furfural from raw materials such as corn cob, rice husk, sugarcane bagasse, and others (almond husk, cotton husk, and oat husk) are expected to be a great opportunity for the existing and new players in the furfural industry.

 

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