The Europe Furfural Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 242.51 hundred tonnes, showcasing a growth of 4.2% (2019-2022).
Furfural-based products play a vital role in crop protection and enhancement in agriculture. Furfural-based pesticides, herbicides, and fungicides are used to control pests, weeds, and fungal diseases in crops. Additionally, furfural-based soil conditioners and bio-stimulants improve soil health, nutrient uptake, and plant growth, contributing to higher yields and crop quality. Similarly, furfural-based resins and coatings are used in various applications in the paints and coatings industry. It resins offer excellent adhesion, chemical resistance, and weatherability, making them suitable for protective coatings in automotive, marine, and industrial applications. Moreover, furfural-based coatings are also used for corrosion protection, decorative finishes, and wood preservation.
Likewise, it holds promise as a renewable energy feedstock for producing biofuels and bio-based chemicals. Furfural-derived biofuels, such as furan-based bioethanol and biodiesel, offer sustainable alternatives to conventional fossil fuels. Moreover, it can also be converted into furfuryl alcohol, which serves as a precursor for renewable polymers and plastics. Furfural-based chemicals are utilized in the textile industry for fiber modification, dyeing, and finishing processes. Furfuryl alcohol, for example, is used as a crosslinking agent in producing durable press fabrics and flame-retardant textiles. Furfural-based resins are also employed in manufacturing synthetic fibers and composite materials.
Within the F&B processing sector, significant value generation was observed in specific segments. The manufacture of bakery and starch-based products emerged as the most prominent, contributing to 17.7% of the total value added by EU F&B processors. This was closely followed by the manufacture of beverages, which contributed 16.3%. As the food and beverage industry expands in Europe, there may be a higher demand for additives, flavor enhancers, and ingredients derived from furfural. Additionally, its derivatives can be used as flavor enhancers, preservatives, and additives in various food and beverage products. Thus, Europe’s increasing food and beverage industry drives the market’s growth.
The Germany market dominated the Europe Others Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,786.7 Thousands by 2030. The UK market is registering a CAGR of 5.4% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 7.6% during (2023 - 2030).
Free Valuable Insights: The Global Furfural Market will Hit $867.7 Million by 2030, at a CAGR of 5.6%
Based on Raw Material, the market is segmented into Rice Husk, Corn Cobs, Sugarcane Bagasse, and Others. Based on End User, the market is segmented into Agricultural Formulations, Petroleum Refineries, Paints & Coatings, Pharmaceuticals, and Others. Based on Application, the market is segmented into Furfuryl Alcohol, Solvent, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Raw Material (Volume, Hundred Tonnes, USD Million, 2019-2030)
By End User (Volume, Hundred Tonnes, USD Million, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Million, 2019-2030)
By Country (Volume, Hundred Tonnes, USD Million, 2019-2030)
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