US Furfural Market Size, Share & Trends Analysis Report By Raw Material (Rice Husk, Corn Cobs, Sugarcane Bagasse, and Others), By End User, By Application, and Forecast, 2023 - 2030

The United States (US) Furfural Market size is expected to reach $69.5 Million by 2030, rising at a market growth of 4.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 204.32 Hundred Tonnes, experiencing a growth of 3.7% (2019-2022).

The furfural market in the United States has witnessed significant growth over the past decade, driven by its versatile applications across various industries such as pharmaceuticals, agriculture, chemicals, and food processing. In recent years, the United States has seen a surge in furfural production due to advancements in extraction technologies and a growing emphasis on sustainable practices. The chemical industry's expansion, coupled with rising investments in research and development, has further boosted the furfural market.

The chemical industry in the United States has witnessed significant expansion, particularly in the furfural market. One of the primary drivers behind the expanding furfural market is the growing emphasis on sustainability and environmental stewardship. Furfural production offers an eco-friendly alternative to traditional petrochemical-based compounds. As consumers and industries become more environmentally conscious, there has been a shift towards adopting renewable and biodegradable chemicals like furfural.

According to Select US, in 2019, the United States demonstrated its prowess in the chemical industry by exporting over $208 billion of chemicals, showcasing its leadership in global chemical production. The U.S. contributes over 15% of the world's total chemical output. This dominance in the chemical sector sets a strong foundation for further expansion, particularly in niche industries such as the furfural market within the United States.

Additionally, the agricultural industry's adoption of furfural-based pesticides and herbicides for crop protection has further fueled furfural market growth in the U.S. The compound's biodegradable properties and low environmental impact have positioned it as a preferred alternative to conventional chemical agents, aligning with the industry's sustainability goals.

The COVID-19 pandemic significantly impacted the furfural market in the United States, causing disruptions in the global supply chain and a temporary slowdown in production activities. Lockdown measures and restrictions imposed to contain the spread of the virus resulted in reduced industrial operations and disrupted trade activities, adversely affecting industry dynamics. However, as the world gradually adapts to the new normal, the furfural market is expected to recover, driven by increasing investments in bio-based chemicals and growing awareness of sustainable practices.

Market Trends

Increasing demand for sustainable and eco-friendly products

The furfural market in the United States is experiencing a notable surge in demand for sustainable and eco-friendly products. One of the key drivers behind the rising demand for sustainable furfural products is the increasing consciousness among American consumers regarding the environmental impact of their purchasing decisions. With mounting evidence of climate change and ecological degradation, consumers are actively seeking products that minimize harm to the environment. Furfural, being derived from renewable biomass sources, aligns well with these preferences as it offers a more environmentally friendly alternative to conventional chemical compounds.

Furthermore, regulatory initiatives aimed at promoting sustainability and reducing reliance on fossil fuels have also played a significant role in bolstering the demand for furfural-based products. Government policies such as renewable fuel standards and carbon pricing mechanisms have incentivized industries to explore sustainable alternatives, thereby driving investment and innovation in the furfural market in the U.S.

Moreover, the growing emphasis on corporate social responsibility (CSR) has compelled businesses to adopt more sustainable practices throughout their operations, including sourcing raw materials. As a result, many companies are increasingly turning to furfural as a sustainable alternative, thereby contributing to the overall growth of the market. Hence, the surge in demand for sustainable furfural products in the United States is propelled by increasing consumer environmental consciousness and corporate initiatives towards adopting more eco-friendly practices.

Growing interest in utilizing corn cobs

In recent years, there has been a notable surge in interest in utilizing corn cobs within the furfural market in the United States. According to the U.S. Department of Agriculture, corn production in United States in 2023 was 15.3 billion bushels. The increasing focus on sustainability and the need for eco-friendly alternatives has spurred the exploration of corn cobs as a valuable feedstock for furfural production. Corn cobs, often considered agricultural waste, are abundant in the U.S., primarily stemming from the country's significant corn cultivation.

One of the primary drivers behind the interest in corn cobs for furfural production is their high cellulose and hemicellulose content. These components are converted into furfural through chemical processes, offering a sustainable alternative to traditional fossil fuel-derived chemicals. Moreover, the utilization of corn cobs for furfural production aligns with the principles of circular economy, where waste materials are repurposed into valuable resources, thereby reducing environmental impact and promoting resource efficiency.

Additionally, the scalability and economic viability of corn cob-based furfural production further contribute to its attractiveness. With the establishment of efficient extraction and conversion processes, corn cobs are utilized on a large scale without competing directly with food production. Thus, the utilization of corn cobs for furfural production presents a promising avenue for sustainable resource optimization and circular economy principles in the United States.

Competition Analysis

The furfural market in the United States is characterized by various companies operating within various industry segments. One notable company in the U.S. furfural market is Avantium, a leading renewable chemicals company. Avantium has been actively developing bio-based alternatives to traditional petrochemicals, focusing on furan-based products, including furfural. The company leverages innovative technologies to convert biomass into valuable chemicals, reducing reliance on fossil fuels. Avantium's presence in the furfural market underscores the growing importance of sustainable alternatives in the chemical industry.

Another significant player in the U.S. furfural market is International Furan Chemicals (IFC), a subsidiary of Pennakem LLC. IFC specializes in producing furfural and its derivatives for various industrial applications. With decades of experience in furfural production, IFC has established itself as a reliable supplier catering to the needs of diverse industries such as pharmaceuticals, agriculture, and flavorings. The company's robust manufacturing capabilities and commitment to quality have contributed to its prominence in the furfural market.

Vertec Biosolvents Inc. is a prominent player in the U.S. furfural market, focusing on producing bio-based solvents derived from renewable feedstocks, including furfural. Vertec's innovative approach to solvent development emphasizes sustainability and environmental responsibility, addressing the growing demand for eco-friendly alternatives in the chemical industry. The company's furfural-derived solvents offer comparable performance to conventional solvents while reducing carbon footprint, making them attractive options for various applications.

Furthermore, Corbion NV, a global leader in sustainable ingredient solutions, has a significant presence in the U.S. furfural market through its subsidiary, TerraVia Holdings Inc. TerraVia specializes in the production of renewable chemicals and ingredients derived from plant-based sources, including furfural. The company's commitment to sustainability aligns with the increasing consumer demand for environmentally friendly products, driving growth in the furfural market.

Moreover, Arcoy Industries LLC emerges as a key player in the U.S. furfural market, focusing on producing and distributing furfural and its derivatives for diverse industrial applications. Arcoy's comprehensive product portfolio caters to the needs of various industries, including pharmaceuticals, agriculture, and chemicals. The company's extensive experience in furfural processing and strong customer relationships contribute to its competitive position in the furfural market. As the industry continues to evolve, these companies are poised to capitalize on emerging opportunities and contribute to the advancement of sustainable chemistry.

List of Key Companies Profiled

• TANIN d.d. Sevnica.
• KRBL Ltd.
• Silvateam S.p.A.
• Merck KGaA
• Central Romana Corporation Ltd.
• Arcoy Industries Pvt. Ltd.
• Lenzing AG (B & C Industrieholding GmbH)
• Hongye Holding Group Co., Ltd.
• Illovo Sugar Africa Proprietary Limited (Associated British Foods PLC)
• Pennakem, LLC (Minafin Group)

US Furfural Market Report Segmentation

By Row Material

• Rice Husk
• Corn Cobs
• Sugarcane Bagasse
• Others

By End User

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

By Application

• Furfuryl Alcohol
• Solvent
• Others

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 US Furfural Market, by Row Material
1.4.2 US Furfural Market, by End User
1.4.3 US Furfural Market, by Application
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
2.2.3 Market Opportunities
2.2.4 Market Challenges
2.2.5 Market Trends
2.3 Porter’s Five Forces Analysis

Chapter 3. US Furfural Market
3.1 US Furfural Market, by Row Material
3.2 US Furfural Market, by End User
3.3 US Furfural Market, by Application

Chapter 4. Company Profiles – Global Leaders
4.1 TANIN d.d. Sevnica.
4.1.1 Company Overview
4.2 KRBL Ltd.
4.2.1 Company Overview
4.2.2 Financial Analysis
4.2.3 Segmental and Regional Analysis
4.2.4 SWOT Analysis
4.3 Silvateam S.p.A.
4.3.1 Company Overview
4.3.2 SWOT Analysis
4.4 Merck KGaA
4.4.1 Company Overview
4.4.2 Financial Analysis
4.4.3 Segmental and Regional Analysis
4.4.4 Research & Development Expense
4.4.5 SWOT Analysis
4.5 Central Romana Corporation Ltd.
4.5.1 Company Overview
4.6 Arcoy Industries Pvt. Ltd.
4.6.1 Company Overview
4.7 Lenzing AG (B & C Industrieholding GmbH)
4.7.1 Company Overview
4.7.2 Financial Analysis
4.7.3 Segmental and Regional Analysis
4.7.4 Research & Development Expenses
4.7.5 SWOT Analysis
4.8 Hongye Holding Group Co., Ltd.
4.8.1 Company Overview
4.9 Illovo Sugar Africa Proprietary Limited (Associated British Foods PLC)
4.9.1 Company Overview
4.9.2 Financial Analysis
4.9.3 Segmental and Regional Analysis
4.9.4 Research & Development Expenses
4.10. Pennakem, LLC (Minafin Group)
4.10.1 Company Overview
4.10.2 SWOT Analysis

TABLE 1 US Furfural Market, 2019 - 2022, USD Thousands
TABLE 2 US Furfural Market, 2023 - 2030, USD Thousands
TABLE 3 US Furfural Market, 2019 - 2022, Hundred Tonnes
TABLE 4 US Furfural Market, 2023 - 2030, Hundred Tonnes
TABLE 5 US Furfural Market, by Row Material, 2019 - 2022, USD Thousands
TABLE 6 US Furfural Market, by Row Material, 2023 - 2030, USD Thousands
TABLE 7 US Furfural Market, by Raw Material, 2019 - 2022, Hundred Tonnes
TABLE 8 US Furfural Market, by Raw Material, 2023 - 2030, Hundred Tonnes
TABLE 9 US Furfural Market, by End User, 2019 - 2022, USD Thousands
TABLE 10 US Furfural Market, by End User, 2023 - 2030, USD Thousands
TABLE 11 US Furfural Market, by End User, 2019 - 2022, Hundred Tonnes
TABLE 12 US Furfural Market, by End User, 2023 - 2030, Hundred Tonnes
TABLE 13 US Furfural Market, by Application, 2019 - 2022, USD Thousands
TABLE 14 US Furfural Market, by Application, 2023 - 2030, USD Thousands
TABLE 15 US Furfural Market, by Application, 2019 - 2022, Hundred Tonnes
TABLE 16 US Furfural Market, by Application, 2023 - 2030, Hundred Tonnes
TABLE 17 Key Information –TANIN d.d. Sevnica.
TABLE 18 Key Information – KRBL Ltd.
TABLE 19 Key Information – Silvateam S.p.A.
TABLE 20 key Information – Merck KGaA
TABLE 21 Key Information – Central Romana Corporation, Ltd.
TABLE 22 Key Information – Arcoy Industries Pvt. Ltd.
TABLE 23 Key Information – Lenzing AG
TABLE 24 Key Information – Hongye Holding Group Co., Ltd.
TABLE 25 Key Information – Illovo Sugar Africa Proprietary Limited
TABLE 26 Key Information – Pennakem, LLC

List of Figures
FIG 1 Methodology for the research
FIG 2 US Furfural Market, 2019 - 2030, USD Thousands
FIG 3 Key Factors Impacting Furfural Market
FIG 4 Porter’s Five Forces Analysis – Furfural Market
FIG 5 US Furfural Market share, by Row Material, 2022
FIG 6 US Furfural Market share, by Row Material, 2030
FIG 7 US Furfural Market, by Row Material, 2019 - 2030, USD Thousands
FIG 8 US Furfural Market share, by End User, 2022
FIG 9 US Furfural Market share, by End User, 2030
FIG 10 US Furfural Market, by End User, 2019 - 2030, USD Thousands
FIG 11 US Furfural Market share, by Application, 2022
FIG 12 US Furfural Market share, by Application, 2030
FIG 13 US Furfural Market, by Application, 2019 - 2030, USD Thousands
FIG 14 Swot Analysis: KRBL Ltd.
FIG 15 Swot Analysis: Silvateam S.p.A.
FIG 16 Swot Analysis: Merck KGaA
FIG 17 Swot Analysis: Lenzing AG
FIG 18 Swot Analysis: Pennakem, LLC