Furfural Market To Reach $1,169.8 Million By 2033 | CAGR 7.0%

Furfural Market Growth & Trends

The global furfural market size is expected to reach USD 1,169.8 million by 2033, registering a CAGR of 7.0% from 2026 to 2033, according to a new report by Grand View Research, Inc. Increased environmental concerns and the growing significance of bio-based solvents are expected to raise the demand for furfural throughout the forecast period.

Numerous end-use industries, such as foundry, agriculture, refineries, paints & coatings, automotive, construction, pharmaceuticals, and chemicals, use furfural widely as a solvent or intermediary. During the forecast period, it is anticipated that the expanding construction industry would help to offset the decline in demand for several refractory products, including, bricks and fiberglass composites. In addition, it is anticipated that the diminishing supply of fossil fuels would increase the need for sustainable products.

Chemical manufacturers are inclined toward the sustainable production of bio-based/green chemicals that focus on the 12 principles of green chemistry. A paradigm shift in terms of the production of green chemicals has led to the development of various biotechnological routes, such as fermentation, biocatalysts, and enzymatic processes, among others. The aforementioned factors have contributed in a significant way to the growth of the green chemicals market.

Green chemical producers are expanding their production capacities and infrastructure with the intention to cater to the rising product demand. They have integrated their production and distribution channels for improved market accessibility. Mergers & acquisitions and strategic alliances are an integral part of this market and allow companies to strengthen their market position. Business activities of the end-users significantly influence the financial conditions and businesses of raw material suppliers as well as manufacturers. Innovative bio-based value chains, business sustainability initiatives, and the growth of the green chemistry market are some of the drivers pushing market expansion.

COVID-19 had a negative impact on the furfural market because of the prices, which had fallen in 2020. China accounts for more than 80.0% of the global production of furfural and furfuryl alcohol, making it a noteworthy manufacturer. The coronavirus outbreak had a negative impact on the global market, with both manufacturers and end-users experiencing difficulties finding supplies until the situation returned to normal globally. However, the stability seen in these industries predicted that important end-use applications such as food & beverage and medicines will support the product demand in the near future.

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Furfural Market Report Highlights

• By process, the chinese batch process batch segment accounted for a significant revenue share of 82.2% in 2025. The Quaker batch process is expected to grow significantly with a CAGR of 6.8% during the forecast period.

• By raw material, the corn cob segment dominant raw material segment, accounting for the largest revenue share of 70.6% in 2025. Sugar cane bagasse is expected to grow fastest with a CAGR of 7.2% during the forecast period.

• By application, the furfuryl alcohol segment dominated the market with a revenue share of 86.0% in 2025. Solvent applications are emerging as the fastest-growing segment, projected to grow at a CAGR of 7.2% over the forecast period.

• By end-use, refineries emerged as the largest end-use segment in the global market, capturing 51.2% of revenue in 2025. Agriculture is expected to grow significantly with a CAGR of 6.8% during the forecast period.

• Asia Pacific dominated the furfural market with the largest revenue share of 75.3% in 2025. The furfural market in China represents the largest country-level market globally, accounting for 88.8% share in 2025.  

Furfural Market Segmentation

Grand View Research has segmented the global furfural market report based on process, raw material, application, end-use, and region:

Furfural Process Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Quaker Batch Process

• Chinese Batch Process

• Rosenlew Continuous Process

• Other Processes

Furfural Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Corn Cob

• Sugar Cane Bagasse

• Sunflower Hull

• Rice Husk

• Other Raw Materials

Furfural Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Furfuryl Alcohol

• Solvent

• Intermediate

• Other Applications

Furfural End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Agriculture

• Paints & Coatings

• Pharmaceutical

• Food & Beverage

• Refineries

• Other End Use

Furfural Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Spain

  • Italy

  • UK

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • Turkey

List of Key Players in the Furfural Market

• Hongye Holding Group Corporation Ltd.

• Illovo Sugar Africa (Pty.) Ltd

• Linzi Organic Chemical Inc. Ltd.

• Trans Furans Chemicals bvba

• Central Romana Corporation

• DalinYebo

• Hebeichem

• KRBL Ltd.

• Silva team S.p.a.

• LENZING AG.