Furfuryl Alcohol Market Size, Share & Trends Report

Furfuryl Alcohol Market Size, Share & Trends Analysis Report By Application (Resins, Solvent, Corrosion Inhibitor), By End Use (Foundry, Agriculture), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-483-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 90

Report Overview

The global furfuryl alcohol market size was valued at USD 479.0 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027. The growth in the market can be attributed to increasing product demand for the synthesis of furan resins and in the formulation of thermoset polymer matrix compounds, cement, adhesives, coatings, and casting resins. At present, approximately 85% of the global furfural produced is converted to furfuryl alcohol, accredited to the latter’s demand in the manufacturing of furan resins. It is also widely used in the pharmaceutical, food, and polymer industries. Numerous uses of furfuryl alcohol comprise chemical structure block for drug synthesis, cleaning composites production, paint stripper, wood modification, and viscosity condenser for epoxy resins. It is used as a chemical building block for medical drug synthesis, specifically Ranitidine, which goes into the production of anti-ulcer drugs.

U.S. furfuryl alcohol market size

Furfuryl alcohol is used in tanks, containers, valves, and lines to circumvent potential leakage. The product is a prominent biobased chemical, which can also be used as a raw material. It can be used as a virtuous solution of dye and vanish. It can also be utilized in pesticide, rubber, and synthetic fabric applications. Growth of the green chemistry, sustainability programs, and innovative biobased value chains are some of the factors responsible for market growth. Chemical manufacturers are inclined toward the sustainable production of biobased/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, biocatalysis, and enzymatic processes. The aforementioned factors have contributed in a significant way to the growth of the green chemicals market.

Various government initiatives and regulatory support are likely to foster green chemical manufacturing. For instance, in Europe, Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) supports the manufacturers of biobased/green products by providing them with opportunities to develop and market sustainable biobased/green alternatives. However, manufacturers need to comply with certain registration exemptions implemented by REACH.

Key end users in the developed countries of North America and Europe are inclined toward biobased and environment-friendly products, which has positively influenced the market growth. However, the outbreak of COVID-19 in Wuhan, China, has been disrupting energy supply chains, chemical trade, and altering demand patterns, thus hampering raw material prices. The developed economies in North America and Europe depend on China, South Africa, and the Dominican Republic for furfuryl alcohol. Additionally, restrictions on production and shipping have negatively influenced the furfuryl alcohol supply chain. Furthermore, staffing shortages and logistics issues are compelling manufacturing companies to cut down their production, which is estimated to hamper the market growth in the near future.

Application Insights

Resins led the market and accounted for more than 85.0% share of the global revenue in 2019. Furfuryl alcohol is predominantly used in resinous mortars for joining corrosion inhibiting bricks or tiles in the fabrication of storage tanks, reactors, floors, and fume stacks. The product is used for corrosion-resistant mortars and cement and erosion-resilient fiber-reinforced plastics. Increasing awareness about the effectiveness of the product as a corrosion inhibitor, coupled with its surging demand as an inhibitor in cement, grout, and mortar, is expected to trigger segment growth in the near future.

The solvent segment is expected to witness the fastest growth over the forecast period. The growth can be attributed to extensive usage of the product as an industrial solvent and precursor of chemical products, including furfuryl cyanide, halides, methyl furan, esters, and ethers. The surge in demand for low volatile organic compounds (VOC) and non-toxic solvents in agricultural formulations, petroleum refining, pharmaceuticals, paints and coatings, and several other end-use industries is anticipated to fuel the segment growth over the forecast period.

End-use Insights

The foundry sector led the market and accounted for more than 80.0% share of the global revenue in 2019 and is anticipated to maintain its lead over the forecast period. Presently, furfuryl alcohol is utilized in binders for the regular furan no-bake system and in reduced quantities in furan gas-hardened, warm-box, and hot-box processes. In the foundry application, it competes predominantly with phenol, which is the raw material used for phenolic resins. Growth in the foundry industry due to a surge in metal casting production is estimated to boost the demand for furfuryl alcohol. In addition, presence of a large number of foundries in China, India, the U.S., and Japan, along with growing inclusion of products for manufacturing molds, is estimated to trigger the segment growth in the near future.

Global furfuryl alcohol market share

Furfuryl alcohol is used in agricultural applications, especially in pesticide formulations, as a cosolvent for active ingredients, such as gibberellic acid, mefenoxam, and propiconazole. It is also used as an adjuvant to support herbicides to penetrate the leaf structure. Tetrahydro furfuryl alcohol is used in the formulation of plant protection products. In addition, expanding agricultural sector, along with the surge in farm production in countries, such as China, India, U.S., Indonesia, Brazil, Turkey, Russia, France, Mexico, and Germany, is expected to fuel the demand in these economies over the forecast period.

Regional Insights

Asia Pacific dominated the market and accounted for 67.1% share of global revenue in 2019 and is expected to maintain its lead over the forecast period. The growth can be attributed to increasing demand from end-use industries, such as paints and coatings, cement, construction, and agriculture. Factors such as stable economic growth, increasing industrial production, and consistent growth in automotive sales in economies, such as China, Japan, and India, are expected to fuel the product demand in the region.

According to the International Agency for Research on Cancer (IARC), in 2018, China dominated the global furfuryl alcohol production with 80-85% production capacity. China also emerged as a prominent consumer of furfuryl alcohol across the globe. In addition, easy raw material availability, along with 400 factories manufacturing furfural in China, has boosted furfuryl alcohol production in the country. Linzi Organic Chemical, Inc. Ltd., Hebeichem, Shandong Crownchem Industries Co., Ltd., Hongye Holdings Group Co., Ltd., and Xian Welldon Trading Co., Ltd. are the prominent manufacturers in the country.

Europe emerged as the second largest regional market for furfuryl alcohol in 2019, both in terms of volume and revenue. TransFurans Chemicals bvba is the only prominent manufacturer in Europe. Other players such as Silvateam S.p.a. do not contribute significantly as compared to high consumption in the region. Majority of the product is imported from China to fulfill the demand from several end-use industries. Dynea AS and ASK Chemicals are the prominent consumers of furfuryl alcohol in Europe. Dynea AS is engaged in providing various engineered wood, interior wood, wood-based panel resins, industrial coating adhesives, specialty adhesives and polymers, and surfacing solutions.

Key Companies & Market Share Insights

The market in China is moderately fragmented with a large number of small-sized and medium-sized manufacturers, which account for a majority of the market share. Top manufacturers such as TransFurans Chemicals bvba, ILLOVO SUGAR AFRICA (PTY) LTD., Hebeichem, Hongye Holdings Group Corp., Ltd. and Shandong Crownchem Industries Co., Ltd. also account for a prominent share in the market.

Key players in the market are integrated across the value chain and are also focusing on third party agreements for distribution, especially in North America and European markets. For instance, TransFurans Chemicals bvba has signed a distribution agreement with International Furan Chemicals B.V., a European distributor for the undisrupted supply of furfuryl alcohol. Moreover, ILLOVO SUGAR AFRICA (PTY) LTD focuses on backward integration as it is a key manufacturer of furfural in South Africa and uses furfural as a feedstock for furfuryl alcohol.

Manufacturers are inclined toward continuous investment in capacity expansion and process improvement for consistently meeting the growing demand from agriculture, pharmaceuticals, and foundry end-use segments. In addition, market players are constantly focusing on lowering the final operational costs by aiming for low utility consumption, low maintenance downtime, and improved utilization of resources. Some of the prominent players in the global furfuryl alcohol market include:


  • Linzi Organic Chemical Inc. Ltd.

  • TransFurans Chemicals bvba

  • DalinYebo

  • Hebeichem

  • Silvateam S.p.a.

  • Shandong Crownchem Industries Co., Ltd.

  • Hongye Holdings Group Corp., Ltd.

  • Xian Welldon Trading Co., Ltd.

  • Furnova Polymers Ltd.

  • NC Nature Chemicals

  • Pennakem, LLC

Furfuryl Alcohol Market Report Scope

Report Attribute


Market size value in 2020

USD 472.7 million

Revenue forecast in 2027

USD 772.6 million

Growth Rate

CAGR of 6.2% from 2020 to 2027

Market demand in 2020

336,798.00 tons

Volume forecast in 2027

489,902.16 tons

Growth Rate

CAGR of 5.2% from 2020 to 2027

Base year for estimation


Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative Units

Volume in Tons, Revenue in USD Thousands, CAGR from 2020 to 2027

Report coverage

Volume and revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, end use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey

Key companies profiled

ILLOVO SUGAR AFRICA (PTY) LTD.; Linzi Organic Chemical Inc. Ltd.; TransFurans Chemicals bvba; DalinYebo; Hebeichem; Silvateam S.p.a.; Shandong Crownchem Industries Co., Ltd.; Hongye Holdings Group Corp., Ltd.; Xian Welldon Trading Co., Ltd.; Furnova Polymers Ltd.; NC Nature Chemicals; Pennakem, LLC

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels, and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. Grand View Research has segmented the global furfuryl alcohol market report on the basis of application, end use, and region:

  • Application Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)

    • Resins

    • Solvent

    • Corrosion Inhibitor

    • Others

  • End-use Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)

    • Foundry

    • Agriculture

    • Paints & Coatings

    • Pharmaceutical

    • Food & Beverage

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • The U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • Turkey

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.