Furfural Solvent Market Worth $153.4 Million By 2022

March 2016 | Report Format: Electronic (PDF)

The global furfural solvent market is expected to reach USD 153.4 million by 2022, according to a new report by Grand View Research, Inc. Increasing demand for bio-based, renewable chemicals on account of rising sustainability concerns is a vital determinant for industry growth. 

Growth of key end-use industries such as paints & coatings and pharmaceuticals coupled with stringent regulations regarding synthetic chemicals is expected to have a positive influence on the market growth. Growing demand for bio-based sustainable products particularly in developed economies of North America and Europe is also expected to fuel demand for furfural solvent. 

Petroleum refining was the largest application segment and accounted for over 55% of total volume in 2014. Increasing petroleum refining activities to meet increasing lubricant demand in automotive and industrial sectors is expected to drive the application segment. Pharmaceutical is expected to witness the highest growth of 16.1% from 2015 to 2022. Organic, non-toxic and bio-based chemicals have been rapidly replacing conventional solvents as intermediates in several drug formulations. High biocompatibility and non-reactivity has also made furfural solvents ideal in medical industry. Such factors are expected to fuel furfural solvent demand in pharmaceutical industry.

 To request a sample copy or view summary of this report, click the link below:

Further key findings from the report suggest:

  • Global furfural solvent market demand was 89.3 kilo tons in 2014 and is expected to reach 253.3 kilo tons by 2022, growing at a CAGR of 16.9%from 2015 to 2022.

  • China emerged as the leading consumer and accounted for over 60% of global volume in 2014. The region is characterized by high furfural production and rapid growth of key end-use industries such as petrochemicals, paints & coatings, lubricants, pharmaceutical ingredients and agrichemicals.

  • Growth in North America and Western Europe is characterized by regulatory policies favoring bio-based products development and restriction on hazardous chemicals. North American furfural solvent market is expected to grow at an estimated CAGR of 13.4% from 2015 to 2022.

  • Key furfural & derivative manufacturers include BASF SA, Teijing North Furfural Co., Goodrich Sugar & Chemical Ltd., Transfurans Chemicals, Harborchem (Illovo Sugar Ltd.), and Alchem Chemical Co. among others such as Linzi Organic Chemical Inc., Xing Tai Chunlei Furfural Alcohol Ltd., Penn Specialty Chemicals, The Good Scents Co. and Furfural Espanol S.A.

Grand View Research has segmented the furfural solvent market on the basis of application and region:

Global Furfural Solvent Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)

  • Petroleum refining

  • Agricultural formulations

  • Paints &coatings

  • Pharmaceuticals

  • Others

Global Furfural Solvent Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)

  • North AmericaWestern Europe

    • U.S

  • Central & Eastern Europe

  • China

  • Rest of Asia Pacific

  • Rest of the World

Request Sample
Request for Customization

Choose License Type

Single User - $4,450
Multi User (2-5) - $6,450
BI Library Access - $9,450

Buy Chapters or Sections

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA