India has set an ambitious target of reaching net-zero by 2070 as a part of its fight against climate crisis. The country is leading the way in developing an economic model with a low-carbon footprint. It has a golden opportunity to lead the world in bioenergy technology. One of the prospects is to generate biofuel through corn cob, which produces furfural, also called 2-furaldehyde. It is one of the organic molecules that has an aldehyde group.   

The global furfural market is estimated to reach $929.54 million by 2030, after growing at a CAGR of 4.8% during 2024-2030.  Country wise producers’ share in the Furfural market in 2023 was – South America 5%, North America 24%, Europe 29%, Asia pacific region 37%. China was the largest consumer of furfural with a share of 54.3%. 

Furfural has been recognized as one of the top value-added bio-based platform chemicals to produce biochemical and biofuels. It can be used to derive solvents, monomers, and pharmaceutical products used in various industries. The transformation and utilization of green chemicals may also cause a surge in demand for furfural derivatives as furfural derivatives could be alternatives to petrochemicals. 

Raw Material: Corncobs held a significant share of the Furfural Market. Since corn cob yields the highest of any material, it is the most preferred raw material for manufacturing. Furthermore, using corn cob as a biomass feedstock offers prospects for producing renewable energy. 

Agricultural wastes have reportedly been used for furfural manufacturing during the past few decades, including maize cobs, sugarcane bagasse, oat hulls, peanut shells, corn stalks, wheat straw, almond husks, cottonseed hull bran and wood chips. 

Applications of Furfural: Extracting the aromatics through double bond conjugation, furfural can be utilized as a selective solvent for refining diesel fuels and lubricants. In addition, it plays the role of a decolorizing agent in refining crude wood rosin. Its applications are found in the agriculture segment as a fungicide and a soil nematodes control agent. The versatility of furfural allows for producing promising biofuels, including methyl furan, methyl tetrahydrofuran, and tetrahydrofurfuryl alcohol.  

Furfural is used for making plastics, antacids, inks, adhesives, nematicides, fertilizers, fungicides and flavoring compounds as well. Due to its similar properties with kerosene, tetrahydrofurfuryl alcohol can also be used as a biofuel.  

Furfuryl alcohol is primarily employed as one of the raw components for furan* resins, which are used as foundry sand binders, in the metal casting industry. (*Furan is a clear, colorless liquid which turns brown upon standing in air and has a pleasant odor. It is used in the manufacture of pharmaceuticals, insecticides, and other chemicals, and as a solvent for resins.) 

Globally, the manufacturing of furfural and furfuryl alcohol has shifted from developed to emerging countries, especially Asian ones. Chinese furfural production rose in recent years. China has a strong industrial base, and it is expected to continue dominating the furfural market in the future. After China, the top two countries that produce furfural are the Dominican Republic and South Africa. 

MITCON can unlock the potential of the factories by doing market research, raw material assessment, demand-supply study, dealer-distributor study for end product, TDD, TEV etc.  

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