Global Furan Resins Market Size Study, by Type (Furan Resin, Polymer Matrix Composites ), by Application, by End-Use Industry, by Grade, and Regional Forecasts 2022-2032

Description

The Global Furan Resins Market, currently valued at approximately USD 1.62 billion in 2023, is set to experience a promising growth trajectory, expanding at a CAGR of 5.61% from 2024 to 2032. Furan resins, widely recognized for their excellent thermal stability, chemical resistance, and mechanical strength, have been increasingly utilized in high-performance applications such as foundry binders, composite products, and corrosion-resistant coatings. These resins, derived from renewable sources like furfuryl alcohol, are gaining traction as industries push for more sustainable and durable materials, fostering substantial market demand.

In the foundry industry, furan resins are indispensable due to their remarkable sand-binding properties, allowing for the production of high-quality molds and cores in metal casting. Similarly, their usage in polymer matrix composites (PMC) is expanding across automotive, aerospace, and construction sectors, where they enhance structural integrity and performance. The growing preference for eco-friendly alternatives and the shift toward bio-based resins are key factors fueling innovation in this space. However, challenges such as fluctuating raw material prices and stringent environmental regulations concerning VOC emissions could hinder the market's growth over the forecast period.

The global furan resins market is undergoing a transformation with advancements in material science and composite engineering, enabling enhanced mechanical properties and application versatility. Governments and industry leaders are investing in sustainable chemistry initiatives, driving the adoption of low-emission and biodegradable resin formulations. Furthermore, the increasing adoption of furan-based phenolic resins in marine and construction applications is expected to open new revenue streams, particularly in regions with significant infrastructure development projects.

Regionally, Europe is projected to maintain a dominant position in the global market, largely due to stringent environmental policies encouraging the use of bio-based resins and the presence of major automotive and aerospace manufacturers. Meanwhile, North America continues to witness steady demand, supported by advancements in polymer technologies and high investments in corrosion-resistant materials. The Asia-Pacific region is anticipated to be the fastest-growing market, fueled by rapid industrialization in countries like China, India, and Japan, alongside expanding manufacturing and construction activities. Latin America and the Middle East & Africa are also poised for moderate growth, with emerging industrial applications driving market penetration.

Major Market Players Included in This Report:

BASF SE
DIC Corporation
Georgia-Pacific Chemicals LLC
Sumitomo Bakelite Co., Ltd.
Hexion Inc.
Prefere Resins Holding GmbH
SI Group, Inc.
Ashland Global Holdings Inc.
Kolon Industries Inc.
Huttenes-Albertus Chemische Werke GmbH
Kangnam Chemical Co., Ltd.
Gunei Chemical Industry Co., Ltd.
LERG S.A.
UCP Chemicals AG
Aries Chemical, Inc.

The Detailed Segments and Sub-Segments of the Market are Explained Below:

By Type:

Furan Resin
Polymer Matrix Composites (PMC)

By Application:

Foundry
Composite Products
Others

By End-Use Industry:

Automotive
Aerospace
Construction
Marine
Other

By Grade:

Furan
Phenolic
Others

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level insights.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
In-depth study of competitive market structures.
Demand-side and supply-side market analysis.

Chapter 1. Global Furan Resins Market Executive Summary

1.1. Global Furan Resins Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. {By Type}
- 1.3.2. {By End-Use Industry}
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Furan Resins Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Furan Resins Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Sustainable and Renewable Materials
- 3.1.2. Technological Advancements in Resin Formulations
- 3.1.3. Expansion in High-Performance End-Use Industries
3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Prices
- 3.2.2. Stringent Environmental Regulations on VOC Emissions
3.3. Market Opportunities
- 3.3.1. Growing Investments in Sustainable Chemistry Initiatives
- 3.3.2. Innovation in Low-Emission and Bio-Based Resin Formulations
- 3.3.3. Expansion in Infrastructure and Industrial Development Projects

Chapter 4. Global Furan Resins Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Furan Resins Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Furan Resins Market: {Type} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Furan Resin
- 5.2.2. Polymer Matrix Composites (PMC)

Chapter 6. Global Furan Resins Market Size & Forecasts by End-Use Industry 2022-2032

6.1. Segment Dashboard
6.2. Global Furan Resins Market: {End-Use Industry} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Automotive
- 6.2.2. Aerospace
- 6.2.3. Construction
- 6.2.4. Marine
- 6.2.5. Other

Chapter 7. Global Furan Resins Market Size & Forecasts by Region 2022-2032

7.1. North America Market
- 7.1.1. U.S. Market
  - 7.1.1.1. {Type} Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. {End-Use Industry} Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Market
7.2. Europe Market
- 7.2.1. UK Market
- 7.2.2. Germany Market
- 7.2.3. France Market
- 7.2.4. Spain Market
- 7.2.5. Italy Market
- 7.2.6. Rest of Europe Market
7.3. Asia-Pacific Market
- 7.3.1. China Market
- 7.3.2. India Market
- 7.3.3. Japan Market
- 7.3.4. Australia Market
- 7.3.5. South Korea Market
- 7.3.6. Rest of Asia-Pacific Market
7.4. Latin America Market
- 7.4.1. Brazil Market
- 7.4.2. Mexico Market
- 7.4.3. Rest of Latin America Market
7.5. Middle East & Africa Market
- 7.5.1. Saudi Arabia Market
- 7.5.2. South Africa Market
- 7.5.3. Rest of Middle East & Africa Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. BASF SE
- 8.1.2. DIC Corporation
- 8.1.3. Georgia-Pacific Chemicals LLC
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. BASF SE
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Sumitomo Bakelite Co., Ltd.
- 8.3.3. Hexion Inc.
- 8.3.4. Prefere Resins Holding GmbH
- 8.3.5. SI Group, Inc.
- 8.3.6. Ashland Global Holdings Inc.
- 8.3.7. Kolon Industries Inc.
- 8.3.8. Huttenes-Albertus Chemische Werke GmbH
- 8.3.9. Kangnam Chemical Co., Ltd.
- 8.3.10. Gunei Chemical Industry Co., Ltd.
- 8.3.11. LERG S.A.
- 8.3.12. UCP Chemicals AG
- 8.3.13. Aries Chemical, Inc.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes