Furfuryl alcohol price October 2024 and outlook (see chart below)
- North America:US$2.03/KG, 2.5% up
- Europe:US$1.42/KG, 2.9% up
- Northeast Asia:US$1.48/KG, 1.4% up
Business Analytiq assumes no responsibility or liability for any errors or omissions in the content of this site. The information contained in this site is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness, or timeliness.
Furfuryl alcohol price index
This post is a summary of Furfuryl alcohol developments. The price developments of Furfuryl alcohol are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Furfuryl alcohol price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.
The outlook for Furfuryl alcohol prices, on the second tab, is generated from different inputs including:
- Very recent price developments of immediate cost drivers of Furfuryl alcohol prices
- Recent price developments of underlying feedstocks which drive the price of Furfuryl alcohol
- Market futures for both cost drives and feedstocks of Furfuryl alcohol prices
- Adjustment of current supply/demand imbalances in the Furfuryl alcohol market
- Longer term trends in likely demand conditions
Further information on the Furfuryl alcohol price index
What is Furfuryl alcohol
Furfuryl alcohol is an organic compound with the chemical formula C5H6O2. It is a colorless to pale yellow liquid with a faint, characteristic odor. Furfuryl alcohol is derived from furfural, which is obtained from natural sources such as corncobs, sugarcane bagasse, or wood.
Furfuryl alcohol has several industrial applications, including:
Resins
Furfuryl alcohol is a key raw material for the production of furan resins. These resins are thermosetting polymers that exhibit excellent resistance to heat, water, and chemicals. Furan resins are used in foundry sand binders, abrasives, friction materials, and as coatings for corrosion protection.
Foundry Binders
Furfuryl alcohol-based resins are widely used as binders in foundry sand casting. These resins provide good sand consolidation properties and help produce high-quality castings with smooth surfaces and dimensional accuracy.
Adhesives
Furfuryl alcohol is used in the production of adhesives and bonding agents for wood, paper, and composite materials. Furan-based adhesives offer high strength, durability, and resistance to moisture and chemicals.
Solvent
Furfuryl alcohol can act as a solvent for various organic compounds, including resins, polymers, and oils. It is used in industrial cleaning applications and as a solvent for extraction processes.
Chemical Intermediates
Furfuryl alcohol is a versatile chemical intermediate used in the synthesis of other organic compounds. It can undergo various chemical reactions, including hydrogenation, esterification, and polymerization, to produce a wide range of derivatives for different applications.
Flavor and Fragrance
Furfuryl alcohol is sometimes used in small quantities as a flavoring agent or fragrance ingredient in food products, beverages, and perfumes. Its distinctive aroma can impart a pleasant, caramel-like note to certain formulations.
Furfuryl alcohol is considered a hazardous substance and should be handled with care due to its flammable and potentially toxic properties. Proper safety measures and protective equipment are necessary when working with furfuryl alcohol to minimize risks to health and safety.
How is Furfuryl alcohol produced
Furfuryl alcohol is primarily produced from furfural, which is obtained from natural sources such as corncobs, sugarcane bagasse, or wood. The production process typically involves the following steps:
Hydrolysis
Furfural is hydrolyzed using an acid or base catalyst to yield furfuryl alcohol. In this step, the furan ring in furfural is opened, and a hydroxymethyl group (-CH2OH) is added to the molecule.
Neutralization
The resulting furfuryl alcohol is neutralized to remove any excess acid or base catalyst used in the hydrolysis reaction.
Purification
The crude furfuryl alcohol is then purified through distillation or other separation techniques to obtain the desired product with the desired purity and concentration.
The production of furfuryl alcohol is an important industrial process, and the resulting product is used in various applications, including resin production, adhesives, solvents, and chemical synthesis.
What are the properties of Furfuryl alcohol
Furfuryl alcohol possesses several key properties that make it valuable for various industrial applications:
Chemical Structure
Furfuryl alcohol has a chemical formula of C5H6O2 and a molecular weight of 98.1 g/mol. It consists of a furan ring with a hydroxymethyl group (-CH2OH) attached to the carbon atom in the furan ring.
Physical State
Furfuryl alcohol is typically a colorless to pale yellow liquid with a faint, characteristic odor. It is miscible with water and many organic solvents.
Reactivity
Furfuryl alcohol is highly reactive and can undergo various chemical transformations. It can undergo polymerization reactions to form furan resins, and it can participate in esterification, hydrogenation, and other organic synthesis reactions.
Flammability
Furfuryl alcohol is flammable and can form explosive mixtures with air. Proper handling and storage precautions are necessary to prevent fire hazards.
Solvent Properties
Furfuryl alcohol exhibits solvent properties and can dissolve a wide range of organic compounds, including resins, polymers, and oils. It is used as a solvent in industrial cleaning, extraction, and synthesis processes.
Heat Resistance
Furfuryl alcohol-based materials, such as furan resins, exhibit excellent heat resistance and can withstand high temperatures without degradation. This property makes them suitable for applications in foundry sand casting and other high-temperature environments.
Chemical Stability
Furfuryl alcohol is relatively stable under normal storage and handling conditions. However, it can undergo polymerization reactions over time, especially in the presence of acids or bases, which can lead to the formation of solid polymeric materials.
How big is the global Furfuryl alcohol market
The global market size for furfuryl alcohol was estimated to be in the range of hundreds of millions of dollars annually. However, the exact size of the market can vary depending on factors such as demand from end-user industries, pricing trends, supply chain dynamics, and economic conditions.
The demand for furfuryl alcohol is driven by its versatile properties and wide range of applications across industries such as foundry, chemical synthesis, resin production, and pharmaceuticals. Growth in end-user industries, technological advancements, and increasing awareness about sustainable and bio-based materials are expected to drive further growth in the furfuryl alcohol market.
It’s worth noting that the furfuryl alcohol market is influenced by various factors, including raw material availability (such as furfural), regulatory policies, and competition from alternative materials. Additionally, market size estimations may vary depending on different sources and methodologies used for analysis.
According to https://oec.world/en:
In 2021 Furfuryl alcohol and tetrahydrofurfuryl alcohol were the world’s 3468th most traded product (out of 4,641).
In 2021, the top exporters of Furfuryl alcohol and tetrahydrofurfuryl alcohol were China ($197M), Belgium ($24.6M), Netherlands ($17.2M), United States ($10.3M), and Thailand ($7.97M).
In 2021, the top importers of Furfuryl alcohol and tetrahydrofurfuryl alcohol were Japan ($40.5M), Chinese Taipei ($27.2M), South Korea ($26.7M), Germany ($24.1M), and India ($16.5M).
NEED A QUICK DOWNLOAD?
ACCESS TO OUR FULL DATABASE IS US$399/YEAR, WITH A 30-DAY $30 TRIAL
GET THAT DOWNLOAD IN 3 MINUTES!
BusinessAnalytiq provides a database of hundreds of market & price trend data, as well as online tools to set up benchmarks and leading indicators.
Where does the data come from?
- The source of the data are exclusively public non-confidential sources. We have no access to primary data
- This the index trend of the price trend of the "product category" in general, and not a single specification of the product in particular
- The data is a combination of contract and spot pricing
- Our algorithms are set up to eliminate significant product mix impact on the reported price
- We combine public publications, import/export records, trading prices, company announcements, magazine articles, tweets, and other sources of ad-hoc public information.
- The chart shows the our best approximation of the market trend based on our algorithm interpretation of the signals
- For most indexes we have multiple sources and we focus on using statistically-correlated sources
- As a function of our automation, it is likely that recent trends will be adjusted as we discover more information. So, for example, the price trend for February 2024 will be first calculated in February 2024 and adjusted in March, April and May 2024.
- We will update the data trend as more information becomes available, and this means that recent trends will always be adjusted as we get more data available
- The algorithm will regularly revise our understanding of market trends, and indicated market trends may change
- The data is presented in US$. The UOM of measure is shown in the Index list table
- Our automated software and we do our best to create an accurate representation of the trend
Where does the data NOT come from?
- We do not purchase data from any other source and republish it.
- We will not purchase data from any other source and republish it
- We do not extrapolate trends, even for the forecast. We look for other market signals and leading indicators
What data should our company use?
- If you are making decisions driving significant share of profit, we always recommend that you buy data from the companies who invest in direct primary market access such as ICIS, amongst many others
- Our data, at best, represents an estimate of the market trend based on public information
- We have no direct access to the market, and we do not interview suppliers and customers
- Our automated analysis tools in the online software are set up to combine our data with other sources of data
- We do not recommend that you use our data for direct price mechanisms, as we may change and improve the data trends over time, including historical data
What does the quality indication in the main menu mean?
- Quality level A: Data is from a reliable and confirmed source
- Quality level B: Data is from multiple credible sources and there are no major statistical inconsistencies between them
- Quality level C: Data is from multiple credible sources and there are some statistical inconsistencies between them
- Quality level D: Data is from a single credible source, but we cannot verify the data
- Quality level E: Data is either:
- From a single source, which we consider reliable, but we cannot verify the data.
- From 2 or more sources which have some periods of contradicting trends.
- Quality level F: Data is from a single source which we consider indicatively correct, but the data is anecdotal and we cannot verify the data.
What are the disclaimers?
- We assume no responsibility or liability for any errors or omissions in the content of this site.
- The information is provided on an “as is” basis with no guarantee of completeness, accuracy, usefulness, fitness for purpose or timeliness.
- By their nature, outlooks are always uncertain
How often do we update the data?
- We aim to update the data series on the 9th and 24th of each month (but we do not always make it for each chart)
- The data for the current month and recent history are fine-tuned over time.
What are we doing to improve the data?
- We are continually improving our data collection and processing methods
- Pricing data will be updated from time to time as we improve the accuracy
- We are reviewing all data sources in the first half of 2024.
- There will be continuous fine-tuning of the trend and forecast algorithm as part of that.
- The key focus in 2024 is to add many additional indexes
How can i give feedback on the data or request for new indexes
- Feel free to contact us if you have a specific request. You can reach us via the Contact us page