Benefiting from the steady growth of casting production, the demand for furan resin applications continues to rise

Furan resin is a general term for resins produced from furfuryl alcohol and furfural with furan rings as the main raw materials. There are many types. Common ones include furfural resin, furfuryl alcohol resin, furfurone resin, etc., which have the advantages of high efficiency, fast curing speed, and good high-temperature performance. . Furan resin is an important basic material used in industrial casting. Its quality will directly affect the accuracy, performance stability, smoothness, etc. of the casting. It is the most widely used casting resin and has high market demand.

Furan resin uses furfuryl alcohol, methanol, and urea as raw materials, of which furfuryl alcohol is the main raw material. Furfuryl alcohol originates from corn stalks, corn cobs and rice husks. It is an agricultural by-product. The resources are relatively easy to obtain and abundant. The price and cost are low, which is beneficial to the development of the furan resin industry.

Furan resin is currently widely used in the production of medium-sized complex castings in various fields such as nuclear power, automobiles, machine tools, wind power, and ships. Benefiting from policy support, my country’s new energy vehicles and wind power industries have developed rapidly in recent years, driving the market demand for furan resin to rise, which in turn has promoted the continued increase in furan resin production. In 2017, my country’s furan resin output was approximately 450,000 tons, and by 2021, the output will reach 530,000 tons.

According to the “China Furan Resin Industry Brand Market Structure and Competitors Field Investigation Report 2022-2026” released by the Industrial Research Center, The development of the furan resin industry is mainly affected by the casting industry. Currently, my country is the world’s largest casting producer. In 2020, domestic casting output was 52 million tons, accounting for about 50% of the world’s total. As an important casting resin, furan resin has a high consumer demand, and its consumption has shown a growth trend in the past five years. In 2017, my country’s furan resin consumption was approximately 410,000 tons, and will increase to 460,000 tons in 2021.

Castings in my country are mainly used in automobiles, internal combustion engines, agricultural machinery, engineering machinery, mining and metallurgical heavy machinery, etc. Benefiting from the development of new energy vehicles, furan resin has a high demand for applications in automobiles, while wind power equipment and rail transit currently account for a relatively small proportion. There are great opportunities for future development.

There are a large number of companies in the furan resin industry, the market competition is relatively full, and the degree of concentration is low. In the global market, the more representative companies include ASK, Kao Japan, Foseco, Ashland, etc. my country’s furan resin manufacturers include Shengquan Group, Xingye Group, Hangzhou Tianyu, etc. Among them, Shengquan Group is the world’s largest furan resin manufacturer, with an annual production capacity of approximately 150,000 tons.

Industrial analysts said that furan resin is a common resin for castings and has benefited from the rapid development of new energy vehicles, wind power and other industries. , my country’s casting output has grown steadily, which is good for the development of the furan resin industry. my country has abundant agricultural by-product resources, which is conducive to the production of furan resin, and has gradually become the main furan resin producing country in the world. The domestic Shengquan Group has a greater influence in the global market.