Market Snapshot

CAGR:8.70%
2020
2028

Source: Reports and data

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Study Period 2020-2028
Base Year 2020
CAGR 8.70%
2,5-Furandicarboxylic Acid (FDCA) Market-companies
2,5-Furandicarboxylic Acid (FDCA) Market-Snapshot

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Market Summary :

The 2,5-Furandicarboxylic Acid (FDCA) market will reach USD 857.3 Million, from USD 441.5 Million in 2020, delivering a CAGR of 8.7% by 2028. The market growth is driven by the imposition of extreme norms against Plastic use and carbon emanations along with a paradigm shift towards sustainable alternatives.

2,5-Furandicarboxylic acid is a significant renewable material for the modern world due to of its potential as a substitute for a variety of petrochemicals, like adipic acid and terephthalic acid. The product is gaining high popularity due to its characteristics of biocompatibility and biodegradability, making it the most preferred material for the manufacturing of polyesters like PET and PBT, and Plastics. The most promising applications for Furan-2,5-dicarboxylic acid are in the manufacturing of polyurethanes, polyamides, and polyesters. The FDCA-based Polyethylene Furanoate (PEF) can potentially reduce the dependence of non-Renewable Energy sources and reduce the usage of PET & PBT by 45%-55%. The U.S. Department of Energy (DOE) considers FDCA as one of the most valued top twelve green chemicals of the future.

Growing consumer awareness regarding the alarming concern of inadequate disposal of plastics is playing a crucial role in driving the demand for FDCA for the production of eco-friendly plastics. Increasing preference for sustainable and bio-based packaging across the globe is expanding the application scope of FDCA in numerous bio-based applications. Moreover, frequent price variations of petrochemicals used in the manufacturing of the plastics will also offer lucrative scope for the 2,5-Furandicarboxylic acid market growth over the coming years.

Several government initiatives in various countries, promoting the use of bio-based plastics to combat the escalating problem of plastics pollution, will boost the 2,5-Furandicarboxylic acid market share. Moreover, government incentives and tax rebates to companies in the chemical industry for the production of Green Packaging may also stimulate FDCA market trends through 2028.

Furthermore, the economical production of FDCA and its potential to substitute various petrol-based chemicals and some bio-based intermediates likeSuccinic Acid and levulinic acid will contribute to product proliferation.

Based on application, the PET segment accounts for 60% of the global 2,5-Furandicarboxylic acid market share and is estimated to witness substantial growth through 2028. PET is extensively used in the food & packaging industry, and increasing inclination towards Bio-based PET will boost segmental growth.

The Polyamides segment accounted for 15% of the market share in 2020 and is anticipated to witness a growth rate of 8.9% through 2028. The plasticizers segment will account for a major chunk of the 2,5-Furandicarboxylic acid market revenue share due to the growing need for alternative phthalate-based plasticizers.

In the regional landscape, Europe and North America are the key revenue generating regions for the 2,5-Furandicarboxylic acid industry. The consistent emphasis of the regulatory agencies in the European Union on green procurement policies and use of bio-based materials in the chemical industries is bolstering the demand for FDCA. In addition, growing consumer awareness regarding green products in the region will favor industry growth.

Key players operating in the global 2,5-Furandicarboxylic acid market are Avantium Holdings NV, Synbias, Carbone Scientific, V&V Pharma Industries, Tokyo Chemical Industry, Novamont Spa, Chemsky, Avalon Industries AG, Corbion NV, and AstaTech Inc., among others.

In January 2019, Avantium, a Dutch biotechnology company, acquired full ownership of its YXY plants-to-plastics technology with the buyout of BASF's shares in a joint venture with Synvina.

On 8th May 2019, the Korea Research Institute of Chemical Technology, a South Korean research team, claimed to have developed a powder-type Catalyst 2,5-Furandicarboxylic acid (FDCA), for the production of bioplastics derived from renewable biomass sources. The catalyst offers economic feasibility as it can be retrieved and reused.

Segments Covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2028. For the purpose of this study, Reports and Data has segmented the Global 2,5-Furandicarboxylic Acid (FDCA) market on the basis of application, end-user, method, channel, and region:

Application Outlook (Revenue, USD Million; 2020-2028)

End-User Outlook (Revenue, USD Million; 2020-2028)

  • Chemical
  • Pharmaceutical
  • Scientific Research

Method Outlook (Revenue, USD Million; 2020-2028)

  • Dehydration of Hexose Derivatives
  • Oxidation of 2,5-Distributed Furans
  • Catalytic Conversions of Various Furan Derivatives
  • Biological Conversion of HMF

Channel Outlook (Revenue, USD Million; 2020-2028)

  • Direct Sales
  • Distribution

Regional Outlook (Revenue, USD Million; 2020-2028)

  • North America
    • U.S.
  • Europe
    • U.K.
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East & Africa

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Key questions answered by the report