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Furandicarboxylic Acid Market Poised To Register High Growth Owing To Increasing PET Production

Furandicarboxylic Acid Market


Furandicarboxylic acid (FDCA) is a promising building block for polymers and chemicals. It can directly replace terephthalic acid to produce polyethylene furanoate (PEF), a biobased polyester with similar properties to polyethylene terephthalate (PET). FDCA can also be used to produce polyamides, polyesters, resins and plasticizers with improved performance. With growing environmental concerns regarding plastic waste, biobased and recyclable polymers produced using FDCA provide an attractive alternative to petroleum-based polymers.

The Global Furandicarboxylic Acid Market is estimated to be valued at US$ 8.61 BN in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the furandicarboxylic acid market are Tokyo Chemical Industry Co. Ltd., Chemsky (shanghai) International Co. Ltd, Avantium, Synbias Pharma, V & V Pharma Industries, Carbone Scientific. Tokyo Chemical Industry Co. Ltd. and Chemsky (shanghai) International Co. Ltd are among the leading manufacturers of furandicarboxylic acid.

The Furandicarboxylic Acid Market Size is expected to witness high growth opportunities due to the increasing production of PET bottles and fibers across the world. Transition towards sustainable polymers produced using FDCA also provides multiple opportunities for market growth.

Major players in the FDCA market are focusing on global expansion strategies and capacity additions to cater to the rising demand. Leading companies are setting up manufacturing facilities across North America, Europe and Asia Pacific. Partnerships with end-use industry players will further drive the global furandicarboxylic acid market over the forecast period.

Market drivers:

Growth in PET production is a major market driver. PET production has been increasing at above 5% annually. As FDCA can directly replace terephthalic acid in PET production, this growth directly drives the demand for FDCA. In 2021, PET production was valued at over US$ 60 billion.

Market Restrain:

High production costs of FDCA restricts its large scale use. Currently the production process yields are low and purification costs are high. This makes furan-based polymers less competitive than conventional petroleum-based polymers. Considerable investments are required in research & development to make the production economics of FDCA viable on a commercial scale.

Segment Analysis

The global furandicarboxylic acid market can be segmented based on production methods, applications, and region. By production methods, the 2,5-furandicarboxylic acid produced through catalytic hydrogenation accounts for the largest market share as it is the most commercially viable process. In terms of applications, polymers and plastics dominated the market as FDCA can produce polyethylene furanoate which can replace polyethylene terephthalate in packaging and clothing applications.

Global Analysis

The North America region currently dominates the global FDCA market due to substantial government funding and presence of key players in the region. Countries like US and Canada are actively supporting research activities for commercial production of FDCA. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rapid industrialization, growing population, and increasing focus on developing bio-based polymers in countries like China and India. Continuous technological advancements for developing cost-effective and sustainable production methods will contribute to the growth of the FDCA market in regions like Europe as well.

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