2,5-Furandicarboxylic acid Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH4105 | Last Updated On: Aug 02 2022 | Available Formats

> Global 2,5-Furandicarboxylic acid Market Expected to reach a high CAGR 8.7% By 2029: DataM Intelligence

The global 2,5-Furandicarboxylic Acid (FDCA) Market is segmented By Type(99%, 98%, 97%, and Others), By Raw Materials(Carbohydrate and Renewable Biomass), By Application(Polyester, Polyamides, Polycarbonates, Plasticizers, Polyester Polyols, and Others), By End-User(Chemicals, Pharmaceuticals, Scientific Research and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The global 2,5-Furandicarboxylic acid (FDCA) market is estimated to reach at a CAGR of  8.7% during the forecast period (2022-2029).

2,5-Furandicarboxylic acid (FDCA) is an organic, monomer chemical compound produced from certain carbohydrates such as sugar. It is a renewable, greener substitute for terephthalate in the production of polyesters. The U.S. Department of Energy recognized it as one of 12 priority chemicals for establishing the "green" chemistry industry.

It is widely utilized as a precursor for the synthesis of bio-based polyesters and various other polymers. Moreover, it is also used in the synthesis of several metal-organic frameworks (MOFs). A substantial thrust for the demand for FDCA comes from the packaging industry for the production of bio-based plastics and the beverages industry for carbonated soft drinks. Industry requirements for environmental-friendly plastics, supported by large regulatory thrusts in several countries, have driven the FDCA market's growth.

Source: DataM Intelligence Analysis (2022)

Market Dynamics

The growing significance of sustainability and 'go green in the chemical industry drives the market. However, the lack of a proper production method for 2,5-Furandicarboxylic Acid (FDCA) is likely to restrain the market.

The growing significance of sustainability and 'go green' in chemicals drives the market

Polyesters like polyethylene terephthalate (PET) and Polymeric materials, such as polyamides derived from fossil fuels, are important platform materials today to produce a wide range of products. For instance, polyethylene terephthalate (PET) and other polyesters are widely used in food packaging, bottles, and textiles. The annual production of PET products is around 30 million tonnes.

However, fossil-derived feedstocks are not sustainable and do damage to the environment through huge carbon emissions. At present, a global temperature rise of 1.5°C by 2050 is a best-case scenario that will need a rapid reduction in carbon emissions, which cannot be achieved by improvements in renewable energy and energy efficiency alone.

For this purpose, 2,5-Furandicarboxylic Acid (FDCA) can be used to produce polyethylene 2,5-Furandicarboxylate (PEF), which has similar properties to polyethylene terephthalate (PET). It can be synthesized directly from renewable biomass or carbohydrate and hence reduce the dependency on fossil fuels.

Replacing fossil-based PET with plant-based polyethylene Furanoate (PEF) polymers can decrease the carbon footprint of the products by around 50%.

Lack of a proper production method for 2,5-Furandicarboxylic Acid (FDCA) restraints the market growth

2,5-Furandicarboxylic Acid (FDCA) can be manufactured from renewable biomass or carbohydrate. The conversion of lignocellulosic biomass to FDCA is recalcitrant, and multiple reaction steps are required to release the sugars, i.e., glucose, from the cell wall matrix. However, in both processes, the conversion of sugars to FDCA requires dehydration to 5-(hydroxymethyl) furfural as the first step, followed by oxidation to FDCA. The process can be achieved by electrochemical conversion, non-catalytic, and catalytic (chemical or biological) methods. However, the challenge of separating and purifying HMF from the reaction media and using high HMF loading remains. Therefore, the synthesis methods of FDCA are still in development, impacting the market growth.

Segment Analysis

Based on application, The FDCA market is segmented into Polyester, Polyamides, Polycarbonates, Plasticizers, Polyester Polyols, and others.

Of these, polyester dominates the market in which FDCA is used to synthesize renewably sourced polyesters. The bio-compatibility and bio-degradability properties make FDCA the material of choice for making polyesters such as polyethylene 2,5-Furandicarboxylate (PEF). Polyethylene 2,5-Furandicarboxylate (PEF) is a fully renewable and recyclable high-performance plastic. Hence, it opens up possibilities for the industries to reduce waste and positively impact the environment. For instance, as per VTT Technical Research Centre of Finland Ltd., replacing fossil-based PET with plant-based PEF polymers decreases the products' carbon footprint by approximately 50%.

The growing significance of FDCA has led major companies to invest and launch products, contributing to the market growth. For instance, in February 2016, AVA Biochem, a Swiss company, included 2,5-Furandicarboxylic acid (FDCA) in its product portfolio. The company delivers high-quality FDCA to partners and customers engaged in the research and development of new products.

Moreover, the companies are into innovating and developing new efficient technologies to synthesize PEF. For instance, in February 2020, VTT Technical Research Centre of Finland Ltd. developed the use of pectin-containing agricultural waste, such as sugar, citrus peel, and beet pulp, as the raw material for producing bio-based PEF-plastics

Source: DataM Intelligence Analysis (2022)

Geographical Analysis

Based on geography, the 2,5-Furandicarboxylic acid (FDCA) market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.

The European regions dominate the market share owing to the imposition of green procurement policies by the European Union (EU). Moreover, consumer patterns are tilting toward bio-based alternatives in the chemical manufacturing industries across the region, supporting the demand for FDCA. The usage of bio-sourced PEF products in the packaging industries in countries such as the UK, France, and Germany contributes to substantial revenues in the regional market.

North America closely follows Europe and holds a significant share because of the changing lifestyle. The stringent environmental regulations by the government over the use of plastic also support the market. Moreover, the rising inclination towards green products will help create new growth opportunities for the market in the Asia-Pacific in the years to come.

Meanwhile, the Middle East and Africa (MEA), and South America are projected to rise rapidly during the assessment period.

Source: DataM Intelligence Analysis (2022)

Competitive Landscape

The 2,5-Furandicarboxylic acid (FDCA) market is staggered with the presence of local and multinational companies. Major players contributing to the market's growth include Merck KGaA, AVA Biochem, Otto Chemie Pvt. Ltd., Avantium, Toronto Research Chemicals, V & V Pharma Industries, TCI Chemicals (India) Pvt. Ltd, AVA Biochem AG, Thermo Fisher Scientific India Pvt. Ltd., AstaTech, Inc., Novamont S.p.A. The major players are adopting growth strategies such as acquisitions, product launches, and collaborations, contributing to the global growth of the 2,5-Furandicarboxylic acid (FDCA) market.

Merck KGaA

Overview: Merck KGaA is a German multinational science and technology company headquartered in Darmstadt, Germany. The company operates in three businesses: Healthcare, Life Sciences, and Electronics.

Product Portfolio: Merck KGaA manufactures 2,5-Furandicarboxylic acid (FDCA) 97%. It can be used to synthesize bio-based polyesters and several metal-organic frameworks (MOFs).

Key Developments:

  • On January 07, 2021, Merck KGaA announced the acquisition of AmpTec, a Germany-based mRNA contract development and manufacturing organization (CDMO).

Why Purchase the Report?

  • Visualize the composition of the 2,5-Furandicarboxylic acid (FDCA) market segmentation by type, method, application, end-user, and region, highlighting the key commercial assets and players.
  • Identify commercial opportunities in the 2,5-Furandicarboxylic acid (FDCA) market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of 2,5-Furandicarboxylic acid (FDCA) market - level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global 2,5-Furandicarboxylic acid (FDCA) market report would provide access to an approx. 69 market data table, 65 figures, and 180 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Chemical Manufacturers
  • Specialty Chemical Companies
  • Research Professionals
  • Manufacturers0
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