Press release
Global Furandicarboxylic Acid Market Analysis 2024 - Forecast to 2031 | Tokyo Chemical Industry Co. Ltd., Chemsky (shanghai) International Co. Ltd
Furandicarboxylic acid (FDCA) is a dicarboxylic acid derived from furan and used as an alternative to terephthalic acid in the production of polyesters like polyethylene furanoate (PEF). FDCA has potential use cases in production of polyethylene furanoate (PEF) bottles and polytrimethylene furandicarboxylate (PTF) fibers.
Market Dynamics:
The Global Furandicarboxylic Acid Market is witnessing high growth owing to rising adoption of FDCA in PET bottles and fibers. Growing consumer preference for bio-based and renewable materials is propelling growth of PEF bottles made from FDCA. PEF bottles provide superior gas and moisture barrier along with excellent strength and thermal properties as compared to PET bottles. Additionally, PTF fibers derived from FDCA offer high moisture wicking and quick drying properties and find increasing application in sportswear and performance fabrics. Furthermore, supportive government policies and regulations promoting adoption of bio-based materials are also fueling growth of the Global Furandicarboxylic Acid Market.
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Major growth in renewable polymers production is driving the furandicarboxylic acid market
The furandicarboxylic acid market is experiencing significant growth due to the growing demand for renewable polymers from end-use industries such as textiles, packaging, and automotive. Furandicarboxylic acid is considered as one of the crucial building blocks for the production of polyethylene furanoate (PEF), which is a 100% bio-based and recyclable alternative to petroleum-based polyethylene terephthalate (PET). PEF has superior barrier properties compared to PET and helps reduce fossil resource depletion. The packaging industry worldwide is shifting towards sustainable packaging solutions to fulfill stringent environmental regulations and consumer demand for eco-friendly products. This has boosted the consumption of furandicarboxylic acid by packaging manufacturers. In addition, furandicarboxylic acid provides better thermal and mechanical properties to polymers compared to conventional monomers derived from petrochemical sources. The automotive industry is also increasingly adopting bio-based and recyclable materials to manufacture lightweight vehicles and reduce vehicular emissions. This growing substitution of petro-based polymers with renewable polymers produced using furandicarboxylic acid will drive its demand over the forecast period.
Difficulty in establishing commercial furandicarboxylic acid production restrains the market
Setting up a commercial plant for furandicarboxylic acid production is technically challenging and capital intensive, which acts as a major restraint for the furandicarboxylic acid market. Furandicarboxylic acid is synthesized through multi-step chemical reactions from sugar-based feedstocks such as corn, sugarcane, and cellulosic materials. Achieving high conversion rates and yields on an industrial scale with maximum atom efficiency requires sophisticated technologies and proprietary catalysts. Significant research is still ongoing to develop cost-effective and efficient production routes. High setup and operating costs associated with commercial plants discourage companies, especially start-ups, to invest heavily in furandicarboxylic acid production. This bottleneck in establishing large-scale commercial production limits the furandicarboxylic acid supply and increases its price. Addressing these technical and financial challenges in commercial production will help eliminate the restraint on the market growth.
Top Companies Featured in This Report:
★ Tokyo Chemical Industry Co. Ltd.
★ Chemsky (shanghai) International Co. Ltd
★ Avantium
★ Synbias Pharma
★ V & V Pharma Industries
★ Carbone Scientific
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Market Segmentation:
By Product Type:
★ By End User: Textiles, Packaging, Carpets, Automotives, Electronics
By Applications:
★ By Application: PET, Polysters, Polyamides, Polycarbonates, Plasticizers
Key Regions/Countries are Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Why Choose Our Comprehensive Market Report:
• Evaluate numerous aspects of the Global Furandicarboxylic Acid Market outlook through Porter's Five Forces analysis.
• Examine the growth rate and market shares of various product types and applications/end-users within the Global Furandicarboxylic Acid Market.
• Gain insights into the Global Furandicarboxylic Acid Market dynamics across different regions.
• Conduct a thorough Covid-19 Impact Analysis using a robust research methodology.
• Stay updated on the latest developments, market shares, and strategies of key players in the Global Furandicarboxylic Acid Market.
• Delve into a detailed assessment of the market strategies, geographical presence, and business segments of the top players in the Global Furandicarboxylic Acid Market.
• Anticipate key challenges, product advancements, and potential solutions that may influence the market's progress and risks.
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Key Inquiries Addressed in this Report include:
• What was the size of the Global Furandicarboxylic Acid Market in 2024, and what is the projected value by 2030?
• What is the present global market landscape for the Global Furandicarboxylic Acid Market?
• What strategies offer optimal opportunities for growth maximization in the business?
• What recent trends are shaping the Global Furandicarboxylic Acid Market?
• How does the market share of Global Furandicarboxylic Acid Market revenue, sales, and size vary across specific geographical regions?
• Who are the prominent industry players in the Global Furandicarboxylic Acid Market?
• Which segment of the Global Furandicarboxylic Acid Market is experiencing heightened demand?
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