Top Facts You Didn’t Know About Furandicarboxylic Acid market & Impact of COVID-19Posted by Mrudula Anil Karmarkar on February 7th, 2024 San Francisco, 07 February 2024: The ReportFurandicarboxylic Acid Market Size, Share & Trend Analysis Report By Application (PET, Polyamides, Polycarbonates, Plasticizers, Polyester Polyols), By Region, And Segment Forecasts, 2023 - 2030 The global furandicarboxylic acid market size is expected to reach USD 66904.3 million by 2030 registering a CAGR of 34.0%, according to a new report by Grand View Research, Inc. FDCA is expected to have great potential as a replacement to other petroleum based chemicals such as adipic acid, terephthalic acid and bisphenol A. The addressable market for FDCA as of 2013 was in excess of 50 million tons with PET and PBT being the largest applications. The market potential for FDCA is expected to reach 498.15 kilo tons by 2020, growing at a exponential CAGR of 367.0% from 2014 to 2020, owing to the projected commercial production of FDCA by Avantium in 2016 using bio feed stock. The market for FDCA in 2013 was 40 tons with production on order basis primarily for scientific applications. Furandicarboxylic acid (FDCA) is an oxidized furan derivative and is a highly stable compound. Owing to its potential of being used as a substitute to a wide variety of petrochemicals such as adipic acid and terephthalic acid, there has been extensive R&D over the past decade. The product was classified by the US Department of Energy as one of 12 priority chemicals for establishing the “green” chemistry industry of the future. Earlier, it was not commercialized in industrial volumes as the production process was not economically viable. The key concern for the economic production of FDCA is the instability of the intermediate, which is needed for the production of FDCA - 5-hydroxymethylfurfural (HMF). The synthesis of 2,5-Furandicarboxylic acid (FDCA) offers greater ease compared to the synthesis of HMF (5-Hydroxymethylfurfural). The challenges associated with HMF synthesis include the requirement of expensive catalysts, high-pressure conditions, HMF decomposition into levulinic and formic acid, and the complexities of separating DMSO (Dimethyl sulfoxide) as a solvent, along with concerns regarding the toxicity of byproducts. Currently, FDCA is primarily supplied for scientific purposes, and the supply is tailored to meet specific client requirements. The anticipated cost-effective production of furandicarboxylic acid (FDCA) is projected to drive significant demand for bio-based FDCA in the market. This bio-based alternative holds great potential for replacing numerous petroleum-based chemicals and bio-based intermediates like levulinic acid and succinic acid. The inherent properties of FDCA contribute to the production of superior end products while minimizing the generation of by-products. A substantial supply of feedstock is required to meet the demands of mass-producing furandicarboxylic acid (FDCA), making raw material suppliers a crucial component of the market. Notably, Cargill, Incorporated, a major player in the industry, stands out as one of the largest suppliers of bio-based raw materials, including sugar. In a strategic collaboration, Avantium has partnered with Cargill to secure a reliable supply of starch-based feedstock for their pilot plant operations. Request sample report of Furandicarboxylic Acid Market@https://www.grandviewresearch.com/industry-analysis/fdca-industry/request/rs1 Furandicarboxylic acid (FDCA) holds significant importance as a renewable feedstock for polyester production and is expected to emerge as a potential substitute for purified terephthalic acid (PTA). This is primarily attributed to its low production cost and biodegradable nature. The relatively simplified conversion process of FDCA into plastics, in comparison to the traditional polyester production using PTA, is expected to drive its demand in the market. These favorable factors position FDCA as a promising alternative in the industry, aligning with the growing emphasis on sustainability and environmentally friendly solutions. Furandicarboxylic Acid Market Report Highlights
Furandicarboxylic acid (FDCA) is an oxidized furan derivative and is a highly stable compound. Owing to its potential of being used as a substitute to a wide variety of petrochemicals such as adipic acid and terephthalic acid, there has been extensive R&D over the past decade. The product was classified by the US Department of Energy as one of 12 priority chemicals for establishing the “green” chemistry industry of the future. Earlier, it was not commercialized in industrial volumes as the production process was not economically viable. The key concern for the economic production of FDCA is the instability of the intermediate, which is needed for the production of FDCA - 5-hydroxymethylfurfural (HMF). The synthesis of 2,5-Furandicarboxylic acid (FDCA) offers greater ease compared to the synthesis of HMF (5-Hydroxymethylfurfural). The challenges associated with HMF synthesis include the requirement of expensive catalysts, high-pressure conditions, HMF decomposition into levulinic and formic acid, and the complexities of separating DMSO (Dimethyl sulfoxide) as a solvent, along with concerns regarding the toxicity of byproducts. Currently, FDCA is primarily supplied for scientific purposes, and the supply is tailored to meet specific client requirements. Furandicarboxylic Acid Market Report Scope
The anticipated cost-effective production of furandicarboxylic acid (FDCA) is projected to drive significant demand for bio-based FDCA in the market. This bio-based alternative holds great potential for replacing numerous petroleum-based chemicals and bio-based intermediates like levulinic acid and succinic acid. The inherent properties of FDCA contribute to the production of superior end products while minimizing the generation of by-products. A substantial supply of feedstock is required to meet the demands of mass-producing furandicarboxylic acid (FDCA), making raw material suppliers a crucial component of the market. Notably, Cargill, Incorporated, a major player in the industry, stands out as one of the largest suppliers of bio-based raw materials, including sugar. In a strategic collaboration, Avantium has partnered with Cargill to secure a reliable supply of starch-based feedstock for their pilot plant operations. Furandicarboxylic acid (FDCA) holds significant importance as a renewable feedstock for polyester production and is expected to emerge as a potential substitute for purified terephthalic acid (PTA). This is primarily attributed to its low production cost and biodegradable nature. The relatively simplified conversion process of FDCA into plastics, in comparison to the traditional polyester production using PTA, is expected to drive its demand in the market. These favorable factors position FDCA as a promising alternative in the industry, aligning with the growing emphasis on sustainability and environmentally friendly solutions. List Of Key Players in the Furandicarboxylic Acid Market
Like it? Share it! More by this author |