Global 2,5-Furandicarboxylic Acid (FDCA) Market

Global 2,5-Furandicarboxylic Acid (FDCA) Market

2,5-furandicarboxylic acid (FDCA), also referred to as dehydromucic acid and pyromucic acid, has captivated the worldwide business's attention as a bio-based, renewable monomer for the production of polymers and resins. The chemical compound 2,5-furandicarboxylic acid (FDCA) is composed of two classes of carboxylic acids connected by a central furan channel. As a result, it's an excellent monomer for polycondensation interactions with diols or diamines. 2,5-furandicarboxylic acid (FDCA) is derived from various carbohydrates. Because it can replace terephthalic acid (TPA) and other petrochemicals used in manufacturing polymers like PET, the monomer has emerged as potentially advantageous for chemical companies in the creation of bio-based plastics. 2,5-furandicarboxylic acid (FDCA) has a high melting point and is stable in nature. It is insoluble in most common solvents and has a high melting temperature. The worldwide 2,5-furandicarboxylic acid (FDCA) market is predicted to reach USD 5,000 million by 2029, with sales increasing at a CAGR of roughly 35.0% between 2020 and 2029.

Market Segment Analysis Insights

2,5-furandicarboxylic acid (FDCA) is classified according to its type, application, method, end-user and region. The market is divided into two types: 0.98 and 0.99. Depending on the application, the market is divided into polyesters, polyols, polyamides, plasticizers, polycarbonates, PET and others. The market is divided into four categories based on method: dehydration of hexose derivatives, oxidation of 2,5-disubstituted furans, catalytic conversions of various furan derivatives and biological conversion of HMF. The market is divided into end-user segments such as packaging, electronics, textile, automotive, pharma, furniture, building and construction, chemicals, scientific research and others.

Based on regions, the market is further classified into North America (U.S., Canada and Mexico), Europe (Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey and the rest of Europe), Asia-Pacific (APAC) (China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines and the rest of Asia-Pacific), Middle East and Africa (MEA) (Saudi Arabia, U.A.E., Israel, Egypt, South Africa and the rest of Middle East and Africa) and South America (Brazil, Argentina and the rest of South America).

Perspectives on the Leading Market Segment, An Analysis

The diverse applications of 2,5 -furandicarboxylic acid (FDCA) can be categorized as polyesters polyols, polyamides, plasticizers, polycarbonates, PET and other segments. Polyesters are expected to lead the way throughout the forecast period. The manufacture of bio-based polyesters has increased the compound's economic worth in the global flexible packaging sectors. 2,5-furandicarboxylic acid (FDCA) is utilized in the synthesis of renewable polyesters. For its biocompatibility and biodegradability, 2,5-furandicarboxylic acid (FDCA) is the material of choice for the production of polyesters such as polyethylene 2,5-furandicarboxylate (PEF). Polyethylene 2,5-furandicarboxylate (PEF) is a high-performance material that is completely renewable and recyclable. 2,5-furandicarboxylic acid (FDCA) is a common intermediary in the production of PET plastic bottles. As a result, it provides opportunities for industries to minimize waste and positively benefit the environment. The application is backed by governments in various countries shifting toward bio-based polymers to fight the rising plastic pollution problem. Governments have also been active in giving incentives, such as tax breaks, to chemical manufacturers to encourage the creation of green packaging. As a result, income from polyesters is predicted to exceed 1800 USD million by 2029.

Polyamides are likely to dominate the 2,5-furandicarboxylic acid (FDCA) market. Polyamides produce engineering plastics, nylons/fibers and bulletproof vests. Plastics are used in almost everything worldwide and the market for polyamides in the 2,5-furandicarboxylic acid (FDCA) market is expected to rise in the future years. Thus, revenue is predicted to grow at a CAGR of roughly 35% between 2022 and 2029.

The various end-user of 2,5-furandicarboxylic acid (FDCA) can be categorized as packaging, electronics, textile, automotive, pharma, furniture, building and construction, chemicals, scientific research and others. The packaging is likely to be the market leader during the projection period. The fundamental function of packing is to protect its contents from damage that may occur during transportation, handling and storage. Packaging protects the product during its journey from producer to end user. It shields the product from moisture, light, heat and other environmental variables. The growing global need for bio-based and sustainable packaging is driving the usage of 2,5-furandicarboxylic acid (FDCA) in various bio-based applications. As a result of these crucial roles in modern life, it plays a significant part in packaging. This promotes using 2,5-furandicarboxylic acid (FDCA) and propels the market forward.

The various type of 2,5-furandicarboxylic acid (FDCA) can be categorized as 0.99 and 0.98. Throughout the predicted period, the 0.99 type is likely to dominate the market. The various method of 2,5-furandicarboxylic acid (FDCA) can be categorized as dehydration of hexose derivatives, oxidation of 2,5-disubstituted furans, catalytic conversions of various furan derivatives and biological conversion of HMF. Both hexose derivative dehydration and 2,5-disubstituted furan oxidation are anticipated to dominate the market during the forecast period.

Analysis of Regional Markets

The regional markets for 2,5-furandicarboxylic acid (FDCA) are North America, Europe, Asia Pacific, Middle East and Africa and South America. Among these, in 2022, Europe and North America held a significant proportion of the worldwide 2,5-furandicarboxylic acid (FDCA) market. Since, the European Union's (EU) implementation of green procurement laws, European areas have dominated the market share. Furthermore, customer preferences in the chemical manufacturing sectors across the area are shifting toward bio-based alternatives, bolstering demand for 2,5-furandicarboxylic acid (FDCA). Using bio-sourced PEF products in the packaging industries of nations such as the United Kingdom, France and Germany adds significantly to regional market revenues. Because of changing lifestyles, North America closely follows Europe and has a large proportion. The government's severe environmental laws on plastic usage also help the industry.

Demand for 2,5-furandicarboxylic acid (FDCA) is fast increasing in Asia and the region's revenue contribution to the worldwide market is promising. The rapid pace of industrialization in numerous of its economies contributes to the rising demand. Furthermore, shifting consumer preferences toward bio-based alternatives in the region's chemical manufacturing industries is driving demand for 2,5-furandicarboxylic acid (FDCA). One example is China's increasing need for 2,5-furandicarboxylic acid (FDCA). Using bio-sourced PET products in the country's packaging sectors generates significant income in the regional market. Furthermore, the growing preference for green products and services will aid in offering new development prospects for the Asia-Pacific market in the coming years. Meanwhile, growth in the Middle East and Africa (MEA) and South America is expected to accelerate throughout the analysis period.

Market Trends Prevailing and Anticipated in the Market

The market is driven by the increased importance of sustainability and 'go green' in chemicals. It has generated widespread commercial attention as a bio-based, sustainable monomer-producing polymers and tars. The packaging industry is producing bio-based polymers and there is growing interest in 2,5-furandicarboxylic acid (FDCA) from the bundling industry, which is producing bio-based plastics and from the beverages industry, which is producing carbonated soft drinks. The exceptional industrial search for environmentally friendly plastics, supported by massive administrative pushes in a few countries, has been providing consistent energy to the growth of the 2,5-furandicarboxylic acid (FDCA) market.

Consumers anticipate green chemicals that are less likely to harm the environment at reduced prices. In the healthcare market, however, consumers are more interested in high-quality items due to health concerns. However, people worldwide know the importance of health-related product quality and are unwilling to compromise. As a result, the quality of the product is the top priority for buyers. Overall, the 2, 5-fureanmdicarboxylic acid market relies on the application industries. Market trends shift in response to changes in application industries like pharmaceuticals and chemicals. Currently, the economies of all major nations are relatively steady. The industry is now expecting extremely good growth in this area due to increased demand for automotive cars and rising per capita income.

Owing to their superior thermomechanical and barrier qualities, 2,5-furandicarboxylic acid (FDCA)-based polymers are gaining popularity as an alternative for petrochemical polymers. Economical production of 2,5-furandicarboxylic acid (FDCA) is expected to result in a significant demand for bio-based 2,5-furandicarboxylic acid (FDCA) since it may potentially replace several based synthetic compounds as well as bio-based intermediates, for example, succinic acid, dodecanedioic acid and levulinic acid. Polyesters, such as polyethylene terephthalate (PET) and polymeric materials, such as polyamides generated from fossil fuels, are key platform materials used to make various products today. For instance, polyethylene terephthalate (PET) and other polyesters are widely used in food packaging, bottles and textiles. Unfortunately, fossil-derived feedstocks are not sustainable and cause environmental damage due to massive carbon emissions. The world temperature is continuously rising daily, necessitating a quick decrease in carbon emissions, which cannot be reached just by advances in renewable energy and energy efficiency. 2,5-Furandicarboxylic Acid (FDCA) may be used to make polyethylene 2,5-Furandicarboxylate (PEF), which has characteristics comparable to polyethylene terephthalate (PET). It may be directly produced from sustainable biomass or carbohydrate, reducing reliance on fossil fuels. Replacing fossil-based PET with plant-based polyethylene Furanoate (PEF) polymers can reduce a product's carbon footprint by up to 50%. The prospective use of 2,5-furandicarboxylic acid (FDCA) in manufacturing bio-based plastics has created a major economic opportunity for the chemical in the worldwide packaging market.

Growing public awareness of the growing worry about improper bioplastic disposal has also been a possible influence in encouraging the use of 2,5-furandicarboxylic acid (FDCA) in creating environmentally friendly polymers. The growing need for bio-based and cost-effective packaging in many regions of the world is driving the use of 2,5-furandicarboxylic acid (FDCA) in various bio-based applications. Furthermore, regular variations in the pricing of petrochemicals used in the plastics manufacturing industry have significant potential in the 2,5-furandicarboxylic acid (FDCA) market. The strong industrial quest for ecologically acceptable polymers, assisted by significant regulatory thrusts in many countries, has created a continuous pace of growth for the 2,5-furandicarboxylic acid (FDCA) market.

The synthesis of polymers based on 2,5-furandicarboxylic acid (FDCA) is gaining popularity as an alternative for the petrochemical polymer terephthalate acid (TPA) in the production of green polymers such as polyethylene 2,5-furandicarboxylate (PEF), because of their superior thermomechanical and barrier characteristics. However, industrial manufacturing of FDCA-based homopolyesters is hampered by several issues, such as poor optical characteristics, limited ductility and a sluggish crystallization rate. In general, chemical, biological and electrochemical methods are used to produce 2,5-furandicarboxylic acid (FDCA) from biomass or its derived sugars or platform chemicals, with the chemical-catalytic method appearing to be the most promising in terms of yield, reaction rate and product purity. The most interest has been drawn to the oxidative generation of 2,5-furandicarboxylic acid (FDCA) from bio-based 5-hydroxymethyl furfural (HMF), which may be accomplished using electrochemical, catalytic and non-catalytic processes. The current state of the art in manufacturing 2,5-furandicarboxylic acid (FDCA) from HMF, concentrating particularly on chemical-catalytic techniques. The most often used catalysts for chemical catalysis are noble metal oxides; nevertheless, their high cost, low availability and recycling are major barriers to commercial use. Transition metal oxides are suitable alternatives; however, they have a poor 2,5-furandicarboxylic acid (FDCA) yield. Although electrochemical oxidation of HMF can be a suitable alternative approach for 2,5-furandicarboxylic acid (FDCA) synthesis with concomitant H2 generation, yield and product recovery must be enhanced further. Under moderate circumstances, biocatalytic processes may manufacture 2,5-furandicarboxylic acid (FDCA) with a comparable yield; however, it can only be run at a low concentration of HMF with substantially lower productivity. Future work should focus on, but not be limited to, a comprehensive evaluation of different routes in terms of catalyst development and characterization, process parameters, product yield and purity and economic feasibility. The process's kinetics and reaction mechanisms must also be thoroughly explored to guide future process intensification. Thus, the scarcity of raw materials and the absence of a suitable manufacturing process for 2,5-furandicarboxylic acid (FDCA) limit market expansion.

The application is supported by rising government changes in various countries toward bio-based polymers to fight the increasing plastic pollution problem. Governments have also been active in giving incentives, such as tax breaks, to chemical businesses to encourage the creation of green packaging. Producers of bioplastics might sell their goods at reduced rates due to government subsidies and increasing demand. Subsidies can, in theory, take many different forms. They can include encouraging R&D activities, investment assistance for capacity building through public grants or access to low-cost credit, tax exemption laws and direct forms of production subsidies. Government prohibitions on specific fossil-based plastic goods might increase demand for bioplastic products. However, as with taxes, if bans are not discriminated against based on feedstock origin but rather on other characteristics such as reusability or recycled content in manufacture, some bio-based and biodegradable plastic goods will be banned from the market. This will provide advantageous opportunities for the growth of the 2,5-furandicarboxylic acid (FDCA) market. Furthermore, rising demand for bio-based PET, rigorous laws governing the use of phthalate-based plasticizers and increased usage of 2,5-furandicarboxylic acid (FDCA) as a bio-based adipic acid substitute are market factors that will boost the 2,5-furandicarboxylic acid (FDCA) market growth rate.

Growing investment in R&D activities and developing new markets also play a significant part in the growth of 2,5-furandicarboxylic acid (FDCA).

For instance,

  • In December 2021, Avantium made a final investment decision to build its FDCA flagship facility, which will be the world's first factory to produce FDCA on a commercial scale, with a capacity of 5 kilotons per year

Technological developments are transforming medication manufacture and development in the pharmaceutical business. Due to significant R&D investment, consistent technological advancement is envisaged. In the chemical sector, however, significant technological improvements are already ongoing and are set to be implemented as global green consciousness grows. An infinite inventive effort is being made using the bio-based features of 2,5-furandicarboxylic acid (FDCA). This spike in R&D spending and growing new markets will present attractive growth prospects for 2,5-furandicarboxylic acid (FDCA) in the next years.

The long-term movement of crude oil prices substantially impacts the growth of bioplastic demand. Because traditional plastics are mostly made from crude oil, the oil price movement heavily influences their prices. When the price of oil rises, so do the prices of fossil-based plastics, making alternative polymers more appealing as a substitute. As a result, rising oil prices will increase demand for bioplastics. The magnitude of this effect is determined by demand price elasticity. This, in turn, is determined by the perceived substitutability of fossil-based versus bio-based plastic polymers. As a result, it is dependent on the similarity of the materials' key technical qualities for the use cases in mind. The closer a bioplastic material is in terms of technical qualities to its fossil-based competitors, the larger the demand reaction to a rise in crude oil prices. This has significant potential in the 2,5-furandicarboxylic acid (FDCA) market.

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