2,5-Furandicarboxylic Acid Global 2,5-Furandicarboxylic Acid (FDCA) Market reached USD 253.9 million in 2022 and is expected to reach USD 1,513.0 million by 2030, growing with a CAGR of 25.0% during the forecast period 2023-2030. During the forecast period, increasing demand for sustainable products is likely to drive the growth of the global 2,5-furandicarboxylic acid (FDCA) market.
As environmental and sustainability concerns become more critical due to increasing consumer awareness, industries are seeking eco-friendly alternatives. FDCA demand is expected to witness significant growth over the forecast period.
Ongoing research to development new economical methods for commercial FDCA production are likely to augment market growth. New production methods could lower costs and thus encourage wider adoption. In January 2023, scientists from the University of Electronic Science and Technology of China in Chengdu, China published a paper detailing the alternative method for electrocatalytic oxidation of 5-hydroxymethylfurfural to synthesize 2,5-furandicarboxylic acid.
2,5-Furandicarboxylic Acid Market Dynamics
Growing Emphasis on Sustainability in the Chemical Industry
Polymers, polyesters and polyamides have wide-ranging uses across various industries. It could even be argued that these materials are at the core of the modern economy. Polymers, polyesters and polyamides are primarily manufactured from petroleum-based hydrocarbons. The low cost and abundance of petroleum-based hydrocarbons make them ideal as feedstock material for producing various chemicals and materials.
However, the production and usage of petroleum-based hydrocarbons lead to major environmental impacts, including marine pollution and the emission of greenhouse gases. The continued greenhouse gas emission is leading to climate change and global warming and industrial processes are among the leading sources of greenhouse gas emissions.
The global chemical industry is gradually moving away from utilizing petroleum-based hydrocarbons to more sustainable feedstock materials. 2,5-furandicarboxylic acid is an organic compound mainly produced by dehydration of hexose derivatives. Fructose, a common sugar found in plants and animals, is primarily utilized as a precursor for 2,5-furandicarboxylic acid production. The shift towards using sustainable feedstock materials is part of improving ESG (environmental, social and corporate governance) standards by leading chemical manufacturers.
Growing Demand for Bioplastics
Conventional plastics are manufactured using natural gas, crude oil or other hydrocarbon polymerization. Plastic is a versatile, durable and cheap material and is impervious to many fluids and chemicals, making it ideal for a wide range of commercial and industrial applications. However, the same properties that make plastic versatile also make it hazardous to the environment.
Plastic is not biodegradable and its ever-growing usage has led to a major global plastic waste problem. Plastic particles accumulate in the Earth's major ecosystems as micro and macro debris. The growing plastic waste threatens marine and land wildlife and is causing irreversible damage to their natural habitats.
The growing concerns about conventional plastics have led to increased demand for bioplastics. Bioplastics are mainly produced from renewable sources such as vegetable and animal fats, biomass and recycled food waste. 2,5-furandicarboxylic acid (FDCA) is an organic compound derived from natural sources. It is used as a substitute for hydrocarbon-derived terephthalic acid in bioplastics production.
Challenges in Mass Production
2,5-furandicarboxylic acid (FDCA) is a chemical compound mainly synthesized through the dehydration of hexose derivatives found in sugars. Another production method is the catalytic conversion of furan derivatives, mainly 5-hydroxymethylfurfural (HMF). Various chemical, biological and catalytic methods are undertaken for synthesizing 2,5-furandicarboxylic acid. However, all methods of synthesis present their unique challenges.
The catalytic conversion of 5-hydroxymethylfurfural (HMF) is considered the most promising method for FDCA production. However, oxides of noble metals are required for catalysis, which presents challenges in terms of costs and recyclability. Furthermore, the FDCA obtained from this reaction must undergo extensive treatment for purification. Relatively economical transitional metals can be used as catalysts, leading to poor FDCA yield.
The high variation in the quality of raw materials complicates production operations. Ensuring stable supplies of industrial quantities of pure hexose and furan derivatives is a major challenge. Commercial FDCA production requires extensive capital investment and major chemical manufacturers are reluctant to make major investments for a niche chemical with a difficult production process.
Segment Analysis
The global 2,5-furandicarboxylic acid (FDCA) market is segmented based on type, raw material, application, end-user and region.
Carbohydrates are the Most Preferred Raw Material for FDCA Production
Carbohydrates are the most preferred raw material for commercial FDCA production and accounted for nearly 85% market share in 2022. Using cobalt, manganese or bromine oxidation catalysts, the crude product combination of traditional acid dehydration of carbohydrates can be dissolved in acetic acid and transformed into FDCA. Since water will be produced during the dehydration process, it would be preferable if the acetic acid concentration was high enough for the oxidation reaction mixture to include less than 10% water.
Furthermore, carbohydrates are easy to source in large quantities, making them highly desirable for commercial FDCA production. Although renewable biomass is a more sustainable feedstock material, it cannot be sourced easily in large quantities and is extremely vulnerable to supply chain volatilities and disruptions.
2,5-Furandicarboxylic Acid Market Geographical Share
New Government Regulations are Likely to Propel Market Growth in Asia-Pacific
Asia-Pacific accounted for nearly a third of the global market in 2022 and is expected to be the fast growing region during the forecast period, with a CAGR of 29.5%. Growing demand for bio-sourced PET materials from the regional packaging industry is expected to be a major factor in driving market growth during the forecast period.
China, India and Japan are among the leading plastic producers in the region and are undertaking various strategies to diversify towards adoption of bio-based feedstock materials. For instance, China has produced furfural, the precursor for FDCA, from corn cob waste. New government policies to curb plastic waste will augment demand for FDCA in the region. For instance, in December 2022, the Indian government announced complete phase out of non-woven plastic bags. Manufacturers are likely to switch to bio-based feedstocks such as FDCA in the wake of plastic bans.
Major Key Players
The major global players include Merck KGaA, AVA Biochem AG, Otto Chemie Pvt. Ltd., Avantium, Toronto Research Chemicals, V & V Pharma Industries, Tokyo Chemical Industry Co., Ltd., Thermo Fisher Scientific, AstaTech, Inc. and Novamont S.p.A.
COVID-19 Impact Analysis
The global 2,5- furandicarboxylic acid (FDCA) market experienced setbacks in owing to the impact of the COVID-19 pandemic. Lockdowns and other movement restrictions imposed by governments to curb the spread of the pandemic caused disruptions in the production of FDCA, its derivatives and precursors.
Furthermore, research and developmental activities were severely affected by the pandemic. The pandemic delayed the testing and commercial deployment of new types of applications. In the immediate aftermath of the pandemic, supply chain disruptions still linger, creating challenges for producers as they ramp up production in response to increased demand.
Russia- Ukraine War Impact Analysis
The ongoing conflict between Russia and Ukraine is unlikely to affect the global market at large. Most of the major developments in the global market are occurring in North America and Asia-Pacific and are unlikely to be impacted by the war. Furthermore, both Russia and Ukraine had negligible demand for FDCA during the pre-war period.
Key Developments
• In January 2023, Henkel, a major German chemicals manufacturer, signed an agreement with Avantium to purchase FDCA for the development of sustainable polyurethane adhesives for electronic applications.
• In February 2023, Avantium N.V., a growing technology company in renewable chemistry and Origin Materials, Inc, a U.S.-based sustainable materials company announced a partnership to accelerate the production of FDCA that are used in advanced chemicals and plastics.
• In April 2022, Avantium, a Dutch company specializing in material technology, launched the construction of a new FDCA production plant at Chemie Park in Delfzijl, Netherlands.
Why Purchase the Report?
• To visualize the global 2,5-furandicarboxylic acid (FDCA) market segmentation based on type, raw material, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of 2,5-furandicarboxylic acid (FDCA) market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global 2,5-furandicarboxylic acid (FDCA) market report would provide approximately 64 tables, 72 figures and 195 Pages.
Target Audience 2023
• Polymer Manufacturers
• FDCA Manufacturers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Raw Material
- 3.3. Snippet by Application
- 3.4. Snippet by End-User
- 3.5. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Growing emphasis on sustainability in the chemical industry
- 4.1.1.2. Growing demand for bioplastics
- 4.1.2. Restraints
- 4.1.2.1. Challenges in mass production
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. 99%*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. 98%
- 7.4. 97%
- 7.5. Others
- 8. By Raw Material
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Raw Material
- 8.1.2. Market Attractiveness Index, By Raw Material
- 8.2. Carbohydrates*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Renewable Biomass
- 9. By Application
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
- 9.2. Polyester*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Polyamides
- 9.4. Polycarbonates
- 9.5. Plasticizers
- 9.6. Polyester Polyols
- 9.7. Polyethylene Furanoate (PEF)
- 9.7.1. Bottles
- 9.7.2. Fibers
- 9.7.3. Films
- 9.8. Others
- 10. By End-User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
- 10.2. Chemicals*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Pharmaceuticals
- 10.4. Scientific Research
- 10.5. Others
- 11. By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Raw Material
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Raw Material
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. UK
- 11.3.7.3. France
- 11.3.7.4. Italy
- 11.3.7.5. Spain
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Raw Material
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Raw Material
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Raw Material
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Company Profiles
- 13.1. Merck KGaA*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Recent Developments
- 13.2. AVA Biochem AG
- 13.3. Otto Chemie Pvt. Ltd.
- 13.4. Avantium
- 13.5. Toronto Research Chemicals
- 13.6. V & V Pharma Industries
- 13.7. Tokyo Chemical Industry Co., Ltd.
- 13.8. Thermo Fisher Scientific
- 13.9. AstaTech, Inc.
- 13.10. Novamont S.p.A.(*LIST NOT EXHAUSTIVE)
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
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