Reports And Data

Increasing demand for bio-based PET is a significant factor estimated to stimulate market demand.

NEW YORK CITY, NY, UNITED STATES, February 17, 2022 /EINPresswire.com/ -- The latest industry analysis report published by Reports and Data provides vital data and information relating to the global 2,5-Furandicarboxylic Acid (FDCA) industry and precisely evaluates the forecast market size and revenue growth rate. The global 2,5-Furandicarboxylic Acid (FDCA) Market is expected to reach USD 857.3 Million by 2028, according to a new report by Reports and Data. The extensive application of this chemical is accounted for its demand in the synthesis of renewably sourced polyesters as the monomer replaces terephthalic acid. The characteristics of biodegradability and biocompatibility make 2,5-Furandicarboxylic Acid (FDCA) the most preferred material for making polyesters like PET and PBT.

The promising applications of FDCA in the production of bio-based plastics have resulted in substantial commercial value in the packaging industries across the globe. The use of this chemical is strengthened by increasing the swing of governments in various countries for bio-based plastics to combat the escalating problem triggered by plastics pollution. Governments have also been active in offering incentives, mainly providing tax rebates, to companies in the chemical industry for the production of green packaging.

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Market Overview:
The global materials & chemicals industry involves the production, distribution, sales, and consumption of industrial chemicals, specialty chemicals, commodity (bulk) chemicals, and raw materials such as natural gas, oil, paper & pulp, and metals & minerals. Growth of the global materials & chemicals industry is mainly attributed to fast-paced industrialization and extensive usage of bulk petrochemicals, electronic chemicals, polymers, inorganic chemicals, fertilizers, adhesives, sealants, coatings, and various other products in different industries including oil & gas, pharmaceutical, food & beverage, cosmetics & personal care, textile, manufacturing, petrochemical, and water, and wastewater treatment industries. Technological innovations in the electronics and semiconductor industries, rising demand for nanomaterials, and increasing preferences for environmentally sustainable chemicals and materials are other major factors contributing to the global materials & chemicals industry growth.

Economic production of 2,5-Furandicarboxylic Acid (FDCA) is anticipated to create a huge demand for bio-based FDCA owing to its potential to substitute various petrol-based chemicals and also bio-based intermediates like levulinic acid and succinic acid. The characteristics of this chemical result in superior end products and lesser by-products.

The availability of raw materials may create hindrances in the market growth in the forecast period. The mass production of this chemical requires huge feedstock input which would make the raw material suppliers play a pivotal role in the market.

Key participants include Avantium Holdings NV, Synbias, V&V Pharma Industries, Carbone Scientific, Tokyo Chemical Industry, Chemsky, Avalon Industries AG, Novamont SPA, AstaTech Inc., and Corbion NV among others.

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Further key findings from the report suggest

The application of 2,5-Furandicarboxylic Acid (FDCA) in the manufacturing of PET is estimated to contribute to the largest market share with more than 50% of the market share in 2019 with a growth rate of 8.6% during the forecast period. The use of PET in the food and packaging industry has created a great interest in the development of bio-based PET.

The chemical industry held a significant market share in 2019 and is expected to have a considerable growth rate in the period 2019-2028.

North America and Europe are the key revenue-generating regions in the market. The consistent emphasis of the regulatory agencies in the European Union on bio-based or green procurement policies in the chemicals industries has been a vital factor supporting the demand for 2,5-Furandicarboxylic Acid (FDCA). Moreover, extensive consumer awareness regarding environmental-friendly products in various developed countries of Europe is fueling the growth of the market.

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For the purpose of this report, Reports and Data have segmented the global 2,5-Furandicarboxylic Acid (FDCA) market on the basis of application, end-user, method, channel, and region:

Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
PET
Polyamides
Polycarbonates
Plasticizers
Polyesters Polyols
Others

End-User Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Chemical
Pharmaceutical
Scientific Research

Method Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Dehydration of Hexose Derivatives
Oxidation of 2,5-Distributed Furans
Catalytic Conversions of Various Furan Derivatives
Biological Conversion of HMF

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Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
North America
Europe
Asia Pacific
Latin America
MEA

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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