2,5-Furandicarboxylic Acid Market to Reach around US$ 700.0 Mn by 2025
2,5-Furandicarboxylic acid (FDCA) has garnered worldwide commercial interest as a bio-based, renewable monomer for the production of polymers and resins. The monomer has emerged as potentially promising for chemicals manufacturers for the production of bio-based plastics, for it can replace terephthalic acid (TPA) and various other petrochemicals for the production of plastics, such as PET. FDCA has been frequently been considered as an intermediate for the production of polyethylene furanoate (PEF) polymers and PET plastic bottles. A substantial thrust for the demand for FDCA comes from the packaging industry for the production of bio-based plastics and from beverages industry for the production of carbonated soft drinks. Intense industry search for environmental-friendly plastics, supported by large regulatory thrusts in several countries, has been imparting constant momentum to the growth of the FDCA market.
The global 2,5-Furandicarboxylic acid market stood at nearly US$300.0 million in 2016 and is projected to expand at 8.2% CAGR during the forecast period of 2017–2025. Rapid expansion of production capacities by chemicals companies, world over, is contributing to the attractive expansion of the market. Ceaseless research and development activities on leveraging the bio-based properties of FDCA are likely to create lucrative avenues for these companies.
The various applications of 2,5-furandicarboxylic acid can be categorized as polyamides, polyesters, plasticizers, polycarbonates, and the others segment. Of these, polyesters is anticipated to lead the pack throughout the assessment period. The vast application of FDCA is attributed to its demand in the synthesis of renewably-sourced polyesters as the monomer replaces TPA. The properties of biocompatibility and biodegradability makes FDCA as the material of choice for making polyesters such as PET and polybutyleneterephthalate (PBT).
The information Presented in this Review is Based on Press-Release by TMR
The promising application of FDCA in the production of bio-based plastics has made the compound of immense commercial value in the packaging industries, world over. The application is bolstered by growing shifts of governments in several nations toward bio-based plastics to combat the burgeoning problem caused by plastics pollution. To this end, governments have also been active in providing incentives, notably offering tax rebates, to chemical companies for the production of green packaging.