The Global Furandicarboxylic Acid Market is a rapidly emerging market owing to the growing need for sustainable polymers and chemicals. Furandicarboxylic acid (FDCA) is an organic compound which is a building block used in the production of various polymers and resins. FDCA can replace terephthalic acid which is derived from fossil fuels. FDCA provides many advantages over conventional polymers such as lower toxicity, biodegradability and higher performance. It is widely used for the manufacturing of polyethylene furandicarboxylate (PEF), polytrimethylene furandicarboxylate (PTF), polybutylene furandicarboxylate (PBF) and others which finds applications in bottles, fibers and films. The low cost production of furan through renewable resources such as agricultural waste makes FDCA a highly sustainable alternative to fossil fuel-based polymers.

The Global Furandicarboxylic Acid Market is estimated to be valued at US$ 8.61 BN in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Furandicarboxylic Acid Market are Tokyo Chemical Industry Co. Ltd., Chemsky (shanghai) International Co. Ltd, Avantium, Synbias Pharma, V & V Pharma Industries, Carbone Scientific. Key players operating in the Global Furandicarboxylic Acid Market are focusing on expanding their production capacities and global footprint to cater to the growing demand. Tokyo Chemical Industry Co. Ltd. is one of the major manufacturers with over 50% market share with production facilities in Japan, China and Germany. Chemsky (shanghai) International Co. Ltd is another leading producer based out of China.

The Furandicarboxylic Acid Market Demand is expected to witness significant growth owing to the growing demand for sustainable polymers from end-use industries such as packaging, fibers and automotive industries on account of stringent environmental regulations regarding the use of fossil fuel-based polymers.

Key players are expanding globally with new production plants to cater to the demand from different geographies especially in Asia Pacific and North America. Avantium has collaborated with BASF to produce FDCA on a commercial scale with a 30,000 metric ton per year plant in Antony, France by 2023.

Market Drivers

The growing environmental regulations regarding the use of single-use plastics and fossil fuel-based polymers is a key factor driving the demand for sustainable polymers manufactured using furandicarboxylic acid. FDCA based polymers provide a viable alternative with properties equivalent or better than conventional plastics while reducing dependence on crude oil.

Rising consumer preference for eco-friendly products along with initiatives by governments worldwide to promote the use of bio-based and biodegradable materials is further propelling the Global Furandicarboxylic Acid Market. Continuous research and development by leading players to lower the production costs of FDCA through improved catalyst systems using industrial waste as raw material will help boost the market growth over the forecast period.