Furandicarboxylic acid (FDCA) is an organic compound that can be used as a replacement for petroleum-based terephthalic acid used in the production of polyethylene terephthalate (PET) plastics and polyester. FDCA provides advantages over traditional plastics as it can be produced from renewable biomass sources making it sustainable. The compound is able to mimic the properties of terephthalic acid and its derivatives, yet with it being renewable and biodegradable.

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. These companies are focusing on increasing production capacity and developing innovative and cost-effective production technologies. The rising environmental concern over non-biodegradable plastics along with regulations banning single-use plastics is generating high demand for bio-based and sustainable alternatives like FDCA. Additionally, the growing textile industry globally is also propelling the need for bio-based polyester production using FDCA.

Market Drivers

One of the major drivers for the Furandicarboxylic Acid Market Demand is the growing focus on bio-based and sustainable production. With depleting fossil fuel reserves and the negative environmental impact of petroleum-based plastics, there is an increasing shift towards renewable biomass-derived chemicals and materials. FDCA can be produced from agricultural waste and non-food biomass which is driving its adoption as a sustainable substitute for petrochemical-based terephthalic acid especially in plastic and polyester production applications. The bio-based production of FDCA using technologies like carbohydrate catalytic conversion of biomass is expected to propel the market growth over the forecast period.