Home > Chemicals & Materials > Advanced Materials > Functional Materials > Furandicarboxylic Acid Market

Furandicarboxylic Acid Market Analysis

  • Report ID: GMI9619
  • Published Date: May 2024
  • Report Format: PDF

Furandicarboxylic Acid Market Analysis

Furandicarboxylic Acid Market Size, By Type, 2021 - 2032 (USD Million)

To get key market trends
  Download Free Sample

Based on type, the market is segmented into 2,5-furandicarboxylic acid, 3,4-furandicarboxylic Acid. 2,5-furandicarboxylic acid was valued at USD 510.2 million in 2023 and is expected to reach a global valuation of USD 990.1 million by 2032. 2,5-Furandicarboxylic acid (FDCA) is gaining prominence in the market as a key bio-based building block for polymer production. Its superior properties, including high thermal stability and barrier performance, drive its demand in various industries such as packaging, textiles, and automotive. Market trends indicate a steady rise in FDCA adoption due to increasing environmental concerns and regulatory support for sustainable alternatives. Technological advancements in FDCA production methods contribute to cost reduction and scalability, further fueling market growth. With its potential to replace petrochemical-derived counterparts, FDCA is positioned to witness continued expansion, shaping the future of eco-friendly materials.

Furandicarboxylic Acid Market Size, By Type, 2021 - 2032 (USD Million)

Based on application, the market is segmented into PET, polyamides, polycarbonates, plasticizers, polyester polyols, and others. PET was valued at USD 241.7 million in 2023 and is expected to reach a global valuation of USD 467.3 million by the end of the forecast period.

The market trend for furandicarboxylic acid (FDCA) showcases a shifting landscape towards sustainability. FDCA, derived from renewable sources, is gaining traction as a viable alternative to the traditional petrochemical-based feedstock used in PET production. This shift is driven by increasing environmental concerns, stringent regulations promoting eco-friendly materials, and growing consumer demand for sustainable packaging solutions. As industries seek to reduce their carbon footprint, there is a noticeable transition towards incorporating FDCA into PET production processes. This trend signifies a fundamental change towards more sustainable practices in the packaging industry, shaping its future trajectory.

Based on end-use, the market is categorized into packaging, automotive, textile, electronics, and others. Packaging was valued at USD 250.6 million in 2023 and is expected to grow at a CAGR of 7.6% to reach a valuation of USD 485.8 million 2032.

The packaging industry is witnessing a transformative shift fueled by the burgeoning furandicarboxylic acid (FDCA) market. FDCA, derived from renewable sources, is emerging as a sustainable alternative to conventional petrochemical-based materials in packaging applications. Its superior properties, including enhanced barrier performance and biodegradability, align with the growing consumer demand for eco-friendly packaging solutions. Market trends indicate a rising adoption of FDCA in various packaging sectors, driven by regulatory support for sustainable practices and increasing environmental consciousness among consumers. This trend underscores a paradigmatic change towards more environmentally friendly packaging options, shaping the future trajectory of the packaging industry.

Asia Pacific Furandicarboxylic Acid Market Size, 2021- 2032 (USD Million)

Asia Pacific dominated the global furandicarboxylic acid market in 2023. Asia Pacific market is expected to grow at a CAGR of 7.5% during the forecast period. Asia Pacific market is expected to reach a valuation of USD 504.3 million by 2032.

In the Asia Pacific region, the industry is witnessing robust growth driven by increasing demand for sustainable materials in various industries. Countries like China, India, and Japan are leading the adoption of FDCA due to stringent environmental regulations and a growing emphasis on renewable resources. Rapid industrialization, coupled with rising awareness about climate change, is propelling the FDCA market forward in the region. This trend underscores Asia Pacific's pivotal role in shaping the global landscape of sustainable materials.

China is at the forefront of the market, witnessing significant growth driven by the country's commitment to sustainability and environmental stewardship. With stringent regulations promoting renewable resources and reducing carbon emissions, China is increasingly adopting FDCA in various industries, including packaging and textiles. The nation's rapid industrialization and emphasis on green technologies further bolster FDCA's market penetration. This trend highlights China's pivotal role in driving the adoption of eco-friendly materials and shaping the global FDCA market.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The global market size for furandicarboxylic acid was valued USD 784.5 million in 2023 and is anticipated to register over 7.8% CAGR between 2024-2032 fueled by eco-friendliness, regulations, tech advancements, collaborations, and increased consumer awareness of sustainability.

The 2,5- furandicarboxylic acid segment of the furandicarboxylic acid market was valued at USD 510.2 million in 2023 and is expected to reach USD 990.1 million by 2032 driven by superior properties and demand in packaging and automotive industries, supported by environmental concerns and regulations.

Asia Pacific market size is expected to reach USD 504.3 million in valuation by 2032, driven by demand for sustainable materials, stringent environmental regulations, and growing awareness of climate change.

Leading players include Avantium, AVA Biochem, Clearsynth, Synvina, TCL America, and V.V. Pharma Industries in the global furandicarboxylic acid industry.

Furandicarboxylic Acid Market Scope

Buy Now

Premium Report Details

  • Base Year: 2023
  • Companies covered: 6
  • Tables & Figures: 230
  • Countries covered: 25
  • Pages: 220
 Download Free Sample