by Furandicarboxylic acid (FDCA) is a primary building block for various polymers and resins that can serve as a more sustainable substitute for petroleum-based monomers. FDCA offers unique advantages over traditional petro-based monomers such as high glass transition temperature and good mechanical properties. It is used in the production of polyester polyols, polyamides, poly (alkylene furanoates), and other polyesters for applications ranging from textiles and films to specialty chemicals. The global FDCA market has witnessed increased interest due to rising environmental concerns and push for adoption of bio-based materials.
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 from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Global Furandicarboxylic Acid are Tokyo Chemical Industry Co. Ltd., Chemsky (shanghai) International Co. Ltd, Avantium, Synbias Pharma, V & V Pharma Industries, Carbone Scientific. Tokyo Chemical Industry Co. Ltd. is a leading producer and supplier of Furandicarboxylic Acid Market Growth with annual production capacity of several thousand tons. Avantium is working on scaling up its YXY technology to commercially produce FDCA from renewable feedstocks.
Growing demand: FDCA finds extensive use in packaging, textiles, automotive interiors and specialty chemicals where it helps reduce reliance on petrochemicals. Rapid industrialization and rise of single-use plastics are propelling the overall demand for sustainable polymers and resins.
Global expansion: Leading FDCA producers are investing in capacity expansions and new plants across Europe and Asia to capitalize on the urgency for green alternatives. Avantium recently opened a pilot plant in Delfzijl, Netherlands with an annual capacity of 1,000 tons.
Market key trends
One of the major trends driving growth in the global FDCA market is the push for adoption of bio-based and biodegradable materials. FDCA can serve as a 100% bio-based building block for various long-chain polymers, and help reduce dependence on petroleum feedstocks. This, along with stringent regulatory push for green chemicals particularly in Europe and China, is increasing commercial interest in FDCA. Advancements in fermentation technologies are also expected to bring down production costs and drive wider commercialization of FDCA over the forecast period.
Porter’s Analysis
- Threat of new entrants: New entrants find it difficult due to presence of established brands and need for significant investment.
- Bargaining power of buyers: Buyers have low bargaining power due to less product differentiation.
- Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes.
- Threat of new substitutes: Threat of substitutes is low as furandicarboxylic acid has unique properties.
- Competitive rivalry: Intense competition exists among existing players.
The global furandicarboxylic acid market is currently concentrated in North America and Europe due to presence of major manufacturers. Asia Pacific is also contributing significantly to market value currently led by China. The furandicarboxylic acid market is expected to witness fastest growth in Asia Pacific region during forecast period due to increasing industrial activities, rising disposable income and growing population in countries like China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
