The global 2,5-furandicarboxylic acid market was esteemed at around US$ 300.0 Mn in 2016 and is foreseen to extend at a CAGR of over 8.2% from 2017 to 2025, as indicated by another report distributed by Transparency Market Research (TMR) titled ‘2,5-Furandicarboxylic Acid (FDCA) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.’ Expansion of the global 2,5-furandicarboxylic acid market is driven by ascend sought after from the carbonated soda pop industry and administrative help. The 2,5-furandicarboxylic acid market in Asia Pacific is relied upon to extend at a CAGR of over 9.0% during the figure time frame. Good government guidelines, improvement and development of new plants by global makers, and expanded interest for biobased bundling are probably going to drive the 2,5-furandicarboxylic acid market in the locale.
- Rise in Demand for Environmentally Friendly Plastics and Legislative Support
Increasing awareness about environmental problems and severe regulations against plastic usage and carbon emissions are anticipated to propel the 2,5-furandicarboxylic acid market. Changing lifestyles and rise in demand for bio-based packaging among consumers are expected to significantly boost the market. Technological advancements and rise in investments in research and development of biobased chemicals and materials are projected to be expansion opportunities for the 2,5-furandicarboxylic acid market. However, high cost compared to conventional polymers is likely to hamper the 2,5-furandicarboxylic acid market.
- Polyester Application Segment to Dominate the Global 2,5-Furandicarboxylic Acid Market
In terms of application, the 2,5-furandicarboxylic acid market can be divided into polyesters, polyamides, polycarbonates, plasticizers, and others. The polyesters segment is anticipated to dominate the market during the forecast period. 2,5-furandicarboxylic acid replaces terephthalic acid and by using renewable EG, a 100% renewable polyester. The polyester has polymers’ characteristics of biodegradability and biocompatibility, which increases the market demand. Governments across the world are encouraging the usage of biobased products, which is increasing demand for 2,5-furandicarboxylic acid from the packaging industry. Imposition of government norms against carbon emissions and plastic usage is responsible for the rise in demand for 2,5-furandicarboxylic acid based products. Increase in awareness regarding environmental issues is a key driver for the 2,5-furandicarboxylic acid market, applicable to beverage industry. Increase in the rate of urbanization across various regions around the world is an essential expansion indicator for the 2,5-furandicarboxylic acid market.