The global Furandicarboxylic Acid Market size is expected to reach USD 498.2 million by 2020, according to a new study by Grand View Research, Inc. Avantium’s FDCA production facility is expected to come online by in 2016 - 17 with annual capacity reaching 50 kilo tons by 2017. FDCA is expected to have great potential as a replacement to other petroleum based chemicals such as adipic acid, terephthalic acid and bisphenol A. The addressable market for FDCA as of 2013 was in excess of 50 million tons with PET and PBT being the largest applications.
The
market potential for FDCA is expected to reach 498.15 kilo tons by 2020,
growing at a exponential CAGR of 367.0% from 2014 to 2020, owing to the
projected commercial production of FDCA by Avantium in 2016 using bio feed
stock. The market for FDCA in 2013 was 40 tons with production on order basis
primarily for scientific applications.
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Further
Key findings from the study suggest:
- Post commercialization, PET is expected
to be the largest application segment for FDCA accounting for 64% of the
global market in 2020. The growing demand for packaging material coupled
with the need for bio based products is expected to greatly boost the
demand for FDCA.
- Polyamides are expected to be the second
largest application segment in 2020 with a potential market for 80,000
tons. FDCA has the potential to replace adipic acid and its bio based
alternative considering economic production by 2020.
- A limited number of companies
manufactured and supplied FDCA as of 2013 and primarily for scientific
purpose. Avantium is expected to begin construction of its first commercial
FDCA plant with 50 kilo ton capacity in 2015 and is expected to begin
production by 2017.
- Avantium has been a key participant
inFDCA technology development, with partnerships and alliances with key
application clients including The Coca-Cola Company, Danone, Teijin,
Solvay and Rhodia.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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