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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/fdca-industry
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.
About Grand View Research
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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