PUBLISHER: Grand View Research | PRODUCT CODE: 1404899
PUBLISHER: Grand View Research | PRODUCT CODE: 1404899
The global furandicarboxylic acid market size is expected to reach USD 66904.3 million by 2030 registering a CAGR of 34.0%, according to a new report by Grand View Research, Inc. 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.