Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “2,5-Furandicarboxylic Acid (FDCA) Market (By Type: 0.98, 0.99; By Application: Chemical, Pharmaceuticals, Scientific Research) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2025”.
LOS ANGELES, April 12, 2019 (GLOBE NEWSWIRE) — The global 2,5-Furandicarboxylic Acid (FDCA) market is expected to reach the market value of around $850 million by 2025 and is anticipated to grow at a CAGR of around 11% in terms of revenue during the forecasting period 2018 – 2025.
Swift expansion of production capacities by chemicals companies globally, is contributing to the rapid development of the market. Continual research and development activities on leveraging the bio-based properties of FDCA are expected to produce beneficial avenues for these companies.
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Varied Applications of Product to Fuel Market Growth
The promising utilization of FDCA in the production of bio-based plastics has made the compound a massive business opportunity in the packaging sector, globally. The application is supported by surging movements of governments in a various countries toward bio-based plastics to battle the expanding issue brought about by plastics contamination. To this end, governments have likewise been dynamic in giving motivating forces, strikingly offering expense discounts, to chemical organizations for the creation of green packaging.
Environmental Friendly Nature To Boost The Market Growth
Developing buyer alertness about the mounting distress of insufficient dumping of bioplastics has additionally been a potential power driving the uses of FDCA in the production of ecological well disposed plastics. The rising stipulate for bio-based and reasonable packaging in different parts of the world is fueling the utilization of FDCA in different bio-based applications. Moreover, frequent variances in the costs of petrochemicals utilized in the plastics fabricating industry have likewise considerable prospects in the FDCA market.
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Customer Preference and Economic/Political Environmental Change
Consumers are expecting green chemical which are less likely to affect the environment at a relative lower prices. Whereas in healthcare industry, consumers are more concerned about the premium quality products driven by health concerns. However, people across the globe are aware about the quality of health related products and not willing to compromise in it. Thus, the major preference of the customers is quality of the product. Overall, 2, 5-fureanmdicarboxylic acid market is the dependent market on the application industries. The market trends get change as per the change in application industries (pharmaceuticals and chemical). Currently, an economic condition of all major countries is nearly stable. However, in African countries due to economic fluctuations, the market is expecting a steady growth. Though in 2015 and 2016 the economies of the countries like America, U.K, India and others have fluctuations which are disturbed the market growth. However, there were signs of revival in 2017 and 2018. Currently the market is expecting a very healthy growth in this region owing to the increasing demand for the automotive vehicles, and increasing per capita income of the people.
Insights on Market Segment
Global 2,5-Furandicarboxylic Acid (FDCA) market is segmented by type, application and geography. Based on different types, the market is segmented into 0.98, 0.99. Also, by application 2,5-Furandicarboxylic Acid (FDCA) is further bifurcated into chemical, pharmaceuticals, scientific research. Based on geography market is further classified into Europe, North America, China, India, Japan, Southeast Asia, ROW.
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The players profiled in the report include Tokyo Chemical Industry Co., Ltd., R&D Synbias Ltd, Eastman Chemical Company, SATACHEM, Toronto Research Chemicals Inc., Avantium Technologies, and more.
Manufacturers are concentrating on new item improvement and development methodologies. For example, Novamont SpA makes bioplastics and biochemicals through the mix of science and farming. It likewise fabricates Celus-Bi, another line of creative and biobased elements for the beauty care products division that have applications in close to home and family items. Besides, the organization has contributed around US$120 Mn to change over a relinquished plant close to Rovigo in Italy’s Po River delta to start industrial production of bio-butanediol one of a chemical composite.
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