Global Furandicarboxylic Acid Market – Rising Demand from Carbonated Soft Drink Market to Boost Growth| Technavio

LONDON–(BUSINESS WIRE)–#Research–The latest market research report by Technavio
on the global
furandicarboxylic acid (FDCA) market predicts a CAGR of
around 28% during the period 2018-2022.

The report segments the global furandicarboxylic acid market by
application (PET, polyamides, polycarbonates, plasticizers, and
polyester polyols) and by geography (the Americas, EMEA, and APAC). It
provides a detailed illustration of the major factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

Here are some key findings of the global furandicarboxylic acid
market, according to Technavio chemicals
and materials researchers:

• Rising demand from carbonated soft drink market: a major market driver
• Reduction in rigid packaging waste: emerging market trend
• In 2017, the Americas accounted for approximately 45% of the global
  furandicarboxylic acid market
• In 2017, the PET sector held the largest share of the market

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Rising demand from carbonated soft drink market: a major market driver

The rising demand from carbonated soft drink market is one of the major
factors driving the global furandicarboxylic
acid market. The CSD segment is the largest consumer of
bio-based PET and is anticipated to retain its dominant position during
the forecast period. Bio-based PET is likely to be the key sustainable
packaging material in BRICS during the forecast period. Strong
advertising campaigns and promotional activities in the cola
sub-segments have promoted the growth of the bio-based PET segment. In
2016, around 40% of the amount of bioplastic that was produced across
the world was used by the packaging segment.

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Reduction in rigid packaging waste: emerging market trend

The post-consumer packaging market in Europe and the Americas mainly
depends upon the national legislation and the availability of
infrastructure for collection and recovery of waste. It is estimated
that at present, around 43% of post-consumer plastics are disposed of by
incineration or burial without energy recovery or landfills. FDCA can be
used in several forms after the defined time of recycling. Plastic
bottles are sorted and crushed, washed, dried, and processed as
granulates for bottles, chairs, and rain dress. Those plastics that
cannot be sustainably recycled can be used in efficient waste-to-energy
facilities to produce electricity and heat.

According to a senior analyst at Technavio for research on specialty
chemicals, “Emissions are subject to strict regulations and
control standards, and the plastics are used as fuel for industrial
processes. They can be used as replacements for fossil fuels to produce
electricity for heating and cooling millions of homes. Bio-based rigid
packaging is a major recycling method. At present, the recycling and
recollection of bio-based rigid packaging are limited. However, there is
tremendous scope for innovative solutions in the future in this field.”

Global market opportunities

In 2017, the Americas accounted for approximately 45% of the global
market, followed by EMEA and APAC. EMEA contributed to the
second-highest market share due to the green initiatives that were
undertaken by the governments in the region. Also, the FDCA
market in the Americas is expected to witness substantial growth
because of the presence of Mexico and the US, which are the two key FDCA
markets. Also, factors such as industrialization and increasing spending
on construction activities in China and India are expected to drive the
FDCA market in APAC.

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