GLOBAL FURANDICARBOXYLIC ACID MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market News

Recent Developments:

• In December 2021, Avantium achieved a significant milestone by obtaining financing of US$ 100 Mn for the development of a furandicarboxylic acid (FDCA) production plant in Delfzijl, Netherlands. This financial boost enabled Avantium to advance its objectives to set up this facility, expected to be a key player in FDCA production.
• Avantium is a chemical technology company that develops and commercializes innovative technologies for the production of bio-based plastic and chemical products. The company is a frontrunner in developing and commercializing innovative chemistry technologies in order to produce chemicals and materials based on renewable sources. Avantium's renewable chemistry business leverages YXY technology to develop and commercialize products that are utilized as building blocks for materials such as plastic bottles for beverages, films for food packaging and electronics, coatings, fibers for textiles, and engineering plastics.
• Furandicarboxylic acid is an organic chemical compound and a derivative of oxidized furan subsidiary. It is also known as 2 ,5-furandicarboxylic acid (FDCA) and consists of two carboxylic acid groups attached to the central ring.
• Synvina, a joint venture of BASF and Avantium, focuses on creating bio-based chemicals, specifically FDCA (2, 5-Furandicarboxylic Acid), enabling the production of biobased plastics like PEF (polyethylene furanoate), contributing to sustainable solutions in packaging and other industries. Avantium is a leading chemical technology company and a forerunner in renewable chemistry, with a focus on developing efficient processes and sustainable products made from biobased materials, including the innovative YXY technology. The collaboration between BASF and Avantium represents a significant step towards the commercialization of bio-based chemicals and materials, contributing to the shift towards more sustainable and environmentally friendly products.