Analysis of 5-Hydroxymethylfurfural Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research by Fact MR., the 5-Hydroxymethylfurfural market is anticipated to witness moderate growth during 2021-2031 with a CAGR of 2.51%. An upsurge in demand for bio-based chemicals will mean extensive opportunities in near future, however, sales of 5-Hydroxymethylfurfural for the synthesis of bio-based polyester provide momentum.
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5-Hydroxymethylfurfural has been identified as the key intermediate in the production of polymers and biomass-derived fuels. It is a platform chemical that has been intensively used in research & development. 5-HMF is considered one of the important chemicals in biochemistry because of its unique properties. It is also used as a principal ingredient for several potential products. 5-HMF has a promising application as an active pharmaceutical ingredient (API) as well as a chemical base for the production of 2,5 dimethylfuran, liquid biofuel.
Additionally, the growing demand for 2,5-dimethylfuran (DMF) is causing an escalation in the requirement of 5-Hydroxymethylfurfural, because it can be converted to 2,5-dimethylfuran (DMF), a biofuel with the potential to replace bioethanol due to greater energy content. Furthermore, increasing adoption of 5-HMF in several other applications such as formaldehyde replacement in resins, coatings and adhesives and as active natural ingredients in the nutraceuticals and dietary foods is fuelling the overall 5-hydroxymethylfurfural (5-HMF) (CAS 67-47-0) Market demand.
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An upsurge in demand for polyethylene furanoate (PEF) drives the demand for 5-Hydroxymethylfurfural. The oxidation of 5-Hydroxymethylfurfural to FDCA (2,5-furandicarboxylic acid) forms the basis for the production of PEF (polyethylene furanoate).
The reason behind the growing utilization of polyethylene furanoate is growing awareness towards a bio-based economy. Polyethylene furanoate is considered as next-generation polyester which is 100% recyclable and has the potential to replace widely used polymers such as PET (polyethylene terephthalate), a polymer derived from conventional synthetic resources.
The packaging of food and beverages witness the high volume consumption of several polymers. Among all the polymers used in food & beverage packaging industry, PET accounts for the majority market share. Besides, a gradual shift towards bio-based economy, is causing an escalation in the requirement of bio-based polymer such as PEF, which in turn is fuelling the demand for 5-Hydroxymethylfurfural.
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Europe is one of the leading consumers and producers of bio-based chemicals across the globe. Europe bio-based chemicals business is set to witness substantial growth during the forecast period. 5-Hydroxymethylfurfural (HMF) is one of the emerging “platform of chemicals” obtained from biomass in the region. 5-HMF became the centre of attraction in Europe after it had been included in the top 10 list of chemicals obtained from biomass.
Additionally, the region is the base of a world-leading manufacturer of 5-HMF named “AVA BIOCHEM”. The company produced over 65% of the 5-HMF in 2018. Currently, Europe has the world’s largest export volume along with the highest production globally.
The region produces both industrial and food-grade 5-Hydroxymethylfurfural. Out of the two, industrial grade’s production is higher in comparison to food grade. The region had also accounted for over 45% of the market share in terms of revenue generation from industrial grade in which over 35% revenue was generated from the regional market and approx. 10% of the revenue was generated from exports to other regions.
The Asia Pacific region is considered to be the second-largest marketplace for 5- Hydroxymethylfurfural. China along with other Asian countries such as Japan, South Korea, India and Indonesia has the largest number of consumers of PET in the food and beverage packaging industry.
To reduce the use of PET, countries across Asia have already started finding an alternative solution, and are investing heavily to support the ongoing researches in the market. China had already started using PEF (Polyethylene furanoate), which is being obtained indirectly from 5-HMF.
Talking about the market share of 5-HMF, China holds over 60% of the regional share followed by Japan (19%), South Korea (12%) and the rest of the Asian countries which accounts for approx. 8% of the regional market share.
Some of the leading manufacturers and suppliers of 5-Hydroxymethylfurfural include
Globally, the 5-Hydroxymethylfurfural business is partially fragmented in nature. The majority of the leading manufacturers and suppliers have focused on investment, acquisitions, capacity & portfolio expansion, and brand development to meet the emerging as well as deficit demand. Besides, they are also focusing on longstanding contracts with consumers from associated industries.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
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The 5-Hydroxymethylfurfural market is expected to grow at a 2.51% CAGR from 2021 to 2031
By 2031-end, 5-Hydroxymethylfurfural sales are likely to reach US$ 96.80 Billion
Merck, Zhejiang Sugar Energy Technology Co. Ltd., AVA Biochem, Penta Manufacturer, and Robinson Brothers are some leading 5-Hydroxymethylfurfural market players.
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