As per the report, the global demand for polyethylene furanoate (PEF) market size was valued at approximately USD 19.2 billion in 2023 and is expected to generate revenue of around USD 37.9 billion by 2032, growing at a CAGR of around 7.85% between 2024 and 2032.
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Polyethylene furanoate is a recyclable polymer that is 100% bio-based and is produced from plant-derived renewable raw materials (sugar). Polyethylene furanoate provides a variety of advantages, including a lower melting point, superior barrier performance, and a high glass transition temperature. Additionally, it is recyclable, which reduces its carbon imprint. Different products, including bottles, drink containers, film sheets, and fiber sheets, as well as a variety of packaging products, are manufactured using polyethylene furanoate. Its further implementation and utilization are currently being investigated by numerous institutes and sectors. Another investment in tools and machines is not required to be included in order to employ PEF. Additionally, it may be recycled through PET processes and processed at the same facility as PET.
The research encompasses the drivers and restraints of the polyethylene furanoate market, as well as the influence they have on demand during the forecast period. Furthermore, the report investigates various trends and opportunities in the global and regional polyethylene furanoate market.
The rapidly expanding food and beverage industry, in conjunction with the increasing use of polyethylene furanoate in the packaging industry, is anticipated to be one of the primary factors driving future market growth. The future resolution of environmental issues is likely to be influenced by the increase in the use of polyethylene furanoate. PEF is composed of approximately 70% mono-ethylene glycol and 30% biologically derived furandicarboxylic acid (FDCA). It is now recognized as the most suitable alternative for sustainable packaging over the forecast period due to its relatively high biodegradability, rendering it less harmful to the environment and more biodegradable than oil-based PET.
In addition, the textile industry uses polyethylene furanoate extensively to produce bio-based fibers at present. This is expected to increase the consumption of polyethylene furanoate. However, the future development of the market is expected to be impeded by the presence of PEF substitutes, such as bio-based PET. Nevertheless, the primary objective of R&D specialist firms is to produce and market their products.
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The Global Polyethylene Furanoate (PEF) Market is segmented based on product, application and region
Global Polyethylene Furanoate (PEF) Market: Product Segment Analysis
● Bio-based
● Plant-Based
Global Polyethylene Furanoate (PEF) Market: Application Segment Analysis
● Bottles
● Films
● Fibers
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The Global Polyethylene Furanoate (PEF) market profiles key players such as:
● Mitsui & CO. LTD.
● Toyo Seikan Co. Ltd.
● Avantium
● Danone
● Tereos
● Toyobo Co. Ltd.
● AVA Biochem AG
● ALPLA Werke Alwin Lehner GmbH & Co KG
● Swire Pacific Ltd.
● Synvina
● Corbion NV
Regional Analysis of the Polyethylene Furanoate (PEF) Market
The Asia Pacific is expected to be a profitable market in the near future due to the expanding packaging industry in China and India, as well as a favorable outlook for the consumer goods, food & beverage, and pharmaceutical sectors. Additionally, North America is anticipated to experience substantial growth in the production of bio-based chemicals as a result of the strict domestic regulations on non-recyclable plastic consumption and the growing environmental awareness of the need to reduce greenhouse gas emissions.
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