The global polyethylene furanoate (PEF) market size reached US$ 31.42 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 47.69 Million by 2028, exhibiting a growth rate (CAGR) of 6.50% during 2023-2028. The growing awareness among individuals about utilizing renewable and bio-based materials, favorable government initiatives, and rising application in the packaging industry represent some of the key factors driving the market.
Polyethylene furanoate (PEF) refers to an aromatic polyester that is manufactured from furandicarboxylic acid (FDCA) and polymerized with ethylene glycol. It is cost-effective, non-toxic, and recyclable and offers high tensile strength, saves energy, and can be processed at low temperatures. It has thermal properties, high glass transition temperature, lower melting point, and reduced carbon footprint. It also has a higher barrier to oxygen, carbon dioxide, and water vapor and is a real bio-based alternative to petroleum-based polyethylene terephthalate (PET). It assists in improving packaging sustainability and requires fewer additives in the manufacturing process. It also aids in extending shelf life and maintaining the flavor and appearance of food products. Besides this, it can reduce non-renewable energy use (NREU) and decrease harmful emissions during the production process. As a result, PEF is widely employed in the construction, food and beverage (F&B), packaging, and agriculture industries across the globe.
Polyethylene Furanoate (PEF) Market Trends:
At present, the rising awareness among individuals about the utilization of bio-based and renewable materials represents one of the key factors supporting the growth of the market. Besides this, the increasing utilization of PEF in the packaging industry to pack alcoholic beverages, milk, soft drinks, fruit juices, tea, and water is propelling the growth of the market. Additionally, there is a rise in the adoption of safe, sustainable, lightweight, and cost-efficient solutions among the masses across the globe. This, coupled with the increasing utilization of PEF to manufacture clothing apparel, diapers, carpets, fabrics, filters, and industrial fibers, is bolstering the growth of the market. Apart from this, governing agencies of various countries are encouraging the adoption of PEF by restricting the consumption of petroleum-based plastic and reducing greenhouse gas (GHG) emissions, which is strengthening the growth of the market. Moreover, the growing adoption of PEF in the food and beverage (F&B) industry to prevent food from oxidation and maintain the quality of a food product is offering a positive market outlook. In addition, the rising health consciousness among consumers about safe drinking water for maintaining good health is contributing to the growth of the market. Furthermore, the increasing adoption of PEF films due to the rising demand for packaged and ready-to-eat (RTE) food products among the masses around the world is strengthening the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global polyethylene furanoate (PEF) market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on application and end user.
The report has provided a detailed breakup and analysis of the polyethylene furanoate (PEF) market based on the application. This includes bottles, films, and fibers. According to the report, bottles represented the largest segment.
End User Insights:
A detailed breakup and analysis of the polyethylene furanoate (PEF) market based on the end user has also been provided in the report. This includes construction, packaging, agriculture, and others.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for polyethylene furanoate (PEF). Some of the factors driving the Asia Pacific polyethylene furanoate (PEF) market included favorable government initiatives, rising investments in bio-based products, presence of numerous key manufacturers in the region, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global polyethylene furanoate (PEF) market. Detailed profiles of all major companies have also been provided. Some of the companies covered include AVA Biochem AG, Avantium N.V., Swicofil AG, Toyobo Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Bottles, Films, Fibers
|End Users Covered
||Construction, Packaging, Agriculture, and Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AVA Biochem AG, Avantium N.V., Swicofil AG, Toyobo Co. Ltd., etc.
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Key Questions Answered in This Report:
- How has the global polyethylene furanoate (PEF) market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global polyethylene furanoate (PEF) market?
- What is the impact of each driver, restraint, and opportunity on the global polyethylene furanoate (PEF) market?
- What are the key regional markets?
- Which countries represent the most attractive polyethylene furanoate (PEF) market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the polyethylene furanoate (PEF) market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the polyethylene furanoate (PEF) market?
- What is the competitive structure of the global polyethylene furanoate (PEF) market?
- Who are the key players/companies in the global polyethylene furanoate (PEF) market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the polyethylene furanoate (PEF) market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global polyethylene furanoate (PEF) market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the polyethylene furanoate (PEF) industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.