Global Polyethylene Furanoate (PEF) Market Research Overview 2020-2025: Industry Growth Analysis by Key Players, Types, Applications, Countries, and Forecast.
The Polyethylene Furanoate (PEF) market is expected to register a CAGR of 6% over the forecast period 2020 – 2025. This report presents market Size, Share, COVID Impact Analysis and Forecast to 2025. It is comprehensive research with in-depth data and contemporary analysis of Polyethylene Furanoate (PEF) Market at a global, regional and key country level, split by different sub-segments of the industry.
Major factors driving the market studied are increasing demand of polyethylene furanoate for bottles manufacturing and rising demand from fibers segment. On the flipside, presence of other bioplastics such as bio-PET, bio-PE, bio-PP, etc. and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
– Growing demand for bio-based polymers in medical sector is expected to offer various lucrative opportunities for the growth of market.
– By application, bottles segment is expected to dominate the market owing to the increase in the usage in packaging and bottling applications in food & beverage industry.
– Asia-Pacific region dominated the polyethylene furanoate market across the globe with the largest consumption from countries such as China and India.
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Key Market Trends
Increasing Demand from Bottles Segment
– Polyethylene furanoate, also named as polyethylene2,5-furandicarboxylate, is a polymer that is produced by polycondensation of ethylene glycol and 2,5-furandicarboxylic acid (FDCA).
– Growing demand of polyethylene furanoate in packaging of beverages such as water, soft drinks, fruit juices and alcoholic beverages is likely to propel the polyethylene furanoate market during the forecast period.
– Additionally, polyethylene furanoate provides high resistance to oxygen and carbon dioxide, thereby preventing food products from being oxidized. This is increasing the demand of polyethylene furanoate in food & beverage industry and consequently boosting its market growth.
– The global food & beverage industry is estimated to reach USD 76,747 million by the end of 2020 and is expected to grow at a CAGR of over 8% during the forecast period and reach USD 105,898 million by 2024. This would create lucrative opportunities for the polyethylene furanoate in bottles segment for packaging applications in food & beverage industry and is anticipated to propel its market in the near future.
– Owing to all the above-mentioned factors for polyethylene furanoate, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market for polyethylene furanoate during the forecast period. In countries like China, India and Japan, owing to the rising demand from various end-user industries including packaging, textile and automotive, the demand for polyethylene furanoate has been increasing in the region.
– The growing trend and awareness of 100% bio-based bottles, films and fibers due to rising environmental concerns is anticipated to propel the polyethylene furanoate market in the region as it is a 100% bio-based recyclable polymer extracted from plants.
– Polyethylene furanoate fibers are recycled from polyethylene furanoate based bottles and are used in processing 100% biobased t-shirts. Apart from t-shirts, these fibers are used in packaging of industrial products like fertilizers, pesticides and cement. They are also used in carpets, clothing and sports apparel. Owing to these factors, the demand of polyethylene furanoate is likely to increase in the region.
– Furthermore, polyethylene furanoate films have superior gas and odor barrier properties and could replace various plastic resins used in packaging applications. This could boost the demand of polyethylene furanoate in the near future and stimulate its market during the forecast period..
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This research report focuses on Polyethylene Furanoate (PEF) market volume and value at regional Opportunity and company Trends From a global perspective, this report Study represents overall Polyethylene Furanoate (PEF) market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: Americas, Europe, Asia-Pacific, Middle East & Africa and ROW.
The polyethylene furanoate market is highly consolidated with top players accounting for a major share of the market. Some of the key companies in the market include Avantium, TOYOBO CO., LTD., Corbion, AVA Biochem AG, and Swicofil AG.
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All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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