Overview of Polyethylene Furanoate Market
Polyethylene furanoate (PEF) is a bio-based thermoplastic polymer made from sugar and furan molecules. Its unique properties, such as improved barrier performance, higher oxygen barrier, and greater impact strength, has become more important in recent years, particularly in the food and beverage packaging industry. PEF is rapidly replacing conventional polyester, polyethylene terephthalate (PET), and polylactic acid (PLA), and has created a new platform for the development of bioplastics. The PEF market size is expected to grow significantly, driven by factors such as increasing consumer awareness and concern about environmental protection, government initiatives for the use of sustainable packaging, and cost-effective processing of PEF.
Market Analysis and Forecasts
The global Polyethylene Furanoate Market will be worth USD 120.1 million by 2027, according to a current analysis by Emergen Research. Increasing packaging demand and consumer desire for sustainable packaging solutions are driving the growth of the polyethylene furanoate market. On the other hand, factors such as high production cost and lack of infrastructure is expected to hinder the growth of this market.
Geographically, Europe is expected to be the largest PEF market. This is mainly due to the rising demand for sustainable packaging, especially in the food and beverage packaging sector. The increasing use of bioplastics will also become a key driver for the PEF market in Europe. In addition, the rising environmental awareness, stringent government regulations, and demand from countries such as Germany, France and the United Kingdom (UK), will further bolster the growth of the PEF market in the region.
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Segmental Analysis
On the basis of application, the food and beverage sector is expected to dominate the global PEF market during the forecast period. Packaging demand and environmental awareness are driving growth in this segment. In addition, the surge in trend of convenient packaging, growing demand for green packaging across Europe and North America are further aiding the growth of the PEF market in the food and beverage sector. The market in Asia-Pacific is expected to register high growth during the forecast period, mainly due to growing awareness among consumers regarding sustainable packaging solutions.
On the basis of form, sheet & film segment is expected to dominate the global market. This is mainly due to its better barrier properties in comparison to conventional packaging. Sheet & film forms also offer cost-effectiveness and attractive appearance, which is further aiding its adoption.
Competitive Landscape
The polyethylene furanoate market is highly competitive and involves a large number of players. The market is dominated by companies such as Avantium Technologies B.V., Toyobo Co., Ltd., Sulzer ChemTech., Corbion, Biochem AG, and Swicofil AG. among others. These players are adopting strategies such as product launches, mergers and acquisitions, partnerships, and expansions, to gain competitive advantage over other market players.
For instance, in October 2019, Covestro AG announced that it had developed a new polyurethane type thermoplastic polyurethane elastomer (TPU). This new TPU is based on polyethylene furanoate. This move was aimed at expanding Covestro's product portfolio and as a result, strengthening its position in the PEF market.
Conclusion
The polyethylene furanoate market is expected to show a significant growth during the forecast period of 2020-2027. Increasing demand for sustainable packaging solutions as well as stringent government regulations are driving the growth of the market. Companies are investing in the development of new products to expand their product portfolio in order to gain competitive advantage over other market players. The polyethylene furanoate market also offers significant potential for several small and medium-sized companies to expand their business.
It is better known by different names such as polyethylene furanoate, poly (ethylene furanoate), and poly (ethylene 2,5-furandicarboxylate).
It can be defined as a polymer that is manufactured with the help of polycondensation involving ethylene glycol and 2,5-furandicarboxylic acid (FDCA).
The most striking aspect associated with it is that it has the potential to substitute conventional resources by durable material PET.
It is also likely to emerge as the next generation polyester.Download Sample Report @ https://www.millioninsights.com/industry-reports/polyethylene-furanoate-pef-market/request-sampleThe key reason behind robust market growth of polyethylene furanoate could be growing environmental concerns in order to reduce the greenhouse gas emissions in the surroundings.
There has been a shift in the trend towards utilization of eco-friendly substitutes, which will soon foster the market growth in the near future.
On the other hand, fall in the prices of crude oil and low availability of the raw material may hamper the PEF market growth in the years to come.In addition, the bio-based PRT is a polymer consisting of approximately 30% bio-based MEG and 70% PTA.
Polyethylene Furanoate (PEF) market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Polyethylene Furanoate (PEF) market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2015-2026.Segment by Type, the Polyethylene Furanoate (PEF) market is segmented into:Bio-basedPlant-BasedDownload FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/61152/global-japan-polyethylene-furanoate-2026-544Segment by Application, the Polyethylene Furanoate (PEF) market is segmented into:BottlesFilmsFibersRegional and Country-level Analysis:The Polyethylene Furanoate (PEF) market is analysed and market size information is provided by regions (countries).The key regions covered in the Polyethylene Furanoate (PEF) market report are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It also covers key regions (countries), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.Competitive Landscape and Polyethylene Furanoate (PEF) Market Share Analysis:Polyethylene Furanoate (PEF) market competitive landscape provides details and data information by players.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020.
