The global polyethylenefuranoate (PEF) market demand
is projected to reach 16,640.0 tons by 2022, according to a new report by Grand
View Research, Inc., progressing at a CAGR of 6.0% during the forecast period.
Increasing demand for bio-based polymer products from various end-use
industries such as packaging and automotive has been a key factor driving
market globally. In addition, favorable properties of PEF over bio-based PET is
anticipated to fuel demand over the same period.
Polyethylene
furanoate is a 100% recyclable biobased polymer extracted from plants. It is
gaining popularity as several companies are engaged in the manufacturing of
100% biobased bottles, films, and fibers. The product is likely to witness high
growth as it can be widely used as a potential substitute for biobased PET on
account of its superior mechanical, thermal, and barrier properties. Moreover,
it has better tensile strength, requires lesser additives than PET, and can be
recycled and incorporated into PET recycle streams at up to 5% of PEF without
affecting the performance of recycled PET.
The
carbonated soft drink industry is growing at a rapid pace and with that, demand
for bottles has been on the rise. PET is largely preferred for the production
of bottles across the globe. However, due to rising environmental concerns, the
bottled packaging industry is slowly shifting toward biobased plastic bottles.
As a result, there will be surging adoption of PEF in bottled packaging
applications over the forecast period.
Full research report on polyethylene furanoate (PEF) market analysis:
Further key findings from the report suggest:
·
The global polyethylene furanoate market
was valued at USD 21.06 million in 2016 and is expected post a CAGR of 8.8%
from 2018 to 2022
·
Fibers emerged as the largest application
segment in 2016 and is estimated to account for just over 44.0% of the overall
market revenue by 2022
·
The bottle segment registered the highest
CAGR of 7.3% in terms of volume during the forecast period
·
Asia Pacific held a dominant share of 48.3%
of the overall market volume in 2016. The growth of the segment can be
attributed to rising demand from various end-use industries, especially
packaging, textile, and automotive
·
The PEF market is still at a nascent stage
with the presence of a few market players such as Avantium Technologies B.V.,
Toyobo Co., Ltd., and SULZER ChemTech.
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the
global polyethylene furanoate (PEF) market on the basis of application and
region:
Polyethylene
Furanoate Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 -
2022)
·
Bottles
·
Films
·
Fibers
Polyethylene
Furanoate Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2022)
·
North America
o
U.S.
·
Europe
o
Netherlands
·
Asia Pacific
o
China
o
Japan
·
Rest of the World
Access
press release by Grand View Research: https://www.grandviewresearch.com/press-release/global-polyethylene-furanoate-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
