The
global polyethylene
furanoate (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.
Browse full research report on Polyethylene Furanoate Market: https://www.grandviewresearch.com/industry-analysis/polyethylene-furanoate-pef-market
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.
Browse more reports of this category
by Grand View Research: 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
- U.S.
- Europe
- Netherlands
- Asia Pacific
- China
- Japan
- Rest of the
World
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.
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