Global Polyethylene Furanoate (PEF) Market Size Study & Forecast, by Source (Plant based, Bio-based), by Grade (Standard grade, High performance grade, Bio-based grade, Food grade, Others), by Application (Bottles, Films, Fibers, Molded, Blended/ Customiz

Global Polyethylene Furanoate (PEF) Market Size Study & Forecast, by Source (Plant based, Bio-based), by Grade (Standard grade, High performance grade, Bio-based grade, Food grade, Others), by Application (Bottles, Films, Fibers, Molded, Blended/ Customized grade, Others), by End-use Industry (Packaging, Fiber & textile, Electronic & electrical components, Others), and Regional Analysis, 2023-2030

Global Polyethylene Furanoate (PEF) Market is valued at approximately USD XX million in 2022 and is anticipated to grow with a healthy growth rate of more than XX% during the forecast period 2023-2030. Polyethylene furanoate (PEF) is an innovative bio-based polyester that has gained high traction across various industries. PEF emerges as a promising alternative to conventional petroleum-derived plastics such as PET because of its unique properties, such as high barrier performance, increased strength, and sourcing from renewable plant-based materials. PEF's superior barrier characteristics contribute to extended shelf life for packaged goods, particularly in the packaging sector. Furthermore, its potential for biodegradability aligns with the global emphasis on sustainable materials, addressing consumer preferences for eco-friendly solutions. The soaring demand from fibers segment, increasing consumer awareness and preferences for environmentally friendly products, along with the imposition of stringent government regulation and policies including bans or restrictions on single-use plastics and incentivizing the adoption of alternatives such as PEF are the most prominent factors that are propelling the market demand across the globe.

In addition, rising inclination towards the utilization of polyethylene furanoate for bottle manufacturing as it offers high strength, good heat resistance, and puncture toughness. Polyethylene furanoate (PEF) exhibits heightened resistance to both oxygen and carbon dioxide, effectively preventing the oxidation of food products. This characteristic has led to an increased demand for PEF in the food and beverage industry, thereby fostering its market growth. The food and beverage sector, a prominent player in European manufacturing, is a significant consumer of bottles. According to data from FoodDrinkEurope, the industry's turnover witnessed a 2.3% increase in Q4 2022 compared to the preceding quarter, and a substantial 19.2% year-on-year growth compared to Q4 2021. Also, the European Union indicated an upsurge in food and drink exports, reaching a value of EUR 48.3 billion (approximately USD 50.9 billion) in Q4 2022, reflecting a robust growth rate of 17.5% compared to the same period in 2021. This surge in exports significantly contributed to the demand for bottles within the industry. Moreover, as highlighted by the Department for Environment, Food, and Rural Affairs, the United Kingdom boasts 1.61 thousand beverage-manufacturing SMEs along with 30 large beverage businesses. With the expanding landscape of these companies, there is a rise in the demand for bottles made from sustainable materials, thereby impacting the Polyethylene Furanoate Market. Consequently, the escalating demand for bottles in the packaging of various beverages, ranging from water and soft drinks to fruit juices and alcoholic beverages, is poised to drive the Polyethylene Furanoate Market over the forecast period. Moreover, the surge in demand for bio-based polymers in the medical sector, as well as the rising emphasis on the introduction of sustainable packaging presents various lucrative opportunities over the forecast years. However, the presence of substitutes and the limited raw material availability are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Polyethylene Furanoate (PEF) Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific dominated the market in 2022 owing to the soaring demand for polyethylene furanoate (PEF) In countries such as China, India, and Japan, which is driven by various industries such as food and beverage, packaging, textile, and automotive. This surge is fueled by the growing trend of environmentally conscious choices, with PEF being a 100% bio-based recyclable polymer derived from plants. Also, environmental concerns and increased awareness of bio-based alternatives for bottles, films, and fibers are key factors propelling the PEF Market in the region. In China, the National Bureau of Statistics reported a production of 59.12 million metric tons of non-alcoholic beverages in the first four months of 2023, with a 3% increase in April compared to the previous year. This uptrend is expected to boost the demand for PEF bottles in the forecast period. Whereas, North America is expected to grow with a substantial CAGR over the forecast years. The growing demand for sustainable packaging, rising environmental concerns regarding minimizing greenhouse gas emissions, and increasing advancements in technology and manufacturing processes are significantly propelling the market demand across the region.

Major market players included in this report are:
Avantium NV
Sulzer Ltd.
AVA Biochem AG
ALPLA Group
Swicofil AG
Origin Materials
Toyobo Co., Ltd.
Danone SA
Mitsui & Co. Ltd.
Eastman Chemical Company

Recent Developments in the Market:
 In November 2023, Avantium and Pangaia, a purpose-driven materials science and clothing firm, announced a partnership, in which PANGAIA agreed to use Avantium's recyclable and environmentally beneficial PEF (polyethylene furanoate) material for their garment line, to create sustainable materials and fossil fuel-free goods.
 In February 2023, Avantium initiated a collaboration with Origin Materials, a prominent US-based sustainable materials company. The collaboration aims towards expediting the large-scale production of FDCA and PEF, essential components for advanced chemicals and plastics. The primary objective is to synergize the technological capabilities of both entities, focusing on the industrial-scale production of FDCA derived from sustainable wood residues.
 In August 2022, Sulzer entered a Memorandum of Understanding (MOU) with BASF SE, aiming to propel advancements in technologies for renewable fuels and chemically recycled plastics. This agreement is poised to broaden the scope of sustainable solutions in the partners' portfolio.

Global Polyethylene Furanoate (PEF) Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Source, Grade, Application, End-use Industry, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Source:
Plant based
Bio-based

By Grade:
Standard grade
High performance grade
Bio-based grade
Food grade
Blended/ Customized grade.
Others

By Application:
Bottles
Films
Fibers
Molded
Blended/ Customized grade.
Others

By End-use Industry:
Packaging
Fiber & textile
Electronic & electrical components
Automotive components
Pharmaceuticals
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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