Polyethylene Furanoate (PEF) Market Size, Share, And Growth Report 2032

Polyethylene Furanoate (PEF) Market: Size

As per the report, the global demand for polyethylene furanoate (PEF) market size was valued at approximately USD 19.2 billion in 2023 and is expected to generate revenue of around USD 37.9 billion by 2032, growing at a CAGR of around 7.85% between 2024 and 2032.

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The report covers forecast and analysis for the polyethylene furanoate market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on volume (Kilotons) and revenue (USD Billion).

Polyethylene Furanoate (PEF) Market: Overview

Polyethylene furanoate is a 100% bio-based, recyclable polymer that is manufactured using plant-derived renewable raw material (sugar). Polyethylene furanoate offers numerous benefits such as superior barrier performance, high glass transition temperature, and lower melting point, and polyethylene furanoate is recyclable and hence has reduced carbon footprint. Polyethylene furanoate is used in the manufacture of different products, such as bottles, drink containers, film sheets, and fiber sheets, and for various packaging products. Several institutes and sectors are investigating its further implementation and use. In order to apply PEF, no other investment in tools and machines must be included. It can also be processed at the same installation as PET and recycled through PET streams.

The study includes drivers and restraints for the polyethylene furanoate market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the polyethylene furanoate market on a global as well as regional level.Request Free Sample

The rising application of polyethylene furanoate in the packaging industry coupled with the rapidly growing food & beverage industry is expected to be one of the major factors driving the market growth. Rise in the use of polyethylene furanoate will likely contribute to the future resolution of environmental issues. PEF includes around 70% mono-ethylene glycol and 30% of biologically derived furandicarboxylic acid (FDCA). Due to its relatively high biodegradability, it is now accepted as the best available alternative to use in sustainable packaging over the forecast period, making it more biodegradable and less dangerous to the environment as compared to oil-based PET. Moreover, at present, the polyethylene furanoate is widely used in the textile industry to form bio-based fibers. This is likely to enhance the consumption of polyethylene furanoate. But, the presence of PEF substitutes like bio-based PET is likely to hamper the market growth in the future. However, R&D specialist players are focusing on to produce and commercialize polyethylene furanoate based bottles, this is further estimated to offer new growth opportunities to the market.

Polyethylene Furanoate (PEF) Market: Segmentation

The global polyethylene furanoate market is segmented on the basis of application.

Based on application, the global polyethylene furanoate market is classified into bottles, films, and fibers. In 2023, the fibers segment accounted for the largest market share and bottles segment is projected to grow at the highest CAGR of around 7.3% during the forecast period. Polyethylene furanoate fibers are recycled from polyethylene furanoate bottles, which are later processed into 100% bio-based t-shirts. These materials are used in agricultural packaging, for example in fertilizers, glue, and pesticides. They are used in tapestries, clothing and athletic clothing in relation to agricultural packaging. Moreover, rising demand for bio-based packaging of beverages such as soft drinks, water, fruit juices, and alcoholic beverages is likely to enhance the consumption of polyethylene furanoate in the packaging industry.

Polyethylene Furanoate (PEF) Market?: Report Scope

Polyethylene Furanoate (PEF) Market: Regional Analysis

The Asia Pacific is likely to be a lucrative market in the near future on account of growing packaging industry in China and India in vague of a positive outlook on consumer goods, food & beverage, and pharmaceutical sectors. Moreover, North America is expected to observe significant growth for bio-based chemicals due to the stringent regulations regarding non-recyclable plastic consumption at the domestic level along with rising environmental concerns towards reducing GHG emissions.

Polyethylene Furanoate (PEF) Market: Key Players Analysis

Some of the key players operating in the global polyethylene furanoate market include:

• Mitsui & CO. LTD.
• Toyo Seikan Co. Ltd.
• Avantium
• Danone
• Tereos
• Toyobo Co. Ltd.
• AVA Biochem AG
• ALPLA Werke Alwin Lehner GmbH & Co KG
• Swire Pacific Ltd.
• Synvina
• Corbion NV

Polyethylene Furanoate (PEF) Market Segmented As

By Application

• Bottles
  • Water Bottles
  • Beverage Bottles
  • Others
• Films
  • Trays and Cups
  • Food Packaging
  • Others
• Fibers
  • Apparels
  • Carpets
  • Others

By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa