The Polyethylene Furanoate (PEF) Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The market for Polyethylene Furanoate (PEF) is expected to grow at a CAGR of over 6% during the forecast period. Major factors driving the market studied are increasing demand of polyethylene furanoate for bottles manufacturing and rising demand from fibers segment. On the flipside, presence of other bioplastics such as bio-PET, bio-PE, bio-PP, etc. and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Polyethylene Furanoate (PEF) Market: Avantium, TOYOBO CO., LTD., Corbion, AVA Biochem AG, and Swicofil AG.
Key Market Trends
– Growing demand for bio-based polymers in medical sector is expected to offer various lucrative opportunities for the growth of market.
– By application, bottles segment is expected to dominate the market owing to the increase in the usage in packaging and bottling applications in food & beverage industry.
– Asia-Pacific region dominated the polyethylene furanoate market across the globe with the largest consumption from countries such as China and India.
Increasing Demand from Bottles Segment
– Polyethylene furanoate, also named as polyethylene2,5-furandicarboxylate, is a polymer that is produced by polycondensation of ethylene glycol and 2,5-furandicarboxylic acid (FDCA).
– Growing demand of polyethylene furanoate in packaging of beverages such as water, soft drinks, fruit juices and alcoholic beverages is likely to propel the polyethylene furanoate market during the forecast period.
– Additionally, polyethylene furanoate provides high resistance to oxygen and carbon dioxide, thereby preventing food products from being oxidized. This is increasing the demand of polyethylene furanoate in food & beverage industry and consequently boosting its market growth.
– The global food & beverage industry is estimated to reach USD 76,747 million by the end of 2020 and is expected to grow at a CAGR of over 8% during the forecast period and reach USD 105,898 million by 2024. This would create lucrative opportunities for the polyethylene furanoate in bottles segment for packaging applications in food & beverage industry and is anticipated to propel its market in the near future.
– Owing to all the above-mentioned factors for polyethylene furanoate, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market for polyethylene furanoate during the forecast period. In countries like China, India and Japan, owing to the rising demand from various end-user industries including packaging, textile and automotive, the demand for polyethylene furanoate has been increasing in the region.
– The growing trend and awareness of 100% bio-based bottles, films and fibers due to rising environmental concerns is anticipated to propel the polyethylene furanoate market in the region as it is a 100% bio-based recyclable polymer extracted from plants.
– Polyethylene furanoate fibers are recycled from polyethylene furanoate based bottles and are used in processing 100% biobased t-shirts. Apart from t-shirts, these fibers are used in packaging of industrial products like fertilizers, pesticides and cement. They are also used in carpets, clothing and sports apparel. Owing to these factors, the demand of polyethylene furanoate is likely to increase in the region.
– Furthermore, polyethylene furanoate films have superior gas and odor barrier properties and could replace various plastic resins used in packaging applications. This could boost the demand of polyethylene furanoate in the near future and stimulate its market during the forecast period.
– Additionally, the carbonated soft drink industry is rising rapidly and is expected to grow at a CAGR of over 3% in Asia-Pacific during the forecast period. Due to this, the demand for bottles is likely to increase and would boost the polyethylene furanoate market during the forecast period.
– Some of the major companies operating in Asia-Pacific region are TOYOBO CO., LTD. and Corbion.
– The aforementioned factors, coupled with government support, are contributing to the increasing demand for polyethylene furanoate during the forecast period.
Influence Of The Polyethylene Furanoate (PEF) Market Report:
-Comprehensive assessment of all opportunities and risk in the Polyethylene Furanoate (PEF) market.
– Polyethylene Furanoate (PEF) market recent innovations and major events.
-A detailed study of business strategies for growth of the Polyethylene Furanoate (PEF) market-leading players.
-Conclusive study about the growth plot of Polyethylene Furanoate (PEF) market for forthcoming years.
-In-depth understanding of Polyethylene Furanoate (PEF) market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Polyethylene Furanoate (PEF) market.
The report has 150 tables and figures browse the report description and TOC:
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The Polyethylene Furanoate (PEF) Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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