Polyethylene Furanoate (PEF) Market Poised for Robust Growth, forecasted to Expand at 7.86% CAGR from 2024-30
MarkNtel Advisors has released its latest report highlighting strong growth in The Global Polyethylene Furanoate (PEF) Market size is estimated to grow at a CAGR of around 7.86% during the forecast period, i.e., 2024-30.
Report Coverage
This report offers a comprehensive analysis of the Polyethylene Furanoate (PEF) Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2023
- Forecast Years: 2024-30
- Historical Years: 2019-22
Polyethylene Furanoate (PEF) Market Overview
The market growth is attributed to the enhanced sustainability of PEFs as compared to traditional plastics like PET (Polyethylene Terephthalate). As PEF is derived from renewable sources such as plant-based feedstocks, it aligns with the growing consumer and regulatory pressure for eco-friendly alternatives to fossil fuel-based plastics. This attribute makes PEF attractive to industries striving to reduce their carbon footprint and meet sustainability targets.
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Polyethylene Furanoate (PEF) Market Segmentation Outlook
The Polyethylene Furanoate (PEF) is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Grade
- Standard Grade- Market Size & Forecast 2019-2030F, (Thousand Tons)
- High-Performance Grade- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Blended/Customized Grade - Market Size & Forecast 2019-2030F, (Thousand Tons)
- Others- Market Size & Forecast 2019-2030F, (Thousand Tons)
By Application
- Bottles- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Fibers- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Films- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Others (Construction Materials, Automotive Parts, etc.)- Market Size & Forecast 2019-2030F, (Thousand Tons)
By End User
- Packaging- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Fibre & Textile- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Consumer Electronics- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Automotive - Market Size & Forecast 2019-2030F, (Thousand Tons)
- Pharmaceuticals- Market Size & Forecast 2019-2030F, (Thousand Tons)
- Others (Cosmetics & Personal care, Agriculture, etc.) - Market Size & Forecast 2019-2030F, (Thousand Tons)
By Country
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Polyethylene Furanoate (PEF) Market Driver
Growing Government Inclination Towards Sustainability in the Packaging Industry – Governments worldwide are increasingly inclined towards sustainability in the packaging industry due to rising environmental concerns such as plastic pollution, greenhouse gas emissions, and resource depletion. Thus, recognizing the urgency of transitioning to eco-friendly alternatives to traditional plastics and addressing these environmental challenges and commitments like the Paris Agreement, the traction towards sustainable polymers is on the rise. As PEF offers 100% recyclability benefits and a reduction in CO2 emissions, its use across end-user industries, specifically the packaging industry, is rising substantially.
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Top Polyethylene Furanoate (PEF) Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies Avantium N.V., Toyobco Co., Ltd., AVA Biochem, Swicofil AG, Stora Enso, Origin Materials, and Others as key players shaping the market landscape.
Polyethylene Furanoate (PEF) Market News
- In 2023: Avantium N.V. announced a partnership with Origin Materials to accelerate the mass production of furandicarboxylic acid (FDCA) and plant-based, fully recyclable plastic, polyethylene furanoate (PEF).
- In 2023: Stora Enso signed a Joint Development Agreement with Kolon Industries to develop and industrialize bio-based polyesters, including PEF and their applications, as well as renewable binder resin formulations.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2030?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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