Polyethylene Furanoate (PEF) Market worth $28 million by 2028 Globally, at a CAGR of 8.1%, says MarketsandMarkets™

Chicago, Feb. 07, 2024 (GLOBE NEWSWIRE) — The Polyethylene Furanoate (PEF) Market size is projected to reach USD 28 million by 2028, at a CAGR of 8.1% from USD 19 million in 2023, as per the recent study by MarketsandMarkets™. Government regulation & policies coupled with increasing demand for PEF for bottle production and the growing demand from the fiber segment, will contribute to the rapid growth in the demand for PEF. 

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List of Key Players in Polyethylene Furanoate (PEF) Market:

  1. Avantium NV (Netherland)
  2. Sulzer (Switzerland)
  3. AVA Biochem (Switzerland)
  4. ALPLA Group (Austria)
  5. Swicofil (Switzerland)
  6. Origin Materials (US)
  7. Toyobo Co., Ltd. (Japan)
  8. Danone (France)
  9. Mitsui & Co. (Japan)
  10. Eastman (US)

Drivers, Opportunities and Challenges in Polyethylene Furanoate (PEF) Market:

  1. Drivers: Government regulation and policies.
  2. Restraint: Entrenched infrastructure and dominant market presence of conventional plastic
  3. Opportunity: Growing demand for sustainable packaging
  4. Challenge: Higher cost related with production process of PEF.

Key Findings of the Study:

  1. Packaging segment is projected to grow at fastest CAGR, in terms of value, during the forecast period
  2. Bottles segment is projected to grow at fastest CAGR, in terms of value, during the forecast period
  3. Asia Pacific is expected to be the fastest growing market for PEF during the forecast period, in terms of value

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Based on application, the PEF market has been segmented into bottles, films, fibers, molded components and extruded components.  Polyethylene furanoate (PEF) finds diverse applications across several industries due to its exceptional properties. In the packaging sector, PEF is utilized for producing bottles, offering superior barrier performance against gases like oxygen and carbon dioxide compared to conventional plastics like PET. Its higher thermal stability and increased mechanical strength make it suitable for films used in various packaging applications. Additionally, PEF’s versatility extends to the production of fibers, where it enhances the strength and durability of textiles. Molded components benefit from PEF’s capacity to offer intricate shapes and designs, while extruded components harness its excellent processability for diverse applications.

Based on end-use industry, the PEF market has been segmented into packaging, fiber & textile, electronic & electrical components, automotive components and pharmaceuticals.  Polyethylene Furanoate (PEF) demonstrates its versatility across an array of end-use industries due to its remarkable properties. In the packaging industry, PEF is highly favored for its superior barrier properties against gases, making it an excellent choice for various packaging applications. In fiber and textiles, PEF enhances the strength and durability of materials, contributing to the production of high-performance textiles. Electronic and electrical components benefit from PEF’s excellent insulating properties, while its resilience and potential for intricate designs make it a suitable choice for automotive components. Furthermore, in the pharmaceutical sector, PEF’s characteristics offer opportunities for innovative packaging solutions, providing enhanced protection for sensitive pharmaceutical products.

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Asia Pacific is the fastest-growing market for PEF. the region’s rapid industrialization and burgeoning population create an immense demand for sustainable materials. PEF’s eco-friendly and bio-based nature resonates well with the environmentally conscious consumers and regulatory trends prevalent in this region, fostering a significant market preference for sustainable alternatives. Moreover, Asia-Pacific’s proactive initiatives toward reducing carbon footprints and adopting renewable resources align with PEF’s characteristics, driving its acceptance and market growth. Additionally, the escalating demand for packaging, textiles, automotive components, and electronics in this region provides a fertile ground for PEF’s versatile applications.

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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

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