The global polyethylene furanoate films market size was valued at USD 197.5 thousand in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.7% from 2020 to 2035. Growing demand for sustainable packaging applications coupled with favorable regulations related to the use of bio-based materials is expected to boost the global market over the forecast period. Government initiatives against the usage of synthetic polymers in several countries, such as the U.K., China, the Netherlands, Japan, and the U.S., and increasing environmental concerns are projected to augment the demand for polyethylene furanoate (PEF) films across the globe. Increasing demand for packaged foods, snacks, and ready-to-eat meals is substantially propelling the demand for PEF film-based pouches and laminations due to their high tensile strength and excellent oxygen barrier capacity.
The product demand in industrial applications is expected to gradually rise over the forecast period owing to increasing research & development activities being carried out in various countries, such as the U.K., China, Japan, and the U.S.
These countries are spending heavily to study the possible applications of the product in roofing, water shielding, wall lining, and window flashing in the construction industry; in protective coverings for LED/OLED displays in the electronics industry; and in silver nanowires for making flexible optoelectronic devices in the electronics industry. In addition, research activities have been undertaken to study the product usage in the solar panels industry owing to their high thermal stability property.
PEF films are an ideal substitute for films and packages made of PET as they are identical to PET but are produced from 100% bio-based materials. PEF films also make use of existing infrastructure for their recycling and, therefore, do not incur additional recycling costs. All these factors make PEF films an attractive choice for the packaging industry and are anticipated to drive the growth of the polyethylene furanoate film market in the coming years.
The packaging application segment led the market and accounted for more than 62.0% share of the global revenue in 2019. This significant share was attributed to the high demand for sustainable bio-based packaging solutions. The demand for 100% bio-based PEF film is expected to increase rapidly, owing to rising consumer preference for sustainable packaging materials that are harmless to the environment. In addition, stringent government regulations against the use of synthetic packaging materials are promoting the usage of PEF-based packaging products for food & beverages and pharmaceutical packaging.
The Biaxially Oriented PEF or BOPEF films offer 10 times more oxygen barrier compared to Biaxially Oriented Polyethylene Terephthalate (BOPET) films. PEF films allow oxygen permeability of approximately 10 cc/m2 that fits well as packaging material for oxygen-sensitive products, such as cheese & dairy, dry snacks, sauces, and cosmetics. In addition, PEF-based pouches offer excellent toughness and clarity and are suitable for dry and liquid products.
PEF films are used in various end-use industries including food, electronics, and pharmaceuticals owing to their excellent barrier properties and low weight. In the construction industry, scientific research is in progress for product usage in applications such as roofing, water shielding, wall lining, and window flashing. In addition, product usage is expected to increase rapidly as protective films for LED and OLED displays over the coming years.
Manufacturers are entering into strategic partnerships with local companies operating in the electronics industry, from countries like China and Japan, where the market for innovative electronic appliances is growing rapidly. For instance, in November 2019, Avantium Technologies B.V. partnered with a Japanese multinational, Mitsui & Co., Ltd., for the market development of PEF films for innovative electronic applications and their distribution in high-end Japanese consumer brands.
The product demand is expected to witness an above-average growth rate over the forecast period, supported by the rising development of bio-based transparent conductive film comprised of silver nanowires for flexible optoelectronic devices. In addition, the product demand is also expected to increase in solar panels applications, owing to its high thermal stability and low melting temperature.
Asia Pacific led the global market in 2019 and accounted for more than 45.0% of the overall revenue share. This significant share was attributed to rising consumer preference for sustainable, bio-based, and recyclable packaging material. The regional market will expand further at a steady CAGR from 2020 to 2035 as the governments across various countries, such as China, Japan, Indonesia, India, Thailand, and Singapore, are offering subsidies to manufacturers and end-users of sustainable packaging materials to help reduce carbon footprint.
The market in China is expected to witness prominent growth over the forecast period owing to rapidly expanding end-use industries, such as food & beverage and pharmaceuticals. In addition, stringent regulations put in place by the Chinese government regarding the usage of green or sustainable packaging are expected to drive the product demand. Europe has been at the forefront of implementing sustainable practices and laws for better environmental conditions.
These laws focus on air pollution and the use of biodegradable or organic materials as a substitute for plastics and polymers. The European Union (EU) has implemented stringent restrictions regarding the same, such as the composition of recycled plastics in all beverage bottles. These government laws and guidelines are anticipated to drive the product demand in the region.
Major companies in North America, such as the Coca-Cola Company and Danone S.A., have entered into long-term strategic collaborations with Avantium Technologies B.V. for setting up commercial plants to synthesize PEF resins in high quantities at low costs. In addition, these companies are working on manufacturing pouches based on PEF film, as a substitute for PET-based pouches, to lower their carbon footprint.
Manufacturers have adopted the practice of maintaining close financial and technological strategic partnerships with each other to introduce 100% bio-based PEF products for packaging applications in their companies. For instance, Toyobo has entered into a joint venture with Avantium to speed up the process of manufacturing PEF resins and their adoption for the food & beverage and pharmaceutical packaging. Similarly, other companies have formed financial partnerships with Avantium to produce PEF at low costs. Some of the major companies operating in the global polyethylene furanoate films market include:
Avantium Technologies B.V.
The Coca-Cola Company
Toyobo Co., Ltd.
Market size value in 2020
USD 198.9 thousand
Revenue forecast in 2035
USD 800.9 thousand
CAGR of 9.7% from 2020 to 2035
Base year for estimation
2020 - 2035
Volume in kilogram, revenue in USD thousand, and CAGR from 2020 to 2035
Volume forecast, revenue forecast, competitive landscape, growth factors, and trends
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Germany; U.K.; The Netherlands; China; Japan
Key companies profiled
Avantium Technologies B.V.; Danone S.A.; The Coca-Cola Company; Toyobo Co., Ltd.; Alpla
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This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2035. For the purpose of this study, Grand View Research has segmented the global polyethylene furanoate films market report on the basis of application and region:
Application Outlook (Volume, Kilogram; Revenue, USD Thousand, 2019 - 2035)
Regional Outlook (Volume, Kilogram; Revenue, USD Thousand, 2019 - 2035)
Central & South America
Middle East & Africa
b. The PEF films market size was estimated at USD 197.5 thousand in 2019 and is expected to reach USD 198.9 thousand in 2020.
b. The PEF films market is expected to grow at a compound annual growth rate of 9.7% from 2020 to 2035 to reach USD 800.9 thousand by 2035.
b. Asia Pacific dominated the PEF films market with a share of 45.65% in 2019. This is attributable to the rising demand for PEF films in sustainable packing products in food & beverages and pharmaceuticals, building & construction industry in the region.
b. Some of the key players operating in the PEF films market include Avantium Technologies B.V., Danone S.A., Toyobo Co., Ltd., and ALPLA.
b. Key factors driving the PEF films market growth include the development of bio-based transparent conductive film comprised of silver nanowires for flexible optoelectronic devices, increasing demand for sustainable packaging solutions, coupled with enhanced properties at par with PET films.
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