Polyethylene Furanoate (PEF) Market Size Report

Polyethylene Furanoate (PEF) Market Size Analysis Report By Application (Bottles, Films, Fibers), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2016 - 2022

  • Published Date: Feb, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-310-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2017
  • Number of Pages: 58

Industry Outlook

The global polyethylene furanoate (PEF) market demand was estimated at 11,700 tons in 2016. Factors such as increasing demand for sustainable packaging across the globe and advantages of PEF over bio-based PET are expected to be the key trends stimulating market growth. In addition, increasing demand for lightweight polymer products in various end-use industries, especially automotive, is anticipated to fuel demand over the forecast period.

Use of PEF is likely to help in addressing environmental concerns in future. PEF contains 30% biobased monoethylene glycol (MEG) with 70% biologically derived furandicarboxylic acid (FDCA). This makes it more biodegradable and lesser hazardous to the environment in comparison to petro-based PET due to its relatively high biodegradable nature, is poised to be the best available alternative for use in sustainable packaging over the forecast period.

Netherlands polyethylene furanoate market

In terms of volume, the polyethylene furanoate market in Netherlands was estimated at 222.7 tons in 2016 and is anticipated to expand at a CAGR of 8.8% over the forecast period. Several initiatives taken by advanced high-throughput R&D specialist companies to develop and commercialize PEF-based bottles is expected to drive the market in the country over the forecast period.

However, strong presence of substitute for PEF such as bio-based PET is hindering the growth of the market. Biobased PET is a polymer comprising approximately 70% PTA and 30% biobased MEG. Growing efforts by several companies to produce PTA using biobased raw materials in order to manufacture 100% bio-based PET is projected to challenge the growth of the market in future.

Application Insights

Fibers will continue to be the largest segment in the polyethylene furanoate market over the forecast period. PEF fibers are recycled from PEF-based bottles that have been processed into 100% bio-based t-shirts. These fibers are used in the packaging of industrial products such as fertilizers, cement, and pesticides. In addition to industrial packaging, they are employed in carpets, clothing, and sports apparel.

Polyethylene furanoate can be integrated with PET, particularly in recycled PET bottles, which are used for packaging of beverages such as water, soft drinks, fruit juices, and alcoholic beverages. PEF offers high resistance to oxygen and carbon dioxide, thereby preventing food products from getting oxidized. Demand for PEF in various applications, especially recycled plastic bottles, is poised to increase significantly over the forecast period.

Regional Insights

Europe is likely to emerge as the most promising region, progressing at a CAGR of 7.0% in terms of volume during the forecast period. Presence of stringent regulatory standards and increasing demand for sustainable packaging are anticipated to propel the growth of PEF market over the forecast period.

Global polyethylene furanoate market

Asia Pacific held the leading volume share in 2016. The growth of the segment can be attributed to increasing demand for sustainable, bio-degradable, and cost-effective packaging material. Robust growth in the carbonated soft drink market is projected to play a pivotal role in the development of the regional market.

PEF Market Share Insights

The global polyethylene furanoate market is at a nascent stage of development with significant scope for growth. To tap into the immense potential offered by the PEF market, companies can invest in R&D of advanced production technologies and push for their commercialization. For instance, Avantium has entered into a joint venture with several companies such as The Coca-Cola Company, Danone, and ALPLA for the development and commercialization of PEF products for various application segments such as bottles, films, and fibers. YXY, a proprietary technology by Avantium, can convert carbohydrates into various biobased products and fuels. This technology manufactures 100% biobased and 100% recyclable PEF.

The establishment of partnerships with raw material suppliers and buyers can also be a key growth strategy for PEF manufacturers. Moreover, presence of positive regulatory framework can work in favor of manufacturers. However, unavailability of raw materials and suitable technologies is estimated to remain a challenging factor for market players.

Report Scope 

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2016 - 2017

Forecast period

2018 - 2022

Market representation                                                 

Volume in Tons, Revenue in USD Thousand, and CAGR from 2018 to 2022

Regional scope

North America, Europe, Asia Pacific, Rest of the World

Country scope

U.S., Netherlands, China, Japan

Report coverage             

Volume forecasts, revenue forecasts, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on industry trends in each of the sub-segments from 2016 to 2022. For the purpose of this study, Grand View Research has segmented the global polyethylene furanoate (PEF) market report on the basis of application and region:

  • Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2022)

    • Bottles

    • Films

    • Fibers

  • Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2022)

    • North America

      • U.S.

    • Europe

      • Netherlands

    • Asia Pacific

      • Japan

      • China

    • Rest of the World

Key questions answered by the report
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