Global Polyethylene Furanoate Market: Focus on Application (Bottle, Film, and Fiber), Market Share Analysis, and Capacity Development - Analysis and Forecast, 2018-2025
NEW YORK, Jan. 9, 2019 /PRNewswire/ -- Global Polyethylene Furanoate Market Anticipated to Reach $129.3 Million by 2025, Reports BIS Research
Read the full report: https://www.reportlinker.com/p05480426
Over the last decade, the packaging industry has witnessed a massive transformation, owing to the increasing demand for sustainable manufacturing systems.Rising consumer awareness and high environmental concerns have resulted in the transformation of the manufacturing process of the products and their supply chain across the world.
Various research companies and institutes are working for the production innovative alternatives to packaging systems.Polyethylene furanoate (PEF), being 100% bio-based, has the ability to address the rising concerns regarding resource depletion as compared to that of polyethylene terephthalate (PET) that uses conventional nonrenewable resources for its production.
With the rapid advancements and innovations in the packaging industry, the PEF market is expected to present an extensive amount of opportunities to revolutionize the global packaging industry.
The market research study offers a wide perspective of PEF and its different applications.The report also provides an analysis of the market penetration of these applications and their growth opportunities across different regions and countries.
The study focuses on the changing landscape of the PEF market, owing to the capacity developments of leading players.The study helps in keeping close tabs on the PEF market as PEF production moves from pilot scale to a commercial scale in the coming years.
The research is based on extensive primary interviews (in-house experts, industry leaders, and market players), and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
This work was designed to answer some of the most crucial questions about the polyethylene furanoate market:
• What is the global polyethylene furanoate market size in terms of value and volume from 2017-2025 along with the year-on-year growth rates and the CAGR from 2019 to 2025?
• What are the major applications for PEF globally in terms of volume consumption and revenue generation?
• Which are the major regions and countries that provide growth opportunities for the PEF market?
• What is the revenue generation and volume consumption of PEF for various applications across different countries?
• What is the competitive strength of the key players in the PEF market by analyzing their recent developments, product offerings, and regional presence?
The report is a compilation of various segmentations including market breakdown by application and region.The report highlights the key driving and restraining forces for this market as well as the market opportunities in different applications across the leading countries in the PEF market.
In the extensive primary research process undertaken for this study, the primary sources further include industry experts and key executives from prominent companies and organizations across the PEF value chain.
The trends of the PEF market vary with different geographical regions.The PEF market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW).
The report also provides a country-based analysis for all the leading countries in every region, including the U.S, Germany, France, the Netherlands, Switzerland, the U.K, China, Japan, and Brazil. Each geographical region analysis details the individual push and pull forces in addition to the key players and applications in that particular region.
The prominent players operating in the polyethylene furanoate market are Avantium, Corbion nv, Danone, MITSUI & CO., LTD., Swire Pacific Ltd., Tereos, and Toyobo Co., Ltd., ALPLA Werke Alwin Lehner GmbH & Co KG, AVA Biochem AG, Synvina, and Toyo Seikan Co.,Ltd., among others.
Executive Summary
The global packaging and bottle industry is changing rapidly toward making a bio-economy.The emerging market structure and consumer awareness call for the adoption of innovations that are environment-friendly.
Issues such as climate change, depleting sources of fossil fuel-based feedstock, and increasing carbon footprint in the production process have been the major driving and restraining factors behind the wide acceptance of the bio-based products by the consumers.Companies have been investing heavily in the research and development of packaging alternatives.
Owing to the changing lifestyle and rising health and pollution concern, the demand for innovative products with minimum environmental hazards and health hazards is gaining traction.
The most widely used chemical for the production of bottles and different packaging options has been polyethylene terephthalate (PET), and it occupies the majority of the share of the global packaging and bottle market.It became the most preferred choice among the masses owing to its properties such as hygiene, shatterproof, and lightweight, and high strength.
Despite having the aforementioned qualities, the packaging of any product must also have minimal impact on the environment. The rising concern for environmental issues is posing a threat to the existing market for PET.
Polyethylene fuaranoate (PEF) is proposed to be used as an alternative to the existing polymers that make use of non-renewable resources in their production.The key feature that distinguishes PEF from PET is that it is bio-based and is derived from plants, whereas the formation of PET takes place from the conventional resources.
Other than this, when compared with PET, PEF has better mechanical properties such as lower melting point, higher glass transition point, and better tensile strength, among others.It is also light weighted and can be recycled.
It finds its application in the production of various products, such as bottles, beverage containers, sheets of films, and as fibers, in the packaging of various products.Its further application and usage is researched by several institutes and industries.
The application of PEF does not require inclusion of any other investment in terms of instruments and machines. It could be processed in the same facilities as PET and can be recycled in the PET streams as well.
However, PEF is in its exploratory stage and owing to its distinguishing features it has the potential to replace PET and be a dominant player in the chemical industry.It is viewed as an attractive area for investment among various manufacturers and distributors across different markets.
The current PEF production has been utilized by the leading companies for testing and process optimization.Being in its nascent stage, PEF is currently more expensive for the consumers when compared with other existing alternatives such as PET.
But as the PEF production reaches a commercial and an industrial stage, PEF producers are expected to have the leverage of reducing their prices which in turn might also facilitate and accelerate PET replacement by PEF at a large scale.
Overall, the packaging and bottle industry is anticipated to have significant growth in the upcoming years due to rapid innovations.PEF might be a key player contributing to the success of bio-based environment friendly products.
However, it being in its pilot phase, not much can be estimated about its worldwide acceptance and performance in terms of durability and feasibility of adoption.
The PEF market was valued $167.9 thousand in 2017 and is expected to reach $129.3 million by 2025. The market in terms of value is expected to grow at 31.0% from 2019 to 2025 after its commercialization. Whereas, in 2017, the market in terms of volume was 40.0 tons, which is expected to reach 81.9 kilotons by 2025. The market in terms of volume is expected to grow at 50.7% from 2019 to 2025 after its commercialization. The backing of leading packaging companies for the development of the PEF market and the development of PEF production at a commercial scale are expected to help the market to grow.
The bottle application of PEF is expected to replace PET in large volumes in the packaging industry. The development of PEF bottles has been supported by leading consumers, such as Danone, Nestle S.A., Swire Pacific Ltd., Toyo Seikan Co., Ltd., and The Coca Cola Company, further driving the growth of PEF bottles. Moreover, initiatives taken by leading chemical companies such as MITSUI CO., LTD. and Avantium to promote PEF beverage bottles on a large scale at major events such as the Tokyo Olympics in 2020 is expected to further drive the growth of this application.
The trends of the PEF market vary with different geographical regions.The PEF market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World.
Europe currently dominates the market in terms of value because of the expensive nature of PEF in the region, whereas the Asia-Pacific region dominates the market in terms of volumes as the region is host to major PEF polymerization companies and PEF product manufacturing companies.China is expected to show the fastest growth after the commercialization of PEF in 2019.
The country is home to leading PET resin consumers and is expected to be a key country for growth once PEF gets commercialized.
Competitive Landscape
The latest strategies and developments adopted by the key market players in the PEF market in order to lead the market defines the competitive landscape of the market. The companies, in order to improve their market positioning, work in partnerships, improve their product offerings, and expand their business activities.
In June 2017, the consortium named PEFerence consisting of 11 members aimed at establishing an innovative supply chain for FDCA and PEF received a subsidy of EUR 25 million from Bio-based Industries (BBI).This will further help in the development of PEF prospects.
Also, in May 2017, The European PET Bottle Platform (EPBP) gave interim approval to Synvina for the PEF's recyclability. PEF bottles therefore could be disposed in the same way as PET bottle are disposed.
Research and development (R&D) is a key factor that influences the growth of the market.Companies work in collaboration with institutes to develop better technologies for the production of PEF.
The growth in the PEF market is largely dependent on the price competitiveness of PEF with PET after commercialization. The improved properties and the bio-based nature of PEF ensure good growth if it can become economically viable for the consumers in the long run.
Countries Covered
• Asia-Pacific
• China
• Japan
• Rest-of-Asia-Pacific
• Europe
• Germany
• France
• The U.K.
• The Netherlands
• Switzerland
• Rest-of-Europe
• North America
• The U.S.
• Rest-of-North America
• Rest-of-the-World (RoW)
• Brazil
Read the full report: https://www.reportlinker.com/p05480426
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article