SAN FRANCISCO, February 14, 2018 /PRNewswire/ --
The global polyethylene furanoate (PEF) market demand is projected to reach 16,640.0 tons by 2022, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.0% during the forecast period. Increasing demand for bio-based polymer products from various end-use industries such as packaging and automotive has been a key factor driving market globally. In addition, favorable properties of PEF over bio-based PET is anticipated to fuel demand over the same period.
Polyethylene furanoate is a 100% recyclable biobased polymer extracted from plants. It is gaining popularity as several companies are engaged in the manufacturing of 100% biobased bottles, films, and fibers. The product is likely to witness high growth as it can be widely used as a potential substitute for biobased PET on account of its superior mechanical, thermal, and barrier properties. Moreover, it has better tensile strength, requires lesser additives than PET, and can be recycled and incorporated into PET recycle streams at up to 5% of PEF without affecting the performance of recycled PET.
The carbonated soft drink industry is growing at a rapid pace and with that, demand for bottles has been on the rise. PET is largely preferred for the production of bottles across the globe. However, due to rising environmental concerns, the bottled packaging industry is slowly shifting toward biobased plastic bottles. As a result, there will be surging adoption of PEF in bottled packaging applications over the forecast period.
Browse full research report with TOC on "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" at: https://www.grandviewresearch.com/industry-analysis/polyethylene-furanoate-pef-market
Further Key Findings From the Report Suggest:
- The global polyethylene furanoate market was valued at USD 21.06 million in 2016 and is expected post a CAGR of 8.8% from 2018 to 2022
- Fibers emerged as the largest application segment in 2016 and is estimated to account for just over 44.0% of the overall market revenue by 2022
- The bottle segment registered the highest CAGR of 7.3% in terms of volume during the forecast period
- Asia Pacific held a dominant share of 48.3% of the overall market volume in 2016. The growth of the segment can be attributed to rising demand from various end-use industries, especially packaging, textile, and automotive
- The PEF market is still at a nascent stage with the presence of a few market players such as Avantium Technologies B.V., Toyobo Co., Ltd., and SULZER ChemTech.
Browse related reports by Grand View Research:
- Polypropylene (PP) Absorbent Hygiene Market - The global polypropylene (PP) absorbent hygiene market was valued over USD 9.00 billion in 2014. Polypropylene is one of the major polymers used in the absorbent hygiene industry.
- Ethylene Butyl Acrylate Market - The global ethylene butyl acrylate market is expected to grow at a CAGR of above 4% over the forecast period. The surge in growth can be attributed to increasing applications such as in surface coatings, sealants, adhesives and co-monomers across end-use industries such as packaging, textile, leather and plastics.
- Structural Adhesives Market - Global structural adhesives market size was 5,052.9 kilo tons in 2013. High demand from furniture, transportation and construction are expected to drive the global industry growth over the forecast period.
- Super Absorbent Polymers Market - The global super absorbent polymers market was valued at USD 2.07 billion in 2014. The market finds its largest application in the baby diapers industry. The significant growth rate of this segment is projected to boost the demand of the overall market.
Grand View Research has segmented the global polyethylene furanoate (PEF) market on the basis of application and region:
- Polyethylene Furanoate Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2022)
- Polyethylene Furanoate Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2022)
- North America
- Asia Pacific
- Rest of the World
Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/bulk-chemicals
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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