Polyethylene Furanoate Market to be Valued USD 120.1 Million by 2027: Avantium Technologies B.V., Toyobo Co., Ltd., Sulzer ChemTech

Escalating need for sustainable packaging combined with added advantages of PEF and its augmenting demand from various end-use verticals is propelling the growth of the market.

The Global Polyethylene Furanoate Market is anticipated to gain a valuation of USD 120.1 Million by 2027, at a growth rate of 17.8%, throughout the predicted timeframe, as per the latest analysis by Emergen Research. The significant factors contributing to the rise of the industry is the augmenting application of bio-based polymers in several end-user industries, such as automotive and packaging, among others. Additionally, the consumer-friendly and environmentally sustainable attributes of Polyethylene Furanoate (PEF) are increasing their preference over bio-based PET polymers. This is, in turn, estimated to stimulate the progress of the industry over the forthcoming years.

Key companies of the global market landscape include Avantium Technologies B.V., Toyobo Co., Ltd., Sulzer ChemTech., Swicofil AG, Corbion, and Biochem AG, among others.

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PEF is a bio-based polymer made from plant extracts and is completely recyclable. Several significant companies of the business sphere are emphasizing on the development of comprehensive bio-based fibers, bottles, and films, adding traction to the requirement of PEF. Its extensive use as an alternative to bio-based PET due to its characteristic features of better barrier and superior chemical and mechanical properties. Owing to its remarkable tensile strength, PEF requires lesser additives than PET, which further adds to the market growth.

Industry Growth:

The Polyethylene Furanoate helps product owners learn how certain trends will shape the growth of the Polyethylene Furanoate industry over a long term. The study closely looks at the historical price pattern of various products and services and empowers entrepreneurs to form the right opinion about the future trends. Accordingly, business owners will be able to decide their course of action and make a wise decision.

Key Highlights from the Report:

The bottle segment is anticipated to garner substantial traction during the projected years and is forecasted to report a CAGR of 18.1%. The growth can be accredited to the massive shift of packaged drinking services towards PEF owing to its environmentally sustainable features and surging consciousness among the consumers about the product.

The films produced from PEF materials have a pleasing odor and enhanced gas barrier attributes. These films have the capability to be a replacement for various plastic resins in packaging applications. This feature is presumed to stimulate the need for PEF materials over the next years, thereby propelling the industry growth.

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The North American market commanded the global market in revenue contribution and is estimated to retain its top place during the projected timeframe. This can be attributed to the soaring intake and the need for soft drinks across the region. The European market is also forecast to gain traction during the time owing to the emergence of stringent environmental regulations and escalating need for sustainable products.

Avantium, a Netherlands-based chemical and renewable polymers company, in 2019 commercialized the company’s YXY brand technology, which is patented, of furanics. The company is aiming to manufacture technologically progressed green fuels to augment the use of PEF across significant geographies.

For this study, Emergen Research has segregated the Global Polyethylene Furanoate Market based on application and region:

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America
S.
Canada
Mexico
Europe
K.
Germany
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
Rest of MEA

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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

This release was published on openPR.