Polyethylene
Furanoate (PEF) Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
Polyethylene
Furanoate (PEF) Market is expected to deal
with 16,640 tons by 2022. It is better known by different names such as
polyethylene furanoate, poly (ethylene furanoate), and poly (ethylene
2,5-furandicarboxylate). It can be defined as a polymer that is manufactured
with the help of polycondensation involving ethylene glycol and
2,5-furandicarboxylic acid (FDCA). Polyethylene Furanoate market is expected to
grow at a CAGR of 6.0% in the upcoming period as the scope, product types and
its applications are increasing across the globe.
Polyethylene furanoate
(PEF) is generally obtained from plants. It 100% recyclable and included in the
category of bio – based polymer. The most striking aspect associated with it is
that it has the potential to substitute conventional resources by durable
material PET. It is known to possess exceptional barrier as well as mechanical
properties as compared to polyethylene terephthalate. It is also likely to
emerge as the next generation polyester.
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The key reason behind
robust market growth of polyethylene furanoate could be growing environmental
concerns in order to reduce the greenhouse gas emissions in the surroundings.
Also, implementation of strict government regulations toward usage of
non-recyclable plastics is estimated to contribute to the market growth. There
has been a shift in the trend towards utilization of eco-friendly substitutes,
which will soon foster the market growth in the near future. On the other hand,
fall in the prices of crude oil and low availability of the raw material may
hamper the PEF market growth in the years to come.
In addition, the bio-based
PRT is a polymer consisting of approximately 30% bio-based MEG and 70% PTA.
Rising efforts by numerous corporations to produce PTA using bio based raw
resources in order to produce 100% bio-based PET is expected to challenge the
development of the marketplace in the years to come.
Polyethylene Furanoate
Market may be explored by applications, and geography. Polyethylene Furanoate
(PEF) may be explored by applications as Bottles, Fibers and fibrous webs,
Films, Packaging Product, Others. Fibers sector is estimated to grow at the
highest CAGR and will keep on being the highest sector in the Polyethylene
furanote over the forecast period. The PEF components are recycled from
PEF-based flasks that have been arranged into 100% bio-based T-shirts. These
fibers are mainly used as a part of the packing manufacturing products, for
example, fertilizers, and cement, pesticides, nevertheless power-driven bundling,
they are used in carpets, clothing, and sports apparel.
Europe has been at the
forefront with regards to Polyethylene Furanoate (PEF) Market and will continue
to rule the roost in the years to come. Europe is anticipated to develop at a
7.0% CAGR in terms of volume during the forecast period. The strict government
regulations standards and growing demand for maintainable packing is estimated
to drive the development of PEF market over the forecast period.
Europe is followed by
Asia-Pacific region. The development of the sector can be ascribed to growing
demand for bio-degradable, sustainable, and profitable packaging material.
Healthy development in the carbonated soft drink marketplace is expected to
play an essential part in the growth of the regional marketplace.
Some of the key players
that fuel the growth of the Polyethylene Furanoate (PEF) Industry include
Toyobo Co., Ltd., SULZER ChemTech, and Avantium Technologies B.V. The key
players are focusing on inorganic growth to sustain themselves amidst fierce
competition. As such, mergers, acquisitions, and joint ventures are the need of
the hour.
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