logo

Polyethylene Furanoate (PEF) Market Size (2024 - 2029)

The Polyethylene Furanoate market is projected to experience significant growth over the forecast period, driven by increasing demand in bottle manufacturing and the fibers segment. Despite challenges such as the presence of competing bioplastics and raw material shortages, the market has shown recovery from pandemic-related disruptions. The medical sector's growing interest in bio-based polymers presents additional growth opportunities. The Asia-Pacific region leads in market consumption, particularly in China and India.

Home Market Analysis Chemicals & Materials Research Plastics, Polymers, and Elastomers Research Plastics and Polymers Research Bioplastics Research Polyethylene Furanoate (PEF) Research Bio-Based Polyethylene Furanoate Market Market Size

Market Size of Polyethylene Furanoate (PEF) Industry

Polyethylene Furanoate (PEF) Market Summary
Study Period 2019 - 2029
Market Volume (2024) 2.40 kilotons
Market Volume (2029) 6.01 kilotons
CAGR (2024 - 2029) 20.11 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Polyethylene Furanoate (PEF) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Polyethylene Furanoate Market Analysis

The Polyethylene Furanoate Market size is estimated at 2.40 kilotons in 2024, and is expected to reach 6.01 kilotons by 2029, growing at a CAGR of 20.11% during the forecast period (2024-2029).

The market was negatively impacted due to COVID-19. Owing to the pandemic, several countries worldwide went into lockdown to curb the spread of the virus. The shutdown of numerous companies and factories disrupted worldwide supply networks and harmed global production, delivery schedules, and product sales. Currently, the market recovered from the COVID-19 pandemic and is increasing significantly.

  • Major factors driving the market studied are the increasing demand for polyethylene furanoate for bottle manufacturing and the rising demand from the fibers segment.
  • On the flip side, the presence of other bioplastics such as bio-PET, bio-PE, bio-PP, etc., and the unavailability of raw materials are the major restraints expected to hinder the market's growth.
  • Growing demand for bio-based polymers in the medical sector is expected to offer various lucrative opportunities for market growth.
  • The Asia-Pacific region dominated the global polyethylene furanoate market, with the largest consumption from countries such as China and India.

Polyethylene Furanoate Industry Segmentation

Polyethylene furanoate, also named Polyethylene furan-2,5-dicarboxylate, is a polymer that offers a higher gas barrier for oxygen, carbon dioxide, and water vapor. It is, therefore, used as an alternative for packaging applications such as bottles, films, and food trays. The polyethylene furanoate market is segmented by application and geography. The market is segmented into bottles, films, and fibers by application type. The report also covers the market size and forecasts for the polyethylene furanoate market in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).

Application
Bottles
Films
Fibers
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Polyethylene Furanoate (PEF) Market Size Summary

The polyethylene furanoate market is poised for significant growth, driven by its increasing application in bottle manufacturing and the fibers segment. This biobased polymer is gaining traction due to its superior properties, such as high strength, puncture toughness, and resistance to oxygen and carbon dioxide, making it ideal for the food and beverage industry. The market is recovering from the disruptions caused by the COVID-19 pandemic, which had negatively impacted global supply chains and production schedules. The Asia-Pacific region, particularly China and India, is expected to dominate the market, fueled by rising demand from various end-user industries like food and beverage, packaging, textile, and automotive. The growing awareness and trend towards sustainable, bio-based products are further propelling the market's expansion.

Despite the promising growth prospects, the market faces challenges from the presence of other bioplastics and raw material availability issues. However, the increasing demand for bio-based polymers in the medical sector presents lucrative opportunities for market players. The market is highly consolidated, with major companies like Avantium, Toyobo Co., Ltd., and Sulzer Ltd. holding significant shares. Strategic partnerships and collaborations, such as Avantium's partnership with Origin Materials, aim to enhance the mass manufacturing of FDCA and PEF, expanding their applications in bottles, packaging, films, fibers, and textiles. These developments, coupled with government support and the growing demand for sustainable packaging solutions, are expected to drive the polyethylene furanoate market's growth during the forecast period.

Explore More

Polyethylene Furanoate (PEF) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand of Polyethylene Furanoate for Bottles Manufacturing

      2. 1.1.2 Rising Demand from Fibers Segment

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Presence of Substitutes

      2. 1.2.2 Limited Raw Material Availability

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Bottles

      2. 2.1.2 Films

      3. 2.1.3 Fibers

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 Italy

        4. 2.2.3.4 France

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle-East and Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Rest of Middle-East and Africa

Polyethylene Furanoate (PEF) Market Size FAQs

The Polyethylene Furanoate (PEF) Market size is expected to reach 2.40 kilotons in 2024 and grow at a CAGR of 20.11% to reach 6.01 kilotons by 2029.

In 2024, the Polyethylene Furanoate (PEF) Market size is expected to reach 2.40 kilotons.

Polyethylene Furanoate Market Report Snapshots

Polyethylene Furanoate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)