Polyethylene Furanoate Market
PUBLISHED: 2023 ID: SMRC22994
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Polyethylene Furanoate Market

Polyethylene Furanoate Market Forecasts to 2028 - Global Analysis By Application (Bottles, Fibers, Films and Other Applications) and By Geography

4.8 (28 reviews)
4.8 (28 reviews)
Published: 2023 ID: SMRC22994

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $31.4 MN

Projected Year Value (2028)

US $51.2 MN

CAGR (2022 - 2028)

8.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Polyethylene Furanoate Market is accounted for $31.4 million in 2022 and is expected to reach $51.2 million by 2028 growing at a CAGR of 8.4% during the forecast period. A frequently used polymer, polyethylene terephthalate (PET), is a long-lasting material made from conventional resources. Polyethylene furanoate is a 100% recyclable bio-based polymer that has been developed from plants. In terms of mechanical and moisture barrier qualities, it excels. Additionally, it can cut down on the usage of non-renewable energy and hazardous pollutants during production. PEF is therefore commonly used in the agriculture, food & beverage, packaging, and construction sectors.

According to European bioplastics nova institute, about one-fifth of the world's manufacturing ability for bioplastics is situated in Europe. It is anticipated that this share will rise to 27 percent by 2023.



Market Dynamics:

Driver:

Increasing adoption of advanced techniques

The population's advancement and adoption of cutting-edge technologies has fueled market growth in terms of both value and volume. Numerous new opportunities for growth are anticipated as a result of the growing usage of bio-based polymers in the medical sector. The packaging sector is predicted to see an increase in demand for PEF-based materials, especially for beverage packaging of all kinds and, to a lesser extent, for alcohol packaging.

Restraint:

Presence of substitutes

The population's advancement and adoption of cutting-edge technologies has fueled market growth in terms of both value and volume. Numerous new opportunities for growth are anticipated as a result of the growing usage of bio-based polymers in the medical sector. The packaging sector is predicted to see an increase in demand for PEF-based materials, especially for beverage packaging of all kinds and, to a lesser extent, for alcohol packaging.

Opportunity:

High demand of bio based bio based polyethylene furanoate

Because of the rising environmental issues brought on by the use of polyamide made from fossil fuels, bio-based polyethylene furanoate is the bio-based variety of polyethylene furanoate that is gaining popularity. These polyamides are now used in more applications because they have stronger resistance, lower moisture absorption rates, and higher impact strengths than their conventional counterparts. The market is anticipated to increase as a result of these factors.

Threat:

Fluctuating prices

The expansion of bio based polyethylene furanoate is now being severely hampered by the volatility in the prices of raw materials. The market's expansion could be hampered by falling crude oil prices and a lack of readily available raw materials. Additionally, uneven availability of the raw materials at one specific location is demeaning the market's growths, which are the major market restraint for the market.

Covid-19 Impact

The global COVID-19 epidemic has had a moderately negative impact on packaging sector market growth. While the demand for luxury, industrial, and some B2B transport packaging has decreased as a result of the suspension of industrial production and the ensuing lockdown imposed by various governments around the world, the demand for packaging for healthcare products, retail products, and e-commerce transportation has increased significantly. Additionally, these fibres are used to package a variety of industrial goods, including insecticides, fertilisers, and cement. The bottles have also been used to make carpets, sportswear, and other kinds of clothes.

The bottles segment is expected to be the largest during the forecast period

The polyethylene furanoate market anticipates significant growth, with the bottles segment leading in market share. PEF's superior characteristics, such as enhanced barrier properties, lightweight nature, and sustainability, make it an attractive choice for beverage packaging. As industries increasingly prioritize eco-friendly alternatives to conventional plastics, PEF emerges as a frontrunner, driving its adoption in bottles. Additionally, the growing awareness and demand for sustainable packaging solutions contribute to PEF's dominance, positioning it as the preferred material in the market.

The plastic films segment is expected to have the highest CAGR during the forecast period

The plastic films segment is anticipated to witness the highest CAGR growth during the forecast period, due to it offers high degrees of resistance to carbon dioxide and oxygen, which helps in preventing food products from getting oxidized. Due to their odour and gas barrier qualities, this film has the potential to replace many kinds of plastic resins used in diverse packaging applications. Over the anticipated period, there is anticipated to be a significant increase in demand for recycled plastic bottles, particularly in some atypical application areas.

Region with Largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the shift in the production landscape of biodegradable plastics toward emerging economies. As a bio-based recyclable polymer derived from plants, the market in the region is expected to rise in popularity due to the trend and increased awareness of bio-based bottles, films, and fibres brought on by growing environmental concerns. The region's demand is being driven by end-use industries like the medical and food and beverage sectors.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the presence of strong environmental regulations aimed at solid waste generation. The demand for sustainable packaging for diverse uses across numerous industries is expected to increase, which will lead to a surge in demand for polyethylene furanoate over other conventional items. The market is expanding as a result of ongoing R&D in bio-based and renewable plastics as well as rising sales of polyethylene furanoate films.



Key players in the market

Some of the key players profiled in the Polyethylene Furanoate Market include Toyobo Co., Ltd., Avantium N.V., Corbion, The Coca-Cola Company, Toray Industries Inc., Gevo, Inc., Mitsui & Co., Ltd., WIFAG-Polytype Holding AG, Swicofil AG, AVA Biochem AG, Danone SA and ALPLA-Werke Alwin Lehner GmbH & Co KG.

Key Developments:

In January 2022, Cold Stone Creamery® Teams Up with Danone North America to Launch Its First-Ever Plant-Based Dessert. With flexitarian lifestyles on the rise, and consumers looking to add more plant-based options to their diets, Cold Stone Creamery stores have added Silk Chocolate Almondmilk Frozen Dessert, which is dairy-free, vegan and non-GMO, to its permanent menu.

In May 2020, Avantium, a Dutch biochemical company fundraised a project that is expected to turn crops that are grown sustainably to plant- based plastic. The project caught a wide spectrum of attention from a handful of major players like Danone, Carlsberg and Coca-Cola.

Applications Covered:
• Bottles
• Fibers
• Films
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Polyethylene Furanoate Market, By Application
5.1 Introduction
5.2 Bottles
5.3 Fibers
5.4 Films
5.5 Other Applications

6 Global Polyethylene Furanoate Market, By Geography
6.1 Introduction
6.2 North America
6.2.1 US
6.2.2 Canada
6.2.3 Mexico
6.3 Europe
6.3.1 Germany
6.3.2 UK
6.3.3 Italy
6.3.4 France
6.3.5 Spain
6.3.6 Rest of Europe
6.4 Asia Pacific
6.4.1 Japan
6.4.2 China
6.4.3 India
6.4.4 Australia
6.4.5 New Zealand
6.4.6 South Korea
6.4.7 Rest of Asia Pacific
6.5 South America
6.5.1 Argentina
6.5.2 Brazil
6.5.3 Chile
6.5.4 Rest of South America
6.6 Middle East & Africa
6.6.1 Saudi Arabia
6.6.2 UAE
6.6.3 Qatar
6.6.4 South Africa
6.6.5 Rest of Middle East & Africa

7 Key Developments
7.1 Agreements, Partnerships, Collaborations and Joint Ventures
7.2 Acquisitions & Mergers
7.3 New Product Launch
7.4 Expansions
7.5 Other Key Strategies

8 Company Profiling
8.1 Toyobo Co., Ltd.
8.2 Avantium N.V.
8.3 Corbion
8.4 The Coca-Cola Company
8.5 Toray Industries Inc.
8.6 Gevo, Inc.
8.7 Mitsui & Co., Ltd.
8.8 WIFAG-Polytype Holding AG
8.9 Swicofil AG
8.10 AVA Biochem AG
8.11 Danone SA
8.12 ALPLA-Werke Alwin Lehner GmbH & Co KG

List of Tables
1 Global Polyethylene Furanoate Market Outlook, By Region (2020-2028) ($MN)
2 Global Polyethylene Furanoate Market Outlook, By Type (2020-2028) ($MN)
3 Global Polyethylene Furanoate Market Outlook, By Application (2020-2028) ($MN)
4 Global Polyethylene Furanoate Market Outlook, By Bottles (2020-2028) ($MN)
5 Global Polyethylene Furanoate Market Outlook, By Fibers (2020-2028) ($MN)
6 Global Polyethylene Furanoate Market Outlook, By Films (2020-2028) ($MN)
7 Global Polyethylene Furanoate Market Outlook, By Other Applications (2020-2028) ($MN)
8 North America Polyethylene Furanoate Market Outlook, By Country (2020-2028) ($MN)
9 North America Polyethylene Furanoate Market Outlook, By Application (2020-2028) ($MN)
10 North America Polyethylene Furanoate Market Outlook, By Bottles (2020-2028) ($MN)
11 North America Polyethylene Furanoate Market Outlook, By Fibers (2020-2028) ($MN)
12 North America Polyethylene Furanoate Market Outlook, By Films (2020-2028) ($MN)
13 North America Polyethylene Furanoate Market Outlook, By Other Applications (2020-2028) ($MN)
14 Europe Polyethylene Furanoate Market Outlook, By Country (2020-2028) ($MN)
15 Europe Polyethylene Furanoate Market Outlook, By Application (2020-2028) ($MN)
16 Europe Polyethylene Furanoate Market Outlook, By Bottles (2020-2028) ($MN)
17 Europe Polyethylene Furanoate Market Outlook, By Fibers (2020-2028) ($MN)
18 Europe Polyethylene Furanoate Market Outlook, By Films (2020-2028) ($MN)
19 Europe Polyethylene Furanoate Market Outlook, By Other Applications (2020-2028) ($MN)
20 Asia Pacific Polyethylene Furanoate Market Outlook, By Country (2020-2028) ($MN)
21 Asia Pacific Polyethylene Furanoate Market Outlook, By Application (2020-2028) ($MN)
22 Asia Pacific Polyethylene Furanoate Market Outlook, By Bottles (2020-2028) ($MN)
23 Asia Pacific Polyethylene Furanoate Market Outlook, By Fibers (2020-2028) ($MN)
24 Asia Pacific Polyethylene Furanoate Market Outlook, By Films (2020-2028) ($MN)
25 Asia Pacific Polyethylene Furanoate Market Outlook, By Other Applications (2020-2028) ($MN)
26 South America Polyethylene Furanoate Market Outlook, By Country (2020-2028) ($MN)
27 South America Polyethylene Furanoate Market Outlook, By Application (2020-2028) ($MN)
28 South America Polyethylene Furanoate Market Outlook, By Bottles (2020-2028) ($MN)
29 South America Polyethylene Furanoate Market Outlook, By Fibers (2020-2028) ($MN)
30 South America Polyethylene Furanoate Market Outlook, By Films (2020-2028) ($MN)
31 South America Polyethylene Furanoate Market Outlook, By Other Applications (2020-2028) ($MN)
32 Middle East & Africa Polyethylene Furanoate Market Outlook, By Country (2020-2028) ($MN)
33 Middle East & Africa Polyethylene Furanoate Market Outlook, By Application (2020-2028) ($MN)
34 Middle East & Africa Polyethylene Furanoate Market Outlook, By Bottles (2020-2028) ($MN)
35 Middle East & Africa Polyethylene Furanoate Market Outlook, By Fibers (2020-2028) ($MN)
36 Middle East & Africa Polyethylene Furanoate Market Outlook, By Films (2020-2028) ($MN)
37 Middle East & Africa Polyethylene Furanoate Market Outlook, By Other Applications (2020-2028) ($MN)
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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