Polyethylene Furanoate Market (By Communication Infrastructure: Bottles, Films, Fibers) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

The global polyethylene furanoate market is anticipated to grow at a CAGR of around 6.8% during the forecast period 2020 to 2027 and to reach around US$ 45.7 Mn by 2027.

Market Dynamics

Increasing demand for recyclable plastic from various end use industries due to rising stringent government regulation and rising environment concern and high investment by major players for R&D activities are major factors expected to drive the growth of global market. Growing demand from medical and pharmaceutical manufactures for enhanced packaging solutions that has light weight and enhanced chemical and thermal stability. This is expected to increase demand for polyethylene furanoate which is expected to impact the growth of target market.

Food & beverage sector across the globe is gaining importance, rising demand for ready to eat food products and awareness among consumers related to side-effects of plastic food packaging is resulting in adoption of improved packaging solution that increases the product shelf life, keep it safe during transportation and produces lower waste this is expected to increase demand for PEF further supporting the growth of target market.

Government is imposing various regulations on the use of plastic. They in collaboration with private players are focused in R&D activities in order to safeguard the environment and deliver enhanced packaging solution this factor is responsible to boost the growth of target market.

Major players are focused on increase the profit through enhancing the customer base and product portfolio this is expected to augment the growth of target market.

In 2019, Avantium is a chemical technology company acquired 100% ownership of Synvina. This acquisition is expected to help the company to enhance the product portfolio and increase the revenue.

Favorable business policies by the government and emergence of small and mid-size enterprises with innovative solutions this is expected to boost the growth of target market. In addition, increasing e-commerce and transportation activities in the countries such as China, India, and Japan packaging of goods is gaining importance. Demand for superior quality packaging solution that has high tensile strength and is light weight is increasing. This factor is expected to boost the growth of target market to a certain extent.

However, factors such as stringent government regulation related to product approval and availability of different alternatives are expected to hamper the growth of global market. In addition, as the PEF is in nascent stage lack of awareness and limited availability of advanced infrastructure in developing countries is expected to challenge the growth of target market.

High investment by the government and major players and introduction of novel solutions are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements between regional and international players is expected to support the revenue growth of target market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share in the global market due to rapid change in government regulation related to use of plastic. The government of countries is changing its approach towards use of plastic due to its negative impact on environment. They are imposing strict regulation on use of plastic. Containers and packaging make up a major portion of municipal solid waste (MSW), amounting to 80.1 million tons of generation and the recycling rate of generated packaging and containers was 50.1%.

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

 
Polyethylene Furanoate Market Segment Analysis, 2019

The global market is segmented into application and region. The application segment of the global market is segmented into bottles, films, and fibers. The bottle segment is expected to account for major revenue share in the target market due to increase demand to bottled packed beverages across the globe. In addition, stringent government regulations related to plastic bottles and innovative recyclable product offerings is expected to support the growth of target segment.

The players profiled in the report are Tereos, TOYOBO CO., LTD., Ava Biochem BSL AG, Alpla, Swire Pacific, Corbion, Toray Industries, Gevo, Mitsui & Co., Toyo Seikan, Avantium, Danone, WIFAG-Polytype and The Coca-Cola Company.

Market Segmentation

Market By Communication Infrastructure

Bottles

Films

Fibers

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa