Polyethylene Furanoate Market by Application and Geography - Forecast and Analysis 2020-2024

The polyethylene furanoate market size has the potential to grow by 3.58 thousand tons during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (bottles, films, and fibers) and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including ALPLA Werke Alwin Lehner GmbH & Co KG, AVA Biochem AG, Avantium NV, Corbion NV, Danone SA, and Toyobo Co. Ltd.

Market Overview

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Market Competitive Analysis

The market is concentrated. ALPLA Werke Alwin Lehner GmbH & Co KG, AVA Biochem AG, and Avantium NV are some of the major market participants. Although the growing demand for bio-based polymers will offer immense growth opportunities, the increasing demand for bio-based PET will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this polyethylene furanoate market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this polyethylene furanoate market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• ALPLA Werke Alwin Lehner GmbH & Co KG
• AVA Biochem AG
• Avantium NV
• Corbion NV
• Danone SA
• Toyobo Co. Ltd.

Polyethylene Furanoate Market: Segmentation by Application

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PEF bottles help increase the shelf life of food products and beverages compared with PET bottles. Therefore, PEF is expected to replace PET in multiple end-user industries. The increasing popularity of PEF bottles is expected to boost the polyethylene furanoate market share growth by the bottles segment during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the polyethylene furanoate market size.

Polyethylene Furanoate Market: Segmentation by Geography

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APAC was the largest polyethylene furanoate market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as an increase in the number of middle-class consumers in Asia and focus on eco-friendly packaging that are characterized by low carbon footprint levels will significantly drive polyethylene furanoate market growth in this region over the forecast period.

41% of the market's growth will originate from APAC during the forecast period. Japan and China are the key markets for polyethylene furanoate in APAC. Market growth in this region will be slower than the growth of the market in other regions.

Polyethylene Furanoate Market: Key Drivers and Trends

The growing demand for bio-based polymers is identified as one of the key factors contributing to the global polyethylene furanoate market growth. The demand for bio-based polymers is increasing across the globe, and sustainable approaches have further fueled its demand. Petroleum-based polymers are resistant to natural decomposition and cause ecosystem damages. The depletion of oil reserves and rising environmental concerns have contributed to the high demand for bio-based polymers. Bio-based polymers are eco-friendly and find several applications in industries such as packaging, automotive, textile, and transportation. As a result, replacing single-use plastics with bio-based plastics will minimize environmental implications caused by the global packaging industry. The increased utility and customer propensity associated with such polymers have contributed to the enhanced sale of polyethylene furanoate.

Our market analysis highlights that the rise in demand for sustainable packaging is one of the key polyethylene furanoate market trends gaining traction. The packaging industry is a key end-user segment of the global PEF market. Governmental agencies, private organizations, and non-governmental agencies are concentrating on developing sustainable packaging. To diminish the environmental impacts of conventional packaging, various manufacturers are shifting toward sustainable packaging. Fueled by these factors, our PEF market forecast predicts that the polyethylene furanoate market will grow at a CAGR of over 5% during the forecast period.

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Polyethylene Furanoate Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive polyethylene furanoate market growth during the next five years
• Precise estimation of the polyethylene furanoate market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the polyethylene furanoate industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of polyethylene furanoate market vendors

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