Dublin, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The "Polyethylene Furanoate (PEF) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The global Polyethylene Furanoate (PEF) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.5% by 2031. PEF is a bio-based polymer derived from plants that is 100% recyclable. It has the potential to replace conventional petroleum-based polymers like polyethylene terephthalate (PET) and is considered the next-generation polyester. PEF offers better barrier and mechanical properties compared to PET.
Market Drivers:
- Environmental Concerns: The growing environmental concerns related to reducing greenhouse gas emissions are driving the demand for eco-friendly and sustainable materials like PEF.
- Government Regulations: Stringent government regulations aimed at reducing the consumption of non-recyclable plastics are stimulating the market growth for PEF.
- Shift to Eco-Friendly Substitutes: There is a shifting trend towards the usage of eco-friendly substitutes for conventional plastics, further boosting the demand for PEF.
Market Challenges:
- Decrease in Crude Oil Prices: The decrease in crude oil prices can hinder the growth of the PEF market, as it may affect the competitiveness of bio-based materials.
- Raw Material Availability: The availability of raw materials for PEF production can pose a challenge to market growth.
Regional Outlook:
- Europe: Supportive government policies in Europe are contributing to market growth in the region.
- Asia Pacific: The Asia Pacific region is expected to be the fastest-growing market due to the expanding packaging sector in countries like Malaysia, India, Singapore, Australia, and China.
- North America: North America is also projected to grow significantly, driven by stringent government regulations and increasing environmental concerns.
Market Segmentation:
The global PEF market is segmented based on application into:
- Bottles
- Packaging Product
- Fibres and fibrous webs
- Films
- Others
Key Players in the PEF Market:
- Novamont
- Avantium Technologies B.V.
- Danone S.A.
- Toyobo Co., Ltd.
- Canon, Inc.
- Alpla
- Evian
- The Coca-Cola Company
Key Questions Answered in the Report:
- What are the key factors impacting the growth of the PEF market?
- Where are the key investment opportunities in terms of product segments and geographies?
- What is the estimated forecast and market projections up to 2031?
- Which segment is expected to witness the fastest CAGR during the forecast period?
- Which market segment holds the largest market share and why?
- Are low and middle-income economies investing in the PEF market?
- Which region is the largest market for PEF?
- What are the market trends and dynamics in emerging markets like Asia Pacific, Latin America, and the Middle East & Africa?
- What are the key trends driving the growth of the PEF market?
- Who are the key competitors, and what strategies are they employing to enhance their market presence in the global PEF market?
For more information about this report visit https://www.researchandmarkets.com/r/146bvd
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
