Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Global Polyethylene Furanoate (PEF) Market by Source (Plant-based, Bio-based), Grade, Application (Bottles, Films, Fibers, Molded), End-Use Industry (Packaging, Fiber & Textiles, Electronics & Electrical, Pharmaceuticals), & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The PEF market is projected to reach USD 28 million by 2028, at a CAGR of 8.1% from USD 19 million in 2023. The surge in demand for Polyethylene furanoate (PEF) in bottle production stems from its exceptional properties, notably its remarkable barrier qualities against gases like carbon dioxide and oxygen. This superior performance ensures extended shelf life and heightened preservation of product freshness, catering to the stringent requirements of the food and beverage industry. As consumers increasingly prioritize sustainability in their purchasing decisions, PEF emerges as a frontrunner, meeting eco-conscious preferences while maintaining the necessary functionality for packaging applications. 
Concurrently, the burgeoning interest in PEF within the fiber segment emphasizes its adaptability and versatility. Its enhanced mechanical and thermal characteristics make it an enticing choice for crafting high-performance fibers, revolutionizing textiles and various industrial uses. PEF's eco-friendly profile aligns perfectly with the growing demand for sustainable materials in textiles, driving innovation in durable and environmentally responsible fabrics. This dual upsurge in demand from both bottle manufacturers and the fiber industry underscores a larger industry shift towards embracing sustainable solutions. Businesses capitalizing on PEF not only cater to evolving consumer desires but also demonstrate commitment to environmental responsibility, positioning themselves as industry leaders embracing sustainable practices amidst changing market dynamics.
Fiber & textile segment is expected to account for the second-largest share in 2022
- PEF (Polyethylene Furanoate) holds promise in the Fiber & Textile industry due to its bio-based nature and unique properties.
- PEF offers advantages such as enhanced strength, durability, and superior barrier capabilities, making it attractive for sustainable textile production.
- With increasing consumer demand for eco-friendly products, PEF aligns well with the textile sector's focus on sustainability, driving innovation in environmentally conscious fabrics and fibers.
Based on region, Europe region was the largest market for PEF in 2022, in terms of value
- Europe's stringent environmental regulations and commitment to sustainability, including initiatives like the Circular Economy Action Plan, create a favorable environment for eco-friendly alternatives.
- PEF's bio-based nature and potential biodegradability align with Europe's sustainability objectives, making it an appealing material in line with these goals.
- Strong consumer preference for sustainable products in Europe, coupled with supportive research and development infrastructure and funding mechanisms, enhance the market potential for innovative materials like PEF.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 168 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $19 Million |
| Forecasted Market Value (USD) by 2028 | $28 Million |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Key Topics Covered
- Introduction
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Polyethylene Furanoate Market by Source
- Polyethylene Furanoate Market by Grade
- Polyethylene Furanoate Market by Application
- Polyethylene Furanoate Market by End-use Industry
- Polyethylene Furanoate Market by Region
- Competitive Landscape
- Company Profiles
- Appendix
Companies Mentioned
- Avantium N.V.
- Sulzer
- Ava Biochem
- Origin Materials
- Swicofil
- Alpla Group
- Toyobo Co. Ltd.
- Danone
- Mitsui & Co.
- Eastman
- Coca-Cola
- Carlsberg Group
- Terphane
- Lvmh
- Kvadrat
For more information about this report visit https://www.researchandmarkets.com/r/zc4t8y
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