Polyethylene Furanoate Market Size Worth USD 51.8 Million By 2027 | Growth of the PEF Market is Attributed to the Growing Demand of Fibers Segments of the PEF Market Which is Both Bio-Degradable and Cost-Effective, says Emergen Research
Vancouver, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) — The global Polyethylene Furanoate Market will be worth USD 51.8 billion by 2027, according to a current analysis by Emergen Research. The primary driving factors stimulating the market growth are growing demand of PFE for manufacturing of bottles and growing demand from fibers segment. On the contrary, due to COVID-19 outbreak in 2020, the prevalence of different bioplastics like bio-PE, bio-PP, and bio-PET, among others, have become less. These conditions are putting up challenges for the market growth.Claim Your FREE Sample Copy with Table of [email protected] https://www.emergenresearch.com/request-sample/267The increasing incidence of bio-based polymers across the medical sector is anticipated to provide a wide array of opportunities for the growth of market. Growing demand of PEF based materials across the packaging industry catering especially to beverage packaging of various sorts along with some extent of alcohol packaging is likely to stimulate the growth of the PEF market throughout the forecasted years. Additionally, PEF based materials impart a considerably high quotient of resistance to oxygen and carbon dioxide, which helps in preventing oxidization of food products. This is propelling the demand of PEF based products in food and beverage market, thereby boosting the overall market valuation.Key Highlights From The Report.In September 2019, Bisleri, Coca-Cola, India and Pepsico partnered in order to launch plastic waste management entity. This is done primarily to optimize recycling processes by creating an efficient value chain for collection of plastic waste.The carbonated soft drink industry is growing rapidly and is anticipated to propel at a CAGR of over 4% across the Asia Pacific region throughout the forecasted span. In order to meet the growing emergence, the demand for bottles is expected to grow which will in-turn stimulate the growth of the PFA market in the future.PEF fibers are mostly recycled from bottles made out of PEF material and are utilized in the development and processing of 100% biobased t-shirts. Beside t-shirts, the PEF fibers are also used in packaging of industrial products like fertilizers, pesticides and cement. They are also used for making various parts across the textile industry. Hence, the usage of PEF across a wide range of industries is likely to boost the market growth.Key participants include Toyobo Co. Ltd., Avantium, AVA Biochem AG, Corbion, Swicofil AG, Gevo, Toray Industries and Mitsui & Co. Ltd. among others.Check Our [email protected] https://www.emergenresearch.com/select-license/267
North America accounted for the largest share of the market in 2019 and is likely to do so over the forecasted period as well. The growing incidence of the usage of PEF across the packaging industry coupled with the increasing market valuation of soft drinks market in propelling the growth of the market. However, the Asia-Pacific region is also emerging as a potential market share holder because of rising demand of bio-degradable and cost-effective packaging material.
For the purpose of this report, Emergen Research has segmented into the global Polyethylene Furanoate Market on the application and region:Application Outlook (Revenue, USD Billion; 2017-2027)BottlesFilmsFibersOthersClick to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/polyethylene-furanoate-marketRegional Outlook (Revenue: USD Billion; 2017-2027)North AmericaU.S.CanadaMexicoEuropeUKGermanyFranceBENELUXRest of EuropeAsia PacificChinaJapanSouth KoreaRest of APACLatin AmericaBrazilRest of LATAMMEASaudi ArabiaUAERest of MEATake a Look at our Related Reports:Spherical graphite market size was valued at USD 2,435.8 Million in 2019 and is forecasted to reach USD 9,598.8 Million by 2027 at a CAGR of 18.6%. The spherical graphite market is observing a double-digit growth attributed to its increasing usage in lithium-ion battery production.Sodium dichromate market size was valued at USD 759.2 Million in 2019 and is forecasted to reach USD 1,242.4 Million by 2027 at a CAGR of 6.3%. The sodium dichromate market is observing high demand attributed to its increasing application in pigment, metal finishing, chromium compounds preparation, leather tanning, and wood preservative.Acoustic insulation market size was valued at USD 12.94 Billion in 2019 and is forecasted to reach USD 19.64 Billion by 2027 at a CAGR of 5.3%. The acoustic insulation market is observing high demand attributed to its increasing application in building & construction, automotive, aerospace, and manufacturing.About Emergen ResearchEmergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.Contact Us:Eric LeeCorporate Sales SpecialistEmergen Research | Web: www.emergenresearch.comDirect Line: +1 (604) 757-9756E-mail: [email protected]Facebook | LinkedIn | Twitter | BlogsRead Full Press Release: https://www.emergenresearch.com/press-release/global-polyethylene-furanoate-market