Global Polyethylene Furanoate Market Report and Forecast 2024-2032

Rising Demand for Bottles to Augment the Polyethylene Furanoate Industry Growth

By application, the market is segmented into bottles, fibres, and films. Among these, bottles are witnessing a significant growth in the industry. This can be attributed to the high product demand for packaging applications, such as food and beverage packaging, personal care packaging, and packaging for household care items. The increasing consumer awareness of sustainable packaging, combined with tightening landfill regulations around the world, especially in Europe, is pushing manufacturers to use bio-based and recyclable plastics for packaging. Furthermore, the ban on single-use plastics in several countries, including the United Kingdom, New Zealand, Taiwan, Zimbabwe, and numerous states in the United States, including Hawaii, New York, and California, is pushing up the demand for PEF in the bottles application segment.

Over the forecast period, flexible packaging is expected to be one of the major contributors to the PEF market's growth. It delivers environmentally friendly and safe packaging options to a number of food and non-food sectors. It aims to minimise the volume of packaging material used and causes much less waste than typical flexible packaging. This packaging is made from renewable materials, thus, making it an ideal alternative for a number of eco-friendly companies.

Increasing Demand for Packaging to Bolster the Growth of the Polyethylene Furanoate Industry

Due to the rising need for sustainable production systems, the packaging industry has experienced a major transition over the last decade. The increasing market consciousness and increased environmental issues have culminated in the restructuring of production systems and supply chains all over the world. Various research institutions and institutes are collaborating to develop novel packaging alternatives. As opposed to polyethylene terephthalate (PET), which is produced from nonrenewable materials, polyethylene furanoate (PEF) has the potential to resolve rising questions about resource scarcity. The PEF market is expected to offer a significant number of opportunities to revolutionise the global packaging sector, considering the rapid advances and developments in the packaging industry.

Furthermore, the coronavirus pandemic has had a huge effect on customer shopping habits and expectations when it comes to picking goods and services. Consumers are deeply worried about the products’ environmental effects, recyclability, and decomposition time in landfills. Thus, customers are more likely to prefer bio-based and recyclable plastics over traditional plastics in the forecast period, thus, aiding the polyethylene furanoate industry growth.

Polyethylene Furanoate Market Report Snapshots

Polyethylene Furanoate Market Size

Polyethylene Furanoate Market Growth

Polyethylene Furanoate Market Regional Analysis

Polyethylene Furanoate Companies