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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
The Asia Pacific to Provide Enhanced Growth Opportunities to the Polyethylene Furanoate Industry
Region-wise, in 2019, the Asia Pacific dominated the market, accounting for more than 45.0% of the global sales. Over the forecast era, the shift towards the biodegradable plastics production environment in emerging economies, especially China and India, is expected to positively influence the market growth. However, the COVID-19 pandemic is expected to have a negative effect on the growth of the PEF market in the Asia Pacific, as there is currently minimal cross-border trade among the economies. The various end-use industries, such as medical and food and beverage are driving PEF demand in the region, thanks to increasing demand for packaged and processed foods and the growing trend of e-commerce shopping in the region.
Europe is the second-largest user of polyethylene furanoate, owing to a variety of reasons, including increasing consumer anxiety about the environment, tight environmental regulations, and expanded R&D investments in bio-based and fully recyclable plastics by private and public organisations. Furthermore, government policies such as the EU's decision to reduce total use of single-use plastic goods in the region by 90% by the end of 2021 are projected to improve PEF demand over the forecast period.
Polyethylene Furanoate Market Report Snapshots
Polyethylene Furanoate Market Size
Polyethylene Furanoate Market Growth
Polyethylene Furanoate Market Regional Analysis
Polyethylene Furanoate Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global polyethylene furanoate market attained a value of nearly USD 34.57 million.
The market is projected to grow at a CAGR of 6.4% between 2024 and 2032.
The major drivers of the market are the growing demand for polyethylene furanoate in the packaging sector, the robust growth of the e-commerce sector, and increasing R&D investments in bio-based and fully recyclable plastics by private and public organisations.
The growing environmental consciousness, the increasing development of novel packaging alternatives, and the rising use of polyethylene furanoate as an alternative to polyethylene terephthalate are the key market trends.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The significant applications of polyethylene furanoate are bottles, films, and fibres.
The major players in the market are Avantium N.V., Corbion NV, and AVA Biochem AG, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124