Bio-based Polyethylene Furanoate (PEF) Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Bio-Based Polyethylene Furanoate Market is Segmented By Application (Bottles, Films, Fibers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2024-2031

Report Overview

The Global "Bio-Based Polyethylene Furanoate Market" is expected to reach  at a high CAGR during the forecast period (2024-2031).

Bio-Based Polyethylene Furanoate Market Summary

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PEF (polyethylene furanoate) is a polymer made through polycondensation. FDCA is a component of polyethylene furanoate. The ethylene glycol-based aromatic polyester PEF stands for polyethylene terephthalate (PET) and polyethylene naphthalate (PEN) (PEN).

Polyethylene furanoate is a 100% recyclable bio-based polymer derived from plants that have the potential to replace a widely used polymer, namely Polyethylene Terephthalate (PET), which is a long-lasting material derived from conventional resources. It outperforms PET in terms of moisture barrier and mechanical properties. Furthermore, PEF has higher tensile strength, requires fewer additives than polyethylene terephthalate, and can be used in the PET recycling process up to 5% of the time without affecting the performance of recycled PET.

PEF is the next-generation polyester, offering a truly bio-based alternative to PET. It has an excellent barrier and thermal qualities, making it perfect for various applications. PEF is used for packaging alcoholic beverages, fruit juices, milk, soft drinks, fresh tea, and water in the packaging industry.

According to one life-cycle analysis, substituting bio-based FDCA for PTA in the manufacture of PET could significantly reduce greenhouse gas (GHG) emissions and non-renewable energy use (NREU). PEF also has a higher inherent gas barrier for oxygen, carbon dioxide, and water vapor than PET, making it an excellent choice for bottle, film, and food packaging.

Source: DataM Intelligence Analysis (2023)

Bio-Based Polyethylene Furanoate Market Dynamics

The bio-based polyethylene furanoate (PEF) market is expected to develop due to the rising use of polyethylene furanoate in the packaging sector, which is a significant market driver. Fibers, films, and bottles are just a few examples of where they're used.

The market is predicted to rise due to consumers' shifting trend of environment-friendly alternates.

During the forecast period, the polyethylene furanoate (PEF) market is likely to be driven by an increase in the use of bio-plastics and a rise in consumer demand for sustainable products. Furthermore, rising awareness of the environmental impact of plastic and the need to reduce reliance on fossil fuels is likely to generate profitable opportunities by the end of the forecast period.

Because it is a 100 percent bio-based recyclable polymer produced from plants, the growing trend and awareness of 100 percent bio-based bottles, films, and fibers boost the polyethylene furanoate market. Furthermore, technological improvements and an increase in bio-plastics sector innovations with improved characteristics and new functions are projected to drive bio-plastics demand during the forecast period. As a result, the Polyethylene Furanoate (PEF) Market is booming.

Growing demand for bio-based packaging of beverages

Polyethylene furanoate is a 100 percent bio-based recyclable polymer developed from sustainable plant raw ingredients with exceptional barrier performance, a high glass transition, and a lower melting temperature. During the forecast period, rising demand for polyethylene furanoate in beverage packagings, such as water, soft drinks, fruit juices, and alcoholic beverages, is expected to boost the polyethylene furanoate market.

Furthermore, polyethylene furanoate has a strong resistance to oxygen and carbon dioxide, preventing the oxidation of food goods. It is driving up demand for polyethylene furanoate in the food and beverage industry, driving up market growth.

The high cost of production hinders the market growth

PEF is currently more expensive for customers than other available alternatives such as PET because it is still infancy. However, when PEF production progresses to a commercial and industrial stage, PEF producers are projected to lower their pricing, which could help facilitate and speed up the replacement of PET with PEF on a big scale.

Biopolymers' production capacity is currently far lower than that of conventional plastics. It limits their ability to substitute and raises the price of finished goods. The Polyethylene Furanoate (PEF) Market is expected to be hampered mainly by price considerations. PEF's inability to establish itself on the market is primarily due to its time and energy-intensive manufacturing process.

COVID-19 Impact on Bio-Based Polyethylene Furanoate Market Growth

The recent outburst of the highly contagious coronavirus disease is expected to reduce product demand, particularly in film and fiber applications. The outbreak has also caused a slowdown and halts in manufacturing operations, restrictions on supply and transportation, and a slowdown in infrastructure, all of which are expected to impact PEF demand in film and fiber applications. However, the increasing positive cases of COVID-19 in Asia-Pacific and Europe are driving up demand for bio-based plastics in the packaging industry for a variety of applications, including food and beverages, pharmaceuticals, textiles, and other industries.

Bio-based polyethylene Furanoate (PEF) Market Segmentation Analysis

The Bio-based polyethylene Furanoate (PEF) market is segmented into bottles, films, and fibers by application.

The growing need for polyethylene furanoate in beverage packaging makes bottles the dominant segment.

Polyethylene furanoate, also known as polyethylene 2,5-furandicarboxylate, is a polymer made from ethylene glycol and 2,5-furan dicarboxylic acid polycondensation (FDCA). The growing need for polyethylene furanoate in beverage packagings, such as water, soft drinks, fruit juices, and alcoholic beverages, is expected to drive demand for polyethylene furanoate in the bottle market over the next few years.

Furthermore, polyethylene furanoate has a strong resistance to oxygen and carbon dioxide, preventing the oxidation of food goods. It is driving up demand for polyethylene furanoate in the food and beverage industry, driving up market growth. These reasons are expected to provide lucrative prospects for the polyethylene furanoate in bottles segment for packaging applications in the food and beverage industry during the forecast period. Polyethylene Furanoate market is predicted to increase fast throughout the forecast period due to the causes listed above.

Source: DataM Intelligence Analysis (2023)

Global Bio-Based Polyethylene Furanoate Market Geographical Share

Asia-Pacific holds the largest market share of global bio-based polyethylene furanoate (PEF)

The Asia-Pacific is expected to dominate the polyethylene furanoate market during the projected period. Polyethylene furanoate demand has been developing in nations like China, India, and Japan, owing to rising demand from various end-user sectors, including packaging, textiles, and automotive.

Because it is a 100 percent bio-based recyclable polymer generated from plants, the growing trend, and awareness of 100 percent bio-based bottles, films and fibers are expected to boost the polyethylene furanoate market in the area.

Polyethylene furanoate fibers are recycled from polyethylene furanoate-based bottles and manufactured 100% biobased t-shirts. The fibers are utilized in the packaging of industrial products such as fertilizers, insecticides, and cement, in addition to t-shirts. It is also found in carpets, clothing, and athletic gear. The demand for polyethylene furanoate is expected to rise due to these factors.

Furthermore, polyethylene furanoate films have superior gas & odor barrier properties and could be used in place of various plastic resins currently used in packaging applications. It can increase demand for polyethylene furanoate during the forecast period and stimulate the market during the forecast period.

Furthermore, the carbonated soft drink industry is rapidly expanding and is expected to grow at a healthy CAGR in Asia-Pacific during the forecast period. As a result, demand for bottles is expected to rise, boosting the polyethylene furanoate market during the forecast period.

Bio-Based Polyethylene Furanoate Companies and Competitive Landscape

The globally bio-based polyethylene furanoate (PEF) market is highly competitive. To have a competitive advantage in the manufacturing technology and bio-based polyethylene furanoate (PEF) market, companies engaged in PEF manufacturing develop new and innovative processes and technologies and license those technologies to others. Avantium Technologies N.V., for example, has developed YXY technology, which is used to produce FDCA, the main component used in the production of PEF. In collaboration with the European Union, the company launched a project called "PEFerence" to develop the supply chain for FDCA and PEF.

Key players operating in the global market for bio-based polyethylene furanoate (PEF) include Alpla, Swicofil AG, Avantium Technologies N.V., Danone S.A., Toyobo Co. Ltd., Ava Biochem AG, Swire Pacific, Toray Industries, WIFAG-Polytype, and The Coca-Cola Company.

Avantium Technologies N.V.:

Overview: Avantium is a leading company in the emerging renewable and sustainable chemistry industry. Avantium is headquartered in Amsterdam and employs approximately 200 people, with extensive R&D laboratories and three pilot plants in the Dutch cities of Geleen and Delfzijl. PEF, the company's lead product, is a novel, plant-based, recyclable, and degradable plastic material with a powerful combination of environmental and performance characteristics. PEF has enormous potential in the packaging, textile, and film sectors, with over $200 million in growing markets.

Product Portfolio: Avantium’s Renewable Polymers is working to commercialize FDCA (furan dicarboxylic acid). The company’s YXY plants-to-plastics technology catalyzes the conversion of plant-based sugars into FDCA, the chemical building block for PEF (polyethylene furanoate), a novel, first-in-class plant-based polyester. PEF is a 100% plant-based, recyclable, and biodegradable plastic with superior performance compared to commonly used petroleum-based packaging materials.

Key Development: Avantium Technologies N.V., a leading renewable chemistry technology company, announced in 2021 that it has reached a favorable Final Investment Decision (FID) on constructing its FDCA Flagship Plant, which will accelerate the commercialization of PEF (polyethylene furanoate). Avantium's FDCA Flagship Plant, with a capacity of 5 kilotons per year, will be the world's first factory to produce FDCA (furan dicarboxylic acid) commercially. FDCA is a key component of PEF, a 100 percent plant-based, recyclable plastic material with functional advantages over fossil-fuel-derived plastics.

Why Purchase the Report?

• Visualize the composition of the bio-based polyethylene furanoate (PEF) segmentation by application and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in bio-based polyethylene furanoate (PEF) by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of bio-based polyethylene furanoate (PEF) - level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global bio-based polyethylene furanoate (PEF) report would provide access to an approx. 46 market data tables, 32 figures, and 180 pages.

Target Audience 2024

• Bio-based Polyethylene Furanoate Manufacturers and Suppliers
• Bio-based Polyethylene Furanoate Industry Players
• Bio-based Polyethylene Furanoate Buyers
• Emerging Companies
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Distributors