Polyethylene Furanoate (PEF) Market

Polyethylene Furanoate (PEF) Market Outlook (2024 to 2034)

The global polyethylene furanoate (PEF) market has been valued at US$ 39.7 million in 2024, as revealed in the recently updated market study by Fact.MR. Revenue from the sales of PEF is approximated to climb at a CAGR of 8.3% and reach US$ 88.2 million by the end of 2034.

Increasing awareness related to toxic issues of petrochemicals and the depletion of crude oil reserves is contributing to the development of bio-based polymers, including polyethylene furanoate. Imposition of stringent regulations restricting the use of petro-based plastics in some areas, including medical devices, food packaging, etc., is contributing to the increasing production of polyethylene furanoate.

PEF provides superior properties compared to PET (polyethylene terephthalate), including higher glass transition temperature, moisture barrier, low melting point, lightweight, excellent thermal stability, and higher tensile strength. Polyethylene furanoate has the potential to replace PET in terms of manufacturing costs and properties if produced at large.

Growing use of polyethylene furanoate in producing flexible and rigid packaging solutions for industries, including pharmaceuticals, food & beverages, consumer goods, etc., is driving its demand. In addition, it is also used in producing carpets, fabrics, clothing apparel, diapers, and industrial fibers. Furthermore, more consumers are becoming aware of the recyclability, environmental impacts, and decomposition time of products used by them. Thereby, increased demand for polyethylene furanoate is attributed to its use as a recyclable and bio-based solution.

• Worldwide demand for polyethylene furanoate for application in fibers is projected to accelerate at a CAGR of 8.5% and reach a market worth of US$ 34.9 million by the end of 2034.
• North America is evaluated to capture 13.5% of the global polyethylene furanoate market share by 2034-end.
• Sales of PEF in Japan are analyzed to climb at a CAGR of 7.5% from 2024 to 2034.

Report Attribute	Detail
Polyethylene Furanoate (PEF) Market Size (2024E)	US$ 39.7 Million
Forecasted Market Value (2034F)	US$ 88.2 Million
Global Market Growth Rate (2024 to 2034)	8.3% CAGR
South Korea Market Growth Rate (2024 to 2034)	10.2% CAGR
East Asia Market Share (2034F)	28.1%
Market Share of Plant-based Polyethylene Furanoate (2034F)	42.4%
Key Companies Profiled	Avantium N.V.; Toray Industries Inc.; AVA Biochem AG; Gevo, Inc.; WIFAG-Polytype Holding AG; Corbion; Mitsui & Co., Ltd.; Swicofil AG; TOYOBO CO., LTD.; Alpha.

What is Leading to Rapidly Expanding Polyethylene Furanoate Market Size?

“Surging Demand for Sustainable Packaging Solutions in e-Commerce”

In recent years, carbon boards, paperboard, and polyethylene furanoate have been becoming more popular. They are used as an effective replacement for conventional packaging materials helping in cost saving. Its environment-friendly approach contributes to increased popularity among respective end users. In addition, rising interest in green packaging solutions in multiple industries, including food & beverages, etc., has led to the development of organic or natural ingredient-based products.

PEF goods offer numerous advantages for distributors in e-Commerce facilities. Improved heat stability, long-term cost-efficiency, fewer additives, and strong tensile strength of polyethylene furanoate make it more popular among end users. PEF-based products are contributing to the development of flexible, recyclable, and safe packaging solutions. Further, 3D printing assists in the optimization of package shapes and volumes, thereby making PEF a popular choice among respective end users.

Growing preference for flexible packaging is contributing to the rising demand for polyethylene furanoate as a sustainable and environment-friendly packaging solution in the non-food and food sectors. It assists in reducing waste generation compared to conventional packaging solutions.

What is Hindering Demand Growth for Polyethylene Furanoate?

“Limited Availability of Raw Materials and Presence of Alternative Options”

The scarcity of raw materials required for the production of polyethylene furanoate is adversely impacting market growth. In addition, the easy availability of alternative options to polyethylene furanoate, particularly bio-based PET, etc., is causing adverse impacts on expanding market size. Its high prices compared to alternative options limit its sales.

What is Helping New Companies Gain a Competitive Edge?

“Constant Efforts toward Producing 100% Bio-based PEF”

Various aspiring market players are constantly putting efforts into the production of polyethylene furanoate with the use of bio-based raw materials. They are trying to offer 100% bio-based and sustainable PEF to increase sales.

Country-wise Insights

East Asia is forecasted to hold 28.1% share of global market revenue by the end of 2034, as asserted in the recently updated analysis by Fact.MR, a market research and competitive intelligence provider. Growing adoption of environment-friendly packaging solutions along with rising preference for biodegradable plastics are positively influencing polyethylene furanoate market trends in the region.

Which Factors are Increasing Importance of PEF in the United States?

“High Preference for Recyclable Plastics”

Attribute	United States
Market Value (2024E)	US$ 2.9 Million
Growth Rate (2024 to 2034)	8.6% CAGR
Projected Value (2034F)	US$ 6.6 Million

The United States is approximated to possess a share of 55.6% of the market in North America by 2034-end. The surging consumption of polyethylene furanoate in the country is attributed to the growing requirements for completely recyclable and bio-based plastics in respective end-use industries, including agriculture, consumer goods, packaging, etc.

Ban on single-use plastics is also contributing to the PEF market growth. In addition, rising preference for next-generation polyesters, expansion of the carbonated soft drink sector, and increasing requirements for ecological and biodegradable packaging materials are also creating remunerative opportunities for manufacturers of polyethylene furanoate.

Why is Demand for Polyethylene Furanoate Surging in China?

“Cost-efficiency and Biodegradable Nature of PEF”

Attribute	China
Market Value (2024E)	US$ 6.3 Million
Growth Rate (2024 to 2034)	8.5% CAGR
Projected Value (2034F)	US$ 14.2 Million

China is analyzed to capture 57.3% share of the East Asian market by the end of 2034. Increasing demand for cost-effective and biodegradable packaging materials in the country is generating remunerative opportunities for suppliers of polyethylene furanoate. Expansion of e-Commerce platforms and surging requirements for processed and packaged food products are also driving PEF demand for packaging.

What is Mainly Responsible for Polyethylene Furanoate Market Growth in Japan?

“Rising Expenditure on Renewable and Bio-based Plastics”

Attribute	Japan
Market Value (2024E)	US$ 3.5 Million
Growth Rate (2024 to 2034)	7.5% CAGR
Projected Value (2034F)	US$ 7.1 Million

Japan is evaluated to possess a share of 28.8% of the market in East Asia by 2034. Various efforts are taken in the country for the adoption of renewable and bio-based plastics. In addition, growing polyethylene furanoate sales are attributed to increasing demand for sustainable packaging solutions across multiple industries, including food & beverages, pharmaceuticals, etc.

Category-wise Insights

This recently updated Fact.MR report asserts that there is an increase in the demand for plant-based polyethylene furanoate compared to bio-based one. Its growing popularity is attributed to high performance and 100% recyclability. Its ability to replace polyethylene terephthalate is also making it a preferred choice among several end users.

Which Type of PEF is Gaining More Prominence?

“Surging Popularity of Plant-based Polyethylene Furanoate Due to its 100% Recyclability”

Attribute	Plant-based
Segment Value (2024E)	US$ 16.5 Million
Growth Rate (2024 to 2034)	8.5% CAGR
Projected Value (2034F)	US$ 37.4 Million

Plant-based polyethylene furanoate is calculated to account for 42.4% share of the global market by 2034. This polyethylene furanoate is derived from plants and is 100% recyclable with the potential of replacing PET (polyethylene terephthalate), derived from conventional sources. The high-performance quality of plant-based polyethylene furanoate is contributing to its increased adoption.

Which Application of Polyethylene Furanoate Accounts for a Higher Revenue Share?

“Unique Characteristics of PEF Contributing to Increased Use in Developing Fibers”

Attribute	Fibers
Segment Value (2024E)	US$ 15.5 Million
Growth Rate (2024 to 2034)	8.5% CAGR
Projected Value (2034F)	US$ 34.9 Million

Fibers are projected to possess a share of 39.5% of the global market by the end of 2034. Fibers manufactured from polyethylene furanoate are superior in characteristics which is why they possess the ability to replace PET fibers. Polyethylene furanoate-based fibers are 100% recyclable, and, as such, there has been an increase in their consumption in manufacturing bio-based T-shirts.

In addition to these apparel, polyethylene furanoate-based fibers are also utilized in wrapping various types of industrial products, including pesticides, cement, fertilizers, and many more. Moreover, they also find applications in apparel, athletic equipment, and rugs.

Competitive Landscape

Presence of various key players in the polyethylene furanoate market at local and global levels makes the landscape highly competitive. They are constantly involved in enhancing service offerings, collaboration, expanding commercial activities, and various other initiatives to enjoy market placement. New product development, management of supply chain systems, and offering quality products are some other initiatives helping market players get a competitive edge.

For instance :

• Avantium, a Dutch biochemical company, in 2020, raised funds for its campaign for converting sustainably cultivated crops into plastic based on plants. Many companies, including Coca-Cola, Carlberg, Danone, etc., took interest in this initiative. This initiative is helping the company increase its reach in the abovementioned brands offering PEF solutions.

Fact.MR provides detailed information about the price points of key manufacturers of polyethylene furanoate positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Segmentation of PEF Market Research

• By Type :

  • Plant-based
  • Bio-based

• By Application :

  • Fibers
  • Bottles
  • Films

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA