Acumen Research and Consulting recently published report titled “Polyethylene Furanoate Films Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027.
LOS ANGELES, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The market for Polyethylene Furanoate Films market is expected to grow at a CAGR of around 9.8% from 2020 to 2027 and reach the market value of over US$ 412.2 Thousand by 2027. Polyethylene Furanoate or PEF is a bio-based polymer which has gained immense popularity in the past few years due to its 100% recyclable nature. It is produced using renewable raw materials (sugars) derived from plants and also referred to as next-generation polyester. PEF Films has a great opportunity in flexible packaging and PEF has equal thermo-mechanical and surface properties as compared to BOPET-based packaging. Additionally, these PEF films are recyclable with other suitable layers or compatible with clean energy recovery at reduced GHG emissions.
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The polyethylene furanoate film market is segmented on the basis of application, end-use, and geography. Based on the application, the market is divided into packaging and industrial. On the basis of end-use, the market is bifurcated into food, electronics, pharmaceuticals, and others. . By geography, the market is divided across North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Additionally, the aforementioned regions are further segregated into the major countries of the respective regions.
In 2019, Asia Pacific held the major share (%) of the global Polyethylene Furanoate Films market. The region is gaining pace on account of its emerging economies including China and India. The rapidly increasing demand for packaged food products in the region is supporting the growth. The favorable government initiatives in order to support bio-based material packaging to effectively deal with the degrading environmental condition are additionally bolstering the regional market value. Furthermore, the region is also anticipated to experience the fastest growth with a major CAGR (%) during the forecast timeframe from 2020 to 2027.
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Some of the leading competitors are Avantium Technologies B.V. (Canada), Danone S.A. (France), The Coca-Cola Company (US), Toyobo Co., Ltd. (Japan), Alpla (Austria), and others. Polyethylene Furanoate Films companies have announced strategic mergers and acquisitions, partnerships & collaborations, and new product development to expand their position in the polyethylene furanoate film industry. Major players are also moving into new regions with advanced technologies for gaining a competitive advantage.