Global Polyethylene Furanoate Films Market by Application (Industrial, Packaging) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global market for polyethylene furanoate film was worth USD 197.5 million. It is projected to grow at a compound annual rate (CAGR of 9.7%) between 2020 and 2035. The global market is expected to grow due to growing demand for sustainable packaging and favorable regulations regarding the use of biobased materials. The global demand for polyethylene furanoate films (PEF), is expected to rise due to increasing environmental concerns and government initiatives in many countries such as the U.K. and China. Due to their excellent oxygen barrier capability and high tensile strength, the increasing demand for packaged food, snacks, and ready meals is driving up demand for PEF film-based pouches.

The increasing number of research and development activities in different countries such as the U.K. China Japan and the U.S. is expected to lead to an increase in product demand for industrial applications over the forecast period.

These countries have invested heavily in research to determine the potential applications of the product in roofing and water shielding as well as window flashing and wall lining in the construction industry. They also use it in protection for LED/OLED displays in electronics and silver nanowires to make flexible optoelectronics in electronics. Due to their thermal stability, extensive research has been done to examine the potential application of the product in the solar panel industry.

PEF films can be used as a substitute for PET films and packaging. They are exactly the same as PET, but they are made from 100% bio-based material. PEF films can also be recycled using existing infrastructure and do not require additional recycling costs. These factors make PEF film a popular choice in the packaging industry. They are expected to be a driving force for the future growth of the polyethylene furanoate market.

Application Insights

The market leader in packaging applications was more than 62.0% of global revenue in 2019, accounting for more that 62.0%. This large share can be attributed to high demand for bio-based packaging solutions. Due to increasing consumer preference for environmentally-friendly packaging materials, the demand for 100% biobased PEF film will increase quickly. Additionally, strict government regulations prohibiting the use of synthetic packaging materials are encouraging the use of PEF-based packaging products in food & beverage and pharmaceutical packaging.

Biaxially Oriented Polyethylene Terephthalate or BOPEF films provide a 10x higher oxygen barrier than Biaxially Oriented Polyethylene Terephthalate films (BOPET). PEF films have an oxygen permeability of about 10 cc/m2. This makes them suitable for packaging oxygen-sensitive products such as cheese, dairy, dry snacks and sauces as well as cosmetics. PEF-based pouches are also tough and clear and can be used for both dry and liquid products.

PEF films are used in many industries, including electronics, food, and pharmaceuticals, because of their low weight and excellent barrier properties. Research is ongoing in the construction industry to determine how PEF films can be used in roofing, roof flashing, wall lining, water shielding, and wall lining. Products will also be used more frequently as protective films for OLED and LED displays in the future.

In countries such as Japan and China, manufacturers are forming strategic partnerships with local electronics companies. This is because the market for new electronic appliances is rapidly growing. Avantium Technologies B.V. partnered in November 2019 with Mitsui & Co., Ltd., a Japanese multinational, to develop PEF films for electronic applications. They will also distribute them in Japanese high-end consumer brands.

The rising availability of transparent bio-based transparent conductive film made of silver nanowires to enable flexible optoelectronic device development will support a higher growth rate in product demand. This is expected to be supported by an increase in the production of transparent bio-based transparent conductive film. Due to its low melting temperature and thermal stability, solar panels are expected to see an increase in their applications.

Regional Insights

Asia Pacific dominated the global market in 2019, accounting for over 45.0% of overall revenue share. The rising preference of consumers for recyclable, sustainable, bio-based packaging material explains this significant share. As governments in various countries such as China and India offer subsidies to end-users and manufacturers of sustainable packaging materials, the regional market will grow at a steady CAGR between 2020 and 2035.

China's market is expected to experience significant growth in the coming years due to its rapidly growing end-use industries such as food and beverage and pharmaceuticals. The Chinese government has imposed strict regulations regarding sustainable packaging. This is expected to increase product demand. Europe is a leader in implementing sustainable practices, laws and regulations for better environmental conditions.

These laws address air pollution and the use biodegradable and organic materials as substitutes for plastics and other polymers. The European Union (EU), has imposed strict restrictions on the same, including the use of recycled plastics in all beverages bottles. These guidelines and laws are expected to increase product demand in the region.

Avantium Technologies B.V. has entered into long-term strategic partnerships with major North American companies, including Danone S.A. and Coca Cola Company. These collaborations will allow them to set up commercial plants that can synthesize PEF resins at low cost. These companies are also working to produce pouches made from PEF film as an alternative to PET-based pouches in order lower their carbon footprint.

Market Share Insights & Key Companies

To introduce bio-based PEF products to their packaging lines, manufacturers have developed close partnerships that are both technological and financial. Toyobo, for example, has formed a joint venture to produce PEF resins faster and have them adopted in the food and beverage and pharmaceutical packaging industries. Avantium has also formed financial partnerships with other companies to produce PEF at lower costs. The following companies are major players in the global market for polyethylene furanoate film:

• Avantium Technologies B.V.

• Danone S.A.

• Coca-Cola Company

• Toyobo Co., Ltd.

• Alpla

Up Market Research published a new report titled “Polyethylene Furanoate Films Market research report which is segmented by Application (Industrial, Packaging), By Players/Companies ALPLA, Toyobo Co, Ltd, Danone SA, Avantium Technologies BV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Polyethylene Furanoate Films Market Report Segments:

The market is segmented by Application (Industrial, Packaging).

Polyethylene Furanoate Films Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Polyethylene Furanoate Films Market

Overview of the regional outlook of the Polyethylene Furanoate Films Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Polyethylene Furanoate Films Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Polyethylene Furanoate Films Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Industrial

                2. Packaging

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Polyethylene Furanoate Films Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Polyethylene Furanoate Films Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.