Market Size of Polyethylene Furanoate (PEF) Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 2.40 kilotons |
| Market Volume (2029) | 6.01 kilotons |
| CAGR (2024 - 2029) | 20.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyethylene Furanoate Market Analysis
The Polyethylene Furanoate Market size is estimated at 2.40 kilotons in 2024, and is expected to reach 6.01 kilotons by 2029, growing at a CAGR of 20.11% during the forecast period (2024-2029).
The market was negatively impacted due to COVID-19. Owing to the pandemic, several countries worldwide went into lockdown to curb the spread of the virus. The shutdown of numerous companies and factories disrupted worldwide supply networks and harmed global production, delivery schedules, and product sales. Currently, the market recovered from the COVID-19 pandemic and is increasing significantly.
- Major factors driving the market studied are the increasing demand for polyethylene furanoate for bottle manufacturing and the rising demand from the fibers segment.
- On the flip side, the presence of other bioplastics such as bio-PET, bio-PE, bio-PP, etc., and the unavailability of raw materials are the major restraints expected to hinder the market's growth.
- Growing demand for bio-based polymers in the medical sector is expected to offer various lucrative opportunities for market growth.
- The Asia-Pacific region dominated the global polyethylene furanoate market, with the largest consumption from countries such as China and India.
