SAN FRANCISCO, Oct. 26, 2020 /PRNewswire/ — The global polyethylene furanoate films market size is anticipated to reach USD 800.9 thousand by 2035, according to a new report by Grand View Research, Inc., growing at a CAGR of 9.7% over the forecast period. The development of bio-based transparent conductive film comprised of silver nanowires for flexible optoelectronic devices is one of the key trends driving the demand for Polyethylene Furanoate (PEF) films. PEF films are better than PET films, in terms of performance, as they offer two to three times higher water vapor barrier, ten times higher oxygen barrier, and improved mechanical strength.
Key suggestions from the report:
- The market was valued at USD 197.5 thousand in 2019 and is estimated to grow at a CAGR of 9.7% from 2020 to 2035
- The packaging was the largest application segment in 2019. Biaxially Oriented Polyethylene Furanoate (BOPEF) films-based pouches offer 10 times higher oxygen barrier compared to BOPET pouches, which makes them suitable for liquid and dry products
- Industrial application is estimated to emerge as the fastest-growing segment from 2020 to 2035 owing to increasing demand for PEF films in electronics application such as protective films for LED and OLED displays
- Asia Pacific accounted for the highest market share of more than 45% in 2019 and will expand further at a steady CAGR from 2020 to 2035
- This growth is attributed to the rising demand for sustainable, bio-based, and recyclable packaging and construction materials in the region.
Read 65 page research report with ToC on “Polyethylene Furanoate Films Market Size, Share & Trends Analysis Report By Application (Packaging, Industrial), By Region (Asia Pacific, Europe), And Segment Forecasts, 2020 – 2035” at: https://www.grandviewresearch.com/industry-analysis/polyethylene-furanoate-films-market
The use of PEF films in food packaging extends the shelf life of moisture-sensitive foods, such as crisps, cookies, cereals, medical, and personal care products, and oxygen-sensitive foods, such as dairy products, fish, and meat, as well as provides a good barrier of aroma for detergents, fish, and packaged cheese. The extended shelf life of these products also lessens the burden on the cold chain industry. The biggest challenge faced by PEF film as a product is the lack of large-scale commercialization of the product. As the product is in the introduction phase and has a single pilot plant established, the requirement of infrastructure and operations is high considering the huge target market to be captured.
This requires major funding and a possible partnership with packaging companies in the domestic markets as well as collaboration with domestic companies for the business development aspect, as done in Japan. Countries, such as Japan and India, recycle more than 80% of the plastics and buy PET at a relatively lower price, which does not make bioplastics a preferential option. This can be overcome if there are subsidiaries in place in respective countries that incentivize the use of bioplastics.
Grand View Research has segmented the global polyethylene furanoate films market on the basis of application and region:
- PEF Films Application Outlook (Volume, Kilogram; Revenue, USD Thousand, 2019 – 2035)
- Packaging
- Industrial
- PEF Films Regional Outlook (Volume, Kilogram; Revenue, USD Thousand, 2019 – 2035)
- North America
- Europe
- Germany
- U.K.
- The Netherlands
- Asia Pacific
- China
- Japan
- Central & South America
- Middle East & Africa
List of Key Players of Polyethylene Furanoate Films Market
- Avantium Technologies B.V.
- Danone S.A.
- The Coca-Cola Company
- Toyobo Co., Ltd.
- Alpla.
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Thermoplastic Polyurethane (TPU) films– The global Thermoplastic Polyurethane (TPU) films market size was valued at USD 361.8 million in 2018, expanding at a CAGR of 6.1% from 2019 to 2025. Waterproofness, high resilience, and cool temperature resistance, are projected to boost product demand.
- Plastic Dielectric Films Market – The global plastic dielectric films market size was valued at USD 1.10 billion in 2018 and is expected to register a CAGR of 3.6% over the forecast period. Rising demand from renewable energy systems is potentially driving the market growth.
- Fluoropolymer Film Market – The global fluoropolymer film market size was estimated at USD 1.13 billion in 2016. Increasing demand from various application segments due to its excellent properties is expected to be a key growth factor driving the global market over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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