Polyethylene furanoate Market: Introduction
Polyethylene furanoate also known with a chemical name of poly (ethylene 2, 5-furandicarboxylate) falls under the category of bio based polymer. Being derived from bio based sources makes polyethylene furanoate based products 100 % recyclable. The synthesis of polyethylene furanoate is done through the copolymerization of 2, 5-furandicarboxylic acid along with ethylene glycol via polycondensation. Polyethylene furanoate has been considered as the potential substitute for fossil fuel based polyesters. In the global marketplace polyethylene furanoate is considered as a next generation polyesters. Polyethylene furanoate exhibits astonishing properties such as barrier against oxygen, carbon dioxide & water, high glass transition temperature & lower melting point when compared to conventional plastics. Also, polyethylene furanoate shows better tensile strength and requires less additives than polyester during formulation.
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With these above said properties, polyethylene furanoate is turning over as a choice of material in numerous number of application such as it is preferred as the raw material for bottle grade resins for beverage containers, used as a raw material for fibers & films. With better barrier properties polyethylene furanoate based films are getting attracted for the storage purpose of food items. Polyethylene furanoate based films enables the increased shelf life of the food products along with keeping its nutritious value intact. Moreover, polyethylene furanoate can be incorporated into the polyester recycle streams at up to 5% polyethylene furanoate with negligible effect on the properties of recycled PET.
Polyethylene furanoate Market: Market Dynamics
Polyethylene furanoate is gaining advantages and replacing commercial plastics such as polyesters & polypropylene in the market place in the last few years. It has been expected that the same roadmap for the consumption of polyethylene furanoate in various applications has to be followed in the next 8-10 years. Main reason implicit behind gaining adoption and attraction of polyethylene furanoate in the commercial marketplace is its numerous exceptional properties than conventional polymers such as better barrier properties, thermal & mechanical properties. There are numerous factors in the market that can act as a primary driving forces for the expansion of polyethylene furanoate market such as intense pressure in the bottle beverage industry to reduce down the solid waste generated through polyester bottle scraps, regulation imposed by the government to reduce the landfill cost and growing preference of the end users towards the usage of bio-based materials. Also, numerous initiatives taken by R&D specialist players to produce and commercialize polyethylene furanoate based bottles is expected to fuel the polyethylene furanoate market. However, availability of bio based substitute such as bio based PET & high cost associated in formulation of polyethylene furanoate though polycondensation process may hamper the overall market growth in short term.
Polyethylene furanoate Market: Segmentation
On the basis of Application, the Polyethylene furanoate Market can be segmented as:
On the basis of End Use Industry, the Polyethylene furanoate Market can be segmented as:
- Food & Beverage
Polyethylene furanoate Market: Region Wise Trends
Growing demand bio based solutions in numerous end user industries is expected to create huge demand space for polyethylene furanoate based products across the globe. In developed region such as North America & Western Europe, in the presence of laws & regulation to reduce down the environmental pollution, polyethylene furanoate based bottles & fiber products are getting traction. In Asia Pacific, emerging economies such as China, India & South East Asia countries, with the expansion of food & beverage and Adhesive industries the demand of polyethylene furanoate get propelled. Japan is also showing adoption of polyethylene furanoate based products as the country is moving towards the initiative of reducing carbon footprints. In Latin America & MEA the polyethylene furanoate packaging solution are getting traction owing to its exceptional barrier properties. Efficient barrier properties is one of the requisite for packaging solution in humid areas.
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Examples of some of the market participants in the Global Polyethylene furanoate Market identified across the value chain include:
- Corbion NV
- Mitsui & Co. Ltd.
- Swire Pacific Ltd.
- Toyobo Co., Ltd
- AVA Biochem AG
- Toyo Seikan Co., Ltd