Polyethylene Furanoate Market Size Worth $44.5 Million By 2027

The global polyethylene furanoate market size is anticipated to reach USD 44.5 million by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2020 to 2027. The growing demand for bio-based plastics in various end-use industries, such as food and beverages, consumer goods, and pharmaceutical, is driving the PEF market.

Polyethylene furanoate is a 100% recyclable bio-based polymer that is extracted from plants and has the potential to replace widely used polymer, namely Polyethylene Terephthalate (PET), which is a durable material derived from conventional resources. It has better moisture barrier and mechanical properties in comparison to PET. Additionally, PEF offers enhanced tensile strength, requires less additives compared to polyethylene terephthalate, and can be used with PET recycling process up to 5% of PEF without impacting the performance of recycled PET.

The recent outbreak of the highly contagious coronavirus disease is anticipated to hamper product demand, majorly in films and fibers applications. The outbreak has also resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown, which are further expected to impact the demand for PEF in the aforementioned applications. However, the growing positive cases of COVID-19 in Asia Pacific and Europe are positively influencing the demand for bio-based plastics in the packaging industry for various applications, such as food and beverages, pharmaceuticals, textiles, and other industries.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/polyethylene-furanoate-pef-market

Further key findings from the study suggest:

The bottles application segment held the largest revenue share in 2019. Polyethylene Furanoate is widely utilized in the packaging of food and beverages, consumer goods, and others
PEF fibers are used to produce bio-based textiles, which are used in sports apparel, further reducing the stress on the entire value chain to produce conventional plastics for textiles, such as nylon and polyester
As of 2019, Asia Pacific led the market and accounted for more than 45.0% share of the global revenue. The shift in the production landscape of bio-based plastics toward emerging economies, particularly China and India, is expected to positively influence PEF market growth over the forecast period

Food Packaging Market Worth $456.6 Billion By 2027

The global food packaging market size is expected to reach USD 456.6 billion by 2027, expanding at a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc.. Growing demand for convenience food products due to change in lifestyle and alternative eating habits is expected to bolster the market growth.

The industry exhibits rapid growth for single-serve and portable food packs. Increasing purchasing power of buyers owing to rising per capita income is expected to boost the growth. Furthermore, increasing urban population and attraction toward ready-to-eat meals by consumers is expected to spur the demand for food packaging.

Rising concerns of consumers regarding contamination and food safety is predicted to bolster the demand for effective packaging solutions. In addition, increasing number of retail chains is anticipated to propel sales of packaged food, consequently driving the market growth. Surge in demand for food delivery services is also expected to have a positive impact on the industry.

Rising inclination toward innovation in environment-friendly and sustainable packaging is an emerging trend in the industry. Emergence of new and innovative packing types and technologies including Modified Atmosphere Packaging (MAP), active packaging, and, printing technologies are expected to boost the market across the globe. Players also insist on investing in development of cost-effective, lightweight, and high performance materials.

The food packaging industry is expected to be restrained by high volatility observed in prices of raw materials. In addition, introduction of sustainable packaging materials by major manufacturers and increasing consumption by buyers, are expected to provide an impetus to the market over the next few years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/food-packaging-market

Further key findings from the report suggest:

Flexible packaging is expected to register the highest CAGR of 6.0% in terms of revenue from 2020 to 2027, owing to its cost-effectiveness, high performance, and constant innovations undertaken by major manufacturers
Paper and paper-based packaging is estimated to be the fastest growing segment, exhibiting a CAGR of 6.1% from 2020 to 2027, owing to its low cost and sustainability parameters
Bakery and confectionary is anticipated to be the largest application, which recorded a market size of USD 82.6 billion in 2019 owing to growing demand for cakes, candies, and frozen ready-to-eat bakery products
The market in Asia Pacific is was worth USD 112.2 billion by in 2019. The region is anticipated to witness significant growth in near future on account of growing population, increasing urbanization, and rising disposable income of consumers
The food packaging industry is characterized by the presence of large number of players and is highly fragmented. Some of the key players in the market are Amcor Plc., Ball Corporation, Berry Plastic Group, and DS Smith PLC.

Stretch And Shrink Film Market Size Worth $21.72 Billion By 2027

The global stretch and shrink film market size is expected to reach USD 21.72 billion by 2027, exhibiting a CAGR of 5.5% during the forecast period, according to a new report published by Grand View Research, Inc. Rising demand for lightweight material for industrial packaging is expected to drive the growth. Factors such as superior packaging properties, such as improved printability, easier application, and robust package sealing capabilities of the films are anticipated to further fuel the growth.

The introduction of superior shrink and stretch film materials, such as linear low-density polyethylene (LLDPE), extended polyethylene (EPE), and high-density polyethylene (HDPE) is expected to further strengthen the pallet holding abilities of the films. In addition, the development of bio-degradable stretch and shrink films by leading manufacturers in a bid to counter the challenges of film disposal is expected to drive the demand. The light weight of the product results in a substantial decrease in the transportation cost thereby elevating the profit margins, resulting in the higher adoption of such packaging materials by the leading end-use industries.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/stretch-and-shrink-films-market

Further key findings from the report suggest:

LLDPE is expected to witness robust CAGR of over 5.1% from 2020 to 2027. The demand was driven by superior pallet unitization characteristics of LLDPE shrink films. The LLDPE resin-based stretch films are expected witness rise in demand owing to the increased damage resistance during product transportation
Stretch and shrink film is expected to register highest CAGR of more than 5.5% from 2020 to 2027. The growth is expected to be driven by increasing demand for hoods in industrial packaging and consumer goods packaging. Also, ease of packaging achieved by these hoods are is expected to drive the demand
Sleeves and labels is expected to witness robust growth on account of rising demand for the product in beverage industry. Also, easier product marketing and branding owing to the ease of application of the labels onto the bottle is expected to attract major beverage manufacturers towards the product segment
Food and beverages application accounted for 41.95% of overall revenue share in 2019, driven by the increasing demand for high strength, low weight packaging materials. In addition, ease of packaging material sterilization is expected to drive the demand in food packaging
Asia Pacific was valued at over USD 5.97 billion in 2019 owing to rapid growth of the application industries such as food and beverage and consumer goods
In addition, growing import and export activities by the developing economies, such as India and China are expected to drive the demand for low weight packaging material for pallet unitization of industrial goods
Major key players operating in the stretch and shrink film market are Dow, Bemis, and LyondellBasell.

TPU Films Market Size Worth $548.10 Million By 2025

The global thermoplastic polyurethane films market size is anticipated to reach USD 548.1 million by 2025 expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Increasing healthcare spending coupled with growing automotive sector is projected to drive the market. Asia Pacific is the dominant regional market due to the strong presence of major companies, such as Huntsman, Nippon, and Lubrizol, with large production capacities. Asia Pacific is also the leading consumer of TPU films due to growing automotive, construction, and energy sectors.

Major manufacturers based out of North America and Europe have set up wide distribution networks in developing countries by acquiring regional companies. This is also likely to have a positive impact on the region’s growth. Moreover, reduced reliance on export to Western Europe and North America is projected to increase the investments and trade in the local markets of Asia Pacific. Availability of cheap labor and easy access to finance are also likely to support the domestic market growth.

In addition, growing population and rising income levels are anticipated to fuel the development further. Rising global aniline prices have impacted the profitability of TPU films producers as there is intense competition in the global market. Due to the presence of a large number of suppliers, buyers have the advantage of low switching cost; therefore, manufacturers cannot afford to lose out on their customers and in the process jeopardize their profitability. Bio-based alternatives of TPU are capable of replacing the synthetic (petroleum-based) TPU.

Bio-based TPUs are widely used in almost every end-use industry where synthetic product is being used. Bio-based films provide a clean solution to the growing demand for Thermoplastic Elastomers (TPEs). Wearables in the medical field are expected to provide many opportunities over the coming years. As per the data published by DuPont, conductors, printed on TPU films show good results. Increasing healthcare spending coupled with rising awareness are likely to assist the market growth of wearable technology, thereby developing new opportunity for the product.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/tpu-films-industry

Further key findings from the study suggest:

Automotive is anticipated to be the largest application segment of the TPU films market during the forecast period on account of growing demand for vehicles
Aerospace is also predicted to witness a steady growth due to increasing demand from emerging countries, such as China and India
Asia Pacific was the second-largest regional market and accounted for 29.6% of revenue share in 2018 owing to the rapid development of automotive and construction sectors in the region
The 3M Company, Bayer Material Science, Huntsman Corp., Permali Gloucester Ltd. are the major companies in the global market
Most of these companies emphasize on their R&D activities for novel product development