Global market for polyethylene furanoate (PEF) is likely to increase on account of growing demand for sustainable packaging materials in vague of paradigm shift towards environmental concerns and sustainability. Increasing expenditure by chemical manufacturers towards the development of bio-based chemicals intended for reduction on dependence of petrochemical feedstock is expected to drive the market growth. Booming shale gas exploration in the U.S. in light of rising expenditure on hydraulic fracturing at domestic level is likely to hinder the market growth. PEF is manufactured from bio-based mono ethylene glycol (MEG) and FDCA (Furandicarboxylic acid) . In December 2011, Netherlands based, Avantium a Dutch based company has announced the development of new technology for the production of FDCA by 2016 which is expected to result in economic FDCA production. This technology is expected to augment theensure raw material access for polyethylene furanoate marketproduction.
http://www.grandviewresearch.com/industry-analysis/polyethylene-furanoate-pef-market
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