Increasing demand for bio-based polymer products from various end-use industries such as packaging and automotive has been a key factor driving market globally. In addition, favorable properties of PEF over bio-based PET is anticipated to fuel demand over the same period. The Global Polyethylene Furanoate (PEF) Market demand is projected to reach 16,640.0 tons by 2022, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.0% during the forecast period. Polyethylene furanoate is a 100% recyclable biobased polymer extracted from plants. It is gaining popularity as several companies are engaged in the manufacturing of 100% biobased bottles, films, and fibers. The product is likely to witness high growth as it can be widely used as a potential substitute for biobased PET on account of its superior mechanical, thermal, and barrier properties. Moreover, it has better tensile strength, requires lesser additives than PET, and can be recycled and incorporat