Bio Based Polyethylene Terephthalate Market
Bio-based polyethylene terephthalate market is estimated to be valued at USD 3.43 Bn in 2024, exhibiting a CAGR of over 8.9% over the forecast period (2024-2031). Bio-based polyethylene terephthalate (PET) is a bioplastic obtained from renewable sources like sugarcane and wood pulp. It offers similar properties to PET derived from fossil fuels. With rising concerns over plastic waste and demand for sustainable alternatives, bio-based PET market can witness significant growth.
Market Dynamics
Increasing health and environmental concerns associated with single-use plastics can drive the market growth. Growing consumer preference for sustainable packaging along with strict restrictions on petroleum-based plastics has boosted demand for bio- based PET. However, limited raw material sources and high manufacturing costs pose challenges. Extensive R&D in feedstock optimization and technological advancements are lowering production prices. Rising collaboration between brands and manufacturers to develop cost-competitive bio-PET solutions presents lucrative opportunities. Favorable government policies encouraging use of bio-plastics for a low carbon economy can also aid the market expansion. The bioplastic helps reduce dependence on crude oil and lower greenhouse gas emissions compared to conventional PET. It can be recycled and contributes to the circular economy. Leading brands are incorporating bio-based PET in food packaging, textiles and bottles to meet sustainability goals. Continued product innovation and supportive regulations can promote the adoption of this eco-friendly material.
Key features of the study
- This report provides in-depth analysis of the global bio-based polyethylene terephthalate market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global bio-based polyethylene terephthalate market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include The Coca-Cola Company, Danone India., Indorama Ventures Public Company Limited., MG Chemicals, TORAY INDUSTRIES, INC., Toyota Tsusho Corporation., VIRENT, INC., Anellotech, Inc., Gevo, Inc., Avantium N.V., Mitsubishi Chemical Group Corporation, PepsiCo, Plastipak Holdings, Inc., TEIJIN LIMITED
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global bio-based polyethylene terephthalate market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global bio-based polyethylene terephthalate market
Market Segmentation
Table of Contents
* Browse 50 market data tables* and 40 figures* on “Bio-based Polyethylene Terephthalate Market”-Global forecast to 2032.
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