Bio-based Polyethylene Terephthalate Market, By Application (Bottles, Foam, Pressure Sensitive Adhesive Tape, Substrate in Thin Film Solar Cells, Cosmetics, Others), By End-use Industry (Packaging, Automotive, Textile, Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Feb 2025

Code : CMI1254

Pages :150

Formats :

Excel and PDF

Industry : Green Chemicals

Market Challenge- High production cost

As bio-based PET is still in its nascent stages, its production cost is currently significantly higher than conventional PET made from fossil fuels. The raw materials used for producing bio-based PET such as plant-based biomass instead of crude oil and natural gas increases the upstream production costs. Sugarcane-derived ethanol costs nearly 2-3 times higher than gasoline, according to data from the U.S. Energy Information Administration released in July 2024. Resources like corn and switchgrass also have higher costs.

Market Opportunity- Emerging applications in textiles industry

Textiles industry has emerged as one of the key end-use sectors for bio-based PET. With growing consumer preference for more sustainable fabrics made from renewable resources, textile brands and retailers have been actively promoting their product lines made from bio-based materials. Properties of bio-based PET such as strength, resilience and moisture-wicking make it suitable for various textile applications including clothing, home furnishings and upholstery.