BIO-BASED POLYETHYLENE TEREPHTHALATE MARKET ANALYSIS

Bio-Based Polyethylene Terephthalate MarketSize and Trends

Global bio-based polyethylene terephthalate market was valued at US$ 2456.00 Mn in 2021 in terms of revenue, exhibiting a CAGR of 17.57 % during the forecast period (2022 to 2030).

This bio-based polyethylene (PE) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bio-based polyethylene (PE) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Market Trends

The rising environmental concerns and awareness amongst consumers regarding the detrimental effects caused by conventional plastic materials have prompted governments of various nations to promote the uptake of sustainable packaging solutions with a higher recyclable rate. This, in turn, is facilitating the widespread adoption of bio-based polyethylene (PE) across several industrial verticals in the form of carry bags, bottles, plastic films, and containers for packing various consumer goods, which represents a prime factor driving the market growth. Moreover, the increasing need for carbon-free products to mitigate fossil fuel depletion and greenhouse gas (GHG) emissions is acting as another growth-inducing factor. In line with this, significant technological advancements in hydraulic fracturing procedures have resulted in the rise of shale gas formations that supply as a feedstock for manufacturing polymers, is supporting the market growth. Additionally, the implementation of global wide lockdown has supplemented the usage of e-commerce platforms to order multiple products, which is further fueling the demand for sustainable packaging materials, such as bio-based polyethylene, thus propelling the market growth. Other factors, such as strategic collaborations amongst key players and extensive investments in research and development (R&D) activities to engineer high-performance, recyclable, and non-toxic polymers, are creating a positive outlook for the market.