Bio-based PET Market

Global Bio-based PET Market: Overview

The emergence of bio-plastics, as well as the increasing concerns pertaining to growing greenhouse gas emissions is propelling demand within the global bio-based PET market. Growth of the market is also driven by rising demand for sustainable and green packaging solutions and materials. The professional intelligence report carefully inspects the landscape of the global bio-based PET market. It offers valuable information pertaining to a host of different factors and trends that can act as either drivers or barriers for the growth of the global bio-based PET market in coming years. It also assesses various development and advancements in technology that can powerfully shape the trajectory of the market over the next few years. Key applications for the products and solutions offered by manufacturers in the global bio-based PET market include technical products, bottles, and consumer goods, among others.

Global Bio-based PET Market: Major Trends and Drivers

The rising demand for bio-based PET of polyethylene terephthalate products for manufacture of various types of packaging solutions, such as bottles and pouches, is driving growth of the global bio-based PET market. Furthermore, increasing use of these technologically advanced and green materials for manufacture of automotive interiors, electronics, construction goods, and packaged goods, is also positively affecting market growth. Some other notable drivers for the global bio-based PET market include growing number of regulations by governments across the world that restrict the use of single use and petroleum based synthetic polymer materials.

Global Bio-based PET Market: Key Players and Manufacturers

The research report on the global bio-based PET market thoroughly examines the commercial landscape of the market. It identifies all the leading and noteworthy manufacturers and industry leaders and sheds light on their performance, sales, revenue, profit margins, and recent developments over the forecast period. It also offers holistic insights into operations of various market players, and inspects various growth and expansion strategies employed by these participants. A few of the most dominant and key stakeholders and companies operating in the landscape of the global bio-based PET market are The Coca Cola Company, Teijin Limited, Toyota Tsusho, Toray Industries, and M & G Chemicals, among others. The commercial landscape of the global bio-based PET market is extremely competitive in nature, owing to the presence of a small number of large sized and powerful international players. To get ahead of their competitors, players in the global bio-based PET market are engaged in entering into collaborations and partnerships with raw material manufacturers for uninterrupted supply of bio-based MEG as well as PTA compounds.

Global Bio-based PET Market: Regional Assessment

Asia Pacific accounted for the highest share within the global bio-based PET market in recent past. This trend can be ascribed to the rising level of awareness regarding the significance of bio-plastics in developed regional economies, such as South Korea, as well as Japan. Furthermore, increasing number of regulatory guidelines in these nations, pertaining to reducing their reliance on polymer goods derived from synthetic processes is also positively affecting the growing acceptance of products in the global bio-based PET market.

North America region is also expected to record significant growth in the global bio-based PET market in coming years. This trend can be attributed to the growing number of technological innovations by regional players. Furthermore, increasing concerns pertaining to environmental damage caused by heavy use of synthetic plastics and polymers for packaging, and resulting growth in demand for sustainable and green packaging solutions is also boosting growth of the North America bio-based PET market. Growth of this regional market is also driven by the implementation of Montreal Protocol by Canada and the United States to reduce emissions of greenhouse gases. This protocol also restrains the regional population from using products that cause global warming. These trends are also likely to augment growth within the global bio-based PET market in coming years.