A research study titled, “Bio-based PET Market by Product,
Application, Source Type, and Modality - Global Industry Analysis and Forecast
To 2025” published by Crystal Market Research, states that the Bio-based PET
Market is projected to be around $7.54 billion by 2025.
In 2016 the global bio-based polyethylene
terephthalate (PET) market size was approximated at nearly 2.09 billion and is
anticipated to reach approximately 7.54 billion by 2025 at a CAGR of 15.32%
during forecast period. Polyethylene terephthalate (PET) is known to be the
most generic thermoplastic polymer resin that belongs to the polyester family
and is commonly utilized in fibers that are used for clothing, containers for
food and liquids and in consolidation of glass fiber for engineering resins.
Bio-based polyethylene terephthalate (PET) is a polyester resin that is derived
naturally and is useful in a variety of applications such as bottles and
packaged goods, construction goods, electronics, automotive interiors.
Bio-based polyethylene terephthalate is also used in the packaging of
carbonated as well as alcoholic beverages like wine, sodas and spirits.
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The bio-based polyethylene terephthalate (PET)
market has witnessed significant growth owing to factors such as preference of
bio-based products over petroleum based products for food packaging. Increasing
demand for bio-based based polyethylene terephthalate for the manufacturing of
bottles is anticipated to influence the growth of this market. Rising demand in
multiple sectors and favorable regulation are factors that can spur the demand
of bio-based polyethylene terephthalate. Moreover, rising demand of food and
beverage packaging materials that are environmental friendly are expected to
spur the growth of this market. Rising concerns associated with greenhouse
gasses and bioplastics being used as an alternative in packaging and automotive
sector are said to have a positive impact on the growth of this market. In
addition, growing need of sustainable packaging is one of the factors that
boost the growth of this market.
On the grounds of application the bio-based polyethylene
terephthalate (PET) market is segmented into Technical, Consumer Goods and
Bottles. The key players in this market are Toyota Tsusho, The Coca-Cola
Company, Toray Industries, Gruppo Mossi Ghisolfi chemicals and Teijin Chemicals
Company. Geographically, the market is segmented into Asia Pacific, Europe,
North America and Rest of the world.
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Market Is Projected To Be Around $7.54 Billion By 2025” at:
Competitive insights
The major companies in
the global Bio-based polyethylene terephthalate market are The Coca-Cola Company, Gruppo
Mossi Ghisolfi chemicals, Toray Industries, Toyota Tsusho and Teijin Chemicals
Company. The Coca-Cola Company distributes its bio-based polyethylene
terephthalate under the name of PlantBottle. A few other brands that are available in the
market are GLOBIO and Eco Circle Plantfiber. The nature of this industry is
extensively competitive due to the existence of a restricted number of
companies. These companies get into a partnership with companies that
manufacture raw materials to have an uninterrupted supply of purified
terephthalic acid (PTA).
The Global
Bio-based polyethylene terephthalate market is segmented
as follows-
By Application
- Consumer
Goods
- Packaging
(Bottles)
- Technical
(Electronics and Automotive)
- Others
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About Crystal Market Research
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company. Crystal offers one stop solution for market research, business
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decisions. It provides both syndicated as well as customized research studies
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intelligence reports across a broad range of industries including healthcare,
chemicals & materials, technology, automotive, and energy.
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