Bio-Based PET Market Size - Global Industry Overview and Competitive Analysis Research Report 2023

Market Research Future Published a Half-Cooked Research Report on Global Bio-Based PET Market Research Report- Forecast to 2023

Key Players:

Some of the prominent market vendors present in the Global Bio-Based PET Market Size include Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy),  NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), and Toyota Tsusho Corporation (Japan).

Market Segmentation:

The report on Bio-Based Pet Market by Market Research Future (MRFR) includes a detailed analysis of various types of Raw Materials Used, Applications of Bio-Based PET, as well as specific regional analysis. The raw materials studied in the report include sugar, corn, and molasses. Alternatively, the applications of Bio-Based PET products, as included in the report are bottles, automotive, electronics, and consumer goods. Bio-Based PET is expected to garner the highest demand for the manufacture of bottles during the forecast period.

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Detailed Regional Analysis:

MRFR has analyzed the Global Bio-Based PET Market for different regions for providing specific insights to its clientele. These regions include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these five regions, North America is leading the Global Bio-Based PET Market during the assessment period. Elevated consumption of polyethylene terephthalate for the manufacturing of bottles and other consumer goods is contributing to the burgeoning of the Bio-Based PET Market in North America. The U.S. is expected to spearhead the country-specific Bio-Based PET Market in the region. This can be attributed to the mounting demand for the same from the automotive sector residing in the country. Similarly, Canada is anticipated to consume higher Bio-Based PET to satiate the increasing demand from the country’s automotive industry.

Asia Pacific is assessed to witness the fastest CAGR in Bio-Based PET consumption. Raw material availability, lower cost of production, and rapid industrialization of the region are factors causative of accelerated growth in the region. Additionally, the production and exportation of consumer goods and automotive in various emerging economies such as India and China are anticipated to contribute to the augmentation of the market.

Europe’s Bio-Based PET Market is expected to ascend at a significant rate. This can be owed to the elevating demand for Bio-Based PET from automotive industries residing in the UK, France, and Germany.

Alternatively, the demand for Bio-Based PET in the Middle East & Africa is primarily driven by the growing environment safety issues and rapid industrialization witnessed by the region.

Browse Key Industry Insights spread across 100 pages with 37 market data tables & 12 figures & charts from the report, “Bio-Based PET Market Information: By Raw Material Source (Sugar, Molasses, Corn), Application (Bottles, Consumer Goods, Automotive, Electronics, And Others)  and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/bio-based-pet-market-5823

Global Bio-Based PET Market Overview:

Bio-Based Polyethylene Terephthalate (PET) is produced from ethylene glycol that is obtained from plants. These plant sources include non-toxicity, recyclability, reduced carbon footprint, and a high resistance to shattering. Market Research Future (MRFR) has reported that the Global Bio-Based PET Market is anticipated to expand at a significant rate through the conjecture period.

Attributable factors to the ascension of the Bio-Based PET Market include the increasing adoption of environment-friendly products to curb climate change and its impact on human health and the fluctuating cost of petroleum-based products. The hazardous nature of traditional plastics is pushing governments all over the world to introduce stringent regulations to curb carbon emissions and the usage of harmful plastic products. This is also estimated to provide momentum to the upscaling of the Global Bio-Based PET Market.

Moreover, rising demand for eco-friendly packaging in several end-use industries is leading to a surge in the consumption of Bio-Based PET products. Such industries include automotive, food & beverages, electrical & electronics, as well as consumer appliances. Such an upsurge in demand for Bio-Based PET products is expected to contribute significantly to market growth. Additionally, technological developments have allowed the production of 100% Bio-Based PET. For instance, the Plant PET Technology Collaborative (PTC) by Virent, Inc uses paraxylene using beet sugar instead of fossil fuels. These technological developments are anticipated to promote higher adoption of Bio-Based PET products, fueling growth in the market.

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Industry Update:

September 2018: PepsiCo formed a partnership with NaturALL Bottle Alliance to develop packaging made from 100% sustainable and renewable sources. This partnership was established with the intention of creating beverage bottles that have a lower carbon footprint. Following this, the Alliance aims to make 95% Bio-Based PET bottles.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Bio-Based PET Market Trends, Drivers, Strategies, Applications and Competitive Landscape 2023

The Global Bio-Based PET Market is spanned across five regions namely North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. North America is the leading region in the Global Bio-Based PET Market due to the high production and use of the product in the packaging of food products, medical products, and automotive. The U.S. Toxic Substances Act, Clean Water Act, and Clean Air Act are few of the initiatives taken by the Government to protect the environment and human health, thereby, increasing the demand for Bio-Based Polymers. Furthermore, the presence of National Association for PET Container Resources (NAPCOR) in the U.S. and Canada to promote PET packaging is anticipated to drive the global market during the assessment period.

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The Asia Pacific is anticipated to be the fastest growing region in the Global Bio-Based PET Market due to high demand for the product from the consumer goods, electronics, and automotive industries. The increasing demand for these products can be attributed to the changing lifestyle and the high disposable income. The increasing production and sales of lightweight and efficient electronics and automotive in Japan and China have augmented the market growth. The Chinese government has implemented the VOC control policies in the country to limit the CO2 emissions, which are likely to fuel the market growth over the next seven years.

Europe is the second largest region in the Bio-Based PET Market due to the increasing demand for the product from food & beverage, automotive, and pharmaceuticals industries in the region. The EU Commission has approved Reach to control the carbon emissions, which will boost the market growth.

The high availability of raw material such as corn and maize in Brazil and Mexico may increase the production of Mono-Ethylene Glycol, which may further drive the Global Bio-Based PET Market in Latin America.

Key Players:

Some of the Manufacturers Operating in the Global Bio-Based PET Market are Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy),  NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), Toyota Tsusho Corporation (Japan), and others.

Segmentation:

The Global Bio-Based PET Market is segmented based on the Raw Material Source, Application, and Region.

The Raw Material Source to produce bio-based PET are sugar, molasses, and corn.

The Global Bio-Based PET Market is segmented based on the Application as bottles, consumer goods, automotive, electronics, and others.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Global Bio-Based PET Market Forecast to 2023 with Production and Consumption Analysis

Market Overview
A Bio-Based PET is manufactured using mono-ethylene glycol and terephthalic acid and offers properties such as non-toxicity, recyclability, reduced carbon footprint, and high resistance to shattering which are highly useful in various packaging solutions.

The Global Bio-Based PET Market is segmented on the basis of its application such as bottles, consumer goods, automotive, electronics, and others. Around 55% of the bio-based PET is consumed for manufacturing of PET bottles as they are rigid and non-toxic for the storage of beverages such as liquors, soft drinks, mineral water, and others. Increasing beverage consumption across the globe is the major factor influencing the market growth positively. The lightweight property of the Bio-Based PET has augmented the demand in manufacturing and packaging consumer goods. The changing lifestyle and the increasing demand for consumer goods such as refrigerators, washing machines, TV, home appliances, and others along with the high disposable income are expected to boost the market growth over the review period. This property also makes them useful in the automotive sector for manufacturing door panels, seat fabrics, interior mats, and others, which is anticipated to propel the market growth further. They enhance durability, gloss finish, and dimensional stability in electronic appliances, which, in turn, drives the Global Bio-Based PET Market growth. However, factors that may challenge the market growth include irregularity in feedstock supply and lack of cultivable land for corn, sugar, and others.

Competitive Analysis
Some of the manufacturers operating in the Global Bio-Based Pet Market are Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy),  NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), and Toyota Tsusho Corporation (Japan).

Market Segmentation
The Global Bio-Based PET Market is segmented on the basis of the raw material source, application, and region.

On the Basis of the Raw Material Source, the Global Bio-Based Pet Market is segmented as sugar, molasses, and corn.

Based on the Application, the Global Bio-Based Pet Market is segmented as bottles, consumer goods, automotive, electronics, and others.

Regional Analysis
The Global Bio-Based PET Market is segmented into five regions of North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The North American region is the leading region on the backdrop of the high demand and manufacturing of PET bottles and automotive in the U.S. and Canada.

Asia Pacific is the fastest emerging region in the Global Bio-Based PET on account of the raw material availability, low-cost production, and industrial growth in the region.

The demand for the Bio-Based PET from the automotive industries has augmented the market in Europe.

The growing environment safety issues and the rapid industrialization in the Middle East and Africa region is likely to drive the global market.

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