Bio-based Polyethylene Terephthalate Market will be growing at a CAGR of 20.8% during the forecast 2018 to 2026

According to the latest report published by Acute Market Reports, Inc. “Global Bio-based Polyethylene Terephthalate Market – Growth, Future Prospects, and Competitive Analysis, 2018-2026,” the global bio-based polyethylene terephthalate market expected to grow at the CAGR of 20.8% from 2018 to 2026.

Market Insights

Due to eco-friendly nature and superior properties than PET, bio-PET is witnessing huge demand from various end-use industries such as food & beverages, cosmetics & pharmaceuticals, automotive, textile and so on. Traditionally, bio-PET comprises 30% bio-based MEG and 70% petroleum-based resins, however, many companies are investing to increase the production of bio-based MEG to eradicate the problem of inconsistent supply of raw material for the development of 100% bio-based PET. For instance, Avantium invested in the construction of bio-MEG demonstration plant in the Netherlands, to ramp up the bio-based mono-ethylene glycol (MEG) production made directly from renewable sugars.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/bio-based-polyethylene-terephthalate-market

Bio-based polyethylene terephthalate can be used in all existing applications of conventional PET such as beverages containers, food containers, non-food containers, films & sheets, molded parts & components, and fabrics. In 2017, beverages containers accounted for the largest share, followed by films & sheets and food containers. Properties such as well physical, optical, and lightweight properties along with environment-friendly nature make bio-based polyethylene terephthalate a key material in these applications. The beverage containers segment is also identified as the fastest-growing application of bio-PET resin during the forecast period. Rising consumer awareness about the use of green products, and government efforts for reducing regarding GHG emission market to achieve climate and energy objectives projected to catapult the bio-PET market demand in the coming years. However, the high cost of bio-ethylene glycol is still and the emergence of competitive substitutes such as polyethylene furanoate (PEF) expected to restrain the market growth in the coming years.

Food & Beverages held the largest share of bio-based polyethylene terephthalate market by end-use industry in 2017. In the food & beverage industry, bio-based polyethylene terephthalate is used in water packaging, sweet beverages packaging, fruit juice packaging, beer containers, food containers, and others. Features such as good compatibility with food-grade materials, superior gas barrier properties, and retention of carbonation during the normal distribution & usage of carbonated beverages fuelling the material growth in the food & beverage industry. Bio-based polyethylene terephthalate market also has a positive outlook in the automotive and textile end-use industry on account of the move towards greater efficiency materials while addressing the prevailing environment problem across the world.

Based on the geography, Asia-Pacific dominated the market in 2017 by value and volume. Majority of the demand comes from economies such as India and China owing to booming food & beverages, textile, and automotive industries, rising middle class population with high disposable income, and rapid economic growth. North America closely follows the Asia-Pacific region owing to technical innovation, rising consumer awareness about the use of green products, and strict government & environment regulation for reducing the GHG emission market.

List of Companies Covered:

• The Coca Cola Company
• Teijin Limited
• Toyota Tsusho Corporation
• Anellotech Inc.
• Gevo Inc.
• Plastipak Holdings Inc.
• Virent Inc.
• Ford Motor Company
• M&G Chemicals
• SCG Chemicals Co., Ltd.

Market Segmentation:

By Application Segment

 • Beverages Containers

 • Food Containers

 • Non-food Containers

 • Films & Sheets

 • Moulded Parts & Components

 • Fabrics

 By End-use Industry

 • Food & Beverages

 • Cosmetics & Pharmaceuticals

 • Automotive

 • Textile

 • Others (consumer electronics, consumer goods, etc.)

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)