The market has been estimated at USD XX.XX billion in 2016 and is projected to reach USD XX.XX billion by 2022, at a CAGR of XX.XX% during the forecast period. Bio-polyethylene terephthalate (PET) is manufactured from bio-based ethylene glycol having properties of thermosetting resins. They contain properties such as biodegradability, biocompatibility, and are non-toxic in nature. These polymers are attracting a significant commercial interest owing as they are produced by the chemical polymerization of naturally occurring monomers.
Bio-PET can be used for various applications such as bottles, packaging, consumer durables, furniture, films, and others. Bottles is the largest application segment in terms of revenue and the fastest growing segment in the bio-PET market accounting for a share of XX.XX% in 2016.
Market Dynamics of the Global Bio-PET Market are:
The global bio-PET market has been studied for growth, market cost and forecast on the basis of geography into North America, Europe, South America, Asia-Pacific, the Middle East and Africa. North America is the leading consumer of bio-PET in 2015 accounting for a share of XX%, followed by Europe and Asia-Pacific. The bio-PET market growth in North America will grow at a high rate during the forecast period owing to stringent environment laws favoring its usage. The market will grow at a healthy pace during the forecast period.
Furthermore, the shifting focus towards eco-friendly products will offer numerous opportunities for the bio-PET market growth. Some of the major companies dominating the market with its products, and continuous product developments are:
Key Deliverables in the Study: