bio-pet-market
Published

MAR 2018

Global Bio-PET Market - Segmented by Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

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The global bio-PET market is expected to witness a CAGR of over 11% during the forecasted period, majorly driven by growing popularity of bio-PET in food & beverage packaging, especially bottles, which is experiencing huge demand from global soft drink majors, like Coca-Cola and Pepsi Co.

Favorable Regulatory Policies towards Bio-PET Driving the Market

Bio-PET (Polyethylene Terephthalate) is made of sustainable raw materials and is deemed to be less harmful than PET bottles made of raw materials derived from crude oil. Many people from developed nations, worldwide are voluntarily giving up the consumption of plastic bottles that are difficult to recycle, due to their harmful effects on environment in terms of greenhouse emissions. Bio-PET offers a sustainable alternative to these petroleum based ones and the government regulations that are drafted to reduce the greenhouse emissions are expected to favorably affect the Bio-PET market.

Bottle the Dominating Application

Bottles are the major application for PET and bio-PET is expected to be used largely in the manufacture of these bottles in the future. The demand for these bottles, especially from soft drink manufacturers, like Pepsi Co. and Coca-Cola is expected to hugely boost the bio-PET market. These companies are actively spending huge resources in the manufacture of bio-PET bottles and are doing their part in order to protect the environment.

Asia Pacific, the Principal Region in Growth of bio-PET

The Asia-pacific is home to half of the population in the world and its consumption of PET bottles is in a huge scale. This region is expected to play a prominent role in the growth, in usage of bio-PET, as it is massively helps for the wide-scale acceptance of bio-PET in multiple applications like textile, packaging etc. The high cost of bio-PET is a deterrent or its wide acceptance in this region due to the cost conscious nature of the consumer. Major manufacturers are focusing on lowering the price of bio-PET, and the success in lowering the prices hugely affects the market shift towards bio-PET.

Notable Developments

  • In February, 2018 Braskem has partnered with Haldor Topsoe for the production of Monoehtylene Glycol (MEG) from sugar. MEG is a key ingredient in production of PET and bio based MEG is used in the manufacture of bio-PET for a sustainable future. The plant is expected to experiment with raw materials like second-generation sugars, sucrose and dextrose

Major Players: Arkema, Exxon Mobil Corporation, Ford Motors, Coca-Cola Co., and PepsiCo, amongst others.

Reason to Purchase this Report

  • To understand the impact of various applications on the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating application in the market
  • Countries expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
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