Market Size of Bio-PET Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 62.57 kilotons |
| Market Volume (2029) | 76.79 kilotons |
| CAGR (2024 - 2029) | 4.18 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio-Based PET Market Analysis
The Bio-PET Market size is estimated at 62.57 kilotons in 2024, and is expected to reach 76.79 kilotons by 2029, growing at a CAGR of 4.18% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- One of the major factors driving the market studied is the growing GHG (Greenhouse Gases) emission concerns.
- However, the development of PEF (Polyethylene Furanoate) and a low melting point of bio PET is likely to restrain the market.
- Environmental factors encouraging a paradigm shift will likely boost the demand for Bio-PET during the forecast period.
- Focus on renewable sources is likely to act as an opportunity for market growth in the future.
- Asia-Pacific dominated the market across the world, closely followed by North America. Asia-Pacific is likely to witness the highest growth rate during the forecast period.
