Market Size of Southeast Asia Bio-PET Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Southeast Asia Bio-PET Market Analysis
The Southeast Asia bio-PET market is expected to register a CAGR of over 5% during the forecast period of 2022-2027.
The COVID-19 pandemic has significantly impacted the bio-PET market by affecting production and demand, creating supply chain and market disruptions, and financial impact on firms and financial markets. COVID-19 has led to negative consequences in the Bio-PET manufacturing market. However, the market has recovered in the two years, and companies have formulated strategic decisions to gain a competitive edge.
- Over the short term, the major factors influencing the market are the growing concern about greenhouse gas emissions and environmental factors promoting the paradigm shift, likely to increase the demand for Bio-PET during the forecast period.
- However, the development of Polyethylene Furanoate (PEF) will likely restrain market growth.
- Nevertheless, focusing on renewable sources will likely act as an opportunity over the forecast period.
