A bio-based Polyethylene Terephthalate (PET) Size is produced from ethylene glycol obtained from plant sources. Market Research Future (MRFR) has published and released a research report about the global bio-based PET market that predicts growth for the market during the forecast period between 2021and 2028.

The major factors driving the global bio-based PET market Pricing Analysis is the increasing adaption of eco-friendly bio-based products to protect the environment and human health. Other factors include the fluctuating cost of the petroleum-based and related products, growing awareness about the hazardous nature of conventional plastics, government incentives to encourage the use of eco-friendly products, government regulations regarding environmental protection, and rising demand for eco-friendly packaging in various end-use industries such as automotive, consumer appliances, electrical electronics, food beverage.

The global Bio-Based PET Market has been segmented on the basis of application, raw material source, and region. Based on application, this market has been segmented into automotive, bottles, consumer goods, electronics, and others. As per raw material source, the market has been segmented into corn, sugar, and molasses.

The regional segmentation of the global bio-based PET Market segments the market into continent-based regional markets known as Asia Pacific, Europe, North America, Latin America, and the Middle East Africa (MEA). North America is the leading regional market because many key players in the market of manufacturing and selling PET bottles, consumer goods, and others are based in the United States of America (USA), the strongest economy in this region. In North America, the automotive sector of USA and Canada has the highest demand for a bio-based PET. In Latin America, the market may not as big as North America, but it is stable. The primary country-specific markets in this region are Argentina, Brazil, and Mexico, followed by the rest of Latin America.

According to the report, the Asia Pacific is the fastest growing regional market during the forecast period. The reasons for market growth include raw material availability, low-cost production, and industrial growth in this region. The production and exports of automotive and consumer goods in developing countries such as China and India have resulted in market growth. Other important country-specific markets in this region are Australia, Japan, and New Zealand, followed by the rest of the Asia Pacific region.

In Europe, the market is growing due to the rising demand from automotive industries in Western European countries such as France, Germany, and the United Kingdom (UK). Other important country-specific markets in this region include Italy, Poland, Russia, and Spain. In the MEA region, the demand for a bio-based PET is majorly driven by the growing environment safety issues and the rapid industrialization in this region. The most significant country-specific markets in this region are Bahrain, Israel, Kuwait, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and United Arab Emirates (UAE), followed by the rest of MEA region.

Key Players

The key players in the global Bio-Based PET market include Amyris (USA), Anellotech, Inc. (the USA), Braskem (Brazil), Gevo, Inc. (the USA), Indorama Ventures Public Company Limited (Thailand), MG Chemicals (Italy), NatureWorks LLC (USA), Novamont SPA (Italy), Plastipak Holdings, Inc. (the USA), TEIJIN LIMITED (Japan), TORAY INDUSTRIES, INC. (Japan), and Toyota Tsusho Corporation (Japan).

Latest Industry News

  • PepsiCo has joined the NaturALL Bottle Alliance, a research consortium that started last year by Danone, Nestlé Waters, and a startup called Origin Materials to develop packaging made with 100% sustainable and renewable resources. This partnership aims to create bio-based beverage containers with lower carbon footprints. 13 SEP 2018
  • Anellotech is collaborating with strategic partners Axens, IFPEN, Johnson Matthey, Suntory, Toyota Tsusho, and for the development and commercialization of the Bio-TCat Process which consist of non-food biomass such as agricultural residues or wood. 5 APR 2018

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

Related Report:

https://www.marketresearchfuture.com/reports/thiochemical-market-6242

https://www.marketresearchfuture.com/reports/butadiene-derivatives-market-6601

https://www.marketresearchfuture.com/reports/3d-printing-plastics-market-6741

https://www.marketresearchfuture.com/reports/facades-market-7076