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According to our LPI (LP Information) latest study, the global Bio-based PET market size was valued at US$ 2034 million in 2023. With growing demand in downstream market, the Bio-based PET is forecast to a readjusted size of US$ 3749.1 million by 2030 with a CAGR of 9.1% during review period.
The research report highlights the growth potential of the global Bio-based PET market. Bio-based PET are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Bio-based PET. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Bio-based PET market.
Bio-based PET is basically composed of monoethylene glycol (MEG) and terephthalic acid (PTA) and is biodegradable. It is widely used in the production of a variety of packaging solutions, mainly used in the food and beverage industry and the automotive industry. It also has numerous applications in making bottles, packaged goods, car interiors and building materials. The emergence of biodegradable bioplastics in manufacturing and packaging solutions has provided a strong impetus for the development of the bio-based PET market. An increasing number of eco-friendly products tend to use bio-friendly products among consumers around the world, as well as strict environmental regulations that promote the use of environmentally friendly products in all industries, leading to a strong demand for Bio-based PET materials.
For the production and consumption of Bio-based PET, the global consumption distribution is mainly focused in the areas of Asia-Pacific, which is expected to take up about 41.42% of the market share in 2018. The top three companies in the industry are Toray Industries, Plastipak Holdings, and Teijin, which account for nearly 30% of the market share. The industry is a monopolistic competitive market. Bio-based PET is used in Packaging Industry, Automotive Industry, Electronics Industry, Textile Industry, etc. In 2018, Packaging Industry accounted for a major share of 67.67% the global Bio-based PET market, the revenue of this segment is 578.03 million USD in 2018.
Key Features:
The report on Bio-based PET market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Bio-based PET market. It may include historical data, market Segmentation by Type (e.g., Bio-based PET Bottles, Bio-based PET Fibers), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Bio-based PET market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Bio-based PET market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Bio-based PET industry. This include advancements in Bio-based PET technology, Bio-based PET new entrants, Bio-based PET new investment, and other innovations that are shaping the future of Bio-based PET.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Bio-based PET market. It includes factors influencing customer ' purchasing decisions, preferences for Bio-based PET product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Bio-based PET market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Bio-based PET market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Bio-based PET market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Bio-based PET industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Bio-based PET market.
Market Segmentation:
Bio-based PET market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
- Bio-based PET Bottles
- Bio-based PET Fibers
- Bio-based PET Films
- Others
Segmentation by application
- Packaging Industry
- Automotive Industry
- Electronics Industry
- Textile Industry
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Toray Industries
- Plastipak Holdings
- Indorama Ventures
- Teijin
- Anellotech
- Far Eastern New Century
- Toyota Tsusho
- Coca-Cola
Key Questions Addressed in this Report
What is the 10-year outlook for the global Bio-based PET market?
What factors are driving Bio-based PET market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Bio-based PET market opportunities vary by end market size?
How does Bio-based PET break out type, application?