Bio-based PET (Polyethylene Terephthalate) Market Insights:
The Bio-based PET (Polyethylene Terephthalate) Market was analyzed which was worth USD 4.16 Billion in the year 2022, expecting a CAGR of 22.01% during the forecast period (2023-2030), and the market is projected to be valued at USD 20.43 Billion by 2030.
Driver:
The increased adoption of Bio-based PET (Polyethylene Terephthalate) in the Renewable Chemicals is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Bio-based PET (Polyethylene Terephthalate) also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Bio-based PET (Polyethylene Terephthalate) in many sectors also boosts the market growth during the forecast period.
Bio-based polyethylene terephthalate (PET) is a type of plastic that is made from renewable, plant-based sources such as sugarcane, corn starch, and other agricultural crops. It is a type of polyester that is similar to traditional PET, which is derived from non-renewable sources such as petroleum. Bio-based PET is produced through a process called fermentation, in which the plant-based sugars are converted into monomers, which are then polymerized to form the final plastic product.
Bio-based PET (Polyethylene Terephthalate) Market Research Report” was just released by Market Research Community. It is divided into several categories, including End Use Industry (Packaging, Electrical and Electronics, Automotive, Others), application (Beverages (Alcoholic, Non-alcoholic), Sheet and Films, Consumer Goods, Food Packaging, Others), and companies (Amyris, Total Energies, Toyota Tsusho Corporation, Toray Industries Inc, Anellotech Inc., TEIJIN LIMITED, solvay, PTT Global Chemical Public Company Limited, ptt global chemical public company limited, Plastipak Holdings, Inc., Novamont S.p.A, NatureWorks LLC, M&G Chemicals, KURARAY CO., LTD., Indorama Ventures Public Company Limited, Gevo Inc., Biome Bioplastics, Braskem S.A., Daikin Industries Ltd.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 22.01%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 20.43 Billion |
| CAGR (2023-2030) | 22.01% |
| By End Use Industry | Packaging, Electrical and Electronics, Automotive, Others |
| By Application | Beverages (Alcoholic, Non-alcoholic), Sheet and Films, Consumer Goods, Food Packaging, Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Amyris, Total Energies, Toyota Tsusho Corporation, Toray Industries Inc, Anellotech Inc., TEIJIN LIMITED, solvay, PTT Global Chemical Public Company Limited, ptt global chemical public company limited, Plastipak Holdings, Inc., Novamont S.p.A, NatureWorks LLC, M&G Chemicals, KURARAY CO., LTD., Indorama Ventures Public Company Limited, Gevo Inc., Biome Bioplastics, Braskem S.A., Daikin Industries Ltd. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Bio-based PET (Polyethylene Terephthalate) market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Amyris, Total Energies, Toyota Tsusho Corporation, Toray Industries Inc, Anellotech Inc., TEIJIN LIMITED, solvay, PTT Global Chemical Public Company Limited, ptt global chemical public company limited, Plastipak Holdings, Inc., Novamont S.p.A, NatureWorks LLC, M&G Chemicals, KURARAY CO., LTD., Indorama Ventures Public Company Limited, Gevo Inc., Biome Bioplastics, Braskem S.A., Daikin Industries Ltd.
Market Segment Analysis:
By Application
Beverages
- Alcoholic
- Non-alcoholic
Sheet and Films
Consumer Goods
Food Packaging
Others
By End Use Industry
- Packaging
- Electrical and Electronics
- Automotive
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Bio-based PET (Polyethylene Terephthalate) industries in the region.
Key Bio-based PET (Polyethylene Terephthalate) Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Bio-based PET (Polyethylene Terephthalate) Market segments.
– Largest Market Share Held by Industry to Industry for Bio-based PET (Polyethylene Terephthalate)
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Bio-based PET (Polyethylene Terephthalate) Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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