The Global Bio-based PET Market Size is estimated to expand rapidly in coming years, at a CAGR of 15.1% from 2018 to 2025. In 2017, the global market valuation was USD 2.7 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. Asia Pacific held the largest share of the global market in 2018 and will expand at the highest CAGR during the forecast years.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Polyethylene Terephthalate (PET) Market: Introduction

Polyethylene Terephthalate (PET) molecule comprises of two elements, which are terephthalic acid and monoethylene glycol, also called MEG. A PET molecule is made up of 70% of terephthalic acid and 30% of MEG, however in bio-based PET, the ethanol is derived from renewable sources such as processing sugarcane which is followed by fermentation process which provides plant derived MEG, thus producing bio-based PET. Bio-based PET was commercialized and produced from 2010, for engineering and semi-engineering applications such as automotive, packaging, construction and others. The introduction of bio-based PET helped to solve various waste problems in the marine fishery, agricultural, packaging industry and construction industries, among others. Owing to these factors the bio-based PET market is expected to attract major traction in the forecast period.

Regulation & Rising Demands: Polyethylene Terephthalate (PET)

Some of the major factors driving the global bio-based PET market include rising greenhouse gas emissions, restrictions on usage of plastic packaging, increasing demand for sustainable lightweight and environment friendly material in automotive industry. Various government regulations against GHG emission is expected to accelerate the growth of bioPET. According to Green Growth and Energy Transition Law, stated in 2015 to reduce 25% of GHG emission by 2025 and reduce the use of nuclear and fossil fuels by diversification of energy supply in Europe. However a major restraint for the bio-based PET market is the introduction of polyethylenefuranoate (PEF) which may hamper the growth of bio-based PET market. Companies such as Avantium and Coca-Cola came together in 2011, to produce 100% bio-based polymer which is polyethylenefuranoate (PEF) owing to its better stability and glass transition temperature, which is expected to substitute bio-based PET in coming decade, which inturn is expected to hinder the growth of bio-based PET market during the forecast period.

The bio-based PET market is expected to grow due to its application in bottles and the packaging industry during the forecast period, coupled to the increase in consumption of carbonated soft drinks, alcoholic beverages and others beverages is serving the growth of the bio-based PET market. According to The Department of Agriculture and Agri-Food, the intake of alcoholic beverage in South Korea has steadily increased by 2.3% in 2016 from 2015, and due to free trade agreement with European Union in 2011 and U.S. in 2012, high growth is expected from alcoholic beverages for the bio-based PET market. The rise in demand for sustainable packaging materials in order to reduce carbon footprint are expected to propel the demand for bio-based PET market, owing to its ability to decompose into land, and reducing pollution towards water, air, and land. According to the European Commission, in 2014, 162.6 kg/person of packaging waste was accounted to be generated Europe. Thus, the growing awareness towards plastic pollution, is anticipated to boost the market growth for bio-based polyethylene terephthalate in the forecast period.

Regional Analysis

The global bio-based PET market is divided into regions that are North America - U.S, Canada, Other) (Asia-Pacific -India, Japan, China, Australia, Other) (Europe - UK, Russia, France, Brazil, Other) (Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.  Among regions, Asia-Pacific is expected to have the largest traction for the bio-based PET market during the forecast period due to factors such as high consumption rate of alcohol, carbonated soft drinks and rising utilization of sustainable packaging. According to UN Social Commission for Asia and the Pacific (ESCAP) trade insights report on January, 2018, the consumption of alcohol is 4.29 litres per capita in Asia Pacific which is followed by Europe, thus creating a huge market for the bio-based PET market in Asia-Pacific. Furthermore, various plastics regulations were introduced in ASEAN countries by various boards such as Thai Bioplastics Industry Association (TBIA) and National Innovation Agency (NIA) among others which is expected to implement various laboratory test and certifications to plastics manufacturers and other industries.

Global Bio-Based PET Market Size, Share Analysis By Region 2017

Global Bio-Based PET Market Study Objective

1. To forecast the market size of bio-based PET market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of bio-based PET market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of bio-based PET market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of bio-based PET market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the bio-based PET market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Major Player:

Key players operating in the field of bio-based PET market include The Coca-Cola Company, Toyota Tsusho Corporation, Teijin Limited, Toray Industries Inc., Gevo Inc., and Ford Motor Company among others.

Global Bio-Based PET Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.