Bio Based Paraxylene Market Worth 20.46 USD billion, at a CAGR of 7.2%, Size, Trends, Growth Statistics and Forecast by 2029

Exactitude Consultancy Market Research analyses that the Bio Based Paraxylene Market will witness a CAGR of 7.2% for the forecast period of 2023-2029 and is likely 11.32 USD billion in 2021 to reach at 20.46 USD billion by 2029.

Research report on the Bio Based Paraxylene market allows buyers to deliver unique solutions to various end users and improve their business presence in the industry. The report is introduced with accurate statistics regarding market share, size, and growth rate for the buyers to focus on their operations and achieve various goals smoothly. Numerous driving factors, restraints, opportunities, and threats affecting the Bio Based Paraxylene market growth is described in the study for the strategy planners to plan policies pertaining to production volume, delivery of services, making connections, and creating awareness in the minds of consumers.

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Industry Dynamics:

► Bio-Based Paraxylene Market: Growth Drivers

* The growing use of bio-based PET products drives the market growth. Environmental and sustainability issues are being raised with package makers in several places. Several consumer goods makers choose to use eco-friendly packaging materials because they encourage environmental sustainability. The rising environmental concerns and the desire to limit pollution have resulted in a greater emphasis on environmental sustainability. The use of plastic and resins generated from renewable resources is being promoted in packaging. These considerations are likely to stimulate package suppliers to study and develop new materials, as well as include new eco-friendly designs that encourage the use of non-biodegradable materials as much as possible in packaging. As a result, they favor recyclable and biodegradable packing materials. Bioplastic packaging is more environmentally friendly than traditional plastic packaging. Bioplastic packaging uses less energy, is lighter in weight, and emits less CO2 than traditional plastic packaging. Moreover, bioplastic packaging materials allow consumer goods manufacturers to improve their brand image by lowering their carbon impact. Thus, the growing use of bio-based PET products drives the growth of the bio based paraxylene industry.

►Bio-Based Paraxylene Market: Restraints

* High cost limiting the market growth. Biodegradable plastics are great alternatives to traditional plastics because they have comparable material qualities to plastics and can be swiftly destroyed by microbes into CO2, water, or useable compost. Yet, as compared to standard plastics, the production costs of biodegradable polymers remain quite high, limiting their future possibilities. Moreover, many biodegradable polymers are petroleum-based, which may present issues such as resource use during the manufacturing process. Even today's basic ingredients for bio-based plastics are primarily taken from food crops, which may deplete precious agricultural resources. As a result, the existing biodegradable plastics business is in desperate need of novel, low-cost, and long-lasting substrates.

Prominent Key players of the Bio Based Paraxylene Market survey report:

Historical data available in the report elaborates on the development of the Bio Based Paraxylene on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Virent Inc., Renmatix Inc., Anellotech Inc., Origin Materials, GEVO, Avantium, BASF SE, Toray Industries Inc.

Industry News:
April 2021 - Maire Tecnimont, an Italian firm, announced an association of its subsidiaries Tecnimont and Tecnimont SpA had received an engineering, procurement, construction, and commissioning (EPCC) contract from Indian Oil Corporation (IOCL) worth USD 450 million to set up a Paraxylene plant in Paradip, Odisha.
January 2021 - Ineos, a leading petrochemical company, announced the completion of the purchase of global Aromatics and Acetyls businesses from BP for approximately USD5 Billion. The transaction was first revealed in late June 2020. The company states the acquisition will expand its geographic reach and portfolio. The businesses by Ineos will be named Ineos Aromatics and Ineos Acetyls.
In January 2021, INEOS acquired BP's global aromatics and acetyls business.
In August 2020, Indian Oil Corporation Limited planned to invest INR 13,805 crore in purified terephthalic acid (PTA) plant in Paradip of Odisha to manufacture raw materials for the textile sector.

Bio Based Paraxylene Market Segmentation:

Bio-Based Paraxylene Market by Source, 2023-2029, (USD Million)

»  Sugar Based Aromatics Stream

»  Isobutanol Source

Bio-Based Paraxylene Market by Application, 2023-2029, (USD Million)

»  Bio-Terephthalic Acid (BIO-TPA)

»  Bio-Based Polyethylene Terephthalate (BIO-PET)

»  Polytrimethylene Terephthalate (PTT)

»  Polybutylene Terephthalate (PBT)

Bio-Based Paraxylene Market by End-User, 2023-2029, (USD Million)

»  Food & Beverages

»  Packaging

»  Others

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Bio Based Paraxylene Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Bio Based Paraxylene industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Bio Based Paraxylene industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Bio Based Paraxylene Market Research Report 2023-2029

1 Bio Based Paraxylene Market Overview

1.1 Product Overview and Scope of Bio Based Paraxylene

1.2 Bio Based Paraxylene Segment by Type (Product Category)

1.3 Global Bio Based Paraxylene market Segment by Application

1.4 Global Bio Based Paraxylene Market by Region (2023-2029)

1.4.1 Global Bio Based Paraxylene Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Bio Based Paraxylene (2023-2029)

1.5.1 Global Bio Based Paraxylene Revenue Status and Outlook (2023-2029)

1.5.2 Global Bio Based Paraxylene Capacity, Production Status and Outlook (2023-2029)

…

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