Press release
Bio Based Polyethylene Terephthalate Market to Develop Rapidly by 2025
Polyethylene Terephthalate is a resin, which is made by the combination of two monomers, purified terephthalic acid and modified Ethylene Glycol, to form a polymer called Polyethylene Terephthalate by esterification reaction. It is mainly used in production of synthetic fibres, bottles, etc. It is tough and temperature resistant. The main difference between PET and Bio based PET is that the former uses non-biodegradable material in formation of PET and latter uses biodegradable material for producing the resultant polymer.
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Bio-based Polyethylene Terephthalate is composed of MEG, (monoethylene glycol) a product of sugarcane ethanol, and purified PTA (terephthalic acid), a chemical-based product of crude oil. Bio based polyethylene terephthalate, due to its lightweight and bio degradable nature, is used in packaging of food products, soft drinks, alcoholic beverages, cosmetics, pharmaceutical products and edible oils. Bio based polyethylene terephthalate is also used in production of automotive interiors, bottles, construction goods, packaged goods and electronics. The increasing inclination towards the use of eco-friendly products across the globe and strict environmental regulations to promote the use of bio-friendly products in industries have resulted in increase in demand for bio based Polyethylene Terephthalate materials.
Advancement in manufacturing technology and the rate at which success is gained in Research and Development sector in Chemical and Materials domain across the major regions of Bio-based Polyethylene Terephthalate market is expected to fuel the Bio based PET consumption.
Bio based Polyethylene Terephthalate Market: Dynamics
The growth of Bio based Polyethylene Terephthalate market is expected to be geared up due to its increasing demand in various industries such as food & beverages, and stringent regulatory framework to reduce carbon emission. Accelerated with this, the government initiatives to promote the use of biodegradable products has given rise to the use of Bio based Polyethylene Terephthalate materials. Furthermore, advancement in technology & research and shifting focus towards the use of green plastics is expected to fuel the growth of Bio based Polyethylene Terephthalate market.
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Chiefly due to the lightweight and biodegradable nature of Bio based Polyethylene Terephthalate, the market is expected to fuel the automotive, bottling and packaging industry. European and the U.S Commission have set norms to improve the vehicle efficiency and it is expected that Bio based Polyethylene Terephthalate market will expand as Bio based Polyethylene Terephthalate materials are of lightweight.
Bio based Polyethylene Terephthalate Market: Segmentation
The global market of Bio based Polyethylene Terephthalate can be segmented on the basis of end use industry as:
Packaging
Consumer goods
Automotive
Semiconductor Electronics
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The global market of Bio based Polyethylene Terephthalate can be segmented on the basis of application as:
Bottles
Foam
Pressure sensitive adhesive tape
Substrate in thin film solar cells
Cosmetics
Bio based Polyethylene Terephthalate Market: Regional Outlook
Bio based production is a key priority in the European Commission, which is forecasted to increase the market share of Bio based PET materials. Rise in consumer preference towards the use of green packaging combined with technological advancement is forecasted to propel the market expansion of North America.
Japan, Canada & Australia have adopted Kyoto protocol, which restricts synthetic polyethylene terephthalate usage, because it causes GHE (Green House Emission). These norms could aid develop Bio based Polyethylene Terephthalate market. Latin America would be benefited due to high amount of sugar cultivation in Brazil, which is expected to fuel the Bio based Polyethylene Terephthalate Market.
Increasing awareness towards the use of more green material in comparison to synthetic derived polymer goods is projected to bolster the market of Bio based Polyethylene Terephthalate material in Asia Pacific Region including Japan and South Korea.
Bio based Polyethylene Terephthalate: Market Participants
Some of the examples of the market players in the global Bio based Polyethylene Terephthalate market are:
Torey Industries
PlastiPak Holdings
Origin Materials
Metabolix
Braskem
Virent Inc
Avantium
CocaCola
PepsiCo
Anellotech
Draths Corporation
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes:
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Detailed overview of parent market
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In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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