Global Bio-Based Polyethylene Terephthalate Market To Be Driven By Food And Beverage Industry In The Forecast Period Of 2021-2026

ByIan Bell

The new report by Expert Market Research titled, ‘Global Bio-Based Polyethylene Terephthalate Market Size Report and Forecast 2021-2026’, gives in-depth analysis of the global bio-based polyethylene terephthalate market, assessing the market based on its segments like application, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026): –

  • Historical Market Size (2020): USD 560 Million
  • Forecast CAGR (2021-2026): 11%
  • Forecast Market Size (2026): USD 1074 Million

Its eco-friendly design and superior properties than PET drive the global bio-based polyethylene terephthalate market. The demand for sustainable packaging solutions worldwide, which is expected to strengthen market growth over the next few years, is driven by strict government regulations to control greenhouse gas emissions. In industries such as FMCG, electronics and automotive, demand for bio-PET is growing due to the weight reduction and shatterproof properties demonstrated by bio PET bottles, containers, sheets, etc., thus propelling market growth through 2026.

Industry Definition and Major Segments

Bio-based PET is basically composed of terephthalic acid (PTA) and monoethylene glycol (MEG) and is bio-degradable. It is commonly used, primarily in the food and beverage and automotive industries, for the manufacture of different packaging solutions. In producing bottles, baked goods, car interiors, and building products, it also has myriad applications.

The product finds wide applications in the following:

  • Bottles
  • Sheet and Foam
  • Carry Bags and Pouches
  • Pressure Sensitive Adhesive Tape
  • Others

The end-uses of the product include the following:

  • Food Industry
  • Beverage
  • Consumer Goods
  • Automotive
  • Pharmaceuticals
  • Others

Based on Region, the market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growth of the market for bio-based PET is mainly driven by the demand for its application in the food and beverage industry for different packaging solutions and the strict regulatory framework for reducing carbon emissions in major regions. In addition, the increase in government policies to encourage the use of bio-based and biodegradable products in different countries has spurred demand for bio-based PET materials. In addition, it is expected that the implementation of new manufacturing technologies and advanced chemical and materials research will fuel the demand across major regions. The prominent markets for bio-based PET materials are Europe and North America. The demand growth in North America is expected to be powered by technological advances combined with the increase in customer inclination towards green packaging. The regions are expected to demonstrate promising growth prospects due to favourable government regulations and cost-effective manufacturing processes in Asia Pacific and South America.

Explore the Full Report  with TOC: https://www.expertmarketresearch.com/reports/bio-based-polyethylene-terephthalate-market

Key Market Players

The major players in the market are Toray Industries, Inc., Toyota Tsusho Corporation, Braskem Inc., Virent Inc, The Coca-Cola Company and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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