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Bio Based PET Market

The worldwide bio based PET market stood (in volume terms) at nearly 496 kilo tons in 2015. The market is expected to grow at a CAGR over 42% during the forecast period (2016 to 2024)
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Bio based PET Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2024 | Hexa Research
"The global bio based PET market, in volume terms
stood at 496 kilo tons in 2015. It is expected to grow
(in terms of volume) at a CAGR over 42% during the
forecast period."
15 March 2019, The worldwide Bio Based PET Market stood (in volume terms) at nearly 496 kilo tons in 2015.
The market is expected to grow at a CAGR over 42% during the forecast period (2016 to 2024). Greater
awareness among consumers and stringent environmental regulations to promote eco-friendly products can
drive the industry. The emergence of bioplastics as a substitute in packaging & automotive industries can
catapult market growth. Unstable crude oil prices and heightened concerns regarding greenhouse gas (GHG)
emissions may promote the demand for bio based polyethylene terephthalate (PET) products.
Bio based PET are biodegradable products made from monoethylene glycol (MEG) and terephthalic acid (PTA).
MEG is a product derived from sugarcane ethanol and purified PTA. Bioplastics are used to make cups, bottles,
bags, carpets, furniture, films, and other packaging materials. The wastes from these materials emit around 3070% less carbon dioxide than most conventional plastics.
The global bio based PET market is divided into applications and regions. Applications include technical
(automotive & electronics), consumer goods, and packaging (bottles), and other packaging. The packaging
goods segment held the largest share exceeding 75% of the total market shares in 2013. The product is mainly
used for packing carbonated soft drinks. Surging consumption of beverages may positively affect market
demand in the forecast period.
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Technical applications could witness robust growth due to demand for lightweight materials in automotives.
Sustainable polyethylene terephthalates weigh less, which makes them ideal for automotive exteriors. Use of
these materials by companies, like Nissan, Toyota Motors, and AT&T can propel demand for the product by
Regions in the global bio based PET market are North America, Europe, Asia Pacific, and Rest of the World
(ROW). In 2015, Asia Pacific dominated the global market. This was because of high consumption of alcoholic
beverages and carbonated soft drinks in India and China. This trend is projected to continue till 2024.
Initiatives taken by the Australian Packaging Covenant (APC) to promote sustainable packaging can impel
market growth. Europe may witness substantial growth due to the European Commission’s (EC) initiative to
promote bio based products. The EC aims at reducing the use of chemical based products and lowering GHG
The United States government passed a Federal Farm bill urging federal agencies to adopt sustainable
materials. This is likely to boost the bio based PET market till 2024. North America could grow at around 41%
CAGR during the forecast period. Emphasis on eco-friendly packaging can drive this market.
Major competitors in the global bio based PET market are the Coca-Cola Company, Toray Industries, Toyota
Tsusho, and M&G Chemicals. Companies, such as Virent and Anellotech are working on developing bio based
PTA. Toray Industries and the Coca-Cola Company have entered business collaborations with manufacturers of
bio based products. The Coca-Cola Company markets its bio-PET bottles under the name ‘PLANTBOTTLE’. Other
brands in the market comprise PLANT FIBER and GLOBIO. Companies like Ford Motors, The Coca Cola Company,
Proctor & Gamble, Heinz & Co., have signed Plant polyethylene terephthalate Technology Collaborative in order
to manufacture and use 100% bio based PET products.
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Table of Content of Bio based PET Market
1. Methodology & Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
2. Executive Summary
2.1 Industry Summary of Bio based PET Market
3. Industry Outlook
3.1 Bio based PET Market Segmentation
3.2 Bio based PET Market Size and Growth Prospects
3.3 Bio based PET Market Dynamics
3.4 Key Opportunities Prioritized
3.5 Industry Analysis - Porter's
3.6 Market Share Analysis
3.7 Market PESTEL Analysis, 2016
4. Application Framework
4.1 Bio based PET Market share by application, 2016 & 2024
5. Regional Outlook
5.1 North America
5.2 Europe
5.3 Asia Pacific
5.4 Latin America
5.5 MEA (Middle East and Africa)
5.6 RoW (Rest of the World)
6. Competitive Landscape
6.1 Coca-Cola Company
6.1.1 Company Overview
6.1.2 Revenue Analysis
6.1.3 Product Benchmarking
6.1.4 Strategic Initiatives
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6.2 Toray Industries
6.2.1 Company Overview
6.2.2 Revenue Analysis
6.2.3 Product Benchmarking
6.2.4 Strategic Initiatives
6.3 Toyota Tsusho
6.3.1 Company Overview
6.3.2 Revenue Analysis
6.3.3 Product Benchmarking
6.3.4 Strategic Initiatives
6.4 M&G Chemicals
6.4.1 Company Overview
6.4.2 Revenue Analysis
6.4.3 Product Benchmarking
6.4.4 Strategic Initiatives
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Hexa Research is a market research and consulting organization, offering industry reports, custom research
and consulting services to a host of key industries across the globe. We offer comprehensive business
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