Bio-Based PET Market – Know the Untapped Growth Opportunities to 2030
Research Reports
Feb 03, 2022
Bio-Based PET Market Overview
Bio-Based Polyethylene Terephthalate (PET) is produced from ethylene glycol that is obtained from plants. These plant sources include non-toxicity, recyclability, reduced carbon footprint, and high resistance to shattering. Market Research Future (MRFR) has reported that the Bio-Based PET Market is anticipated to expand at a significant rate through the conjecture period.
The major factor driving the bio-based PET market is the increasing adaption of eco-friendly bio-based products to protect the environment and human health. Other factors include the fluctuating cost of the petroleum-based and related products, growing awareness about the hazardous nature of conventional plastics, government incentives to encourage the use of eco-friendly products, government regulations regarding environmental protection, and rising demand for eco-friendly packaging in various end-use industries such as automotive, consumer appliances, electrical & electronics, & food & beverage.
Get Free Sample PDF Brochure – https://www.marketresearchfuture.com/reports/bio-based-pet-market-5823
Key Players
The key players in the global bio-based PET market include Amyris (USA), Anellotech, Inc. (the USA), Braskem (Brazil), Gevo, Inc. (the USA), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy), NatureWorks LLC (USA), Novamont SPA (Italy), Plastipak Holdings, Inc. (the USA), TEIJIN LIMITED (Japan), TORAY INDUSTRIES, INC. (Japan), and Toyota Tsusho Corporation (Japan).
The global bio-based PET market has been segmented on the basis of application, raw material source, and region. Based on application, this market has been segmented into automotive, bottles, consumer goods, electronics, and others. As per raw material source, the market has been segmented into corn, sugar, and molasses.
The regional segmentation of the global bio-based PET market segments the market into continent-based regional markets known as Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa (MEA). North America is the leading regional market because many key players in the market of manufacturing and selling PET bottles, consumer goods, and others are based in the United States of America (USA), the strongest economy in this region. In North America, the automotive sector of USA and Canada has the highest demand for a bio-based PET. In Latin America, the market may not as big as North America, but it is stable. The primary country-specific markets in this region are Argentina, Brazil, and Mexico, followed by the rest of Latin America.
Speak to Analyst –https://www.marketresearchfuture.com/ask_for_schedule_call/5823
According to the report, the Asia Pacific is the fastest growing regional market during the forecast period. The reasons for market growth include raw material availability, low-cost production, and industrial growth in this region. The production and exports of automotive and consumer goods in developing countries such as China and India have resulted in market growth. Other important country-specific markets in this region are Australia, Japan, and New Zealand, followed by the rest of the Asia Pacific region.
In Europe, the market is growing due to the rising demand from automotive industries in Western European countries such as France, Germany, and the United Kingdom (UK). Other important country-specific markets in this region include Italy, Poland, Russia, and Spain. In the MEA region, the demand for a bio-based PET is majorly driven by the growing environment safety issues and the rapid industrialization in this region. The most significant country-specific markets in this region are Bahrain, Israel, Kuwait, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and United Arab Emirates (UAE), followed by the rest of MEA region.
Enquire For Discount https://www.marketresearchfuture.com/check-discount/5823
Latest Industry News
· PepsiCo has joined the NaturALL Bottle Alliance, a research consortium that was started last year by Danone, Nestlé Waters, and a startup called Origin Materials to develop packaging made with 100% sustainable and renewable resources. This partnership aims to create bio-based beverage containers with lower carbon footprints.
· Anellotech is collaborating with strategic partners Axens, IFPEN, Johnson Matthey, Suntory, Toyota Tsusho, and for the development and commercialization of the Bio-TCat Process which consists of non-food biomass such as agricultural residues or wood.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
High-Performance Polyester Market https://www.marketresearchfuture.com/reports/high-performance-polyester-market-4073
Styrene Acrylic Emulsion Polymer Market https://www.marketresearchfuture.com/reports/styrene-acrylic-emulsion-polymer-market-4108
Hydrogenated Styrene Block Copolymers Market https://www.marketresearchfuture.com/reports/hydrogenated-styrene-block-copolymers-market-4095
Adhesives & Sealants Market https://www.marketresearchfuture.com/reports/adhesives-sealants-handheld-devices-market-3865
Contact Information:
Contact: Market Research Future® 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Phone: +1 628 258 0071(US) +44 2035 002 764(UK) email: sales@marketresearchfuture.com
Tags:
PR-Wirein, Wire, Research Newswire, English