Global Bio-Based Polyethylene Terephthalate (PET) Packaging Market, By Raw Material (Sugar, Molasses, Corn), Application (Bottles, Consumer Goods, Automotive, Electronics, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Bio-Based Polyethylene Terephthalate (PET) Packaging Market
The bio-based polyethylene terephthalate (PET) packaging market is expected to witness market growth at a rate of approximately 7.0% in the forecast period of 2021 to 2028, and will reach the value of USD 25,000 million by 2028. Data Bridge Market Research report on bio-based polyethylene terephthalate (PET) packaging market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in packaging sector globally is escalating the growth of bio-based polyethylene terephthalate (PET) packaging market.
The bio-based polyethylene terephthalate (PET) refers to the type of material that is made up of monoethylene glycol (MEG) and terephthalic acid (PTA), and is considered bio-degradable. It is widely utilized for the production of various packaging solutions, especially in sectors such as food and beverages and automotive industries. The material is also used in making bottles, automotive interiors, construction materials and automotive interiors.
The advent of bioplastics that are biodegradable in manufacturing packaging solutions across the globe acts as one of the major factors driving the growth of bio-based polyethylene terephthalate (PET) packaging market. The increase in eco-friendly inclination toward the use of bio-friendly products, and rise in government initiatives in different countries to promote the use of bio-based and biodegradable materials accelerate the market growth. The high usage of the material in bottles, packaged goods, automotive interiors, construction goods, and electronics, and development of PEF, which has high glass transition temperature and thermal stability as compared to bio-based PET further influence the market. Additionally, rise in spending on food and beverages, rise in consciousness towards environment, urbanization, and improved lifestyle positively affect the bio-based polyethylene terephthalate (PET) packaging market. Furthermore, technological advancements, and product offerings, extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, the irregularity in the supply of feedstock is expected to obstruct the market growth. Limited land for cultivation of sugarcane and corn is projected to challenge the bio-based polyethylene terephthalate (PET) packaging market in the forecast period of 2021-2028.
This bio-based polyethylene terephthalate (PET) packaging market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on bio-based polyethylene terephthalate (PET) packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Bio-Based Polyethylene Terephthalate (PET) Packaging Market Scope and Market Size
The bio-based polyethylene terephthalate (PET) packaging market is segmented on the basis of raw material and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of raw material, the bio-based polyethylene terephthalate (PET) packaging market is segmented into sugar, molasses and corn.
- On the basis of application, the bio-based polyethylene terephthalate (PET) packaging market is segmented into bottles, consumer goods, automotive, electronics and others.
Bio-Based Polyethylene Terephthalate (PET) Packaging Market Country Level Analysis
The bio-based polyethylene terephthalate (PET) packaging market is analysed and market size, volume information is provided by country, raw material and application as referenced above.
The countries covered in the bio-based polyethylene terephthalate (PET) packaging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the bio-based polyethylene terephthalate (PET) packaging market due to the growing awareness regarding the importance of bioplastics in developed countries including Japan and South Korea. North America is expected to witness fastest growth during the forecast period of 2021 to 2028 because of the growing concern toward green or sustainable packaging in the region.
The country section of the bio-based polyethylene terephthalate (PET) packaging market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bio-Based Polyethylene Terephthalate (PET) Packaging Market Share Analysis
The bio-based polyethylene terephthalate (PET) packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to bio-based polyethylene terephthalate (PET) packaging market.
The major players covered in the bio-based polyethylene terephthalate (PET) packaging market report are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, JBF Industries Ltd, LOTTE Chemical CORPORATION, Far Eastern New Century Corporation, China Petrochemical Corporation., SABIC, Reliance Industries Limited., RTP Company, Vikas Ecotech Ltd., TEIJIN LIMITED, Hitachi, Ltd., NEO GROUP, UAB; DuPont de Nemours, Inc., Filatex India Limited, Polyplex, Retal Industries LTD., Persian Gulf Petrochemical Industries Co., the Mitsubishi Chemical Advanced Materials group of companies and Verdeco Recycling, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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