DUBLIN--(BUSINESS WIRE)--The "Bio-Based Polyethylene Terephthalate Market by Application, by Industry, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The market growth is mainly driven by growing demand for bioplastics, increasing research and development (R&D) activities by key players in the packaging industry, and rising environmental issues caused by synthetic PET products.
On the basis of application, the bio-based PET market is categorized into bottles, bags, 3D printing, cosmetic containers, and others. Other applications include trays, blister packs, carpets, sanitary products, and foils. In terms of volume, bottles are expected to be the fastest-growing application in the market, registering a CAGR of 13.7% during the forecast period. This can be attributed to the growing R&D investments by key players for the development of 100% bio-based PET bottles.
Based on industry, the packaging industry contributed the largest share in the market during the historical period and is estimated to account for more than 75% share in terms of volume and more than 70.0% share in terms of value in the market in 2017. This can be attributed to the high demand for bioplastics from the packaging industry for bottles, organic food, and premium products.
Governments of various countries have imposed strict regulatory norms to reduce GHG emissions. Thus, government efforts to curb GHG emissions can be viewed as a factor creating lucrative growth opportunities for the players manufacturing sustainable products, such as PET, in the bio-based PET market.
Market Dynamics
Trends
- Surge in Strategic Alliances by Key Players in the Market
Drivers
- Growing Demand for Bioplastics
- High R&D Investments by Key Players in the Packaging Industry
- Increasing Environmental Issues Caused by Synthetic PET Products
- Impact Analysis of Drivers on Market Forecast
Restraints
- High Costs of Bio-Based Materials
- Impact Analysis of Restraints on Market Forecast
Opportunities
- Regulations Imposed by Governments to Reduce Greenhouse Gas (GHG) Emissions
Key Topics Covered
1. Research Background
2. Research Methodology
3. Executive Summary
4. Introduction
5. Global Market Size and Forecast
6. North America Market Size and Forecast
7. Europe Market Size and Forecast
8. APAC Market Size and Forecast
9. LATAM Market Size and Forecast
10. MEA Market Size and Forecast
11. Competitive Landscape
12. Company Profiles
- The Coca-Cola Company
- M&G Chemicals SA
- Origin
- PepsiCo Inc.
- Braskem
- Toyota Tsusho Corporation
- Teijin Limited
- Ford Motor Company
For more information about this report visit https://www.researchandmarkets.com/research/2hxr7j/biobased?w=4
