DUBLIN--(BUSINESS WIRE)--The "Bio-PET Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The market for Bio-PET is expected to grow at a CAGR of over 11% during the forecast period of 2019-2024
One of the major factors driving the market studied is the growing GHG (Greenhouse Gases) emission concerns. However, development of PEF (Polyethylene Furanoate) is likely to restrain the market.
- Environmental factors that are encouraging a paradigm shift are also likely to boost the demand for Bio-PET during the forecast period.
- Focus toward renewable sources is likely to act as an opportunity for the market growth in future.
- Asia-Pacific dominated the market across the globe in 2018 closely followed by North America. Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Key Market Trends
Bottles Application to Dominate the Market
- Bottles are the major application for PET and bio-PET is expected to be used largely in the manufacture of these bottles in the future.
- The demand for these bottles, especially from soft drink manufacturers, like Pepsi Co. and Coca-Cola is expected to hugely boost the bio-PET market.
- These companies are actively spending huge resources in the manufacture of bio-PET bottles and are doing their part in order to protect the environment.
- Also, Bio-PET (Polyethylene Terephthalate) is made of sustainable raw materials and is deemed to be less harmful than PET bottles made of raw materials derived from crude oil.
- Owing to the above mentioned reasons, the bottles application is likely to dominate the market.
Asia-Pacific to Dominate the Market
- The Asia-pacific region is home to half of the population in the world and its consumption of PET bottles is on a huge scale.
- This region is expected to play a prominent role in the growth, in usage of bio-PET, as it massively helps for the wide-scale acceptance of bio-PET in multiple applications like textile, packaging etc.
- The high cost of bio-PET is a deterrent for its wide acceptance in this region due to the cost conscious nature of the consumer.
- Major manufacturers are focusing on lowering the price of bio-PET, and the success in lowering the prices hugely affects the market shift towards bio-PET.
- China owing to the staedy growth of its FMCG and packaging industries, accounts for the highest share of the market in the Asia-Pacific region.
- Hence, owing to the aforementioned reasons, Asia-Pacific is likely to dominate the Bio-PET market during the forecast region.
The market for Bio-PET market is partially consolidated as the majority of the market share is divided among a few players. Some of the key players in the bio-PET market include THE COCA-COLA COMPANY., Indorama Ventures Public Company Limited., Toyota Tsusho Corporation, and TORAY INDUSTRIES, INC., among others.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Environmental Factors Encouraging a Paradigm Shift
4.1.2 Growing GHG (Greenhouse Gases) Emission Concerns
4.2.1 Development of PEF (Polyethylene Furanoate)
4.2.2 Low Melting Point Hinders Usage in Some Applications
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1.3 Consumer Durables
5.1.6 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Toyota Tsusho Corporation
6.4.2 Far Eastern New Century
6.4.3 Indorama Ventures
6.4.4 Coca Cola Co.
6.4.5 Toray Industries Inc.
6.4.6 Plastipak Holdings
6.4.7 Ford Motors
6.4.8 Gevo Inc.
6.4.9 H.J. Heinz
6.4.10 Teijin Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Focus toward Renewable Sources
For more information about this report visit https://www.researchandmarkets.com/r/qfo4b