Bio Based Polyethylene Terephthalate (PET) Market Analysis

Bio Based Polyethylene Terephthalate Market Analysis

Bio based polyethylene terephthalate market size from bottling application, should register over USD 10.5 billion by 2023. Increasing food & beverage consumption in BRICS along with initiatives taken by companies to encourage green technology should boost packaging applications which would drive bio based PET market size.
 

Bio based PET market size from technical application should gain above 35% by 2023. Light weight and high shatter resistance are main characteristics to encourage bio PET market size in manufacturing external and interior technical parts.
 

Bio based polyethylene terephthalate is used in the form of foams, sheets and fabrics for electronics and technical applications. European and U.S. commission including Euro Standards (I, II and III) and CAFE set norms to progress fuel efficiency in vehicles which should drive bio based PET market size. Increase preferences for light weighted materials in technical application to enhance automobile performance should encourage product demand.

North America, led by the U.S. bio based PET market size, is foreseen to witness gain at over 40% by 2023. Increasing green packaging demand and new technological innovations to influence regional product demand.
 

APAC, dominated by Japan, India and China bio based PET market size, was above 150 kilo tons in 2015. Rise in alcohol beverages and fizzy soft drinks consumption should drive bio polyethylene terephthalate market size.
 

Latin America, led by Brazil bio based PET market size, would exceed USD 1.5 billion by 2023. LATAM has a benefit of Brazil based sugarcane cultivation, which may promote regional industry growth.