Report Overview

Global Bio-based Polyethylene Terephthalate Market - Industry Trends & Forecast Report 2028

Global Bio-based Polyethylene Terephthalate Market is projected to reach USD 12.4 billion by the year 2028, exhibiting a CAGR of 14.8% during 2022-2028. The market for bio-based polyethylene terephthalate is propelled by the material's better qualities than PET and commitment to the environment. Global demand for sustainable packaging solutions is increasing as a result of strict government requirements to reduce greenhouse gas emissions, which is anticipated to fuel market expansion over the coming several years. Due to the weight-saving and shatterproof characteristics displayed by bio-PET bottles, containers, sheets, etc., the demand for bio-PET is increasing in sectors like FMCG, electronics, and automotive, driving the market expansion during the forecast period (2022-2028).

Bio-based Polyethylene Terephthalate - Overview

Bio-based PET is a recyclable, biodegradable, compostable, and renewable bioplastic substance made from biomass. The substance is made up of 30% plant-derived ethanol glycol and 70% fossil-derived terephthalic acid (TPA). Moreover, PETE is often known as polyethylene terephthalate. Due to its great strength, adaptability, and recyclable nature, it is often utilized as a packaging material. Terephthalic acid and ethylene glycol, which are derived from plants like sugar cane and sugar beet through a thermo-chemical process, are used to make bio-based polyethylene terephthalate, a resin. Bio-based polyethylene terephthalate is widely used in the packaging of a variety of foods and beverages as well as in the automotive industry because of its environmentally beneficial characteristics, such as a reduction in GHG emissions and carbon footprint.

Global Bio-based Polyethylene Terephthalate Market Forecast and Trends

Growth Drivers

Demand for Eco-Friendly Products Has Increased

Over the anticipated period, a rising focus on environmentally friendly plastics is predicted to boost the market. Globally, there has been an increase in demand for items with lower carbon emissions, as well as an increase in the use of bio-friendly products. For the sake of sustainability across industries, governments have taken actions all around the world to reduce the usage of non-biodegradable plastic.

High Utilization in all Industries

Bio-based polyethylene terephthalate is widely used in the packaging of food goods, cosmetics, pharmaceuticals, soft drinks, alcoholic beverages, and edible oils due to its lightweight and biodegradable qualities. Additionally, it is employed in the manufacture of bottles, construction materials, packaged goods, electronics, and vehicle interiors. The market for bio-based polyethylene terephthalate (PET) is expected to continue to rise at a rapid rate due to the growing use of PET across a variety of end-use sectors. Additionally, it is anticipated that rising consumer preference for using green packaging further supports market expansion.

The Hazards of Conventional Plastics

Because conventional plastic contains multiple harmful chemical constituents, it is non-decomposable, limiting its use in several end-use applications. Harmful chemicals harm the environment, living things, and human health. Microplastics are increasingly providing a higher risk to terrestrial plants and animals, including humans. Demand for biodegradable plastic goods is increasing globally as a result of growing awareness about plastic pollution. As a result, the bio-based polyethylene terephthalate (PET) industry is projected to see higher demand.

Restraints

Existence of Alternatives

Additionally, polyethylene furanoate (PEF) is employed as a substitute for bio-based polyethylene terephthalate due to its stretchable strength and lightweight characteristics (PET). This element can negatively affect the expansion of the industry. Additionally, the use of polyethylene terephthalate in bottles for food and beverage packaging is restricted because the production of bio-based polyethylene terephthalate (PET) uses more staples than the production of bio-based polyethylene furoate (PEF). This hampers the growth of the Global Bio-based Polyethylene Terephthalate Market.

Impact of COVID-19 on Global Bio-based Polyethylene Terephthalate Market

The market for biobased polyethylene terephthalate (PET) suffered from the current coronavirus outbreak. The market has suffered significant financial setbacks as a result of the major interruptions in various manufacturing and supply-chain operations brought on by the various precautionary lockdowns imposed by governments to stop the spread of disease. The general economic condition of the majority of people has been severely damaged by the outbreak, therefore demand from consumers has reduced as they are now more focused on cutting non-essential expenses from their budgets. The aforementioned determinants are expected to consider the market's revenue trajectory over the projection period.

Global Bio-based Polyethylene Terephthalate Market - By Application

Based on the application, the Global Bio-based Polyethylene Terephthalate Market is segmented into Bottles, Foam, Pressure Sensitive Adhesive Tape, Substrate In thin Film Solar Cells, and Cosmetics. Among these, the bottles segment accounts for the largest share in the Global Bio-based Polyethylene Terephthalate Market. The most popular application for bio-derived PET is in bottles. This is because bio-derived PET is increasingly being used as a bottle packaging material. All these factors propel the growth of the Global Bio-based Polyethylene Terephthalate Market during a forecast period (2022-2028).

Global Bio-based Polyethylene Terephthalate Market – By End-User

Based on end-user, the Global Bio-based Polyethylene Terephthalate Market is segmented into Packaging, Consumer Goods, Automotive, and Semiconductor Electronics. Among these, the packaging segment holds the largest market share. The packaging segment held the largest market share until 2021 and is expected to maintain its dominance during the forecast period because bio-based polyethylene terephthalate is used in water packaging, sweet beverage packaging, fruit juice packaging, beer containers, food containers, and other applications. All these factors boost the growth of the Global Bio-based Polyethylene Terephthalate Market during the forecast period (2022-2028).

Global Bio-based Polyethylene Terephthalate Market - By Region

Based on sales outlets, the Global Bio-based Polyethylene Terephthalate Market is segmented into North America, Europe, Asia-Pacific, Latin America, and The Middle East and Africa. The Asia-Pacific region is anticipated to maintain its leading position in the market for bio-based PET during the forecasted period. During the projected period, it is also anticipated to increase at the fastest rate. Key businesses in China and India expanding their bio-derived PET production capacity are a significant factor driving market expansion in the area. Additionally, the high use of alcoholic beverages and carbonated soft drinks in the area fuels the industry.

Competitive Landscape

The leading market players in the Global Bio-based Polyethylene Terephthalate Market are Torey Industries, PlatiPak Holdings, Origin Materials, Metabolix, Braskem, Virent Inc, Avantium, Cocacola, PepsiCo, Anellotech.

The Global Bio-based Polyethylene Terephthalate Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• In August 2021, NatureWorks expanded its operations by investing USD 600 Million to build a plant for biopolymers in Thailand. With the help of this bigger plant, the company will be able to integrate its production rate and distribution channel.
• In February 2021, Coca-Cola, the world leader in the beverage industry, which also manufactures its plastic bottles, launched its new bottles which were made from rPET, the recycled PET which is 100% made from recycled PET. This step from Coca-Cola was taken by considering the sustainable operations of the company.

Scope of the Report

By Application

• Bottles
• Foam
• Pressure Sensitive Adhesive Tape
• Substrate In thin Film Solar Cells
• Cosmetics

By End-User

• Packaging
• Consumer Goods
• Automotive
• Semiconductor Electronics

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Bio-based Polyethylene Terephthalate  Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Bio-based Polyethylene Terephthalate  Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
         1. Bottles
         2. Foam
         3. Pressure Sensitive Adhesive Tape
         4. Substrate In thin Film Solar Cells
         5. Cosmetics
      2. By End-User
         1. Packaging
         2. Consumer Goods
         3. Automotive
         4. Semiconductor Electronics
      3. By Region
         1. North America
         2. Europe
         3. The Asia-Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Bio-based Polyethylene Terephthalate  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End-User
      3. By Country
         1. United States
         2. Canada
7. Europe Bio-based Polyethylene Terephthalate  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End-User
      3. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia-Pacific Bio-based Polyethylene Terephthalate  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End-User
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia-Pacific
9. Latin America Bio-based Polyethylene Terephthalate  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By End-User
      3. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East & Africa Bio-based Polyethylene Terephthalate  Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Application
       2. By End-User
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
12. Impact of Covid-19 on Global Bio-based Polyethylene Terephthalate Market
13. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Torey Industries
    2. PlatiPak Holdings
    3. Origin Materials
    4. Metabolix
    5. Braskem
    6. Virent Inc
    7. Avantium
    8. Cocacola
    9. PepsiCo
    10. Anellotech

14. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable

List Of Figures

Figure 1: Global Bio-based Polyethylene Terephthalate Market Segmentation

Figure 2: Global Bio-based Polyethylene Terephthalate Market Industry Value Chain Analysis

Figure 3: Global Bio-based Polyethylene Terephthalate Market Size, By Value (USD Million), 2018-2028

Figure 4: Global Bio-based Polyethylene Terephthalate Market Share (%), By Application, By Value, 2018-2028

Figure 5: Global Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 6: Global Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 7: Global Bio-based Polyethylene Terephthalate Market Share (%), By Region, By Value, 2018-2028

Figure 8: North America Bio-based Polyethylene Terephthalate Market Size, By Value (USD Million), 2018-2028

Figure 9: North America Bio-based Polyethylene Terephthalate Market Share (%), By Application, By Value, 2018-2028

Figure 10: North America Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 11: North America Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 12: North America Bio-based Polyethylene Terephthalate Market Share (%), By Country, By Value, 2018-2028 

Figure 13: Europe Bio-based Polyethylene Terephthalate Market Size, By Value (USD Million), 2018-2028

Figure 14: Europe Bio-based Polyethylene Terephthalate Market Share (%), By Application, By Value, 2018-2028

Figure 15: Europe Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 16: Europe Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 17: Europe Bio-based Polyethylene Terephthalate Market Share (%), By Country, By Value, 2018-2028

Figure 18: Asia-Pacific Bio-based Polyethylene Terephthalate Market Size, By Value (USD Million), 2018-2028

Figure 19: Asia-Pacific Bio-based Polyethylene Terephthalate Market Share (%), By Application, By Value, 2018-2028

Figure 20: Asia-Pacific Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 21: Asia-Pacific Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 22: Asia-Pacific Bio-based Polyethylene Terephthalate Market Share (%), By Country, By Value, 2018-2028

Figure 23: Latin America Bio-based Polyethylene Terephthalate Market Size, By Value (USD Million), 2018-2028

Figure 24: Latin America Bio-based Polyethylene Terephthalate Market Share (%), By Application, By Value, 2018-2028

Figure 25: Latin America Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 26: Latin America Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 27: Latin America Bio-based Polyethylene Terephthalate Market Share (%), By Country, By Value, 2018-2028

Figure 28: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Size, By Value (USD Million), 2018-2028

Figure 29: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Share (%), By Application, By Value, 2018-2028

Figure 30: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 31: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Share (%), By End-User, By Value, 2018-2028

Figure 32: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Share (%), By Country, By Value, 2018-2028

Figure 33: Global Bio-based Polyethylene Terephthalate Market Market Share Analysis, 2021

List Of Tables

Table 1: Global Bio-based Polyethylene Terephthalate Market Size, By Application, By Value (USD Million), 2018-2028

Table 2: Global Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 3: Global Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 4: Global Bio-based Polyethylene Terephthalate Market Size. By Region, By Value (USD Million), 2018-2028

Table 5: North America Bio-based Polyethylene Terephthalate Market Size, By Application, By Value (USD Million), 2018-2028

Table 6: North America Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 7: North America Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 8: 28 North America Bio-based Polyethylene Terephthalate Market Size (USD Million), By Country, By Value 2018-2028 

Table 9: Europe Bio-based Polyethylene Terephthalate Market Size, By Application, By Value (USD Million), 2018-2028

Table 10: Europe Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 11: Europe Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 12: 40 Europe Bio-based Polyethylene Terephthalate Market Size (USD Million), By Country, By Value 2018-2028 

Table 13: The Asia-Pacific Bio-based Polyethylene Terephthalate Market Size, By Application, By Value (USD Million), 2018-2028

Table 14: The Asia-Pacific Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 15: Asia-Pacific Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 16: 52 Asia-Pacific Bio-based Polyethylene Terephthalate Market Size (USD Million), By Country, By Value 2018-2028 

Table 17: Latin America Bio-based Polyethylene Terephthalate Market Size, By Application, By Value (USD Million), 2018-2028

Table 18: Latin America Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 19: Latin America Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 20: Latin America Bio-based Polyethylene Terephthalate Market Size (USD Million), By Country, By Value 2018-2028 

Table 21: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Size, By Application, By Value (USD Million), 2018-2028

Table 22: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 23: The Middle East & Africa Bio-based Polyethylene Terephthalate Market Size, By End-User, By Value (USD Million), 2018-2028

Table 24: 76 The Middle East & Africa Bio-based Polyethylene Terephthalate Market Size (USD Million), By Country, By Value 2018-2028 

Table 25: List of Key Players and Their Offerings

Table 26: Competitive Benchmarking, by Operating Parameters

Table 50        Torey Industries Company Overview

Table 51        Torey Industries Financial Overview

Table 52        PlatiPak Holdings Company Overview

Table 53        PlatiPak Holdings Financial Overview

Table 54        Origin Materials Company Overview

Table 55        Origin Materials Financial Overview

Table 56        Metabolix Company Overview

Table 57        Metabolix Financial Overview

Table 58        Braskem Company Overview

Table 59        Braskem Financial Overview

Table 60        Virent Inc Company Overview

Table 61        Virent Inc Financial Overview

Table 62        Avantium Company Overview

Table 63        Avantium Financial Overview

Table 64        Cocacola Company Overview

Table 65        Cocacola Financial Overview

Table 66        PepsiCo Company Overview

Table 67        PepsiCo Financial Overview

Table 68        Anellotech Company Overview

Table 69        Anellotech Financial Overview