Global Bio-based PET Market Insights and Forecast to 2027

Bio-based PET is basically composed of monoethylene glycol (MEG) and terephthalic acid (PTA) and is biodegradable. It is widely used in the production of a variety of packaging solutions, mainly used in the food and beverage industry and the automotive industry. It also has numerous applications in making bottles, packaged goods, car interiors and building materials. The emergence of biodegradable bioplastics in manufacturing and packaging solutions has provided a strong impetus for the development of the bio-based PET market. An increasing number of eco-friendly products tend to use bio-friendly products among consumers around the world, as well as strict environmental regulations that promote the use of environmentally friendly products in all industries, leading to a strong demand for Bio-based PET materials.
For the production and consumption of Bio-based PET, the global consumption distribution is mainly focused in the areas of Asia-Pacific, which is expected to take up about 41.42% of the market share in 2018. The top three companies in the industry are Toray Industries, Plastipak Holdings, and Teijin, which account for nearly 30% of the market share. The industry is a monopolistic competitive market. Bio-based PET is used in Packaging Industry, Automotive Industry, Electronics Industry, Textile Industry, etc. In 2018, Packaging Industry accounted for a major share of 67.67% the global Bio-based PET market, the revenue of this segment is 578.03 million USD in 2018.

Market Analysis and Insights: Global Bio-based PET Market
The global Bio-based PET market is valued at US$ 1745.1 million in 2019. The market size will reach US$ 3169.8 million by the end of 2026, growing at a CAGR of 8.8% during 2021-2026.

Global Bio-based PET Scope and Segment
Bio-based PET market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Bio-based PET market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2016-2027.


Segment by Type
Bio-based PET Bottles
Bio-based PET Fibers
Bio-based PET Films
Others
Bio-based PET Bottles have largest market share about 66%.


Segment by Application
Packaging Industry
Automotive Industry
Electronics Industry
Textile Industry
Others
Bio-based PET is most used in the packaging industry, at nearly 70%.


By Company
Toray Industries
Plastipak Holdings
Indorama Ventures
Teijin
Anellotech
Far Eastern New Century
Toyota Tsusho
Coca-Cola

Production by Region
North America
China
Japan
Southeast Asia

Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E