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Asia Pacific Bio-Based Polyethylene Terephthalate Market: By Application: Bottles, Textile Fabrics, Sheet and Foam, Film and Adhesive Tapes, Others; By End Use: Beverages, Food Industry, Textile, Automotive, Pharmaceuticals; By Distribution Channels: Direct, Indirect; Regional Analysis; Competitive Landscape; 2024-2032
Asia Pacific bio-based polyethylene terephthalate market Outlook
The Asia Pacific bio-based polyethylene terephthalate market size is expected to grow at a CAGR of 12.10% during the forecast period of between 2024 and 2032, owing to the growing emphasis on eco-friendly plastics.
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Key Trends in the Market
A resin known as polyethylene terephthalate is produced by esterifying a mixture of two monomers—distilled terephthalic acid and modified ethylene glycol—polyethylene terephthalate. MEG (monoethylene glycol), a sugar cane ethanol product, and distilled PTA (terephthalic acid), a crude oil-based chemical product, are combined to create bio-based polyethylene terephthalate.
- Over the forecast time period, a rising focus on environmentally friendly plastics is predicted to drive the market. Globally, the demand for items with lower carbon emissions and the use of more environmentally friendly products have grown, thus propelling the Asia Pacific bio-based polyethylene terephthalate market. Initiatives by governments in the region, to promote the use of biodegradable products, have led to the usage of polyethylene terephthalate materials derived from biological sources.
- Due to its light weight and biodegradable properties, bio-based polyethylene terephthalate is frequently used in the packaging of food products, soft drinks, cosmetics, alcoholic beverages, pharmaceuticals, and edible oils. It is also used in the production of bottles, packaged goods, building materials, electronics, and car interiors. The Asia Pacific bio-based polyethylene terephthalate market will continue to expand at a rapid rate due to the growing use of bio-based polyethylene terephthalate (PET) across a variety of end uses.
- Conventional plastic is non-decomposable due to the presence of various harmful chemical components, which restricts its use in a range of end use applications. The environment, living creatures, and human health are all harmed by harmful chemicals. The danger posed by the microplastics to land-based plants and animals, including people, has increased. Global demand for biodegradable plastic goods is rising as a result of the growing concern over plastic pollution. Consequently, the demand for bio-based polyethylene terephthalate (PET) will rise.
Market Analysis
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Based on application, the Asia Pacific bio-based polyethylene terephthalate market is segmented into bottles, textile fabrics, sheet and foam, and film and adhesive tapes, among others. The market on the basis of end use can be divided into beverages, food industry, textile, automotive, and pharmaceuticals, among others. Based on distribution channels, the market is bifurcated into direct and indirect. On the basis of country, the bio-based polyethylene terephthalate market in the Asia Pacific is divided into are China, Japan, India, South Korea, Taiwan, and Australia, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Asia Pacific bio-based polyethylene terephthalate market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Teijin Limited
- Indorama Ventures
- Braskem
- FKuR Kunststoff GmbH
- Toray Industries, Inc.
- Far Eastern New Century Corporation
- Others
Market Share by Application
With the increased beverage consumption in emerging nations in the Asia Pacific, the bottles application of the regional bio-based polyethylene terephthalate market segment is anticipated to grow at a significant CAGR over the forecast period. Beer, wine, and other alcoholic beverages, as well as carbonated soft drinks (CSD), are packaged in bottles. Further, the demand for PET bottles made from bio-based materials is being fuelled by the growing acceptance of sustainable packaging materials as a means of lowering carbon emissions, thus aiding the Asia Pacific bio-based polyethylene terephthalate market.
Bio-based PET bottles may be moulded into a variety of shapes thanks to their flexibility, which enhances both their aesthetics and practicality. PET bottles with specialised forms, colours, and designs are becoming more and more popular as manufacturers strive to differentiate their brands from competitors.
Market Share by End Use
The Asia Pacific bio-based polyethylene terephthalate market is predicted to expand due to rising demand in a number of sectors, including the food and beverage industry. The food and beverage industry in China is growing as a result of higher living standards. As a result, packed, ready-to-cook, and ready-to-eat food as well as a variety of beverages are in higher demand.
Bio-based polyethylene terephthalate is projected to maintain its dominance in the food and beverage industries in the Asia Pacific during the forecast period. This can be attributed to its usage in applications such as beer containers, food containers, fruit juice packaging, water packaging, and other applications.
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Competitive Landscape
Teijin Limited is a Japanese chemical, pharmaceutical, and IT corporation established in 1918 with its headquarters in Japan. Some of its primary business sectors are high-performance fibres like aramid, polyester fibres, carbon fibres, composites, resin processing, healthcare, films, product conversion, and IT goods.
Indorama Ventures has its corporate headquarters in Thailand and manufactures and sells petrochemical products. It operates through the following divisions: feedstock, fibre and yarns, and polyethylene terephthalate. The PET section makes plastic food packaging and containers.
Braskem, with its headquarters in Brazil, is currently the biggest producer of thermoplastic resins and polypropylene in the Americas and also the biggest producer of the material in the United States. It is primarily focused on polyethylene, polypropylene, and polyvinyl chloride as well as fundamental ingredients like ethylene, toluene, propylene, soda, butadiene, benzene, chlorine, and solvents.
Other market players include FKuR Kunststoff GmbH, Toray Industries, Inc., and Far Eastern New Century Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Distribution Channels |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Bio-Based Polyethylene Terephthalate Market Overview
8.1 Key Industry Highlights
8.2 Global Bio-Based Polyethylene Terephthalate Historical Market (2018-2023)
8.3 Global Bio-Based Polyethylene Terephthalate Market Forecast (2024-2032)
9 Asia Pacific Bio-Based Polyethylene Terephthalate Market Analysis
9.1 Key Industry Highlights
9.2 Asia Pacific Bio-Based Polyethylene Terephthalate Historical Market (2018-2023)
9.3 Asia Pacific Bio-Based Polyethylene Terephthalate Market Forecast (2024-2032)
9.4 Asia Pacific Bio-Based Polyethylene Terephthalate Market by Application
9.4.1 Bottles
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2023)
9.4.1.3 Forecast Trend (2024-2032)
9.4.2 Textile Fabrics
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2023)
9.4.2.3 Forecast Trend (2024-2032)
9.4.3 Sheet and Foam
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2023)
9.4.3.3 Forecast Trend (2024-2032)
9.4.4 Film and Adhesive Tapes
9.4.4.1 Market Share
9.4.4.2 Historical Trend (2018-2023)
9.4.4.3 Forecast Trend (2024-2032)
9.4.5 Others
9.5 Asia Pacific Bio-Based Polyethylene Terephthalate Market by End Use
9.5.1 Beverages
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2023)
9.5.1.3 Forecast Trend (2024-2032)
9.5.2 Food Industry
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2023)
9.5.2.3 Forecast Trend (2024-2032)
9.5.3 Textile
9.5.3.1 Market Share
9.5.3.2 Historical Trend (2018-2023)
9.5.3.3 Forecast Trend (2024-2032)
9.5.4 Automotive
9.5.4.1 Market Share
9.5.4.2 Historical Trend (2018-2023)
9.5.4.3 Forecast Trend (2024-2032)
9.5.5 Pharmaceuticals
9.5.5.1 Market Share
9.5.5.2 Historical Trend (2018-2023)
9.5.5.3 Forecast Trend (2024-2032)
9.5.6 Others
9.6 Asia Pacific Bio-Based Polyethylene Terephthalate Market by Distribution Channels
9.6.1 Direct
9.6.1.1 Market Share
9.6.1.2 Historical Trend (2018-2023)
9.6.1.3 Forecast Trend (2024-2032)
9.6.2 Indirect
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2018-2023)
9.6.2.3 Forecast Trend (2024-2032)
9.7 Asia Pacific Bio-Based Polyethylene Terephthalate Market by Country
9.7.1 China
9.7.1.1 Market Share
9.7.1.2 Historical Trend (2018-2023)
9.7.1.3 Forecast Trend (2024-2032)
9.7.2 Japan
9.7.2.1 Market Share
9.7.2.2 Historical Trend (2018-2023)
9.7.2.3 Forecast Trend (2024-2032)
9.7.3 India
9.7.3.1 Market Share
9.7.3.2 Historical Trend (2018-2023)
9.7.3.3 Forecast Trend (2024-2032)
9.7.4 South Korea
9.7.4.1 Market Share
9.7.4.2 Historical Trend (2018-2023)
9.7.4.3 Forecast Trend (2024-2032)
9.7.5 Taiwan
9.7.5.1 Market Share
9.7.5.2 Historical Trend (2018-2023)
9.7.5.3 Forecast Trend (2024-2032)
9.7.6 Australia
9.7.6.1 Market Share
9.7.6.2 Historical Trend (2018-2023)
9.7.6.3 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Teijin Limited
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Indorama Ventures
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Braskem
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 FKuR Kunststoff GmbH
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Toray Industries, Inc.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Far Eastern New Century Corporation
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Bio-Based Polyethylene Terephthalate Market: Key Industry Highlights (USD Million), 2018 and 2032
2. Asia Pacific Bio-Based Polyethylene Terephthalate Market: Key Industry Highlights (KMT), 2018 and 2032
3. Asia Pacific Bio-Based Polyethylene Terephthalate Market: Key Industry Highlights (USD Million), 2018 and 2032
4. Asia Pacific Bio-Based Polyethylene Terephthalate Historical Market: Breakup by Application (USD Million), 2018-2023
5. Asia Pacific Bio-Based Polyethylene Terephthalate Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Asia Pacific Bio-Based Polyethylene Terephthalate Historical Market: Breakup by End Use (USD Million), 2018-2023
7. Asia Pacific Bio-Based Polyethylene Terephthalate Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. Asia Pacific Bio-Based Polyethylene Terephthalate Historical Market: Breakup by Distribution Channels (USD Million), 2018-2023
9. Asia Pacific Bio-Based Polyethylene Terephthalate Market Forecast: Breakup by Distribution Channels (USD Million), 2024-2032
10. Asia Pacific Bio-Based Polyethylene Terephthalate Historical Market: Breakup by Country (USD Million), 2018-2023
11. Asia Pacific Bio-Based Polyethylene Terephthalate Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Bio-Based Polyethylene Terephthalate Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 12.10% between 2023 and 2027.
The major drivers of the Asia Pacific bio-based polyethylene terephthalate market include the rising usage of eco-friendly products and growing use in end use sectors such as packaging of food products, cosmetics, pharmaceutical products.
The growing emphasis on eco-friendly plastics, increase in consumer preference for green packaging, technological advancements, and increasing demand for low carbon-emission products are the key industry trends propelling the growth of the market.
The major players in the industry are Teijin Limited, Indorama Ventures, Braskem, FKuR Kunststoff GmbH, Toray Industries, Inc., and Far Eastern New Century Corporation, among others.
Bio-based polyethylene is a more environmentally friendly alternative to petroleum-based plastics because it is produced entirely or in part from renewable plant-based resources like sugar cane, corn, or other biological resources.
Bio-PET makes use of residues from the production of sugar. A waste product called sugar cane molasses is fermented to create bioethanol, which is then polymerised to create bio-PET resin.
PET is a widely regarded packaging material due to its strength-to-weight ratio, non-reactivity, affordability, and shatterproof nature. Health agencies from all around the world acknowledge that PET is safe for use in food, drink, personal care, pharmaceutical, and medical applications.
The primary end uses of bio-based polyethylene terephthalate in the Asia Pacific are beverages, food industry, textile, automotive, and pharmaceuticals, among others.
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