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Global Bio Based Polyethylene Terephthalate Market Size: By Application: Bottles, Sheet and Foam, Carry Bags and Pouches, Pressure Sensitive Adhesive Tape, Others; By End Use: Food Industry, Beverage, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Bio Based Polyethylene Terephthalate Market Outlook
The global bio-based polyethylene terephthalate market reached a value of about USD 689.98 million in 2023. The market is further expected to grow at a CAGR of about 11.6% in the forecast period of 2024-2032 to reach a value of around USD 1323.28 million by 2032.
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North America Leading the Bio Based Polyethylene Terephthalate Market
The United States has been one of the major consumers of bio-PET, where the material is commonly used for the manufacture of bottles, technology, and consumer goods. Increased demand for environmentally friendly packaging in food and beverage, consumer goods, and pharmaceutical industries is expected to drive growth due to increasing concerns about the reduction of greenhouse emissions at domestic level. Bio-based production is a central objective for the European Commission, which is expected to boost the market share of bio-based PET materials. The growth in consumer preference about the use of green packaging combined with technological advancements is expected to fuel North America's market expansion.
The growing importance of sustainable packaging, particularly in China and India, is expected to have a strong impact in market demand over the forecast period. Japan, Canada, and Australia have followed the Kyoto Protocol, which prohibits the use of synthetic polyethylene terephthalate because it causes GHE (Green House Emission). These standards may help to grow the demand for bio-based polyethylene terephthalate.
Bio Based Polyethylene Terephthalate: Market Segmentation
Polyethylene terephthalate is a resin which is formed by a mixture of two monomers, distilled terephthalic acid, and modified ethylene glycol, to create a polymer called polyethylene terephthalate by esterification. Bio-based polyethylene terephthalate is made of MEG (monoethylene glycol), a sugar cane ethanol product, and distilled PTA (terephthalic acid), a chemical-based crude oil product. Because of its lightweight and biodegradable nature, bio-based polyethylene terephthalate is used in the packaging of food products, soft drinks, alcoholic beverages, cosmetics, pharmaceutical products, and edible oils.
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The product finds wide applications in the following:
- Bottles
- Sheet and Foam
- Carry Bags and Pouches
- Pressure Sensitive Adhesive Tape
- Others
The end-uses of the product include the following:
- Food Industry
- Beverage
- Consumer Goods
- Automotive
- Pharmaceuticals
- Others
The regional markets for bio-based polyethylene terephthalate can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Bio-Friendly Products Bolstering the Market Growth
The rising use of eco-friendly goods across the globe and strict environmental regulations to encourage the use of bio-friendly products in industries have led to an increase in demand for bio-based polyethylene terephthalate materials. Progress in manufacturing technology and the performance of the research and development sector in the chemical and materials sector across major regions of the bio-based polyethylene terephthalate industry is expected to boost bio-based PET consumption. The growth of the market for bio-based polyethylene terephthalate is anticipated to be focused on rising demand in various industries including food and beverage, and a strict regulatory framework to reduce carbon emissions. As a result, government policies to encourage the use of biodegradable goods have resulted in the use of bio-based polyethylene terephthalate materials. In addition, advances in technology and research and a shift in focus towards the use of green plastics are expected to drive the growth of the market for bio-based polyethylene terephthalate.
Key Industry Players in the Global Bio Based Polyethylene Terephthalate Market
The report gives a detailed analysis of the following key players in the global bio-based polyethylene terephthalate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Toray Industries, Inc.
- Toyota Tsusho Corporation
- Braskem Inc.
- Virent Inc
- The Coca-Cola Company
- 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.
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- Application, End Use, Region |
| Breakup by Application | Bottles, Sheet and Foam, Carry Bags and Pouches, Pressure Sensitive Adhesive Tape, Others |
| Breakup by End Use | Food Industry, Beverage, Consumer Goods, Automotive, Pharmaceuticals, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Toray Industries, Inc., Toyota Tsusho Corporation, Braskem Inc., Virent Inc, The Coca-Cola Company, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Bio Based Polyethylene Terephthalate Market Analysis
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)
8.4 Global Bio Based Polyethylene Terephthalate Market by Application
8.4.1 Bottles
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Sheet and Foam
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Carry Bags and Pouches
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Pressure Sensitive Adhesive Tape
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Bio Based Polyethylene Terephthalate Market by End Use
8.5.1 Food Industry
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Beverage
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Consumer Goods
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Automotive
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Pharmaceuticals
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Bio Based Polyethylene Terephthalate Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
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 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Toray Industries, Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Toyota Tsusho Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Braskem Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Virent Inc
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 The Coca-Cola Company
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Bio Based Polyethylene Terephthalate Market: Key Industry Highlights, 2018 and 2032
2. Global Bio Based Polyethylene Terephthalate Historical Market: Breakup by Application (USD Million), 2018-2023
3. Global Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Application (USD Million), 2024-2032
4. Global Bio Based Polyethylene Terephthalate Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Global Bio Based Polyethylene Terephthalate Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Global Bio Based Polyethylene Terephthalate Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Bio Based Polyethylene Terephthalate Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Bio Based Polyethylene Terephthalate Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Bio Based Polyethylene Terephthalate Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Bio Based Polyethylene Terephthalate Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Bio Based Polyethylene Terephthalate Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Bio Based Polyethylene Terephthalate Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Bio Based Polyethylene Terephthalate Market Structure
Key Questions Answered in the Report
In 2023, the global bio-based polyethylene terephthalate market attained a value of nearly USD 689.98 million.
The market is projected to grow at a CAGR of 11.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 1323.28 million by 2032.
The market is being driven by the growing disposable incomes, rising demand for eco-friendly goods, the growing demand for bio based polyethylene terephthalate in food and beverage applications, and the introduction of strict regulatory frameworks aimed at reducing carbon emissions.
The key trends guiding the market growth include technological advancements and innovations, the increasing use of biodegradable goods, and the shifting focus towards the use of green plastics.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant applications of bio based polyethylene terephthalate include bottles, sheet and foam, carry bags and pouches, and pressure sensitive adhesive tape, among others.
The major end uses of bio-based polyethylene terephthalate are food industry, beverage, consumer goods, automotive, and pharmaceuticals, among others.
Who are the key players in the bio based polyethylene terephthalate market, according to the report?
The major players in the market are Toray Industries, Inc., Toyota Tsusho Corporation, Braskem Inc., Virent Inc, and The Coca-Cola Company, among others.
Analyst Review
The global bio-based polyethylene terephthalate market attained a value of USD 689.98 million in 2023 driven by rising demand for eco-friendly goods. Aided by the various government policies to encourage the use of biodegradable goods, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11.6%. The bio-based polyethylene terephthalate market is projected to reach USD 1323.28 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its applications, the bio-based polyethylene terephthalate industry can be segmented into bottles, sheet and foam, carry bags and pouches, pressure sensitive adhesive tape, and others. On the basis of end uses, the industry is categorised into food industry, beverage, consumer goods, automotive, pharmaceuticals, and others. The major regional markets for bio-based polyethylene terephthalate are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Toray Industries, Inc., Toyota Tsusho Corporation, Braskem Inc., Virent Inc, The Coca-Cola Company, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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