The market for Bio-PET is expected to grow at a CAGR of over 11% during the forecast period of 2019-2024. One of the major factors driving the market studied is the growing GHG (Greenhouse Gases) emission concerns. However, development of PEF (Polyethylene Furanoate) is likely to restrain the market.
Global Bio-PET Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
– Environmental factors that are encouraging a paradigm shift are also likely to boost the demand for Bio-PET during the forecast period.
– Focus toward renewable sources is likely to act as an opportunity for the market growth in future.
– Asia-Pacific dominated the market across the globe in 2018 closely followed by North America. Asia-Pacific is likely to witness the highest growth rate during the forecast period.
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Market By Top Companies:
Toyota Tsusho Corporation, Far Eastern New Century, Indorama Ventures, Coca Cola Co., Toray Industries Inc., Plastipak Holdings, Ford Motors, Gevo Inc., H.J. Heinz, Teijin Limited
Industry Research Coverage
Bottles Application to Dominate the Market
– Bottles are the major application for PET and bio-PET is expected to be used largely in the manufacture of these bottles in the future.
– The demand for these bottles, especially from soft drink manufacturers, like Pepsi Co. and Coca-Cola is expected to hugely boost the bio-PET market.
– These companies are actively spending huge resources in the manufacture of bio-PET bottles and are doing their part in order to protect the environment.
– Also, Bio-PET (Polyethylene Terephthalate) is made of sustainable raw materials and is deemed to be less harmful than PET bottles made of raw materials derived from crude oil.
– Owing to the above mentioned reasons, the bottles application is likely to dominate the market.
Asia-Pacific to Dominate the Market
– The Asia-pacific region is home to half of the population in the world and its consumption of PET bottles is on a huge scale.
– This region is expected to play a prominent role in the growth, in usage of bio-PET, as it massively helps for the wide-scale acceptance of bio-PET in multiple applications like textile, packaging etc.
– The high cost of bio-PET is a deterrent for its wide acceptance in this region due to the cost conscious nature of the consumer.
– Major manufacturers are focusing on lowering the price of bio-PET, and the success in lowering the prices hugely affects the market shift towards bio-PET.
– China owing to the staedy growth of its FMCG and packaging industries, accounts for the highest share of the market in the Asia-Pacific region.
– Hence, owing to the aforementioned reasons, Asia-Pacific is likely to dominate the Bio-PET market during the forecast region.
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Major points covered in this research are:-
─Bio-PET Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2024), Competition by Manufacturers
─Global Market Size (Value) of Bio-PET (2020-2024)
─Global Bio-PET Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2024)
─Global Bio-PET Production, Revenue (Value), Price Trend by Type
─Global Bio-PET Market Analysis by Application
─Global Bio-PET Manufacturers Profiles/Analysis
─Bio-PET Manufacturing Cost Analysis
─Industrial Chain, Sourcing Strategy and Downstream Buyers
─Marketing Strategy Analysis, Distributors/Traders
─Market Effect Factors Analysis
─Global Bio-PET Market Forecast (2020-2024)
─Research Findings and Conclusion
Finally, this Bio-PET report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Bio-PET product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
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