According to MarketIntelReports’ “ Global Bio-based Polyethylene Terephthalate Market Professional Survey Report 2016_x000D_”:
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Polyethylene terephthalate is a resin which is produced by the combination of two monomers, namely purified terephthalic acid and modified Ethylene Glycol. This is done by esterification reaction. The Bio Based Polyethylene Terephthalate Market finds applications in the production of synthetic fibres and bottles. Bio polyethylene is tough and has temperature resistance. The difference between PET and bio based PET is that the former uses non biodegradable material and the latter uses biodegradable material. Bio derived polyethylene consists of MEG ( monoethyelene glycol), a product of sugarcane ethanol and purified PTA(terephthalic acid), a product of crude oil. It can be used to make tools, bags, beds, furniture, and other packaging materials.
Scope & Regional Forecast of the Bio Based Polyethylene Terephthalate Market
US is the largest consumer of renewable polyethylene, since it is used for manufacturing bottles and consumer goods. The growing demand for eco friendly packaging in food and beverage, consumer products will boost the growth of the Bio Based Polyethylene Terephthalate Market.
The concerns about greenhouse gases along with emergence of bioplastics for the packaging and automotive industry will augment the demand for bioplastic resin. The importance of sustainable packaging, in India and China will have a positive impact on the market growth in the coming years.
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Majority of bio based PET has 70% petroleum based PTA and 30% based MEG. But companies have been investing heavily for 100% biobased PET which has bio based MEG and naturally derived PTA. Emergence of substitutes like PEF may hamper the growth of the market in the coming years. However, growing consumption of carbonated soft drinks will propel the demand for PET resin.
Segmentations & Key Players Involved in the Bio Based Polyethylene Terephthalate Market
Applications- Packaging, Automotive, Electronics, Consumer goods, and Others.
Region- North America, Europe, Japan, China, Southeast Asia, and India.
Some of the key players involved in the Bio Based Polyethylene Terephthalate Market are as follows:
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