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Bio-based PET Market
Bio-based PET market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2031
Bio-based PET (Polyethylene Terephthalate) is a form of PET plastic that is derived from renewable biological sources, such as plants, instead of traditional fossil fuels like petroleum.” - David CorreaPORTLAND, OR, UNITED STATES, September 16, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the global bio-based PET market was valued at $441.3 million in 2021 and is projected to reach $941.4 million by 2031, registering a robust CAGR of 7.9% from 2022 to 2031. The report offers a comprehensive analysis of key factors driving market growth, investment opportunities, competitive landscape, and emerging trends, providing valuable insights for industry stakeholders to formulate effective strategies and enhance their market position.
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Bio-based PET, composed of biodegradable materials such as monoethylene glycol (MEG) and terephthalic acid (PTA), finds extensive applications across various industries including construction materials, automobile interiors, bottle manufacturing, and packaged goods. It offers several benefits such as non-toxicity, recyclability, and a reduced carbon footprint, making it widely used in the automotive, food, and beverage sectors. Polyethylene terephthalate (PET) is the most common thermoplastic polymer resin in the polyester family, utilized in textile fibers, beverage and food containers, thermoforming for manufacturing, and engineering resins when combined with glass fiber.
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The global bio-based PET market is analyzed based on application, end-use industry, and region, providing a detailed breakdown of segments and sub-segments through tabular and graphical representation to assist investors and market players in devising strategies based on high-revenue and fast-growing segments.
In terms of application, the beverages segment accounted for more than half of the total market revenue in 2021 and is expected to maintain its dominance through 2031. Conversely, the others segment is projected to exhibit the fastest CAGR of 9.4% during the forecast period.
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With regards to end-user industry, the packaging segment garnered nearly half of the total market revenue in 2021 and is anticipated to continue its dominance through 2031. However, the electrical and electronics segment is expected to register the fastest CAGR of 8.8% during the forecast period.
Geographically, the Asia-Pacific region accounted for more than two-fifths of the total market revenue in 2021 and is poised to retain its leading position through 2031, exhibiting the fastest CAGR of 8.2% during the forecast period. Other regions analyzed in the report include Europe, North America, and LAMEA.
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The key market players profiled in the report include Amyris, Anellotech Inc., Biome Bioplastics, Braskem, DAIKIN, Gevo Inc., Kuraray Co., Ltd., M&G Chemicals, NatureWorks LLC, Novamont S.p.A, Total Energies, Plastipak Holdings, Inc., PTT Global Chemical Public Company Limited, Solvay, Teijin Limited, Indorama Ventures Public Company Limited, Toray Industries Inc, and Toyota Tsusho Corporation. These players have adopted various strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their market presence. The report offers insights into the business performance, product portfolio, operating segments, and developments of these key players, aiding stakeholders in making informed decisions.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.