Bio-based polyethylene terephthalate is widely used in packaging of various food, beverages and in automotive industry.
Rising demand for bio-based polyethylene terephthalate, owing to increasing support from regulating bodies to reduce greenhouse emissions is major factor expected to propel growth of the global bio-based polyethylene terephthalate market over the forecast period. In addition, growing demand for bio-based polyethylene terephthalate, owing to increasing importance of sustainable packaging is another factor expected to boost growth of the market in near future.
However, availability of substitutes is factor expected to hamper growth of the target market in the near future.
The global bio-based polyethylene terephthalate market has been segmented on basis of end use industry, application, and region. On the basis of end use industry, the target market is segmented into packaging, consumer goods, automotive, and semiconductor electronics. On the basis of application global bio-based polyethylene terephthalate market is segmented into bottles, foam, pressure sensitive adhesive tape, substrate in thin film solar cells, and cosmetics. Bottle segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to increasing use for the packaging of carbonated soft drinks (CSD) and alcoholic beverages which include beer, wine, and spirits globally.
Request for the Sample Report Here: https://marketresearch.biz/report/bio-based-polyethylene-terephthalate-market/request-sample/
Based upon region global bio-based polyethylene terephthalate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in Asia Pacific is estimated to be highest share in terms of revenue, owing to growing support from regulating bodies to reduce the concerns regarding greenhouse gasses, in the region. The markets in Europe is expected to register significant growth in terms of revenue, owing to emergence of bioplastics as an alternative in the packaging and automotive industry, in the region over the forecast period.
Key players operating in the global bio-based polyethylene terephthalate market include Toray Industries Inc., The Coca-Cola Company, Teijin Limited, Toyota Tsusho Corporation, Anellotech Inc., Gevo Inc., Plastipak Holdings Inc., Virent Inc., Ford Motor Company, and Draths Corporation