Bio-Based PET Market Research Report - Forecast to 2027

Global Bio-Based PET Market Information: By Raw Material Source (Sugar, Molasses, Corn), Application (Bottles, Consumer Goods, Automotive, Electronics, And Others) And Region- Forecast Till 2027

ID: MRFR/CnM/4367-HCR | February 2021 | Region: Global | 100 pages

Bio-Based PET Market Overview

A bio-based PET is produced from ethylene glycol obtained from plant sources such as sugar, molasses, and corn, containing 25%-30% of mono-ethylene glycol (MEG) and terephthalic acid. Bio-based PET exhibits properties such as recyclability, non-toxicity, reduced carbon footprint, and high resistance to shatter.


The global bio-based PET market is majorly driven by the increasing adaption of green, safe, and bio-based products to protect the environment and human health. The fluctuating cost of the petroleum-based and related products is another major driver of the global market. The hazardous nature of conventional plastics and favoring government regulations are some other factors driving the global bio-based PET market. Moreover, the rising demand for eco-friendly packaging in various end-use industries such as food & beverage, automotive, electrical & electronics, consumer appliances, and others are the major market growth drivers. The technology development such as Plant PET Technology Collaborative (PTC) to produce 100% bio-based PET by Virent, Inc in 2015, which produces paraxylene using beet sugar instead of fossil fuels. Paraxylene is the key raw material used to product purified terephthalic acid (PTA) and dimethyl terephthalate (DMT) feedstock, which account for the other 70% of bottle-grade PET.  Furthermore, a prototype of first 100% PET bottle was shown by Coca-Cola Co. in September 2015 at World Expo in Milan. Stringent regulations on the usage of synthetic based polymer to reduce the greenhouse gas emission have augmented the market growth.

For instance, Australia, Canada, and Japan implemented the Kyoto Protocol, and the U.S. and Canada has approved the Montreal Protocol, which restricts the use of synthetic polyethylene terephthalate. However, the irregularity in the supply of feedstock and the limited land for cultivation of sugarcane and corn may challenge the market growth during the review period. Nevertheless, the favoring government schemes and policies such as Innovating for Sustainable Growth: a Bio-economy For Europe and USDA Biopreferred Program are further driving the market growth. European Bioplastics (EUBP), the Berlin-based association representing the bioplastics industry in Europe, stated that it welcomes the positive outcome and support the use of bio-based materials for packaging and improving market conditions for such materials and products in 2017.


Global Bio-based PET Share, by the application (%)


 Bio-based PET Share


Regional Analysis


The global bio-based PET market is segmented into five regions of Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.


North America is the leading region in the global bio-based PET due to the manufacturing of PET bottles, consumer goods, and others majorly in the U.S. The global bio-based PET market growth is attributed to the high demand from automotive sector in the U.S. and Canada. 


Asia Pacific is the fastest emerging region in the global bio-based PET due to the raw material availability, low-cost production, and industrial growth in the region. The production and exportation of automotive and consumer goods in developing countries such as China and India have augmented the market growth in the Asia Pacific region.


The European market is growing due to the rising demand for the product from automotive industries in western European countries such as Germany, the U.K, France, and others.


The demand for a bio-based PET is majorly driven by the growing environment safety issues and the rapid industrialization in the Middle East and Africa region.


Segmentation


The global bio-based PET market is segmented on the basis of the raw material source, application, and region.


The global bio-based PET market is segmented on the raw material source as sugar, molasses, and corn.


By the application, the global bio-based PET market is segmented into bottles, consumer goods, automotive, electronics, and others.


Geographically, the global bio-based PET market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Key Players


Some of the manufacturers operating in the global bio-based PET market are Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy),  NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), Toyota Tsusho Corporation (Japan), and others.


Industry Update:


September 2018: PepsiCo formed a partnership with NaturALL Bottle Alliance to develop packaging made from 100% sustainable and renewable sources. This partnership was established with the intention of creating beverage bottles that have a lower carbon footprint. Following this, the Alliance aims to make 95% Bio-Based PET bottles.


Intended Audience



  • Bio-based PET Manufacturers

  • Traders and distributors of bio-based PET

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant value
  CAGR   2019–2027: Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Raw Material Source, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy), NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), Toyota Tsusho Corporation (Japan), and others.
  Key Market Opportunities   The rising demand for eco-friendly packaging in various end-use industries such as food & beverage, automotive, electrical & electronics
  Key Market Drivers   The increasing adaption of green, safe, and bio-based products to protect the environment and human health.


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Frequently Asked Questions (FAQ) :


Notable players profiled in the bio-based PET market include Toyota Tsusho Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), TEIJIN LIMITED (Japan), Plastipak Holdings, Inc. (the USA), Novamont SPA (Italy), NatureWorks LLC (USA), M&G Chemicals (Italy), Indorama Ventures Public Company Limited (Thailand), Gevo, Inc. (the USA), Braskem (Brazil), Anellotech, Inc. (the USA), and Amyris (USA).

Europe is predicted to have maximum share in the bio-based PET market during the forecast period.

Increasing adaption of environment-friendly bio-based products, government incentives, need for environmental protection, and increasing use in different end use industries are adding to the growth of the bio-based PET market.

It is extensively used in the food and beverage industry, electrical and electronics industry, consumer appliances, and automotive.

The bio-based PET market is segmented based on raw material source (corn, molasses, sugar), and application (electronics, automotive, consumer goods, bottles).

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining Power of Buyers

4.1.3 Bargaining Power of Suppliers

4.1.4 Threat of substitutes

4.1.5 Segment rivalry

4.2 Value Chain/Supply Chain of Global Bio-based PET Market

5 Industry Overview of Global Bio-based PET Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact Analysis

7. Global Bio-based PET Market by Raw Material Source

7.1 Introduction

7.2 Sugar

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Molasses

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Corn

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Bio-based PET Market by Application

8.1 Introduction

8.2 Bottles

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Consumer goods

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Automotive

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

8.5 Electronics

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Region, 2020-2027

8.6 Others

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Bio-based PET Market by Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.2.3 Market Estimates & Forecast by Application, 2020-2027

9.2.4 U.S.

9.2.4.1 Market Estimates & Forecast, 2020-2027

9.2.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.2.4.3 Market Estimates & Forecast by Application, 2020-2027

9.2.5 Canada

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.2.5.3 Market Estimates & Forecast by Application, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.3 Market Estimates & Forecast by Application, 2020-2027

9.3.4 Germany

9.3.4.1 Market Estimates & Forecast, 2020-2027

9.3.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.4.3 Market Estimates & Forecast by Application, 2020-2027

9.3.5. France

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.5.2 Market Estimates & Forecast by Application, 2020-2027

9.3.6 Italy

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.6.2 Market Estimates & Forecast by Application, 2020-2027

9.3.7 Spain

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.7.2 Market Estimates & Forecast by Application, 2020-2027

9.3.8 U.K

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.8.2 Market Estimates & Forecast by Application, 2020-2027

9.3.9 Russia

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.9.2 Market Estimates & Forecast by Application, 2020-2027

9.3.10 Poland

9.3.10.1 Market Estimates & Forecast, 2020-2027

9.3.10.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.3.10.2 Market Estimates & Forecast by Application, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.3 Market Estimates & Forecast by Application, 2020-2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, 2020-2027

9.4.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.4.3 Market Estimates & Forecast by Application, 2020-2027

9.4.5 India

9.4.4.1 Market Estimates & Forecast, 2020-2027

9.4.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.4.3Market Estimates & Forecast by Application, 2020-2027

9.4.5 Japan

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.5.3 Market Estimates & Forecast by Application, 2020-2027

9.4.6 Australia

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.6.3 Market Estimates & Forecast by Application, 2020-2027

9.4.7 New Zealand

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.7.3 Market Estimates & Forecast by Application, 2020-2027

9.4.8 Rest of Asia Pacific

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.4.8.2 Market Estimates & Forecast by Application, 2020-2027

9.5 Middle East & Africa

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.5.3 Market Estimates & Forecast by Application, 2020-2027

9.5.4 Turkey

9.5.4.1 Market Estimates & Forecast, 2020-2027

9.5.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.5.4.3 Market Estimates & Forecast by Application, 2020-2027

9.5.5 Israel

9.5.5.1 Market Estimates & Forecast, 2020-2027

9.5.5.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.5.5.3 Market Estimates & Forecast by Application, 2020-2027

9.5.6 North Africa

9.5.6.1 Market Estimates & Forecast, 2020-2027

9.5.6.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.5.6.3 Market Estimates & Forecast by Application, 2020-2027

9.5.7 GCC

9.5.7.1 Market Estimates & Forecast, 2020-2027

9.5.7.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.5.7.3 Market Estimates & Forecast by Application, 2020-2027

9.5.8 Rest of Middle East & Africa

9.5.8.1 Market Estimates & Forecast, 2020-2027

9.5.8.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.5.8.2 Market Estimates & Forecast by Application, 2020-2027

9.6 Latin America

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.6.3 Market Estimates & Forecast by Application, 2020-2027

9.6.4 Brazil

9.6.4.1 Market Estimates & Forecast, 2020-2027

9.6.4.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.6.4.3 Market Estimates & Forecast by Application, 2020-2027

9.6.5 Argentina

9.6.5.1 Market Estimates & Forecast, 2020-2027

9.6.5.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.6.5.3 Market Estimates & Forecast by Application, 2020-2027

9.6.6 Mexico

9.6.6.1 Market Estimates & Forecast, 2020-2027

9.6.6.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.6.6.3 Market Estimates & Forecast by Application, 2020-2027

9.6.70 Rest of Latin America

9.6.7.1 Market Estimates & Forecast, 2020-2027

9.6.7.2 Market Estimates & Forecast by Raw Material Source, 2020-2027

9.6.7.3 Market Estimates & Forecast by Application, 2020-2027

10. Company Landscape

11. Company Profiles

11.1 Braskem

11.1.1 Company Overview

11.1.2 Raw Material Source/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 Gevo, Inc.

11.2.1 Company Overview

11.2.2 Raw Material Source/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 TEIJIN LIMITED

11.3.1 Company Overview

11.3.2 Raw Material Source/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 Anellotech, Inc.

11.4.1 Company Overview

11.4.2 Raw Material Source/Business Segment Overview

11.4.3 Financial Updates

11.4.4 Key Developments

11.5 TORAY INDUSTRIES, INC.

11.5.1 Company Overview

11.5.2 Raw Material Source/Business Segment Overview

11.5.3 Financial Updates

11.5.4 Key Developments

11.6 Indorama Ventures Public Company Limited

11.6.1 Company Overview

11.6.2 Raw Material Source/Business Segment Overview

11.6.3 Financial Updates

11.6.4 Key Developments

11.7 M&G Chemicals

11.7.1 Company Overview

11.7.2 Raw Material Source/Business Segment Overview

11.7.3 Financial Updates

11.7.4 Key Developments

11.8 NatureWorks LLC

11.8.1 Company Overview

11.8.2 Raw Material Source/Business Segment Overview

11.8.3 Financial Updates

11.8.4 Key Developments

11.9 Novamont S.p.A

11.9.1 Company Overview

11.9.2 Raw Material Source/Business Segment Overview

11.9.3 Financial Updates

11.9.4 Key Developments

11.10 Plastipak Holdings, Inc.

11.10.1 Company Overview

11.10.2 Raw Material Source/Business Segment Overview

11.10.3 Financial Updates

11.10.4 Key Developments

11.11 Amyris

11.11.1 Company Overview

11.11.2 Raw Material Source/Business Segment Overview

11.11.3 Financial Updates

11.11.4 Key Developments

11.12 Toyota Tsusho Corporation

11.12.1 Company Overview

11.12.2 Raw Material Source/Business Segment Overview

11.12.3 Financial Updates

11.12.4 Key Developments

12. Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2020 To 2027)

Table 2 Global Bio-based PET Market: By Region, 2020-2027

Table 3 North America Bio-based PET Market: By Country, 2020-2027

Table 4 Europe Bio-based PET Market: By Country, 2020-2027

Table 5 Asia-Pacific Bio-based PET Market: By Country, 2020-2027

Table 7 Middle East & Africa Bio-based PET Market: By Country, 2020-2027

Table 6 Latin America Bio-based PET Market: By Country, 2020-2027

Table 8 Global Bio-based PET by Raw Material Sources Market: By Regions, 2020-2027

Table 9 North America Bio-based PET by Raw Material Sources Market: By Country, 2020-2027

Table 10 Europe Bio-based PET by Raw Material Sources Market: By Country, 2020-2027

Table11 Asia-Pacific Bio-based PET by Raw Material Sources Market: By Country, 2020-2027

Table13 Middle East & Africa Bio-based PET by Raw Material Sources Market: By Country, 2020-2027

Table12 Latin America Bio-based PET by Raw Material Sources Market: By Country, 2020-2027

Table14 North America Bio-based PET for Application Market: By Country, 2020-2027

Table13 Europe Bio-based PET for Application Market: By Country, 2020-2027

Table14 Asia-Pacific Bio-based PET for Application Market: By Country, 2020-2027

Table16 Middle East & Africa Bio-based PET for Application Market: By Country, 2020-2027

Table15 Latin America Bio-based PET for Application Market: By Country, 2020-2027

Table23 Global Raw Material Sources Market: By Region, 2020-2027

Table24 Global Application Market: By Region, 2020-2027

Table25 North America Bio-based PET Market, By Country

Table26 North America Bio-based PET Market, By Raw Material Sources

Table27 North America Bio-based PET Market, By Application

Table28 Europe: Bio-based PET Market, By Country

Table29 Europe: Bio-based PET Market, By Raw Material Sources

Table30 Europe: Bio-based PET Market, By Application

Table31 Asia-Pacific: Bio-based PET Market, By Country

Table32 Asia-Pacific: Bio-based PET Market, By Raw Material Sources

Table33 Asia-Pacific: Bio-based PET Market, By Application

Table36 Middle East & Africa: Bio-based PET Market, By Country

Table37 Middle East & Africa Bio-based PET Market, By Raw Material Sources

Table33 Middle East & Africa: Bio-based PET Market, By Application

Table34 Latin America: Bio-based PET Market, By Country

Table35 Latin America Bio-based PET Market, By Raw Material Sources

Table33 Latin America: Bio-based PET Market, By Application

LIST OF FIGURES

FIGURE 1 Global Bio-based PET Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Bio-based PET Market

FIGURE 4 Value Chain of Global Bio-based PET Market

FIGURE 5 Share of Global Bio-based PET Market in 2020, by country (in %)

FIGURE 6 Global Bio-based PET Market, 2020-2027,

FIGURE 7 Sub segments of Raw Material Source

FIGURE 8 Global Bio-based PET Market size by Raw Material Source, 2020

FIGURE 9 Share of Global Bio-based PET Market by Raw Material Source, 2020-2027

FIGURE 10 Sub segments of Application

FIGURE 11 Global Bio-based PET Market size by Application, 2020

FIGURE 12 Share of Global Bio-based PET Market by Application, 2020-2027