The Global Market for Bio-PET 2024-2034

The Global Market for Bio-PET 2024-2034

Polyethylene terephthalate (PET) is a thermoplastic material used for bottles, films and textile fibres. PET belongs to the polyester group. It consists of 70 percent terephthalic acid and 30 percent monoethylene glycol (MEG) by weight and is frequently used in the packaging sector. Bio-PET is a fast-growing segment of the PET market supported by strong demand drivers.

For bio-PET, MEG is produced from renewable raw materials from plants instead of fossil raw materials. Bio-PET can easily be applied in products and processed through existing recycling streams without issues. The shift to bio-based PET enables brands across industries to offer renewable plant-based plastic alternatives and reduce reliance on fossil fuel-derived PET.

Demand is forecast to exceed 2.5 million metric tons by 2034. Packaging remains the dominant application at over 70% of bio-PET consumption. Bottles for water, soft drinks, food, cosmetics are key products. Textiles are the second largest application as brands adopt bio-PET polyester fibers for sustainability. Asia Pacific is the main regional market for bio-PET.

Report contents include:

Overview of the global bioplastics market.

An overview of the global bio-PET market.

Global revenues historical, estimates for 2023 and projections to 2034, segmented by application and region.

Analysis of market growth drivers, challenges, and opportunities.

Analysis of end-use markets including

Packaging.

Consumer goods.

Automotive.

Textiles.

Films & sheets.

Regulations related to bio-PET.

Future price trend forecasts for bio-PET.

Market outlook and supply trends.

Comprehensive company profiles of 27 companies. Companies profiled include Hyosung Advanced Materials, Indorama Ventures, NatureWorks, Toray, Teijin, and Origin Materials. Company profiles include products, target markets, funding, and recent market activity