The rising need of less carbon emission products and increasing use of eco-friendly products to boost Bio-Based Polyethylene Terephthalate Market growth

Bio-Based Polyethylene Terephthalate
Bio-Based Polyethylene Terephthalate Market


Bio-Based Polyethylene Terephthalate Market by Application (Beverages, Sheet and Films, Consumer Goods, Food Packaging, Others), by End Use Industry (Packaging, Electrical and Electronics, Automotive, Others), and by Region (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Outlook, Size, Share and Opportunity Analysis 2023 – 2030

The global Bio-Based Polyethylene Terephthalate Market is estimated to be valued at US$ 2456.00 Million in 2021 and is expected to exhibit a CAGR of 17.57 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Bio-Based Polyethylene Terephthalate is a biomass-based fully recyclable, ecofriendly, compostable, and renewable bioplastic element. The Bio-Based Polyethylene Terephthalate is made up of 30% plant-based ethanol glycol and 70% fossil-based terephthalic acid.  Bio-Based Polyethylene Terephthalate is a vast group of polymers that have the strength to be generated from bio-based feedstock.

Competitive Landscape:

Key players involved in the growth of global Bio-Based Polyethylene Terephthalate Market are Teijin Limited, PTT Global Chemical Public Company Limited, Amyris, Anellotech Inc., Toyota Tsusho Corporation, NatureWorks LLC, Toray Industries Inc, Biome Bioplastics, Novamont S.p.A, Plastipak Holdings, Inc., Braskem, DAIKIN, Gevo Inc., M&G Chemicals, Indorama Ventures Public Company Limited, Kuraray Co., Ltd., Solvay and Total Energies.

Market Key Drivers:

The rising need of less carbon emission products and increasing use of eco-friendly products is expected to augment the growth of global Bio-Based Polyethylene Terephthalate Market. For instance, as per Facts and Figures carbon dioxide emissions from fossil fuels accounted for around 37.12 billion Mt.

The rise in the construction industry is projected to propel the growth of global Bio-Based Polyethylene Terephthalate Market. For instance, Asphalt is the main substance employed in road pavement construction as a combination of aggregates.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of the global Bio-Based Polyethylene Terephthalate Market due to the strict imposition of shutdown and lockdown by the regulatory. The closure of manufacturing and production units and the disruption in the supply chain and the halt in the production of raw materials impeded market growth.

Key Takeaways:

The global Bio-Based Polyethylene Terephthalate Market is expected to exhibit a CAGR of 17.57 % during the forecast period due to the rising use of Bio-Based Polyethylene Terephthalate in alcoholic beverage industries and rising investment in the industries. For instance, in August 2021, NatureWorks spent US$ 600 million in Thailand to build a biopolymer manufacturing service. 

Among regions North America, Asia Pacific, and Europe are anticipated to witness robust growth in the global Bio-Based Polyethylene Terephthalate Market owing to the rising construction industry, increasing mergers and acquisitions and rising environmental concerns. For instance, In February 2021, Coca-Cola, along with manufacturing plastic bottles, introduced its new bottles designed from rPET. 

Comments

Post a Comment

Popular posts from this blog

Rising Cancer Cases to boost the Molecular Cytogenetics Market Growth

Image
Molecular Cytogenetics Market Molecular Cytogenetics Market by Products (Kits & Reagents, Instruments, and Software & Services), Technique (Fluorescence in Situ Hybridization, Comparative Genomic Hybridization, Karyotyping, Other Techniques), Application (Cancer, Genetic Disorders, Other Applications), And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030 The global Molecular Cytogenetics Market is estimated to be valued at US$ 4,211.4 million in 2023, and is expected to exhibit a CAGR of 24.5 % over the forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Clinical cytogenetics is the examination of the relation between chromosomal alterations and genetic disorders in human beings. Molecular cytogenetics is an examination of genetic diseases utilizing new techniques and methods that link cytogenetic and molecular techn
Read more

Bispecific Antibodies Are Used As Therapeutic Drugs While Treating Viral Infections, Oncology, And Auto-Immune Diseases

Image
  Bispecific Antibodies Bispecific antibodies are produced through cell fusion or recombinant DNA technologies. Bispecific antibodies are much more specific than monoclonal antibodies. Their applications in tumor immunotherapy are nearly limitless. As of today, seven bispecific antibodies have been approved by the FDA and EMA and over one hundred are in preclinical testing. Bispecific antibodies were initially developed using the quadroma technology. They contain two distinct antigen-binding arms, which enable them to bind to the target antigen while also activating an effector cell, which kills tumor cells. The primary antigen on the surface of the effector cell is called CD3, which is a popular target of immune cells. According to Coherent Market insights the Bispecific Antibodies Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. Many of these multi specific antibody formats have been developed over the past 30 years. These categories of a
Read more

Organic Milk Has Much Higher Concentration Of Iron, Vitamin E, And Polyunsaturated Fatty Acids Omega-3 And Omega-6 As Compared To Regular Milk

Image
  Organic Milk Organic Milk is milk made from livestock raised using organic farming practices. The use of the term "organic" is regulated by food authorities in most jurisdictions. Organic cows are not allowed to be given hormones, which stimulate milk production. Organic feed also must be grown without the use of synthetic pesticides. Organic cows must get a certain percentage of their diet from grazing, although most organic dairies supplement the grass with grain. However, organic grazing cows produce less milk than cows that eat a grain-based diet. Buying organic milk may be a better investment for your health. According to Coherent Market Insights the Organic Milk Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. The standards for organic milk are stringent. To meet the organic standard, a dairy farm cannot use any form of animal growth hormones or antibiotics. Organic cows must spend at least 30% of their lives on pasture. C
Read more