Global Bio-based Polyethylene Terephthalate (PET) Market 2015-2019
About Bio-based Polyethylene Terephthalate
Bio-based PET is a biodegradable product made from materials such as monoethylene glycol (MEG) and terephthalic acid (PTA). About 30% of bio-based PETs are composed of monoethylene glycol (MEG), a product of sugarcane ethanol, and the rest is composed of purified terephthalic acid (PTA), a chemical-based product of crude oil. There are different types of bioplastics: polymers directly extracted from biomass and processed, polymers made from bio-based precursors (polylactic acid or PLA), and polymers made from bacteria (PHA and PHBs). They can be used to manufacture tools, bags, beds, furniture, carpets, films, bottles, cups, and other packaging materials. In landfills, they emit about 30-70% less CO2 compared to conventional plastics.In 2014, Germany was the major contributor to the market, followed by Asia, the US, and Brazil.
Technavio's analysts forecast the global bio-based PET market to grow at a CAGR of 68.25% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of bio-based PET market for the period 2015-2019. The market is segmented based on the following:
Technavio Announces the Publication of its Research Report – Global Bio-based Polyethylene Terephthalate (PET) Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Bio-based Polyethylene Terephthalate (PET) Market: Anellotech, Coca Cola, Gevo, PepsiCo and Toyota Tsusho
Other Prominent Vendors in the market are: Ford Motors, H.J. Heinz, Nike, Plastipak and Procter & Gamble
Commenting on the report, an analyst from Technavio’s team said: “Raw materials constitute a major part of the production cost for manufacturers. Vendors are exposed to the volatile prices and inconsistent availability of raw materials. To secure themselves from any kind of price or availability shocks, companies often tend to forge long-term sourcing agreements or venture out into acquiring captive sources of raw materials. There is also a growing trend of textile manufacturers acquiring strategic stakes in the supplier firms to have better control on quality of input materials. Coca-Cola, Nike, and Toyota have collaboratively formed a company named PlantBottle, where they manufacture bio-based PET bottles.”
According to the report, strong advertising campaigns and promotional activities in the Cola sub-segment have helped this category perform better than the other categories in the segment. Pricing activity will be a key factor in the future as consumers opt for the best deals. Coca-Cola, Nike, and Toyota have collaboratively formed a company named PlantBottle that manufactures bio-based PET bottle, which is the first fully-recyclable PET plastic beverage bottle made using 30% bio-based material, which will result in a smaller carbon footprint. The global CSD bottle market is expected to grow at a significant rate during forecast period, as shown in the graph.
Further, the report states that volatility in prices of crude and petrochemical intermediaries such as PTA, which is a major raw material in the production of bio-based PET, is one of the major challenges.
Anellotech, Coca Cola, Gevo, PepsiCo, Toyota Tsusho, Ford Motors, H.J. Heinz, Nike, Plastipak, Procter & Gamble
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