logo
logo
Sign in

Bio-Based Polyethylene Terephthalate Market Trends: Insights into Demand, Supply, and Pricing

avatar
Ben Wood
Bio-Based Polyethylene Terephthalate Market Trends: Insights into Demand, Supply, and Pricing

The bio-based polyethylene terephthalate (Bio-PET) market has seen significant growth in recent years, driven by increased demand for sustainable and eco-friendly products. This trend is expected to continue, with the market projected to grow at a compound annual growth rate (CAGR) of around 12% between 2021 and 2026.


Demand for Bio-Based Polyethylene Terephthalate Market is being driven by a variety of factors, including government regulations aimed at reducing the use of single-use plastics, increasing consumer awareness of environmental issues, and corporate sustainability initiatives. As a result, many companies are incorporating Bio-PET into their products to meet consumer demand for more sustainable options.


In terms of supply, there has been a significant increase in Bio-PET production capacity in recent years. Many companies have invested in new production facilities and technologies to meet growing demand for sustainable materials. However, there are still challenges related to the availability of feedstock and the high cost of production, which can limit the growth of the Bio-PET market.


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. 



Read More:

https://cmitoc.blogspot.com/2023/04/the-rising-need-of-less-carbon-emission.html

collect
0
avatar
Ben Wood
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more