Bio based polyethylene terephthalate (PET) market currently provides greater opportunities for several prominent vendors. PET is a commercialized product that is preferred for its sustainability and is obtained using bio MEG as well as petroleum derived PTA. Currently, enterprises are investing more and more on research and development.
Favorable government policies and regulations are driving the market as an environment friendly substitute. However, uncertain supply of raw materials due to the rising need for ethanol in biofuel as well as food and beverage sector is likely to obstruct the availability of MEG. These factors would hamper the growth of the market to a greater extent. In addition, rising need for substitute including PEF assuring superior properties including thermal stability and reduced weight is expected to create opportunities.
The market is segmented based on application and geography. The application assessed during the study is bottle. Regions such as North America, Europe, Asia Pacific and LAMEA would witness tremendous growth.The key market players active in the Bio-Polyethylene Terephthalate Market are as Coca Cola, Draths Corporation, Pepsico, Anellotech, Inc., Virent, Inc., Danone and Gevo, Inc.
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