Bio-based PET Market by Application (Bottles, Consumer Goods, Technical, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The Bio-based PET Market size was valued at USD 4.52 USD Billion in 2023 and is projected to reach USD 9.20 USD Billion by 2032, exhibiting a CAGR of 10.68 % during the forecast period. Plant-based PET is a version of PET that is partially or fully obtained from renewable feedstock such as plant sugars and is better known as bio-based PET. There are two main types: previously, there was bio-based PET that utilizes the concentration of 30 percent renewable feedstock, and also the fully bio-based PET which was made totally of the biological origin feedstock. Some of the key attributes that caught my attention include, reduced CO2 emissions which are inclusive of similar characteristics of physical properties as PET and in addition to this compatibility with other PET recycling end markets. Bio-based PET finds its application in food and beverage packaging, textile, and automotive parts. Its use contributes to the reduction of fossil fuels hence providing an opportunity for green materialism.
Bio-based PET Market Trends
The increasing urbanization, changing lifestyles, and rising disposable incomes have led to a greater demand for bio-based PET across various industries. The packaging sector, in particular, is witnessing substantial growth due to the growing demand for lightweight, durable, and eco-friendly packaging solutions. Additionally, the automotive industry is exploring bio-based PET for interior components, promoting sustainability and reducing carbon footprint.
By Application:
By Region:
Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 10.68 % from 2019-2033 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 10.68 % from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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