Global bio-PET market projected to grow at CAGR of 23.5% from 2014 to 2019

The global bio-polyethylene terephthalate market was valued at US$457.9 mln in 2014, and is projected to reach US$1317.5 mln by 2019, at a CAGR of 23.5% from 2014 to 2019, as per Research and Markets. Bio-PET is a thermosetting resin, manufactured from bio-based ethylene glycol. It is primarily used to manufacture packaging products such as bottles, consumer goods, food packaging, and others. Due to its superior properties in comparison to the petroleum-based products, there is an increasing demand of such materials among end-user industries, such as remodeling/ construction, automobile, and consumer goods. Rise in demand of bio-PET from varied industry verticals and increasing initiatives undertaken by companies to expand its bio-based product portfolio are factors contributing to the growth of global bio-PET market. The global bio-PET market is mainly segmented on the basis of application and geography. By geography, this market is classified into North America, Europe, Asia-Pacific, and rest of the world. North America dominates the global bio-PET market in terms of volume, by accounting for a share of 41.9% in 2014. The bottles application segment of this market accounted for a share of 95.2% in 2014. This growth is mainly attributed to the increasing demand for bottles among various industries, such as food & beverage, and medical among others
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha