FORT WORTH, Texas, June 9, 2015 /PRNewswire/ --
The global bio-polyethylene terephthalate market was valued at $457.9 million in 2014, and is projected to reach $1,317.5 million by 2019, at a CAGR 23.5% from 2014 to 2019.
Browse through the TOC of Bio-Polyethylene Terephthalate Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Bio-polyethylene terephthalate is a thermosetting polymer, which is produced from bio-based ethylene glycol. It is basically used an intermediate to manufacture plastics. The bottles segment accounts for the highest share in the global bio-PET market. The use of bio-based bottles offers better value in terms of functionality, quality, and performance. Therefore, bio-based bottles are primarily used in varied applications, such as beverage packaging and medicine packaging among others.
Bio-based extraction of bio-polyethylene terephthalate leads to acidification of ground water and soil, which in turn acts as a major restraining factor hampering the growth of the global bio-polyethylene terephthalate market.
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The North American region dominated the global bio-polyethylene terephthalate market in terms of volume in 2014. This growth is mainly attributed to the rise in number of governmental regulations restricting the use of petroleum sources, thereby promoting bio-based feedstock to manufacture chemicals. Additionally, increase in environmental concerns has also resulted in the widespread adoption of bio-based products.
The global bio-polyethylene terephthalate market is segmented on basis of application and geography. By geography, this market is further classified into regions such as Europe, North America, Asia-Pacific, and rest of the world.
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