Global biobased PET market 2012-2020
According to a new report by Grand View Research, the biobased polyethylene terephthalate (PET) market has vast opportunities for participating companies as currently commercialised product is 30% sustainable, derived using bio MEG and petroleum derived PTA. Development of 100% bio PTA is a key agenda for this market.
Volatile crude oil prices coupled with global sustainable packaging growth is expected to drive the biobased PET market demand over the next 6 years. US EPA and the European Commission are focusing on reduction of chemical derived products and development of sustainable products such as bioplastics. Favourable regulatory policies are also expected to drive the biobased PET market.
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