global biobased polyethylene terephthalate (pet) market industry valued approximately usd 2.64 billion in 2016 is anticipated to grow with a healthy growth rate of more than 11.34% over the forecast period 2017-2025.
The major factor driving the growth is the rising need for acceptable packaging solutions for various items like bottles, boxes, etc. The adoption of the Kyoto Protocol and Montreal Protocol will also add to the demands of biobased products like PET.
The objective of the study is to define market sizes of different segments & countries in previous years and to forecast the values to the next eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as drivers & restraining factors which will define the future growth of the market. Additionally, it will also incorporate the opportunities available in micro markets for stakeholders to invest, detailed analysis of competitive landscape and product offerings of key players. The detailed segments and subsegment of the market are explained below:
- Consumer Goods
- Other Packaging
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, the years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market are M&G Chemicals, PepsiCo, Toray Industries, Teijin Ltd, Plastipak Holdings, The CocaCola Company, Danone, and Toyota Tsusho. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and focuses on continuous technology innovations are also the strategies used. The companies are also trying to dominate the market by investing in research and development.
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