PUBLISHER: Future Markets, Inc. | PRODUCT CODE: 1323308
PUBLISHER: Future Markets, Inc. | PRODUCT CODE: 1323308
Polyethylene terephthalate (PET) is a thermoplastic material used for bottles, films and textile fibres. PET belongs to the polyester group. It consists of 70 percent terephthalic acid and 30 percent monoethylene glycol (MEG) by weight and is frequently used in the packaging sector. Bio-PET is a fast-growing segment of the PET market supported by strong demand drivers.
For bio-PET, MEG is produced from renewable raw materials from plants instead of fossil raw materials. Bio-PET can easily be applied in products and processed through existing recycling streams without issues. The shift to bio-based PET enables brands across industries to offer renewable plant-based plastic alternatives and reduce reliance on fossil fuel-derived PET.
Demand is forecast to exceed 2.5 million metric tons by 2034. Packaging remains the dominant application at over 70% of bio-PET consumption. Bottles for water, soft drinks, food, cosmetics are key products. Textiles are the second largest application as brands adopt bio-PET polyester fibers for sustainability. Asia Pacific is the main regional market for bio-PET.