Report says global biobased PET market size may reach $13.1 billion by 2023

September 20, 2016 |

In Delaware, a new report from Global Market Insights Bio based Polyethylene Terephthalate (PET) Market size was 496.0 kilo tons in 2015, as per the latest research report by Global Market Insights, Inc. Growing concerns towards GHG emissions coupled with bioplastics emergence as an alternative in packaging and automotive industry may stimulate global bio based PET market size.

Global biobased PET market size may generate $13.1 billion by 2023. Increasing importance of sustainable packaging, especially in China and India, may positively influence bio based polyethylene market size growth. Key Industry participants, The Coca-Cola Company and Toray, have formed strategic partnerships with bio based product manufacturers such as Gevo and Virent, for the development 100% bio PET.

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