Bio-based PET Market to Grow At a CAGR of 15.32% during the Period 2016 – 2025
Bio-based PET Market: The rising requirement for bio based polyethylene terephthalate for manufacturing different packaging solutions such as bottles is anticipated to spur the growth of this market. Bio-based polyethylene terephthalate is a polyester resin that is naturally derived and is utilized for production of various products like construction goods, automotive interiors, electronics, bottles and packaged goods. The development of these sectors along with regulations in support, is anticipated to boost the growth of the market. One of the biggest consumers of bio-based polyethylene terephthalate has been the United States where the material is widely utilized for the manufacturing of technical and consumer goods and bottles. Factors such as increasing requirement of food and beverages packaging materials that are eco-friendly are anticipated to have a significant impact on the growth of this market. Increasing concerns related to greenhouse gasses along with bioplastics b...