Bio based PET market size over $13bn by 2023

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Bio based PET market size over 13bn by 2023
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-analysis/bio-based-PET-market
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Global Market Scenario of polyethylene
terephthalate production
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 USD 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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Coca-Cola, H.J. Heinz, Nike, Procter Gamble and
Ford Motor have collaborated Plant PET Technology
Collaborative (PTC) for 100 bio polyethylene
terephthalate production acceleration intended
for apparels, technical seat trims, plastic
bottles, floor carpets and footwear. APAC bio
PET marker size, led by China India, was
dominant and accounted for over 32.5 of the
overall demand in 2015. Growing CSD (carbonated
soft drinks) alcohol beverage demand in China
and India have resulted in increased scope for
packaging. Australian government formed (APC)
The Australian Packaging Covenant for sustainable
packaging promotion which may favor on bio-based
PET market growth. The Japanese government has
set a target of 20 bioplastics production in the
plastics market by 2020, which may favor bio
based polyethylene terephthalate market growth
over the next several years.  
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-analysis/bio-based-PET-market F
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Latin America bio PET market size, by
application, 2012-2023 (Kilo Tons)
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