Bio-PET refers to a type of PET (polyethylene terephthalate) plastic that is made from renewable, plant-based materials such as sugarcane, corn starch, and other bio-based sources. Unlike traditional PET, which is derived from fossil fuels, bio-PET is a more environmentally sustainable option, as it reduces reliance on non-renewable resources and helps to reduce carbon emissions.
Bio-PET has several applications, including bottles, textiles, automotive, and consumer goods. It also has good barrier properties, which help to protect the contents from oxygen and moisture. The bottles segment dominates the market as Bio-PET is widely used for water packaging, various beverage packaging, juice packaging, beer containers, food containers, and other applications. It is likely to dominate during the forecast period as well. During the forecast period, all of these factors contribute to the growth of the global bio-based polyethylene terephthalate market.
The Coca-Cola Company and Suntory unveil their first beverage bottle prototypes made up of 100% bio-PET. The fully recyclable prototype plant-based bottle is estimated to significantly lower carbon emissions compared to existing petroleum-based bottles.
Asia Pacific holds the largest share of the Bio-PET market. Key companies in China and India are increasing their Bio-PET production capacity to cater to the growing demand. The region’s market is driven by the high consumption of alcoholic beverages and carbonated soft drinks which will positively impact the Bio-PET market.
Mitsui & Co. is planning to build a 400 thousand tons Bio-PET plant in the US which is set to start operations by 2025.
Origin Materials and Indorama Ventures announced a partnership on May 1, 2023, to accelerate the mass production of bio-based materials. These materials will include bio-PTA, bio-PET, and advanced bio-FDCA.
Carbios is set to build a manufacturing plant for fully bio-recycled PET in partnership with Indorama Ventures which is set to start production by 2025.
Bio-based plastics help in minimizing the environmental impact of car production by further reducing CO2 emissions and energy use. Additionally, materials such as bio-PET feature all the performance criteria to produce high-quality car components. The rising awareness about the benefits of bio-PET, the increasing preference for eco-friendly materials, and the stringent government regulations regarding the use of traditional plastics will boost the market for bio-PET in the Automotive sector.
Bio PET can be utilized for manufacturing various interior components, such as seat fabrics, carpeting, headliners, and door panels. It offers similar performance characteristics as conventional PET but with a reduced environmental impact. With the rise of EVs, bio-PET can be used in battery components. It can be used in battery casings, insulation materials, and separators, providing electrical insulation, thermal stability, and protection for the battery system.
Many automotive manufacturers are aiming to reduce the weight of their vehicles to make them more fuel-efficient. Toyota was the first company to incorporate bioplastics in their vehicle production. Hyundai’s IONIQ 5 uses fabric made up of bio-PET yarns for interior ceiling finishing materials, seat covers, floor mats, and floor carpets are made of fabrics that have been extracted from sugar cane and corn.
Bio-PET has many advantages as an eco-friendly and sustainable alternative to traditional PET plastic, but it also has some disadvantages. Bio-PET is currently more expensive to produce than traditional PET plastic. This is because the production process for bio-PET requires the use of renewable feedstocks, which are more expensive than fossil fuels. As a result, products made from bio-PET can be more expensive for consumers.
While bio-PET is biodegradable, it requires specific conditions to break down properly. For instance, it needs to be composted in an industrial composting facility, which is not available in all areas. If it is not properly composted, it can still contribute to plastic waste in the environment.
Need help
How can we help you?
Reach us with your research requirements and we shall provide the optimum solution to suit your needs.