Global Bio-based Polyesters Market was valued at USD 0.25 Billion in 2022 and is projected to reach USD 0.60 Billion by 2030, growing at a CAGR of 10.7% from 2024 to 2030.
The Bio-based Polyesters Market has seen a surge in interest as industries shift towards more sustainable materials. As the world becomes more eco-conscious, the demand for bio-based alternatives to traditional petroleum-based polyesters has grown rapidly. Bio-based polyesters are produced from renewable sources, such as plant-based materials, offering a greener alternative to their petroleum counterparts. These bioplastics are becoming an essential part of the global push for sustainable development, with their applications spanning from packaging to automotive components.
One of the key driving forces behind this market growth is the increasing consumer demand for eco-friendly products. As awareness about environmental issues like plastic pollution rises, consumers and businesses alike are looking for more sustainable alternatives. The Bio-based Polyesters Market is expected to reach significant growth as industries like fashion, automotive, and consumer goods turn to bio-based polyester fibers and resins to meet both regulatory and consumer demand.
The production of bio-based polyesters, especially polylactic acid (PLA) and polyhydroxyalkanoates (PHA), is growing rapidly. These materials are derived from renewable sources like corn starch, sugarcane, and other plant-based feedstocks, and their potential to replace petroleum-based plastics is enormous. PLA, for instance, is biodegradable, reducing the environmental impact of waste disposal.
Major companies in the bio-based polyester market are investing heavily in research and development to enhance the efficiency and scalability of these materials. Several startups are also emerging, driving innovation in the bio-based plastics sector. Governments worldwide are also providing incentives to promote the use of bio-based materials, including bio-based polyesters, which further propels the market's growth.
Despite the promising outlook, challenges remain. Production costs for bio-based polyesters are still relatively high compared to petroleum-based plastics, and the availability of raw materials can sometimes be a bottleneck. However, advancements in technology and production processes are expected to drive down costs, making bio-based polyesters more accessible and affordable in the near future.
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Toray
Plastipak Holdings
Indorama Ventures
Teijin
Anellotech
Far Eastern New Century
Toyota Tsusho
Coca-Cola
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Bio-based Polyesters Market
Packaging Industrial
Automotive Industrial
Electronic Industrial
Textile Industrial
Others
Based on Types the Market is categorized into Below types that held the largest Bio-based Polyesters market share In 2023.
PET
PBT
PTT
PLA
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Bio-based Polyesters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Bio-based Polyesters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Bio-based Polyesters Market, By Type
6. Global Bio-based Polyesters Market, By Application
7. Global Bio-based Polyesters Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Bio-based Polyesters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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