The introduction of Bioplastics as an alternative in the packaging and automotive industries, along with growing concerns about greenhouse gas emissions, are anticipated to have a significant impact on growth in the near future. In addition, during the next nine years, it is anticipated that the growing demand for sustainable packaging, particularly in China and India, will have a favourable effect on the industry. In recent years, 30% bio-based MEG and 70% petroleum-based PTA have made up the majority of bio-based PET. However, businesses have been spending a lot of money on research to create 100% bio-based PET that includes bio-based MEG and naturally occurring PTA.
In the near future, Bio Based Polyethylene Terephthalate Market growth is anticipated to be hampered by the emergence of replacements like PEF. The Coca-Cola Company and Avantium inked a contract in December 2011 for the development of PEF, which has a higher glass transition temperature and greater thermal stability than bio-based PET. This aspect is anticipated to lead to other businesses using PEF, which will impede growth during the following nine years.
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