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Dublin, July 22, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/qcjzlr/global_biobased) has announced the addition of the "Global Bio-based Polyethylene Terephthalate (PET) Market 2015-2019" report to their offering.
In 2014, Germany was the major contributor to the market, followed by Asia, the US, and Brazil.
The analysts forecast the global bio-based PET market to grow at a CAGR of 68.25% over the period 2014-2019.
The report, Global Bio-based PET Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from various industry experts. The report includes a comprehensive discussion on the market, an extensive coverage on various applications, and end-uses and composition of bio- based PET. The report provides comments on both the existing market landscape and the growth prospects in the coming years.
Raw materials constitute a major part of the production cost for manufacturers. Vendors are exposed to the volatile prices and inconsistent availability of raw materials. To secure themselves from any kind of price or availability shocks, companies often tend to forge long-term sourcing agreements or venture out into acquiring captive sources of raw materials. There is also a growing trend of textile manufacturers acquiring strategic stakes in the supplier firms to have better control on quality of input materials. Coca-Cola, Nike, and Toyota have collaboratively formed a company named PlantBottle, where they manufacture bio-based PET bottles.
According to the report, strong advertising campaigns and promotional activities in the Cola sub-segment have helped this category perform better than the other categories in the segment. Pricing activity will be a key factor in the future as consumers opt for the best deals. Coca-Cola, Nike, and Toyota have collaboratively formed a company named PlantBottle that manufactures bio-based PET bottle, which is the first fully-recyclable PET plastic beverage bottle made using 30% bio-based material, which will result in a smaller carbon footprint. The global CSD bottle market is expected to grow at a significant rate during forecast period, as shown in the graph.
Further, the report states that volatility in prices of crude and petrochemical intermediaries such as PTA, which is a major raw material in the production of bio-based PET, is one of the major challenges.
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For more information visit http://www.researchandmarkets.com/research/qcjzlr/global_biobased
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