Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Global Bio-PET Film Market Size, Share & Trends Analysis Report by Type (Laminating Film, Universal Film, Electrical Insulating Film, Capacitor Film), Application, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global bio-PET film market is anticipated to reach USD 156.6 million by 2030 and is anticipated to expand at a CAGR of 12.6% from 2024 to 2030.
Growing environmental concerns about plastic waste and its effects on water and soil pollution are expected to be important drivers for market growth. Furthermore, numerous countries have implemented restrictions on traditional and single-use plastics, which are projected to boost demand for bio-polyethylene terephthalate (PET) films in the upcoming years.
Furthermore, the global push toward reducing the dependence on fossil fuels is driving the adoption of the bio-PET film market. Traditional PET films are derived from petroleum-based feedstock, contributing to carbon emissions and finite resource depletion. In contrast, bio-PET films, sourced from renewable materials, offer a solution that reduces reliance on fossil fuels. The imperative to transition toward bio-based alternatives is a driving force for the market as it aligns with broader initiatives to mitigate climate change and reduce the environmental footprint associated with conventional plastics.
Moreover, advancements in waste management technologies and infrastructure contribute significantly to the adoption of bioplastics. The integration of bioplastics into waste management systems is becoming more feasible with the development of advanced composting facilities and recycling processes. In addition, economic factors such as the fluctuating oil prices and volatility in the petrochemical industry contribute to the adoption of bio-PET film as a more stable and sustainable alternative.
Bio-PET Film Market Report Highlights
- Packaging application dominated the source segment with more than 38% share in 2023. This is due to the growing use of bioplastics in the packaging sector, which is being driven by rising demand from the electrical & electronics and food industries
- The electrical & electronics application segment is expected to grow at a significant CAGR over the forecast period
- The laminating film type segment held the largest market share of 37.12% in 2023. bio-PET films provide environmentally friendly and recyclable solutions for laminating various packaging materials. They offer clarity, strength, heat resistance, and high adherence to the product making them ideal for a variety of laminating applications
- Rising concerns about climate change and carbon footprint reduction contribute to the increasing adoption of bio-PET films. Traditional plastics derived from fossil fuels are associated with significant carbon emissions during production and disposal. In contrast, bio-PET films, especially those produced from agricultural feedstock, often have a low carbon footprint
- Asia-Pacific dominated the bio-PET film market. The role of financial incentives and subsidies provided by governments and regulatory bodies is driving the adoption of Bio-PET films in the region. Many countries are implementing policies that encourage the use of environmentally friendly materials by offering financial support, tax credits, or other incentives to businesses that adopt Bio based plastic films
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $68.73 Million |
| Forecasted Market Value (USD) by 2030 | $156.6 Million |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Bio-PET Film Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Regulatory Framework
3.4. Market Dynamics
3.5. Industry Analysis Tools
Chapter 4. Bio-PET Film Market: Type Estimates & Trend Analysis
4.1. Type Movement Analysis & Market Share, 2023 & 2030
4.2. Bio-PET Film Market Estimates & Forecast, by Type, 2018 to 2030 (Tons) (USD Million)
4.3. Laminating Film
4.4. Universal Film
4.5. Electrical Insulating Film
4.6. Capacitor Film
4.7. Others
Chapter 5. Bio-PET Film Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2023 & 2030
5.2. Bio-PET Film Market Estimates & Forecast, by Application, 2018 to 2030 (Tons) (USD Million)
5.3. Packaging
5.4. Printing
5.5. Decoration
5.6. Electrical & Electronics
Chapter 6. Bio-PET Film Market: Regional Estimates & Trend Analysis
6.1. Regional Movement Analysis & Market Share, 2023 & 2030
6.2. North America
6.3. Europe
6.4.4. India
6.5. Central & South America
6.6. Middle East & Africa
Chapter 7. Bio-PET Film Market - Competitive Landscape
7.1. Recent Developments & Impact Analysis, by Key Market Participants
7.2. Company Categorization
7.3. Company Market Share/Position Analysis, 2023
7.4. Company Heat Map Analysis
7.5. Strategy Mapping
7.6. Company Profiles
- Arkema Group
- Toray Industries
- Polyplex
- Teijin Ltd
- Kuraray
- Qingdao Kingchuan Packaging
- Far Eastern New Century Corporation
- Plastipak Holdings
- Anellotech
- Indorama Ventures Public Company Limited
- Carbios
- NatureWorks
- UFlex Limited
- FKuR
- Saipet Samartha Private Limited
- Iwatani Corporation
- LOTTE Chemical Corporation
For more information about this report visit https://www.researchandmarkets.com/r/2sjvit
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