68% annual growth through 2019 seen for biobased PET market:
The bio-based part of PET , is currently bio-MEG, with many companies making progress to achieve commercialization of the other component, namely bio-PTA.
Bio-Based PET it is recognized again as being the main drive for many companies interested in bio-diversity. Predicted growth is a recognition of major companies efforts to support and develop a growing bio-economy.
Anellotech, Coca Cola, Gevo, PepsiCo & Toyota Tsusho in the mix In Ireland, Research and Markets analysts forecast a huge 68.25 CAGR of 68.25% over the period 2014-2019 for the biobased PET market, which is the explosive takeaway headline from their “Global Bio-based Polyethylene Terephthalate (PET) Market 2015-2019″ report. R&M also focused in on “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, Ford, Heinz and Toyota are collaborating on the PlantBottle, for example, which aims to foster the manufacture of 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. The report focuses of key vendors such as Anellotech, Coca Cola, Gevo, PepsiCo, Toyota Tsusho while not quite catching up with Virent’s activity in the space. Also highlighted the afore-mentioned Ford Motors, H.J. Heinz, Nike, and Procter & Gamble, plus Plastipak.