Southeast Asia Bio-PET Market Size (2024 - 2029)

The Southeast Asia bio-PET market is anticipated to experience growth, driven by increasing environmental concerns and a shift towards sustainable materials. Despite challenges posed by the COVID-19 pandemic, which disrupted production and demand, the market has shown resilience and recovery. The focus on renewable resources presents opportunities for expansion, although the development of alternative materials like Polyethylene Furanoate (PEF) may pose challenges to market growth.

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Market Size of Southeast Asia Bio-PET Industry

Southeast Asia Bio-PET Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.00 %
Market Concentration Medium

Major Players

Southeast Asia Bio-PET Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Bio-PET Market Analysis

The Southeast Asia bio-PET market is expected to register a CAGR of over 5% during the forecast period of 2022-2027.

The COVID-19 pandemic has significantly impacted the bio-PET market by affecting production and demand, creating supply chain and market disruptions, and financial impact on firms and financial markets. COVID-19 has led to negative consequences in the Bio-PET manufacturing market. However, the market has recovered in the two years, and companies have formulated strategic decisions to gain a competitive edge.

  • Over the short term, the major factors influencing the market are the growing concern about greenhouse gas emissions and environmental factors promoting the paradigm shift, likely to increase the demand for Bio-PET during the forecast period.
  • However, the development of Polyethylene Furanoate (PEF) will likely restrain market growth.
  • Nevertheless, focusing on renewable sources will likely act as an opportunity over the forecast period.

Southeast Asia Bio-PET Industry Segmentation

Bio-polyethylene terephthalate is 100% recyclable and made from renewable raw materials. Polyethylene terephthalate (PET) is a thermoplastic material used for bottles, films, and textile fibers. It comprises 70 percent terephthalic acid and 30 percent mono ethylene glycol (MEG) by weight and is often used in packaging. For bio-PET, MEG is made from renewable raw materials from plants instead of fossil raw materials. The Southeast Asia bio-PET market is segmented by application and geography. By application, the market is segmented into bottles, packaging, consumer durables, furniture, films, and other applications. The report covers the market size and forecast for the Southeast Asia bio-PET market in 5 countries across Southeast Asia regions. For each segment, the market size and forecasts have been done based on revenue (USD million).

Application
Bottles
Packaging
Consumer Durables
Furniture
Films
Other Applications
Geography
Indonesia
Singapore
Philippines
Thailand
Malaysia
Rest of Southeast Asia
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Southeast Asia Bio-PET Market Size Summary

The Southeast Asia bio-PET market is poised for significant growth, driven by increasing environmental concerns and a shift towards sustainable packaging solutions. The market has shown resilience in the aftermath of the COVID-19 pandemic, which had previously disrupted production and demand. Companies in the region have strategically adapted to regain their competitive edge, focusing on the use of renewable raw materials to produce bio-PET. This shift is particularly evident in the soft drink industry, where major players like PepsiCo and Coca-Cola are investing heavily in bio-PET production to meet the rising demand for eco-friendly packaging. Despite potential challenges from the development of alternative materials like Polyethylene Furanoate (PEF), the market is expected to benefit from opportunities in renewable resource utilization.

The bio-PET market in Southeast Asia is further bolstered by supportive government policies and initiatives, particularly in Indonesia, where there is a strong push to reduce marine litter through the adoption of bioplastics. This governmental support, coupled with efforts from industry stakeholders to establish PET recycling facilities, is expected to drive market expansion. The market is characterized by a partial consolidation, with key players such as Indorama Ventures, The Coca-Cola Company, and Toray Industries leading the charge. Strategic partnerships and investments in recycling infrastructure, such as the joint venture between Indorama Ventures and Coca-Cola Beverages Philippines, are set to enhance the market's growth trajectory, positioning Southeast Asia as a significant player in the global bio-PET landscape.

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Southeast Asia Bio-PET Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 The Growing Concern about Greenhouse Gas Emissions

      2. 1.1.2 Environmental Factors Promoting the Demand for Bio-PET

    2. 1.2 Restraints

      1. 1.2.1 The Development of PEF (Polyethylene Furanoate) May Hinder Market

      2. 1.2.2 Low Melting Point Hinders Usage in Some Applications

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Bottles

      2. 2.1.2 Packaging

      3. 2.1.3 Consumer Durables

      4. 2.1.4 Furniture

      5. 2.1.5 Films

      6. 2.1.6 Other Applications

    2. 2.2 Geography

      1. 2.2.1 Indonesia

      2. 2.2.2 Singapore

      3. 2.2.3 Philippines

      4. 2.2.4 Thailand

      5. 2.2.5 Malaysia

      6. 2.2.6 Rest of Southeast Asia

Southeast Asia Bio-PET Market Size FAQs

The Southeast Asia Bio-PET Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Indorama Ventures Public Company Limited , The Coca-Cola Company , Toray Industries , PepsiCo and Toyota Tsusho are the major companies operating in the Southeast Asia Bio-PET Market.

Southeast Asia Bio-PET Report Snapshots

Southeast Asia Bio-PET Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)