Bio Based Paraxylene Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Bio-Based Paraxylene Market: Overview

The making of the bio-based paraxylene includes the use of the renewable raw materials such as starch, glucose, vegetable oils, and cellulose. The benefit of using such type of raw materials is they can be recycled and can be reused. There is an increasing use of the bio-based paraxylene in the bio-based plastic applications and PET bottles.

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Bio-Based Paraxylene Market: Facts

The market player Coca-Cola has introduced a hundred percent plant-based PET bottle. The Coca-Cola is the popular player in the PET industry and this advancement made by the company is really noteworthy. The Virent’s bio-based paraxylene was used in the process of making the plant-based PET bottle.

Bio-Based Paraxylene Market: Growth Factors

The increasing environmental concerns, the growing awareness regarding the petrochemical products, and the rise in the demand for the bio-based substitutes are the major factors that are driving the bio-based paraxylene market. The increasing consumption of the packaging solutions and the steady demand for the PTA is positively impacting the growth of the biobased paraxylene market. The rise in the prices of resin coupled with the increasing concerns about the harmful nature of the petrochemical-based PX has forced the manufacturers to focus on the development of the bio-based paraxylene. The increasing demand for the bioplastics PET resin in the manufacturing of the bottles of the soft drinks has boosted the demand for the bio-based paraxylene market. In the recent years, the prices of the crude oil are constantly changing which is used as a raw material for the paraxylene thus increasing the demand for the materials that are obtained from renewable sources. The factors that are limiting the growth of the market are the complex nature of the manufacturing process and the technological limitations.

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Bio-Based Paraxylene Market: Segmentation

The global market for the bio-based paraxylene is fragmented into its application and the end-user industry. Based on the application, the global market is segregated into bio-based polyethylene terephthalate, polybutylene terephthalate, bio- terephthalic acid, polytrimethylene terephthalate, and others. Based on the end-user industry, the market is categorized into Packaging, Food and Beverage, and other types of applications where plastics are used.

Bio-Based Paraxylene Market: Regional Analysis

The region that is having a significant share in the bio-based paraxylene market is the North America. There are huge investments being made in the research and development activities for the development of the product. The European regions have a great potential for the development of the bio-based paraxylene market. In the European countries, the strict REACH regulation has been implemented which deals with the burning and the manufacturing of the petrochemicals which will have a positive impact on the bio-based paraxylene market. In the Asia Pacific region, there has been a shift in the adaptation of the petrochemical paraxylene thus increasing the consumption of the petrochemical paraxylene. In Japan, increased investments are being made in the chemical sector thus positively affecting the growth of the market.

Bio-Based Paraxylene Market: Competitive Players

The key market players that are involved in the bio-based paraxylene market include Renmatix, Inc., Origin Materials, Avantium, Toray Industries, Inc., Virent, Inc., Anellotech, Inc., GEVO, BASF SE among others.

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Bio-Based Paraxylene Market: Regional Segment Analysis

  • North America
    • S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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