Bio-naphtha is projected to reach cost parity with fossil naphtha by 2031 at scale, reducing the green premium on bio-based chemicals. This cost convergence supports wider adoption of bio-based PET production, easing feedstock cost pressures and potentially lowering bio-PET prices relative to conventional PET.
Corn futures rose to their highest level in over three years, driven by tighter U.S. supply expectations following a USDA WASDE report that cut yield forecasts more than anticipated, along with continued disruptions to Ukrainian grain exports constraining global supply. Extreme July heat and excessive rainfall across the U.S. Corn Belt further pressured crop outlooks, while European drought reduced regional production and boosted import demand, reinforcing the upward price momentum.
During Q2 2026, Asian Bio-Based PET markets followed a firm-to-softer pattern, with the strongest cost pressure concentrated in April and early May. Bio-based ethylene glycol availability remained commercially active, but higher glycol replacement costs and crude-linked petrochemical expenses increased the production burden for partially bio-based PET manufacturers. Middle East supply disruptions also affected regional naphtha and energy availability, raising transportation and processing costs across the wider PET chain. Stronger conventional PET economics during the early part of the quarter reinforced this upward pressure and supported firmer replacement values for sustainable PET materials. Conditions became more balanced during May as buyers shifted toward requirement-based procurement rather than inventory accumulation. By June, easing crude concerns and softer virgin PET conditions reduced some of the earlier production-cost pressure. Demand from beverage bottles, food packaging and brand-led sustainability programs remained steady, helping prevent a sharper correction.
Analyst Insight
According to Procurement Resource, Bio-Based PET prices are expected to remain broadly stable to slightly soft as easing petrochemical costs offset steady sustainability-driven demand and bio-based feedstock requirements.
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Bio-based PET prices in Asia moved upward during Q1’26, primarily driven by rising feedstock costs and tightening supply fundamentals. The market remained relatively balanced during the early part of the quarter before accelerating sharply in March as crude oil volatility intensified following disruptions affecting Strait of Hormuz trade flows. Higher PX, PTA, and MEG costs significantly increased production expenses throughout the polyester chain, while some producers reduced operating rates to around 69-70%, limiting material availability. Inventory levels remained low at only 7-8 days, further supporting the upward trend. Downstream demand from beverage packaging and consumer goods improved during the traditional peak season, while export activity provided additional support. By the end of the quarter, market momentum strengthened further as weekly gains in the PET chain approached ~30%, although buying activity moderated toward the end of the quarter as consumers adjusted purchasing volumes in response to rapid increases.
Analyst Insight
According to Procurement Resource, Bio-based PET prices in Asia are expected to remain firm in the near term, supported by feedstock uncertainty and relatively tight inventories.
Bio-Based PET is a polyester polymer partially or fully derived from renewable biological feedstocks such as sugarcane, corn, or other biomass resources. Most commercial Bio-PET contains bio-based monoethylene glycol (Bio-MEG) combined with terephthalic acid. It offers the same mechanical strength, transparency, recyclability, and processing characteristics as conventional PET while reducing dependence on fossil resources and lowering the product’s carbon footprint.
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Braskem, Indorama Ventures, Toray Industries, Teijin Limited M&G Chemicals, FarEastern New Century
Bio-PET, Bio-Based Polyethylene Terephthalate , Biomass PET , Plant-Based PET, Renewable PET
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Bio-Based PET is produced by : converting renewable biomass feedstocks such as sugarcane into bioethanol, which is subsequently dehydrated to bioethylene and oxidized to bio-based monoethylene glycol (Bio-MEG). Bio-MEG is then reacted with purified terephthalic acid (PTA) or dimethyl terephthalate (DMT) through esterification and polycondensation processes to form Bio-PET resin. The resulting polymer possesses properties nearly identical to conventional PET.
Bio-Based PET is extensively used in beverage bottles, food packaging containers, thermoformed trays, films, textile fibers, automotive components, and consumer goods packaging. The material is favored by food and beverage, personal care, textile, and consumer product industries due to its durability, barrier properties, recyclability, and reduced environmental impact compared with petroleum-derived PET. It can be processed using existing PET manufacturing and recycling infrastructure.
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