PET demand to pick up, to grow at 4.3% pa from 2009–2013

02-Nov-09
Overall, world Polyethylene terephthalate (PET) polymer consumption will slow further in 2009 as a result of the global recession. However, it is expected to pick up, growing at an average annual rate of approximately 4.3% during 2009–2013 according to a report by CEH Marketing Research. The largest regional growth is forecast for the Middle East (9.3%), China (4.9%), Central and Eastern Europe (4.3%), India (4.1%), and Africa and Oceania (13.8%). The regions expected to have the most significant change in their PET polymer consumption share worldwide from 2008 to 2013 are North America, Western Europe, the Middle East and Africa as Not only has consumption of PET polymer for solid-state resins slowed in the developed regions, there are limited future capacity investments in these regions compared with the Middle East, Asia (mostly China) and Africa. These latter regions will produce more polyester fibers and PET solid-state resins not only for consumption, but also for export. There are hundreds of PET polymer producers. The major producers (including participation in joint ventures) are China Petrochemical Corporation (Sinopec), Reliance Industries, Formosa Plastics Group, Gruppo Mossi & Ghisolfi, Far Eastern Textile and Alfa Group. Over the last few years, PET use for water bottles has grown at exceptional rates, driving PET solid-state resin demand (and its production)—particularly in the developed regions. Although not nearly as hard hit as chemicals that go into the construction and automobile industries, PET resins were not immune to the economic downturn in 2008. Consumers purchased less bottled water and sodas, “lightweighting” (reduction of PET weight per bottle) of PET containers continued, and PET recycling grew, all contributing to a deceleration in PET demand.
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