PET in China : An optimistic outlook

Demand for PET is on the rise in China, and production has reached several million tons in a short time span of 5 years. China's demand for PET has been kept on the upward trend and an optimistic atmosphere prevails around the PET (polyethylene terephthalate) industry. Although the rising raw material prices had been exerting adverse influence especially on the packaging sector, food packaging has thus far been the major driver of the development and growth in PET. The growth in demand would continue as the use of PET bottles grows and PET sheets capture more market share from their PVC counterparts. Huge potential of PET bottles used in beer packaging has been forecast in the long run. The short-term development, however, will be hindered by the different touch sense, visual and audio effects provided by PET bottles, consumers' spending psychology and habits, as well as the problem in determining the niche entry point.
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