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Polyethylene Terephthalate (PET) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A24556
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Polyethylene Terephthalate (PET) Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Polyethylene Terephthalate (PET) | Chemical | USA | 1234 USD/MT |
| Polyethylene Terephthalate (PET) | Chemical | South Korea | 963 USD/MT |
| Polyethylene Terephthalate (PET) | Chemical | Belgium | 1175 USD/MT |
The price of polyethylene terephthalate (PET) in the United States for Q4 2023 reached 1234 USD/MT. USA PET Q4 2023 showed that the demand and supply of PET remained volatile in the course of the year. Weak sales in the initial months of the quarter, due to an excess of supply, coupled with less demand at the end of the supply chain, forced manufacturers to cut prices. Nevertheless, the ability to achieve price stability came later because feedstock was consistent over time.
The price trend for polyethylene terephthalate (PET) in South Korea reached 963 USD/MT in the fourth quarter of December 2023. In Q4 2023, South Korea’s PET market faced margin pressure, with the average price dropping by 8% to USD/ton FOB Busan due to lower crude oil prices. The initial rise in market price was influenced by limited oil availability caused by high import prices. However, restrictions in downstream activities and a pessimistic economic environment subsequently drove the prices down.
In Belgium, polyethylene terephthalate (PET) prices reached 1175 USD/MT. Belgium PET experienced bearish workflow during Q4 of the year 2023 because of significant production costs, lethargic demand, and adequate supply. Some factories slowed down; others shut down their production lines in a bid to control the rising prices occasioned by high feedstock. One of the major reasons is the European Commission’s move to place tariffs on Chinese PET imports as it sought to safeguard local producers.
Polyethylene Terephthalate (PET) Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Polyethylene Terephthalate (PET) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of polyethylene terephthalate (PET) pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of polyethylene terephthalate (PET) price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing polyethylene terephthalate (PET) price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Polyethylene Terephthalate (PET) Market Analysis
The global polyethylene terephthalate (PET) market size reached US$ 33.91 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 53.6 Billion, at a projected CAGR of 5.22% during 2023-2032.
The extensive demand for polyethylene terephthalate in food and beverage packaging, such as carbonated soft drink, is significantly contributing to the growth of the polyethylene terephthalate market. Moreover, the rising demand for bottled beverages and the need to replace glass and metal containers with better alternatives like polyethylene terephthalate due to its versatility is propelling the market growth. According to the Plastics Industry Association, a US-based plastic industry association, plastics manufacturing shipments saw a 0.9% increase in 2020 and observed a 2.2% increase in 2021. The rising demand from the automotive industry is a major growth-inducing factor. In line with this, polyethylene terephthalate (PET) is a versatile thermoplastic polymer used in automobiles due to its versatility, durability, and resistance to various environmental factors. It plays a pivotal role in both the interior and exterior components of modern vehicles, contributing to their performance, safety, and aesthetic appeal. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. In addition to this, according to Brand Finance PLC, a UK-based brand valuation company, in 2022, the automotive sector achieved approximately 78-million-unit sales, marking a substantial 10% increase compared to both 2021 and 2020.Furthermore, key players are adopting approaches like strategic partnership to enhance their capabilities and expand market reach to maintain a competitive edge in the market. For instance, in October 2022, Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced the official opening of its PETValue bottle-to-bottle recycling plant in the Philippines, in partnership with Coca-Cola Beverages Philippines. The plant is IVL’s latest recycled PET facility as the global integrated petrochemicals company builds on its position as the world’s largest producer of recycled resin used in plastic beverage bottles.
Polyethylene Terephthalate (PET) News
The report covers the latest developments, updates, and trends impacting the global polyethylene terephthalate (PET) market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in polyethylene terephthalate (PET) production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the polyethylene terephthalate (PET) price trend.
Latest developments in the Polyethylene Terephthalate (PET) industry:
- In April 2024, Far Eastern New Century Corporation (FENC), a leading global manufacturer in sustainable materials, announced the groundbreaking ceremony for the construction of its green PET resin production facility, FE GREEN PET (M) SDN BHD, located in Malacca, Malaysia. This new construction marked a significant milestone in FENC's commitment to environmental sustainability and innovative solutions for the plastics industry.
- In August 2023, Alpek, S.A.B. de C.V. announced the successful refinancing of the outstanding balance from the 2023 bond due in August with bank debt that includes a US $200 million Sustainability-Linked Loan maturing in 2028. This represents Alpek’s first transaction with an ESG component, reiterating its commitment and progress toward its ESG strategy.
PET is known for its high strength, durability, chemical resistance, good clarity, and lightweight nature, making it ideal for packaging applications. Its toughness, flexibility, and stability make it suitable for numerous industries and situations. Additionally, PET is relatively easy to recycle, which reduces its environmental impact. It has excellent barrier properties, preventing the seepage of gas and moisture, thus preserving product freshness and sustainability. These qualities allow for the creation of thin-walled, robust containers, making PET an ideal material for the consumer products industry.
Product Description
Polyethylene terephthalate (PET) is a thermoplastic polyester polymer which can be used in fabrics, disposable and reusable bottles for beverages and foods, and thermoformed plastics. PET is known for its high strength, durability, chemical resistance, good clarity, and lightweight nature, making it ideal for packaging application. its toughness, flexibility, and stability make it suitable for numerous industries and situations. Additionally, PET is relatively easy to recycle, which reduces its impact on the environment. It has good barrier properties, preventing the seepage of gas and moisture, thus preserving product freshness and sustainability. These qualities enables the creation of thin-walled, robust containers, making PET an ideal material for consumer products industry.
Regional Coverage
The report provides a detailed analysis of the polyethylene terephthalate (PET) market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the polyethylene terephthalate (PET) price trend.
Global Polyethylene Terephthalate (PET) Price
The report offers a holistic view of the global polyethylene terephthalate (PET) pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Polyethylene Terephthalate (PET) Price
In Europe, comprehensiveness did not occur as the PET market trend was bearish due to high production cost, weak demand, and availability of supply. Manufacturers set their machinery at a lower rate as a way of controlling high prices for their products, this was also accompanied by high feedstock costs that were expected in the near future.
This analysis can be extended to include detailed polyethylene terephthalate (PET) price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Polyethylene Terephthalate (PET) Price
The North American PET market has shown fluctuations in the years due to moderate to low supply and high demand for PET bottles. Low downstream packaging use decreased PET demand for resins; and oversupply occurred, it led to sale at a low price. Although the prices of products remained volatile in the initial phase of the policy’s implementation, further improvement and price stability started soon after with regular feedstock supply.
Specific data on polyethylene terephthalate (PET) prices within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Polyethylene Terephthalate (PET) Price
The report explores the Polyethylene Terephthalate (PET) pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on polyethylene terephthalate (PET) prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Polyethylene Terephthalate (PET) Price
Overall, pricing of PET in the APAC region increased and decreased based on the following factors such as moderate to high supply coupled with moderate demand of PET in the region. Lack of this oil and extremely high importation charges first applying pressure to price up the product, later, there was low demand and economic factors such as a bearish market that caused a drop in its price. While some areas maintained its comparatively stable price, others have seen the decline due to decrease in crude oil price.
This analysis can be further extended to include detailed polyethylene terephthalate (PET) prices for a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Polyethylene Terephthalate (PET) Price
The analysis of polyethylene terephthalate (PET) prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Polyethylene Terephthalate (PET) |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Polyethylene Terephthalate (PET) Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of polyethylene terephthalate (PET) pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting polyethylene terephthalate (PET) price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the polyethylene terephthalate (PET) industry.
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