Global PET Supply/Demand 2020 - 2025
The current edition of PETnology's "Month in Charts" series - a service from SBAcci - shows a stable growth rate of 5.2% for 2021-2025, for global PET packaging resin production. The growth rate is supported by the solid demand from the areas of beverages, food, and consumer products, according to SBAcci.
- Global PET production growth rates are forecast to remain strong averaging 5.2% over the 2021-2025 timeframe.
- Continued good demand from beverage, food, and consumer products is supporting global production demand.
- Global PET production rates include rPET which will continue to grow as supply allows.
- With strong demand growth and positive cash flow for PET producers in most regions, new PET project announcements are now coming to the market to support growth.
- Our 5-year forecast is for global PET operating rates to remain in the high 70% - low 80% range helping support demand growth.
- North American PET resin margins improved in 2021
- North American PET margins remain positive
- North American PX margins have improved from Q4 2020
- North American MX margins also remain positive
- Chinese/Asian PET resin margins have significantly improved from 2020 levels
- Chinese/Asian PTA margins have improved to breakeven to positive levels for February-March as utilization rates have been reduced to support spreads
- Chinese/Asian PX-MX margins remain at or below cash cost due to over supply in the region
- Chinese/Asian MX margins remain positive and improved from Q4 2020 levels
- EU PET resin margins have improved primarily due to PET supply issues caused by regional PTA production issues
- EU PTA margins remain positive
- EU PX margins remain at or below cash cost
- EU MX margins remain positive and improved from Q4 2020
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