Published August 2015
Polyethylene terephthalate (PET) solid-state resins belong to the broad generic class of high-molecular-weight condensation polymers known as thermoplastic polyesters. They are derived from PET melt-phase resins (also referred to as polyester melt) that are further polymerized (solid-stated) before use and therefore have a higher intrinsic viscosity. This report concentrates primarily on the supply/demand picture for PET solid-state resins used in bottle and packaging applications.
The following pie chart shows world consumption of polyethylene terephthalate (PET) solid-state resins:
About 23% of global consumption is attributed to the Chinese market alone, which has exhibited exceptionally large growth of 15% annually, on average, since 2009. At the same time, quite healthy demand growth was also registered in the Indian subcontinent (16.6% per year) and Africa (12.6% per year), while almost stagnating and even decreasing consumption of PET resins was seen in more mature markets such as North America and Western Europe. This was mainly because of an ongoing trend of light-weighting and generally weaker demand in some economies.
The analysis of the respective markets for PET solid-state resins in each region reveals certain preferences. While the production of beverage containers accounts for only about 35% of the total consumption in Canada, the average for almost all other regions is around 80%, based on 2014 estimates, and some countries are even reaching 100%. Other PET applications such as film and sheet are most dominant in markets such as Taiwan, North America, Japan, and China, where they consume about 18–21% of the total PET resin requirement. For the third-largest end-use segment, food packaging, the highest consumption shares are registered in Taiwan (14%), Mexico (11%), and Western Europe (10%).
Globally, the production of beverage containers is the largest end use for PET resins, accounting for about 78% of total consumption in 2014, only slightly less than in the recession year 2009. Other PET applications such as film and sheet, on the other hand, now make up a slightly higher share than in 2009, driven primarily by developments in China and the Middle East. Changes for the remaining end-use segments have been very minor, with food packaging consuming about 6% of the total requirement and cosmetics and pharmaceuticals with about 1% each.
Future growth in PET solid-state resins consumption will continue to be driven by the two largest end-use segments, beverage containers and other PET applications, which are projected to expand at healthy average annual rates of about 4% and 4.6%, respectively. Overall, the breakdown of PET resin consumption is not expected to change much during the forecast period to 2019.