Global Marketing Outlook on PET

  • During 2015–2022, the global market is estimated to grow at 4.8 percent, mainly driven by the APAC PET market
  • The APAC PET market is likely to drive the market through its healthy demand (6.71 percent CAGR) until 2022
  • The key market driving end use is led by the film segment (5.5 percent CAGR), followed by the fiber segment (4.8 percent CAGR) and bottle segment (4.30 percent CAGR)

Demand Market Outlook

Asia has filled the global supply deficit though its capacity expansions (1,5MMT/year) and is expected to drive the PET market through its healthy demand (6.71 percent CAGR) until 2022

Global Market Size

  • By 2022, the global PET market is expected to reach $43.09 billion. The key market driving end use is led by the film segment (5.5 percent CAGR), followed by the fiber segment (4.8 percent CAGR) and bottle segment (4.30 percent CAGR)
  • Asia is expected to witness a high growth rate of approx. 6.71 percent CAGR 
  • Saturated markets, such as the US and Europe, are expected to witness a growth of approx. 2–4 percent CAGR during 2017–2022

Global Capacity–Demand Analysis

  • The PET market has undergone tremendous change from being an oversupplied market to a supply constrained market. The bankruptcy associated with one of the major producers, M&G Group, has resulted around 10 percent of the total PET capacity going offline. Asia has filled this deficit though its capacity expansions (1,5MMT/year) and is expected to drive the PET market through its healthy demand (6.71 percent CAGR) until 2022

Market Outlook 

  • Capacity Dynamics:In 2017, Asia, including Middle East, accounted for approx. 63.2 percent of the total capacity (23.9 MMT/year) and by 2022, it is expected to reach 25.48 MMT/yrear

Capacity Trends

  • APAC: The region has witnessed the healthiest demand and is expected to witness capacity additions of 1.5 MMT/year by 2018
  • Europe: The mature market has seen a modest growth rate; however, capacity addition of 281,000 MT/year is expected by 2020
  • North America: Capacity of 1.1 MMT/year is expected to come online, however, with the recent problems with the M&G Group, the construction remains unfinished without any announcements

Global Demand by Application

By 2022, the global PET market is expected to grow at a CAGR of 4.75 percent. The key market driving end use is led by the film segment (5.5 percent CAGR), followed by fiber segment (4.8 percent CAGR), and bottle segment (4.30 percent CAGR).Asia is expected to drive the PET market through its healthy demand (6.71 percent CAGR) until 2022

Global Trade Dynamics

  • North America:Net importer for the past five years. The level of imports has increased, due to disruption in domestic production
  • Europe: Net importer for the past five years with a trade deficit of 0.1–1 MMT/year. In 2016, deficits have increased with slight uptrend in imports 
  • Asia: Largest exporter, with a consistent trade surplus of 2–3 MMT/year for the past five years 
  • LATAM (Brazil): The region has witnessed steady domestic supply and with the surplus catering to regions in Americas (North and Latin America)