10 May 2013 11:17 [Source: ICIS news]
TAIPEI (ICIS)--The overall demand growth for polyethylene terephthalate (PET) bottle grade chips in Asia is expected to remain at 8% in the near term, industrial players said on Friday.
“[The growth rate] in China, the largest market in Asia, has slowed from 12-15% three years back to around 8-9% now,” said a northeast Asian producer.
“The current demand growth rate for PET bottle chip is estimated to be around 8% in Asia and 5-8% globally,” said a global leader in the beverage industry, Coca Cola.
In the near term, market participants expected the growth rate to remain largely stable at a high single digit level.
However, in medium term, some players expected possible further declines in key Chinese market, the largest consumer base in Asia.
“There might be a possibility that growth rate in China slows down further to around 6-7% in three years’ time,” a northeast Asia producer said.
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