Polyethylene terephthalate Prices, markets & analysis
ICIS provides independent and unbiased pricing information, news and market analysis for the global Polyethylene terephthalate market. Our network of price reporters, based in Asia, Europe and the US, deliver local insight for each of these markets, which is published in our individual weekly and daily price reports.
If you buy or sell Polyethylene terephthalate or related products, our reports, news and market intelligence will give you the prices and analysis of the factors driving the prices that you need to make confident commercial decisions.
Polyethyene terephthalate PET Overview Transcript
Polyethylene terephthalate resin or PET in the US is primarily used in the manufacture of carbonated soft drinks and water bottles, as well as in different food packaging applications.
Paraxlyene and ethylene glycol are the major intermediates for PET.
Feedstock costs are correlated to crude oil prices, as well as to the global supply and demand balances.
Prices for PET have previously risen to near record highs on strong crude oil prices and cotton shortages, which tightened the market for polyester intermediates globally. Consolidation is expected to bring greater pricing power and margins for US PET producers.
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Polyethylene terephthalate: Market overview
Updated to Q4 2015
The Asian polyethylene terephthalate (PET) market is expected to slow down in the fourth quarter. For bottle-grade PET chips, the expected better demand from the southern hemisphere, which is entering summer, is unlikely to make up for the dip in sales to the northern hemisphere, which is entering winter, considering that the southern hemisphere is a smaller market than the northern hemisphere for most Asian sellers. The typical slowdown in the fourth quarter for downstream fibre manufacturing is also expected to put pressure on fibre-grade PET prices.
Quarter four began with PET maintenance programmes and European sellers selling out fast. October prices mostly looked stable to firm, depending on the starting point, as producers tried to improve margins. Q4 is the low season, but there is usually an opportunity to prebuy for the following year. November and December should see the arrival of imports that may result in disappointing demand for domestic product.
The US PET market for the rest of 2015 is likely to see softening demand and flat-to-soft pricing. The US PET market is ramping down from the busy summer season, and fall is when PET demand tends to decline. In addition, feedstocks have been softening, further pushing PET values down.
Although PET demand in Latin America is about to hit its peak demand season, a myriad of economic issues in several countries will likely keep demand soft-to-stable. Sources have said the pre-buying usually seen ahead of the busy season has not occurred due to buyers wanting to hold out for lower prices. Indications are that economic issues could offset potential gains from seasonal demand.
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Polyethylene Terephthalate Methodology
About Polyethylene terephthalate
Polyethylene terephthalate (PET) has a crystalline structure and good chemical resistance to mineral oils, acids and solvents but not to bases. It has good electrical resistance, low moisture absorption; it resists combustion and is self-extinguishing.
PET exists both as an amorphous (transparent) and a semi-crystalline (opaque and white) thermoplastic, and can be made into either a resin or a film. The semi-crystalline PET has good strength, stiffness and hardness while the amorphous PET has better ductility.
PET can be made into a resin, fibre or film. The largest outlet is synthetic fibres, followed by bottle resin. PET film is used in electrical applications and packaging.
In the manufacture of PET resins, purified terephthalic acid (PTA) and monoethylene glycol (MEG) are reacted to make a basic ester which is polymerised in a melt phase, polycondensation finishing reactor.
Dimethyl terephthalate (DMT) is an alternative feedstock to PTA but the PTA route is preferred. The molten polymer is extruded, cut into chips and cooled. The chips pass to a solid state polycondensation unit to form the PET resin.