The weekly Polyethylene Terephthalate (PET) price report is published in Asia, Middle East, Europe, CIS, the US and Latin America. The reports cover, if applicable to the region, different grades of PET such as bottle, film and fibre, domestic prices, spot prices, production news, feedstock quotes, exchange rates and price history.
The unbiased and informative reports are full of news and analysis, and are a vital tool for those involved in the industry to use to make better informed 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 Q3 2016
In Asia, demand for bottle grade polyethylene terephthalate (PET) chips started to taper off in June, and this trend is expected to continue as the peak demand season for summer in the northern hemisphere comes to an end. Producers may lower their operating rates slightly if the sales-to-output ratio is not optimal to sustain margins.
The exchange rate will influence import values and the direction of PET prices in Europe. Barring unexpected events, market participants expect a flat market thought the third quarter. There are no significant changes expected from the raw material side. Demand picked up in July, and hot weather usually leads to a healthy peak season, which started late. Novapet’s 130,000 tonne/year plant in Barbastro, Spain, has been under maintenance shutdown since June and is scheduled to restart in August.
After an unusually slow summer due to oversupply, the US PET market will likely enter the third quarter with downward pressure on prices. In Latin America, PET demand could ramp up, as South America enters its busy summer season. However, most countries in Latin America are still facing oversupply.
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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.