VIDEO: Upwards pressure on Europe PET, new MEG capacity anticipated

LONDON (ICIS)–Rising seasonal demand and upstream paraxylene (PX) costs are putting upwards pressure on polyethylene terephthalate (PET) prices in Europe.

Meanwhile, the delayed start of new monoethylene glycol (MEG) capacity may result in a more balanced market than expected.

Caroline Murray, editor of the ICIS PET report discusses the dynamics of these markets with Melissa Hurley, editor of the MEG report.

Recorded on 14 February 2019 – Indorama Ventures lifted the force majeure from its Rotterdam plant on 12 February.

PET is used in fibres for clothing, containers and bottles for liquids and foods, thermoforming for manufacturing, and in combination with glass fibre for engineering resins.

MEG is mainly used in the production of polyester fibres, resins and films (around 80% of global consumption), followed by use in (PET) resin. It also used as automotive antifreeze.

The 2019 ICIS PET Value Chain conference will take place 12-13 March at the Amsterdam Marriott Hotel, the Netherlands.