Polyethylene Terephthalate (PET) Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Polyethylene terephthalate (PET) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

For the First Quarter of 2022


Due to high demand and increasing cost pressure from upstream PTA, PET prices in the Asian market were stable. Consumer demand for PET bottles in the food and beverage industry has been on the rise as the Northern hemisphere gears up for the summer months. As a result, prices in China were estimated at 1280 USD/MT on CFR basis as of the second week of March. PET prices in India rose by 4.5% in the last few weeks, to 1420 USD/MT on CFR basis.


PET prices rose in Europe due to strong demand and tight supply, as well as increased pricing pressure from upstream olefins and others. The price of feedstock PTA (purified terephthalic acid) had also been high in the domestic market. Exporters were discouraged from bringing goods to European coastlines because of increased freight costs, and imports of PTA became prohibitively expensive as a result. As a consequence,  PET prices were estimated at 1750 USD/MT on FD basis, up 5% since the last assessment.

North America

As PET prices crossed the 2215 USD/MT level on FOB basis, the market for the plastic in the United States witnessed a strong upswing. Feedstock PTA prices, on the other hand, remained stable due to rising crude oil and derivative prices in the United States. The first quarter saw an increase in Mexican imports

Despite this, low energy prices made it difficult for Mexico to normalise its export prices, driving up the country's overall production costs. As food and beverage consumption rises, so does the demand for packaging, which is driving the industry forward.

For the Fourth Quarter of 2021


PET prices were estimated at 97600 INR/MT Ex-Depot Baddi in late October. Low upstream ethylene prices and a seasonal pause in the demand pattern resulted in a drop in the product's pricing. PET Bottle grade prices continued to fall in December. In China, the Polyethylene Terephthalate market followed a similar trend, with demand inflow in early Q4 increasing prices, but demand degradation in late Q4 resulting in a price drop. In December, the price in China was estimated at 1045 USD/MT on a CFR basis.


The PET resin industry saw phenomenal growth, with prices exceeding 1500 EUR/MT on an FD basis for the first time in almost a decade. Additionally, recycled PET output remained stagnant, increasing the reliance of virgin PET. Limited local production of PTA and a lack of imports from Asia worsened the situation, resulting in substandard operating rates that harmed the whole supply chain. Additionally, manufacturers noted that rising feedstock prices had exacerbated the pricing pressure on PET.

North America

Downstream bottle demand continued to grow in line with the previous quarter's trend and remained robust throughout Q4. As a result, demand for the resin increased due to increased demand from packaging and other related industries. While demand for PE and PP slowed in the last quarter of the year, PET consumption volumes climbed. Imports from Asia remained constrained as well, owing to persistently high freight costs. In December, the price of polyethylene terephthalate was estimated to be 1900 USD/MT FOB.

Latin America

Due to the high demand for PET resins used in the manufacture of soft drink and other beverage bottles, the food and beverage sector has dominated the South American PET market. Brazil is the top consumer country in South America, owing to the enormous demand from the food and beverage industries. Supply constraints in Brazil's resin markets exacerbated in part by Covid-19-related surges in syringe and take-out container demand had driven prices to previously unheard-of heights, with more hikes anticipated.

For First, Second and Third Quarters of 2021


Local demand remained strong in Asia, and domestic producers continued to operate effectively despite a scarcity of feedstock. Although prices in China continue to climb on a weekly basis, FOB PET prices in Quingdao, China increased from USD 907/MT in January 2021 to USD 1008/MT in March 2021. While prices soared significantly in China by the end of June, they then began to decline because to a lack of demand from pandemic-affected nations.

Meanwhile, the Indian market witnessed adverse effects as a result of diminished demand caused by pandemic mayhem in the nation, where sufficient supply also contributed to this downward trend in PET prices. However, prices increased in April as a result of material shortages and consistent demand from the domestic market as the summer season approached. As a result, PET prices in India reached 885 USD/MT (film grade) and 932 USD/MT (bottle grade) during the first week of June.

Reduced availability of feedstock, the Purified Terephthalic Acid (PTA) trend, along with the decline in demand for PET, resulted in a decrease in its pricing in Q3. PTA consumption declined in the quarter as a result of firm intakes. There was a decrease in the price of PET, which was previously valued at 1050-1100 USD/MT.


Europe faced a scarcity of PET for the home market, despite significant export demand from other nations. The US winter frost hindered commerce throughout Europe, reducing the supply throughout the area.

Container shortages along the Asia-Europe trade route also influenced the market and drove prices higher; the free delivery price across Northwestern Europe was USD 965.53 per MT during the first quarter whereas the market remained constrained, consistent with previous quarters in the next quarters. The European petrochemical industry's challenge with persistently high shipping costs and restricted container availability also hindered PTA shipments to Europe.

North America

Throughout the winter storm interruptions, when the majority of Texas manufacturing plants were shut down, demand for PET increased consistently month after month. Strong demand from packaging, container, and bottle producers, along with limited supply, resulted in a significant price increase throughout the session.

As a result, prices in Ohio and Texas increased by 5.46 % and 5.38 %, respectively, to USD 1410 per MT and USD 1565 per MT. Apart from the harsh cold across the US Gulf, lower supply from Mexico owing to a domestic shortfall also influenced the prices in North America in the first quarter.

PET prices continued to rise during Q2 2021, owing to strong demand and high logistical costs. As a result, a sharp increase in its price was seen in the United States, where it hovered over 1705 USD/MT during the final week of June in Texas. Imports of the feedstock PTA increased significantly in Q3 compared to prior quarters, when imports were severely curtailed due to Mexico's dropping production rates. Increased feedstock availability resulted in increased production rates of the polymer. Prices in the United States were stable in the region of 1650-1710 USD/MT on a DDP basis.

For the Year 2020


Supply of PET in Asia was largely constant during the third quarter compared to the first two quarters. The majority of Chinese producers maintained output levels to meet India's and other Asian nations' increased demand for the polymer. Whereas many manufacturers, such as Sanfame Group, maintained low operating rates on concerns about continued market uncertainty.

While demand for bottled water and sanitizers was projected to grow during the early days of the Coronavirus epidemic, demand for other applications such as fruit juice and carbonated soft drink packaging fell. Asian manufacturing output was estimated to remain relatively strong in Q4 as downstream sectors ramp up production to compensate for the previous quarter's loss.


In the third quarter, Europe's demand was met with reasonably priced imports. In September and October, Italy and the Balkans received significant PET imports. Weaker US currency vs the euro and extreme weather conditions in the United States destabilized raw material prices, namely MEG. The epidemic of Covid-19 may have increased demand for single-use plastic packaging, hence raising demand for and costs of Polyethylene Terephthalate in Europe.

The U.K. government declared that as of April 2022, a charge on plastic packaging that does not include at least 30% recycled material will be set at GBP200/mt ($251.61/mt) for packaging manufactured in or imported into the UK. Based on statistics from March 2019 to March 2020, this rise might average GBP107/MT, assuming 30% recycled PET and 70% virgin PET.

North America

PET prices in North America were constant in Q3 due to strong demand for virgin PET in the food and beverage industry. Thus, PET resin sales in the packaging of sanitizing and cleaning goods increased significantly in Q3.

Bulk purchases resulted in out-of-season demand in North America. In comparison to Q1 and Q2, when resin demand decreased owing to poor economic growth, a trade war between the US and China, and dropping oil costs, demand stabilized in Q3 2020. In 2020, the worldwide price of polyethylene terephthalate was 725 USD/MT.

Latin America

PET prices in most Latin American countries remained unchanged in January, despite rising prices in Asia. Customers hesitant to expand inventory in the wake of the coronavirus epidemic reduced buying interest in the US and Latin American polyvinyl chloride markets.

South America's Pacific Coast and Brazil, both major Latin American markets for PVC imports, had no confirmed transactions despite declining pricing as market participants backed away in anticipation of additional demand drops. Since December, there was an increase in Asian pricing trend for raw materials, which slowly raised its costs and led to an increase in prices of 10-30 USD/MT in this region.

Procurement Resource provides latest prices of Polyethylene Terephthalate (PET). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Polyethylene Terephthalate, abbreviated as PET, is one of the most common types of thermoplastic polymer resins. It belongs to the polyester family like PVC. It is mostly utilised in the production of fibres for clothing, and containers for foods and beverages. PET has been identified as a completely safe, non-toxic, lightweight, and flexible material that is recyclable as well.

Product Details

Report Features Details
Product Name Polyethylene terephthalate (PET)
Chemical Formula (C10H8O4)n
Industrial Uses Fibres and yarns, Plastic containers, Thermoforming, 3-D printing
Synonyms 25038-59-9, poly(ethylene terephthalate), Poly (Oxyethyleneoxyterephthaloyl), PETE, PETP or PET-P
Supplier Database Exxon Mobil Corporation, Saudi Basic Industries Corporation (SABIC), Versalis S.p.A., Chevron Phillips Chemical Company, Lanxess AG
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

In this process, PTA is mixed with MEG and catalyst solution in a paste form and processed in an esterification system, splitting off the water. Then, the product from the esterification step is sent to the pre-polycondensation reactor. Finally, the polyester melt is processed either into fibres and filaments or sent to the solid-state polycondensation (SSP) unit for making bottle grade chips for the derived Polyethylene Terephthalate.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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