The IEA expects world oil demand to decline year-on-year for the first time since 2020, driven by the Iran war and Strait of Hormuz closure. Prices have eased on prospects of a surplus late in 2026, but renewed hostilities threaten supplies and introduce volatility.
During the week ended July 3, PTA prices across most Asian markets fell sharply as the reopening of the Strait of Hormuz removed the geopolitical premium. The decline was part of a broad polyester feedstock repricing, with MEG recording the steepest drop. Experts said the move reflected a risk unwind rather than weaker demand.
Asia
Despite a bullish PTA feedstock price, Biaxially Oriented Polyethylene Terephthalate (BOPET) prices in China remained stagnant throughout the first quarter of 2024. This stability was due to the offsetting effects of higher PTA costs and only mild demand, resulting in a surge in production costs and a decline in the profits of the manufacturing communities. Additionally, sluggish export demand, typical seasonal dullness, and geopolitical tensions dampened purchasing enthusiasm.
As tensions in the Red Sea region escalated, concerns about trade disruptions and rising shipping costs loomed over the BOPET market. While stable feedstock costs and steady demand offer temporary stability, potential trade disruptions, shipping cost increases, and future PTA fluctuations pose challenges to raising BOPET prices.
Europe
The European Biaxially Oriented Polyethylene Terephthalate (BOPET) market stabilized towards the end of the first quarter after a consequent price increase driven by limited supply and steady upstream prices. The market traders and manufacturers noticed this change in the market momentum during the last quarter of 2023 only, which further continued in the first quarter of 2024 as well.
The Biaxially Oriented Polyethylene Terephthalate (BOPET) also remained positive due to port closures in Germany and shipping route alterations prompted by security issues in the Red Sea region. Downstream purchasing remained at an all-time high in the initial phase of the quarter but slowed a little towards the end of the quarter.
North America
In the US market, BOPET Film prices experienced a slow and steady incline during the first quarter of 2024 due to limited inventories amidst heightened demand from the packaging industry during the festive season in Asian countries. Severe weather conditions disrupted the supply chain, increasing lead times and prompting a surge in demand.
Despite inflation rates remaining stagnant, positive purchasing sentiments persisted throughout the first quarter of 2024, supported by ongoing discounts from major retail chains. Further, the rise in the cost of crude oil and an increasing number of sanctions on oil exports by Russia and Saudi Arabia raised the overall cost of production and, invariably, the quoted prices of Biaxially Oriented Polyethylene Terephthalate (BOPET).
Analyst Insight
According to Procurement Resource, the price trend of Biaxially Oriented Polyethylene Terephthalate (BOPET) Film is estimated to continue its northward journey with the rise in the demand from the packaging sector and the inclining cost of production globally.
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Biaxially Oriented Polyethylene Terephthalate (BOPET) is a polyester film made from polyethylene terephthalate that undergoes a biaxial orientation process. This process involves stretching the film in both the machine direction and the transverse direction, resulting in a film with enhanced mechanical properties and dimensional stability. BOPET films are known for their high tensile strength, stiffness, and excellent optical clarity.
They exhibit good barrier properties against moisture, oxygen, and chemicals, making them suitable for various packaging applications, including food packaging, labels, and industrial films. Additionally, BOPET films are heat-resistant and have excellent thermal stability, allowing them to withstand high-temperature processing methods such as heat sealing and lamination.
(C10H8O4)n
Food and Beverage, Cosmetics, Personal Care, Automobile Industry, Semiconductors and Electronics Industries, Pharmaceutical Industries
Mylar
Uflex Limited, Mitsubishi Polyester Film, Inc, Jindal Poly Films Ltd, SRF Limited, Retal Industries Ltd, Polyplex, DuPont Teijin
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
The production method of BOPET films employs cutting-edge technology and premium resin. Melting the resin and extruding it through a die with a thin slit is the first step in the process. After that, the film is stretched in both transverse and machine directions to give it the correct thickness and characteristics. Heat-setting the film is the last step in improving its dimensional stability and other characteristics. BOPET films produced by this technique have outstanding mechanical and thermal stability, which makes them a popular substrate for a variety of uses.
Our Price Analysis Methodology
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This study analyzes Biaxially Oriented Polyethylene Terephthalate Film (BOPET Film) Production by Biaxial Orientation Method, covering manufacturing, process flow, operating expenses, and financial considerations.
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