Polyethylene Terephthalate (PET) Price Trend and Forecast

PET Regional Price Overview

Get comprehensive insights into the Polyethylene Terephthalate market, with a focused analysis of the Polyethylene Terephthalate price trend across Asia, Europe, North America, Latin America, and the Middle East & Africa.


Polyethylene Terephthalate (PET) Price Trend for the Q1 of 2024

Product Category Region Price Time Period
Polyethylene Terephthalate (PET) Packaging India 935 USD/MT (FOB) January 2024
Polyethylene Terephthalate (PET) Packaging India 982 USD/MT March 2024
Polyethylene Terephthalate (PET) Packaging China 1071 USD/MT March 2024
Polyethylene Terephthalate (PET) Packaging Europe 1185 USD/MT (FOB, NEW, Bottle Grade) January 2024
Polyethylene Terephthalate (PET) Packaging Europe 1255 USD/MT (FOB, NEW, Bottle Grade) March 2024
Polyethylene Terephthalate (PET) Packaging USA 1037 USD/MT (CIF) January 2024
Polyethylene Terephthalate (PET) Packaging USA 1071 USD/MT March 2024
Polyethylene Terephthalate (PET) Packaging South Korea 1000 USD/MT March 2024

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The Asian PET market exuded steadiness and stability during the said period of the year 2024. Indian market performed fairly well, while the Chinese PET market, on the other hand, was more consolidated. In the Indian Polyethylene Terephthalate market, the monthly average prices went from about 935 USD/MT (FOB) in January’24 to around 982 USD/MT in March’24.

Polyethylene Terephthalate (PET) Price Chart

Polyethylene Terephthalate (PET) Price Trends

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This provided an approximate 5% incline to the Indian PET market. A consistent incline in crude oil and energy prices during this time was the primary reason that the PET industry saw this price incline as the upstream costs rose with the rise in feedstock rates. Chinese PET industry, at the same time, exhibited borderline stagnancy as the prices averaged at around 1006 USD/MT throughout the discussed span of three months. This curve reflected the equaled nature of the supply and demand outlooks in the Chinese PET market. Overall, mixed market sentiments were witnessed.


The hikes in the domestic petroleum and energy sectors were replicated by the regional Polyethylene Terephthalate industry as well during the first quarter of 2024. The downstream demands from the bottle and plastics industries grew substantially as the summer months approached.

The monthly average prices went from about 1185 USD/MT (FOB, NEW, Bottle Grade) in January’24 to around 1255 USD/MT (FOB, NEW, Bottle Grade) in March’24. The European PET market saw a surge of about 5% as a result of this incline in monthly prices. Overall, positive market sentiments were witnessed.

North America

The American PET market mirrored the price trajectory of its European counterpart during the first quarter of the year 2024. Various geopolitical disruptions across the regions of the world mainly the Russian war in Europe and the Israeli war in the Middle East pressurized the global trade dynamics immensely. In the USA the prices were seen going from about 1037 USD/MT (CIF) in January’24 to around 1071 USD/MT in March of 2024. This yielded an overall inclination of about 3% in the American PET prices.

Analyst Insight

According to Procurement Resource, given the current supply and demand dynamics the PET prices are likely to continue growing in the coming months as well. The price trajectory is likely to incline further.

Polyethylene Terephthalate (PET) Price Trend for the October - December of 2023

Product Category Region Price Time Period
Polyethylene Terephthalate (PET) Packaging USA 1040 USD/MT January-24
Polyethylene Terephthalate (PET) Packaging USA 1045 USD/MT December-23
Polyethylene Terephthalate (PET) Packaging USA 996 USD/MT October’23
Polyethylene Terephthalate (PET) Packaging Europe 1210 USD/MT December-23
Polyethylene Terephthalate (PET) Packaging Europe 1235 USD/MT October’23
Polyethylene Terephthalate (PET) Packaging India 986 USD/MT December-23
Polyethylene Terephthalate (PET) Packaging India 983 USD/MT October’23
Polyethylene Terephthalate (PET) Packaging China 950 USD/MT December-23
Polyethylene Terephthalate (PET) Packaging China 965 USD/MT October’23

Stay updated with the latest Polyethylene Terephthalate (PET) prices, historical data, and tailored regional analysis


The Polyethylene Terephthalate or PET prices experienced short-range consolidation during the final quarter of the year 2023. This market trend was a direct result of the short gap between the supply and demand dynamics of polyethylene terephthalate in the Asian markets. The Indian PET market saw the monthly average prices shifting from about 965 USD/MT in October’23 to around 950 USD/MT in December’23. Similarly, in the Chinese polyethylene terephthalate market, the prices went from about 983 USD/MT in October to around 986 USD/MT in December’23, replicating similar marginal fluctuations as the Indian domestic market. Overall, borderline stagnancy was observed in the Asian polyethylene terephthalate market during the discussed time span.


Following along the similar fluctuating trajectory the monthly average polyethylene terephthalate prices in Europe went from about 1235 USD/MT (FOB NEW, bottle grade) in October’23 to around 1210 USD/MT in December’23. This led to a marginal decline of about 2% in the PET price trends during the last quarter of 2023 in the European markets.

North America

In contrast to the other major markets, the polyethylene terephthalate market in the USA was relatively more positive during the fourth quarter of the year 2023. The prices here moved up in the first half of the quarter as the demands inclined; however, with a decline in industrial activities during the holiday season, the prices tumbled marginally in the latter half, but the general market sentiments still remained positive. The average PET prices in the US market went from about 996 USD/MT (CIF) to around 1045 USD/MT in December’23. The market sentiments are likely to remain positive in the coming months; the PET prices are expected to waver around 1040 USD/MT in January’24.

Analyst Insight

According to Procurement Resource, Polyethylene Terephthalate price trends are expected to remain mixed in the coming months. The regional imbalances will likely affect the international PET market.

Polyethylene Terephthalate (PET) Price Trend for the July - September of 2023


The polyethylene terephthalate prices were witnessed to be wavering downwards during the third quarter of the year 2023. The first half of the quarter was slightly depreciating; however, the polyethylene terephthalate prices rebounded quickly in the latter half. The overall quarterly market outlook was positive throughout the said period.

In the Indian polyethylene terephthalate market, the monthly average prices went from around 940 USD/MT in July ‘23 to around 950 USD/MT in September ‘23 after wavering slightly downward in the previous month. The Chinese market on the other hand, saw the monthly average prices going from about 1002 USD/MT in July’23 to about 999 USD/MT in September’23. Overall, narrow-ranged fluctuations were observed in the price trend.


The European polyethylene terephthalate market followed the Chinese market very closely during the given quarter of the year 2023. Prices first increased by about 3% from July to August and then declined by about 6% in the next couple of months. These variations took place as the monthly average prices went from about 1288 USD/MT in July’23 to around 1250 USD/MT in December ’23.

North America

The American market trend for polyethylene terephthalate were more on the positive side as the price trend were observed to be inclining during the said quarter of 2023. The monthly average prices went from about 995 USD/MT in July to about 1045 USD/MT in September’23, registering an overall growth of 5% during Q3’23.

Analyst Insight

According to Procurement Resource, the Polyethylene Terephthalate (PET) price trend are expected to fluctuate as per the variations in the market demands in the coming months.

Polyethylene Terephthalate (PET) Price Trend for the First Half of 2023


The initial months of 2023 were favorable in terms of the prices of polyethylene terephthalate as the region gained back its production momentum after the Lunar holiday season. The rise in production activities was supported by the stable demand from the end-user industries, but this incline was short-lived as soon enough, the production rates exceeded the demand and led to a rise in the inventories. The saturated inventories destabilized the supply-demand dynamics causing the PET prices to decline. In China, the spot price of PET averaged around 1021 USD/MT in June’23.


A declining trajectory in the prices of polyethylene terephthalate was observed in the first two quarters of 2023. The major market drivers of polyethylene terephthalate, i.e., the packaging and beverages sectors, struggled to keep their sales afloat and thus reduced their offtakes. To further aid this downward movement, the inflation rates rose in the region, forcing the manufacturers to reduce their workforce, significantly impacting the polyethylene terephthalate market dynamics.

North America

In North America, the price trend of polyethylene terephthalate declined gradually as the demand for the commodity was low amid strong supplies. The rising cost of labor employment, high transportation, and production prices also influenced the prices. Amid these uncertainties, certain manufacturers were forced to shut down their production units completely, while others had to cut down their manufacturing rates to stabilize the market leading to the decline in PET prices.

Analyst Insight

According to Procurement Resource, the price of Polyethylene Terephthalate (PET) is estimated to decline in the upcoming quarters, given the rise in inflation rates and weak demand from the packaging sector.

PET (Polyethylene Terephthalate) Price Trend for Second Half of 2022


The Asian continent is the biggest producer and consumer of PET (Polyethylene terephthalate). The price trend for PET in the Asian market are detrimental. But Q3 2022 started with strict covid policies in China, which hampered the production capacities adversely, also the market demand could not sustain. Indian and Chinese markets reported a drop in demand. Overall, for H2 2022 price trend for PET (Polyethylene terephthalate) remained dampening.


European economies are faced with a crucial energy crisis because of the Russian-Ukraine conflict starting in 2022, this unforeseen hike in energy prices affected the overall purchasing capacities of citizens. So, end-user demand for PTA took a hit. As demand dipped the upstream costs also dipped because of a fall in feedstock prices. So overall price trend for Polyethylene terephthalate remained sullen. As China is the biggest exporter to the EU for PTA, the economic slowdown there because of covid restrictions also had implications for falling prices.

North America

Price trend for PET (Polyethylene terephthalate) in North America replicated the universal trend of slowdown. North America is one of the biggest consumers of PET and Chinese imports fulfil most of that demand, but as inflation rose and feedstock prices tossed both production costs and demand dropped. Winter season anyways is not much helpful for the bottling industry. So, the PET prices continued downhill trend.

Analyst insight

According to Procurement Resource, the market trend for PET do not look very promising. As inflation is still at an all-time high and feedstock resin has ample availability, PET prices do not look to be going up anytime soon.

PET (Polyethylene Terephthalate) Price Trend For the Second Quarter of 2022


The Asian PET (Polyethylene terephthalate) market witnessed a mixed price trend in Q2 2022. Market demand and feedstock prices remained two common determining factors. But the biggest Asian markets namely India and China observed conflicting trend. In China as consumer demand and feedstock prices both fell, the PET (Polyethylene terephthalate) market prices took a plunge, whereas, for the Indian market, both demand and feedstock prices rose pushing the PET (Polyethylene terephthalate) market up.


Price trend for PET (Polyethylene terephthalate) in Europe showed a similar sentiment with consumer demand and feedstock prices remaining the major market drivers. Q2 started strong for PET (Polyethylene terephthalate) in Europe with strong demands and strong feedstock prices, but later sufficient supplies eased down the market a little bit.

North America

The North American market for PET (Polyethylene terephthalate) had a good run in Q2 2022. Both consumer demands and strong feedstock prices supported the market very well. As energy prices elevated the upstream production costs, consumer behaviour with packed products also pushed the market trend. Overall, PET (Polyethylene terephthalate) prices inclined in the said period.

PET (Polyethylene Terephthalate) Price Trend 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.

PET (Polyethylene Terephthalate) Price Trend 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.

PET (Polyethylene Terephthalate) Price Trend 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.

PET (Polyethylene Terephthalate) Price Trend 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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About PET

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.

PET 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.

PET 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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