Recycled PET Price Trend and Forecast

Regional Price Overview

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

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

Asia

Recycled PET (Polyethylene Terephthalate) or r-PET witnessed variations in the regional price trend in the Asian markets during the conclusive quarter of the year 2023. Given the market behavior of its feedstock PET (Polyethylene Terephthalate) as the downstream, the prices of Recycled PET vacillated within a very confined range during Q4’23.

Recycled PET (Polyethylene Terephthalate) Price Chart

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In the Chinese Recycled PET market, the prices first inclined marginally from October to November and then slid down in the last set of months. The monthly average prices went from around 1055 USD/MT (EX Work) in October’23 to around 1025 USD/MT in December’23. Given these short teetering patterns in the Recycled PET price graph, the Asian market sentiments were largely observed to be mixed during the discussed duration.

Europe

The European Recycled PET market replicated the Asian market behavior for the final quarter of the year 2023. Following a slumping trend in the feedstock PET prices, the Recycled PET prices too were found to be tilting towards the dipping end. A very average market performance was experienced in Q4’23.

North America

The American Recycled PET market performed a little better compared to other global markets; however, the prices here were found to be consolidated within limited terms. The market demands from the packaging and plastic industries drove these market trend. Overall, largely mixed market patterns were witnessed during the said period.

Analyst Insight

According to Procurement Resource, the Recycled PET price trend will take some time to stabilize as the downstream demands are highly uncertain. A similar average market performance is expected in the coming months.

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

Asia

The Asian Recycled PET or recycled polyethylene terephthalate market experienced a downward trend during the said time of Q3’23. The bearish demands from the downstream packaging and fibers industry kept the Recycled PET market gasping for upliftment. On the other hand, a regular supply of raw materials or used PET products was creating a supply glut for the processing units.

This disturbed the equation between supply and demand attributes of recycled PET and as a result, the recycled PET price graph kept on a downward trajectory throughout the said period. The monthly average spot prices stood at around 1065 USD/MT (EX Work) in July and fell to around 985 USD/MT by September. This shift in prices registered a quarterly decline of about 7% at the recycled PET price index. Overall, falling market trend were witnessed for recycled PET throughout the given period.

Europe

The European recycled PET industry was very influenced by the Asian market trend as the r-PET prices followed a similar downward trajectory here as well. One major reason was the European dependence on Asian exports, and second, the general market outlook in the consumer industries was cold towards recycled PET. Overall, dull market trend were observed.

North America

The American recycled PET market could behave no differently than its Asian and European counterparts. Since the global recycled PET market faltered regularly during the said period, the US market followed suit. Further, the economic uncertainties in the region also made the conditions a little hostile for the downstream manufacturing industries.

Analyst Insight

According to Procurement Resource, the Recycled PET market trend are not looking very promising for the coming months as well. The consistent dips in the demand curve suggest a longer period of depreciation in the recycled PET market.

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

Asia

The recycled polyethylene terephthalate market inclined in the Asia Pacific region as it was supported by the high demand from the downstream industries and low availability of the product in the market. The surge in sales of the food and beverage industries and the growing interest of consumers in the sustainable option fueled the rise in the prices. As a result, the spot prices in China increased significantly from around 985 USD/MT in January to 1130 USD/MT in June’23, registering a rise of almost 12%.

Europe

In Europe, the price trend of recycled polyethylene terephthalate was stable throughout the first two quarters of 2023. The trend was majorly influenced by the stable demand-supply ratio and sustained demand from the FMCG sectors. The cost of production was also stagnant, and thus, the supply of recycled polyethylene terephthalate in the region maintained its required pace.

North America

The North American region witnessed a stagnant trend in the prices of recycled polyethylene terephthalate as the demand from the end-user sector and supply from the manufacturers equalized each other. In addition to this, there were no major changes in the market dynamics, and the performance of the packaging sector was also moderate in the first two quarters of 2023.

Analyst Insight

According to Procurement Resource, the price of Recycled polyethylene terephthalate (PET) is estimated to remain stable in the upcoming quarter, given the moderate yet consistent demands from end-user industries.

Procurement Resource provides latest prices of Recycled 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.