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Recycled PET Price Trend and Forecast
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
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.
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.
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.
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.
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
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.
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.
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.
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
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%.
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.
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.
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.
Polyethylene terephthalate or PET, a form of polyester, is a highly recyclable plastic resin. PET is inexpensive, light in weight and is widely used to manufacture plastic products, particularly plastic bottles. Upon recycling polyethylene terephthalate, it is known as RPET, which is the most widely recycled plastic worldwide. Products made of recycled PET are very convenient, and thus, they are widely utilised.
|Fibres, Fabrics, Packaging, Washed flakes, Sheets, Straps, Polyester carpets
|B. Schoenberg & Co., Inc, UltrePET, LLC, Carbonlite Inc., Suez Recycling & Recovery Holdings, KW Plastics
|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
|US$ (Data can also be provided in local currency)
|Supplier Database Availability
|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.
In this process, PET is used as a starting material and its recycling follows multiple steps such as sorting, separation, classification and rinsing. At last, PET is ground into flake and dried before being reintroduced as a manufacturing material.
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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Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103