What are Resisting BOPET Film Prices From Rising Under Seasonal Demand?
- 22-Mar-2023 6:28 PM
- Journalist: Robert Hume
The price of Biaxially Oriented Polyethylene Terephthalate (BOPET) Film in the European and US markets decreased by approximately 4% and 1%, respectively, in February 2023, despite the summertime seasonal demand from the downstream packaging industry. The product's demand was steady, but not as much as expected by traders, and it was lower than the seasonal demand from last year. At the same time, the supply of BOPET Film in the European and US market was enough to satisfy the need of domestic and international markets.
The price of BOPET Film 13-micron DDP West Coast (USA) in the third week of March 2023 remained the same at USD 2055/MT. The primary reason behind the price trend of BOPET Film was the balanced gap between the product's demand and supply in the US market. In addition, during this week, the price of feedstock Polyethylene Terephthalate (PET) also remained unchanged, influencing the product's price across the USA.
During this period, the price of BOPET Film 13µ declined in the European market. In Germany and the United Kingdom, the price of the product declined by around 0.5%, respectively, as the price of feedstock Polyethylene Terephthalate (PET) declined by around 1% in the European market. The demand for the product from the downstream packaging was stable, and the supply was also stable, while the ease of availability of raw materials and low energy prices affected the cost of production and supported the price trend for the product during this period.
The packaging sector continues to be the largest end-use industry of BOPET Film as it is non-toxic in nature and highly heat resistivity material.
According to ChemAnalyst, the price of BOPET Film may rise in the second half of March 2023 as the demand from the downstream Food & Beverage packaging industry is anticipated to increase under the influence of seasonal demand.