For the Quarter Ending March 2025
North America
During the first quarter of 2025, BOPET film prices in the North American region experienced an overall stable trend with a marginal bullishness. At the start of the year, trading activity increased as global buyers returned after the New Year, leading to a short-term rise in inquiries. However, supply remained tight due to logistical constraints and increased freight costs, further pressured by concerns over a potential dockworkers' strike. Although that strike was eventually averted through a late-January agreement, earlier fears led many buyers to stock up, tightening available supplies.
Manufacturing costs remained consistent as feedstock PET prices stayed stable. A temporary shutdown at a key BOPET plant in Alabama due to severe weather in February caused a marginal dip in supply during mid-quarter, adding to the strain on spot availability.
Moreover, downstream processors, including textile and plastic manufacturers, were cautious amid ongoing tariff concerns and weak consumer confidence. Several buyers shifted to just-in-time procurement strategies rather than bulk purchasing, contributing to a subdued trading environment and leading the BOPET film prices to stabilize during March 2025.
APAC
The BOPET film prices in the APAC region during the first quarter of 2025 were characterized by a volatile dynamic. In January 2025, BOPET film prices in Indonesia increased despite a sluggish performance from the downstream sector. The BOPET market has seen a surge in trading activity following the post-New Year period. This renewed interest, driven by inquiries from various market players, has injected dynamism into the market. Furthermore, the supply side has faced constraints as several downstream factories have ramped up production to replenish depleted stock levels. However, as the quarter progressed, BOPET film prices started to decline in March due to reduced operating rates in the downstream packaging industry. Chinese producers adjusted their offers in response to the muted Indonesian market. While PET feedstock prices declined, easing manufacturing costs, maintenance shutdowns in China, driven by weak pre-holiday demand, did not significantly tighten the Indonesian supply due to ample existing availability and decreased shipping costs. The packaging sector reported comfortable inventory levels and a cautious procurement strategy.
Europe
The European BOPET film prices encountered significant challenges during the first quarter of 2025. In January, BOPET film prices in Germany declined slightly due to weak consumer sentiment, fueled by concerns over inflation and rising interest rates, which impacted consumer spending. This translated into lower demand for consumer goods, including those packaged in BOPET materials. Furthermore, a decline in the feedstock PET prices has further lowered the manufacturing costs during this timeframe. However, a rebound in BOPET film prices was observed in February 2025 on the back of a shift in market dynamics as the demand for the downstream r-PET has increased due to new regulations imposed by the government, and the demand for procuring BOPET has also increased. Moreover, the cut in feedstock PET operating rates and maintenance shutdown further tightened the supply dynamics due to extreme winter weather which led manufacturers to surge the prices during this timeframe. However, in March, caution translated into reduced demand for BOPET, a key material used in various plastic applications to settle the prices at USD 1957/MT BOPET Film 13 µ (Spot) FD Hamburg during the week ending March 2025.
MEA
The Middle East BOPET film prices experienced a decline of 2.9% in the first quarter of 2025, as compared to the fourth quarter of 2024. In January 2025, BOPET film prices in Saudi Arabia declined due to lower feedstock costs PET. Toward the end of the month, some suppliers encountered increased shipping challenges, while downstream businesses showed little inclination to replenish their stock ahead of the Lunar New Year. Moreover, the demand for the downstream packaging sector remained lull which further eroded the market sentiments. In February 2025, despite the anticipated surge in packaging demand ahead of Ramadan, the demand for BOPET from the downstream packaging sector remained low which led manufacturers to revise their prices negatively. Export orders remained low, amid the onset of Ramadan festivities significantly impacted consumer sentiment, resulting in a noticeable decline in purchasing activity. Moreover, the downstream packaging sectors, key consumers of BOPET, also experienced sluggish performance, further contributing to the muted demand. Consequently, a substantial portion of the available BOPET supply remained unutilized in March 2025 further supporting the downtrend.
For the Quarter Ending December 2024
North America
The fourth quarter of 2024 in the North American region remained bearish due to weak demand from the downstream packaging sector for BOPET Film. Throughout the quarter the BOPET market continued to struggle to elevate the prices.
In October, a notable drop in feedstock Polyethylene Terephthalate (PET) prices has declined the manufacturing costs during this timeframe. An increase in production capacity among manufacturers led to a surplus of BOPET Film in the market, which outpaced demand. The overall demand from the packaging industry remained subdued, primarily due to cautious consumer spending influenced by inflationary pressures and economic uncertainty.
Henceforth, despite the supply from the USA was affected by to labour strike which escalated freight charges significantly, increase in inventory has offset the supply chain pressure. Moreover, the ample domestic supply and weak downstream plastic demand kept the market fundamental at a lower end in December. Henceforth, the overall market was weighed down by sluggish demand as several buyers were prompting cautious trading behavior among market participants due to the destocking procedure.
APAC
The APAC BOPET film market endured a bearish fourth quarter in 2024, grappling with persistent weakness in demand from the downstream packaging sector. Throughout the quarter, manufacturers struggled to achieve price increases for their products. A significant decline in October's feedstock PET prices provided some respite by reducing manufacturing costs. However, the market faced an oversupply of BOPET film due to increased production capacity among manufacturers, exceeding the demand from the packaging industry. While disruptions from Super Typhoon Kong-Rey, ongoing issues in southern and eastern China, and port delays in Vietnam, South Korea, and Japan led to severe shipping delays and rising freight rates, the impact was mitigated by increased inventory levels in November 2024. Despite these supply-side challenges, ample domestic supply and weak downstream plastic demand kept market fundamentals depressed in December. The sluggish demand environment prompted cautious trading behavior among market participants. Many buyers were engaged in destocking procedures, further weighing down the overall market. This combination of factors created a challenging market landscape for BOPET film manufacturers in the fourth quarter of 2024.
Europe
The European BOPET film market encountered significant challenges during the fourth quarter of 2024, primarily driven by a persistent decline in demand from the downstream packaging sector. While a decline in feedstock PET prices in October provided some marginal relief by mitigating production costs, the market was grappling with a substantial oversupply of BOPET film. This oversupply stemmed from a surge in production capacity that outstripped demand from the packaging industry. Although increased inventory levels accumulated in November 2024 offered some degree of mitigation against these supply chain disruptions, the overall impact on market dynamics remained substantial. Despite these supply chain hurdles, the market continued to be weighed down by a confluence of factors. A persistent oversupply of domestic production, coupled with a pronounced weakness in downstream plastic demand, exerted considerable downward pressure on market fundamentals throughout the quarter. This subdued demand environment fostered a climate of caution among market participants. Numerous buyers actively engaged in destocking activities, further dampening market activity and creating a challenging and declining landscape for BOPET film manufacturers operating within the European region during the final quarter of 2024.
MEA
The Middle East BOPET film market experienced a challenging fourth quarter in 2024, marked by a persistent decline in demand from the downstream packaging sector. Throughout the quarter, manufacturers faced significant headwinds, including difficulties in raising product prices and an oversupply of BOPET film. While a drop in October's feedstock PET prices offered some relief by reducing production costs, increased production capacity among manufacturers outpaced demand from the packaging industry, leading to a market surplus. While the Red Sea disruptions impacted shipping, leading to delays and escalating freight rates. However, increased inventory levels accumulated in November 2024 partially mitigated the impact of these supply chain challenges. Despite these disruptions, ample domestic supply and weak downstream plastic demand continued to exert downward pressure on market fundamentals throughout the quarter. The sluggish demand environment fostered a cautious trading environment. Many buyers engaged in destocking activities, further dampening market activity. This combination of factors – weak demand, oversupply, and supply chain disruptions – created a challenging market landscape for BOPET film manufacturers in the MEA region during the fourth quarter of 2024.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, the North American BOPET Film market experienced a significant decline in prices, with the USA facing the most substantial changes. Several factors contributed to this downward trend, including an oversupply in the market and reduced demand from downstream industries. Additionally, logistical challenges stemming from weather disruptions and increased freight costs further exacerbated the situation. The market was also influenced by a decrease in production costs, weak demand from the packaging sector, and a cautious approach by manufacturers aiming to maintain price stability.
The pricing data reveals a decrease of 7% compared to the same quarter last year and a 3% drop from the previous quarter in 2024, reflecting ongoing bearish market sentiment. Furthermore, the comparison between the first and second halves of the quarter indicated a further decline of 1% in prices. These trends highlight the challenges faced by industry stakeholders as they navigate fluctuating demand and supply conditions.
As of the latest quarter-ending, the price for BOPET Film in the USA stood at USD 2,055/MT DDP Los Angeles. This figure underscores a consistently negative pricing environment characterized by various factors leading to a sustained decrease in market prices. Overall, the combination of oversupply, reduced demand, and logistical issues has created a challenging landscape for BOPET Film pricing in North America.
APAC
In Q3 2024, the APAC region witnessed a significant decline in BOPET Film prices, reflecting a challenging market environment. Several factors influenced this downturn, including oversupply issues, weakened demand from downstream industries, and logistical disruptions. These challenges have exerted downward pressure on prices, creating a negative pricing sentiment across the region. China, experiencing the most substantial price changes, has been particularly impacted by these market dynamics. The quarter saw a -15% decrease compared to the same period last year and a -4% decline from the previous quarter. Additionally, a -5% price difference between the first and second half of the quarter further emphasizes the downward trend in pricing. The latest quarter-ending price of USD 1009/MT for BOPET Film 13 µ (Spot) Ex-Shanghai in China underscores the persistent decrease in prices. This data highlights a bearish trend in the BOPET Film market, with prices steadily declining throughout Q3 2024.
Europe
Throughout Q3 2024, the European BOPET Film market experienced a steady decline in prices, with Germany showing the most significant price fluctuations. This decrease was influenced by several key factors, including a shift toward lower demand from downstream industries, which adversely affected overall consumption of BOPET film. Additionally, logistical challenges and rising freight costs disrupted the supply chain, further limiting the availability of BOPET film in the market. The rising production costs, particularly due to increased crude oil prices, added further downward pressure on prices. In Germany, the quarter demonstrated a clear negative trend in BOPET film pricing. Overall, prices showed a 2% decrease compared to the same quarter last year and experienced a 2% decline from the previous quarter in 2024. During the first half of the quarter, prices fell by 1% compared to the second half, highlighting the ongoing downward trend. By the end of the quarter, the price for BOPET Film 13 µ (Spot) FD Hamburg in Germany was recorded at USD 2059/MT. This figure reflects the prevailing sentiment of price reduction within the market.
MEA
In Q3 2024, the MEA region experienced a decline in BOPET Film pricing, driven by several key factors. An oversupply coupled with weakening demand significantly contributed to lower prices. Manufacturers ramped up production, resulting in excess inventory, while the packaging sector faced reduced demand due to macroeconomic challenges and inflationary pressures. Additionally, the devaluation of feedstock PET lowered production costs, allowing suppliers to reduce prices to stay competitive amidst sluggish demand. The slower growth of the PET market in the Middle East and Africa further diminished the demand for BOPET films used in packaging, reinforcing the bearish sentiment in the region. Saudi Arabia, which experienced the most notable price changes, reflected a consistent downward pricing environment. Seasonal factors and market trends contributed to the observed price fluctuations. Compared to the same quarter last year, prices saw a decrease of 2%, indicating an ongoing downward trend. Furthermore, a quarter-on-quarter change of 1% showed a brief increase before prices ultimately fell by 2% between the first and second halves of the quarter. By the end of the quarter, the price for BOPET Film Grade Ex-Riyadh in Saudi Arabia was recorded at USD 1915/MT. This figure underscores the prevailing negative sentiment within the market.
For the Quarter Ending June 2024
North America
The second quarter of 2024 has seen a notable increase in BOPET film prices in the North American region. This quarter has been characterized by a myriad of factors influencing market dynamics, resulting in heightened pricing for BOPET films.
Key drivers of this price escalation include increasing demand fueled by robust manufacturing activities and disruptions in supply channels. The rising prices of feedstock PET have significantly contributed to the overall increase in production costs, thereby influencing BOPET film prices during April 2024. Moreover, geopolitical tensions and logistical issues, such as port congestion and severe weather conditions, have exacerbated supply constraints, further driving up costs during June 2024. Additionally,
Focusing on the USA, which experienced the most significant price changes, the overall trend has been bullish. Seasonality played a crucial role, particularly with the summer driving season contributing to an uptick in demand for packaging materials. This increased demand, coupled with supply bottlenecks, led to a 9% year-over-year increase in BOPET film prices and a 4% rise from the previous quarter. Conclusively, the pricing environment for BOPET film has been positive, with the quarter ending for USD 2103/MT DDP Los Angeles in the USA.
APAC
During Q2 2024, the BOPET film market in the APAC region experienced a noticeable downturn, driven by several pivotal factors. However, in April 2024, the prices have admitted a hike on the back of tight spot flows in the domestic market ahead of the Tomb-Sweeping Day holiday. The rise in prices was attributed to a sudden shift in supply and demand dynamics due to a rise in feedstock PET which certainly increased BOPET production costs. Following that, the overarching sentiment was characterized by decreasing prices, influenced primarily by an oversupply of feedstock PET and subdued demand from downstream industries such as packaging and electronics during May 2024. The reduction in upstream crude oil prices alleviated production costs, which, alongside high inventory levels, pressured manufacturers to lower their prices to remain competitive. Seasonality played a significant role, with the typically robust demand during Q2 failing to materialize fully, exacerbated by high inventory carryovers from previous quarters. Comparing the previous quarter in 2024 to Q2, the -2% change further illustrated the entrenched negative pricing environment. The latest quarter-ending price for BOPET Film 13 µ (Spot) Ex-Shanghai in China stood at USD 1098/MT, cementing the prevailing negative pricing trend.
Europe
The second quarter of 2024 for the BOPET Film market in Europe has been characterized by a stable pricing environment, from bearishness toward bullishness which balanced out an overall sentiment. The second half of the quarter saw the market grappling with increased freight costs and logistical disruptions, which were counterbalanced by lower feedstock costs for PET during May 2024, the primary raw material. Despite these opposing forces, the market dynamics maintained equilibrium due to a balanced supply-demand scenario. The consistent pace of downstream demand, particularly from the packaging and beverage bottling industries, helped stabilize prices. Seasonal factors, such as the peak bottling season, typically induce price volatility, however, this year, robust inventories and steady procurement patterns tempered significant fluctuations. Focusing on Germany, which experienced the most notable price variations within the region, the market exhibited a harmonious balance amidst these influences. Interestingly, the price change from the same quarter last year recorded a modest 3% increase, reflecting slight inflationary pressures. The quarter concluded with a price of USD 2059/MT for BOPET Film 13 µ (Spot) FD Hamburg, reinforcing the stable market environment.
MEA
The second quarter of 2024 has been particularly challenging for the BOPET film market in the MEA region which showed a mixed trend. The impact of the Red Sea crisis and attacks by Houthi rebels significantly affected shipping routes, leading to delays and increased freight charges during April 2024. Concurrently, the global market witnessed a slump in PET feedstock prices, which directly influenced the BOPET film production costs, thereby exerting downward pressure on market prices during May 2024. Additionally, the seasonality factor played a role, as the demand from downstream sectors traditionally diminishes post-festival seasons, leading to lower procurement rates and subsequently affecting BOPET pricing. In Saudi Arabia, the market experienced pronounced price volatility, with the quarter concluding with the price of BOPET Film Grade Ex-Riyadh at USD 1983/MT, underscoring internal supply-demand imbalances. However, despite the low demand from the downstream plastic and packaging market, the BOPET prices in June have slightly rebounded amidst high freight charges and shipping delays.
