For the Quarter Ending June 2025
North America
• North American Polyethylene Terephthalate (PET) Price registered a bearish trend in the Q2 2025 especially in the US market where it declined by 5.7%, settling at USD 1117/MT FAS Houston in June.
• The bearish price trajectory stemmed from soft downstream demand, weak feedstock costs, and elevated inventory levels.
• Supply remained ample, supported by consistent domestic production, proactive Q1 restocking, and Q-o-Q surge in PET imports—primarily from South Korea, Taiwan, and Mexico. The resumption of operations at Formosa and Nan Ya Plastics further improved supply-side balance.
• Feedstock costs trended neutral to soft; MEG prices declined in April and May due to oversupply but rebounded marginally in June amid tight availability. PTA values showed minimal fluctuation, limiting upward cost pressure.
• Demand from packaging and bottling sectors was steady but uninspiring, as cautious consumer sentiment, persistent inflationary pressures, and elevated interest rates constrained downstream procurement activity.
Why did the price of PET change in July 2025 in the US?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in the US declined due to persistently weak spot import demand and intensified competition from low-cost international suppliers.
• The PET Production Cost Trend remained stable, with unchanged feedstock MEG and PTA prices offering no cost-driven price support.
• The PET Price Forecast suggests continued downward movement, as surplus inventories, strategic buying behavior, and aggressive overseas offers—especially from Turkey and Vietnam—exert pressure on domestic market valuations.
APAC
• APAC Polyethylene Terephthalate (PET) prices declined during the Q2 2025 especially in the Indonesian market where it declined by 3.4%, settling at USD 763/MT CFR Tanjung Priok in June.
• The bearish quarterly trend stemmed from persistent supply overhang, soft demand from packaging and beverage segments, and subdued international inquiries, particularly during April and early May.
• High inventory levels, stable imports from major Asian producers, and consistent operating rates in China ensured supply continuity, despite minor plant turnarounds and upstream feedstock volatility.
• PET prices dipped to a quarterly low of USD 710/MT in late April due to aggressive overseas offers, falling MEG and PTA costs, and limited downstream procurement amid weak consumer sentiment and inflationary pressure.
• While seasonal summer demand led to a brief rebound in late May—pushing prices to USD 760/MT—procurement remained cautious, and the rally was tempered by high finished goods inventory and restricted restocking.
• Despite localized gains in June, tepid macroeconomic indicators and persistent supply-demand demand capped any sustained recovery, cementing a net price decline across Q2 2025.
Why did the price of PET change in July 2025 in the APAC region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in the Asian market, witnessed a steady decline due to soft market fundamentals and high material availability.
• The PET Production Cost Trend remained weak, as feedstock prices declined in tandem with bearish upstream crude oil benchmarks, while inventory accumulation compelled producers to cut operating rates.
• The PET Price Forecast reflects continued downward pressure, driven by muted downstream demand, ample regional supply, weather-related logistics disruptions, and a cautious procurement environment across key APAC hubs.
Europe
• European Polyethylene Terephthalate (PET) Price witnessed a bearish trend during the Q2 2025 especially in the Netherlands where it declined by 4.1%, settling at USD 1076/MT FD Rotterdam in June.
• The overall bearish pricing trend was driven by subdued demand, high inventory levels, and increased competition from recycled PET (r-PET), which continued to erode virgin PET market share amid EU sustainability mandates.
• PET prices opened at USD 1120/MT in early April, then declined steadily across May due to weak offtake from preform and packaging sectors, high pre-built inventories, and persistent port congestion at key Northern European terminals such as Rotterdam, Antwerp, and Hamburg.
• Downstream sentiment was cautious throughout the quarter. Consumer demand lagged behind expectations, while bottlers and converters adopted a wait-and-watch strategy, leading to lower procurement intensity and downward pricing pressure.
• Despite limited price recovery in June—driven by seasonal beverage demand, tight MEG supply from the U.S., and logistical delays—quarterly prices remained lower on average due to earlier declines.
• Virgin PET retained preference over r-PET in several downstream segments, due to lower volatility, performance consistency, and reduced-price premium, but the overall demand recovery was modest.
Why did the price of PET change in July 2025 in the European region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in Europe rose moderately, supported by seasonal temperature-driven demand for bottle-grade applications and increased preform procurement.
• The PET Price Forecast reflects cautious optimism, with warmer weather, forward-buying for Q3 and Q4, and manageable supply dynamics sustaining mild upward pressure on PET valuations across key European hubs.
MEA:
• Polyethylene Terephthalate (PET) Price declined during the Q2 2025 especially in Saudi Arabian market where it declined by 3.2%, settling at USD 1015/MT Ex-Riyadh in June.
• • The bearish price trajectory was driven by subdued feedstock costs (MEG and PTA), ample inventories, and soft international quotations, particularly from Asian exporters such as China and South Korea.
• • PET prices fell in early April to mid-May, amid aggressive Chinese offers and excess global production capacity. Stable domestic production and sustained import inflows supported oversupply conditions.
• • Weakened demand post-Eid and post-Hajj, coupled with cautious procurement sentiment, further limited upward price movement through May, despite pre-holiday restocking activity.
• • Downstream demand from the bottled water and beverage sectors held steady, buoyed by rising summer temperatures. Nonetheless, high pre-Hajj inventory accumulation resulted in moderated offtake by late June.
Why did the price of PET change in July 2025 in the MEA region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in the Middle East and Africa (MEA) region declined, primarily due to an influx of competitively priced imports from Asia.
• The PET Production Cost Trend weakened as feedstock values dropped in response to bearish upstream crude oil benchmarks, prompting Asian producers to cut run rates amid rising inventories.
South America
• Polyethylene Terephthalate (PET) Price declined in the South American market during Q2 2025 especially in Brazil where it declined by 5.3%, settling at USD 1152/MT FOB Santos in June.
• • The bearish trend was driven by weak downstream demand, subdued international trade flows, and ample inventories.
• Supply remained steady across the quarter, supported by stable domestic production and consistent imports, particularly from the U.S. and Asia.
• Feedstock costs were largely bearish—MEG prices dropped early in the quarter, with limited movement in PTA—helping maintain low production costs. Even late-quarter MEG rebounds failed to influence pricing significantly.
• Demand from downstream packaging and bottling sectors was muted, with buyers adopting cautious procurement strategies amid macroeconomic uncertainty and subdued consumer activity.
Why did the price of PET change in July 2025 in the South America region?
• In July 2025, the Polyethylene Terephthalate (PET) Price Index in South America declined due to weak domestic demand and increased competition from low-cost imports.
• The PET Production Cost Trend remained neutral, with steady feedstock MEG and PTA prices offering limited cost-driven support.
• The PET Price Forecast indicates continued bearish pressure, as global PET demand softened and subdued downstream procurement activity persisted across the Brazilian market.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American Polyethylene Terephthalate (PET) market followed a generally bullish trajectory, characterized by price hikes in January and February, then a slight pullback in March. In January, PET prices rose despite favorable feedstock dynamics, largely due to the anticipated strike by the International Longshoremen's Association slated for January 15. Fears of potential disruptions across the East and Gulf Coast ports drove up procurement activity, placing an upward pressure on prices.
By mid-Q1, PET prices continued to climb amid rising PTA feedstock costs, while MEG prices stayed mostly unchanged. This upward trend was supported by increased industrial output across key end-use sectors and persistent trade barriers on Chinese PET, which shifted sourcing to alternative suppliers. While severe winter weather limited bottle demand, stable consumption from food packaging and evolving policies promoting recycled PET (rPET) contributed to reshaping the market landscape.
In March, PET prices dipped slightly due to muted buying interest and excess product availability. Elevated stock levels, stable upstream pricing, and reduced shipping rates from Asia resulted in a cost-balanced yet demand-weakened scenario. Despite targeted promotions to lift sales, lukewarm demand and intensifying rPET competition pushed prices down, moderating the earlier bullish trend. In the region, the US market saw the widest fluctuations, with PET prices edging up 1% by quarter's end from the previous quarter, maintaining levels at USD 1190/MT FAS Houston.
APAC
In Q1 2025, the Asia-Pacific (APAC) Polyethylene Terephthalate (PET) market exhibited a consistent bearish price trend, with prices declining consecutively through January, February, and March. This downward trajectory was primarily influenced by subdued demand, elevated inventory levels, and softened upstream cost dynamics. In January, PET prices remained stable initially due to balanced supply-demand conditions and steady feedstock Mono Ethylene Glycol (MEG) prices. However, as the month progressed, weak post-holiday demand, high inventories, and declining Purified Terephthalic Acid (PTA) prices—resulting from oversupply—triggered a price drop by month-end. February sustained the bearish outlook amid tepid domestic consumption, particularly in the beverage sector affected by cold and wet weather, while rising regional inventories and lower Asian import prices pressured prices further. Feedstock PTA continued its weak streak and market confidence remained low due to softened consumer sentiment. March extended this trend with persistent oversupply, weak procurement from downstream sectors, and falling MEG and freight costs. Despite seasonal demand recovery during the start of summer, supply outweighed demand, and PET producers maintained high operational rates, amplifying market pressure. By March end, prices had cumulatively dropped to USD 790/MT from USD 829/MT in early January, in Indonesia.
Europe
In Q1 2025, the European Polyethylene Terephthalate (PET) market witnessed a mixed price trajectory, shaped by shifting market fundamentals across each month. In early Q1, PET prices declined, primarily due to sluggish downstream demand and cautious procurement across the bottle and food packaging industries following the pre-holiday stocking phase. Despite steady supply and unchanged feedstock prices (PTA and MEG), weak consumer confidence and subdued end-user activity restrained upward price movements. Compounding this, logistical concerns and moderate export activities further limited buying interest, leading to a softening price environment. In February, PET prices increased, supported by rising production costs. This uptick in raw material costs prompted manufacturers to adjust pricing to protect margins. Simultaneously, demand showed signs of recovery, driven by seasonal consumption. Although broader economic concerns persisted, the impact of proposed U.S. tariffs had limited immediate effects on PET trade flows, offering short-term insulation. In the end of Q1, PET prices declined marginally after initial stability. Ample supply, supported by consistent production and high inventory levels, met steady but unremarkable demand. Feedstock prices remained unchanged, offering no cost push. Meanwhile, subdued procurement activity and increasing import availability exerted slight downward pressure, causing prices to dip by the end of the month, reflecting a well-balanced yet cautious market landscape. In the region, the Netherlands market faced notable fluctuations, with prices standing at USD 1122/MT FD Rotterdam by the quarter’s end.
South America
In Q1 2025, the South American Polyethylene Terephthalate (PET) market, exhibited a bullish price trend during January and February, followed by a downward adjustment in March. In January, PET prices rose as global shipping concerns arose, particularly with potential disruptions on the East and Gulf Coasts in the US, buyers in Brazil kept a close watch on regional supply chain dynamics. Further Brazil’s manufacturing slowdown and logistical uncertainties such as rising container rates and the lack of ample feedstock MEG due to the limited import from US amidst the shutdown of units, supported the prices to rise. In February, PET prices rose in mid-month. This upward shift was attributed to a rise in PTA feedstock prices and a temporary tightening in regional supply following maintenance shutdowns at Alpek’s Suape plant. Additionally, seasonal demand from beverage and packaging sectors lent further support, despite macroeconomic headwinds like low consumer confidence and persistent inflation. However, March reversed the bearish trend. This decline was primarily driven by oversupply, high inventory levels, and muted downstream consumption. Even as feedstock costs remained stable, the market faced a demand-side weakness and increased imports due to lower freight rates, which collectively suppressed price momentum. The Brazilian market experienced significant fluctuations during the period, with prices reaching USD 1122/MT FOB Santos by the end of the quarter.
MEA
In Q1 2025, the Polyethylene Terephthalate (PET) market in the MEA region exhibited an overall bearish price trend, marked by a consecutive monthly decline in prices across January, February, and March. Initially, January began with stable pricing, supported by steady imports from Asia, consistent domestic production aided by stable feedstock costs—particularly MEG—and balanced demand from the beverage and packaging sectors. Despite minor logistical disruptions and subdued regional sentiment, stable inventory management and resilient non-oil economic performance helped sustain price levels. However, by February, A combination of sluggish global demand, weak freight rates, and anticipatory inventory stockpiling ahead of Ramadan led to excess supply in the market. Additionally, lower MEG and PTA feedstock prices reduced production costs, enabling sellers to offer competitive prices, pushing values down. In the end of the quarter, bearish momentum intensified, driven by elevated inventories, weakened Asian import flows, and subdued procurement activity. Softening global crude oil prices and declining feedstock MEG costs pressured manufacturers’ margins, contributing to further price reductions. Despite a seasonal demand uptick during Ramadan, PET prices remained under pressure due to oversupply and cautious downstream procurement. This overall market trajectory signaled a persistent bearish sentiment throughout the first quarter, culminating in a 4.0% price drop in Saudi Arabia by the end of Q1 compared to the previous quarter, with rates settling at USD 1,049/MT Ex-Riyadh.
For the Quarter Ending December 2024
North American
PET prices in North America exhibited a sluggish trend during Q4 2024, with a notable decline observed throughout the quarter. In the early part of Q4, prices dropped due to weak demand from key sectors like bottle and food packaging, along with low production costs driven by a significant decrease in PTA prices. The influx of imports from Asia and an oversupply in the market further pressured prices. Despite stable feedstock costs, weak demand and high supply levels sustained the downward trend.
In the mid-quarter period, the market stabilized as weak demand persisted and supply remained abundant. Although feedstock prices fluctuated, including a rise in MEG, PET prices stayed steady, bolstered by high inventory levels and limited production. Economic challenges, including low consumer demand, led to cautious purchasing strategies across industries, which further subdued market activity.
By the final weeks of Q4, PET prices continued to decline, driven by weak demand, minimal support from feedstock costs, and subdued market activity. Logistics pressures and geopolitical factors exacerbated the situation. As a result, PET prices in Mexico dropped by 10.6%, reaching USD 1118/MT DEL Veracruz.
Europe
The European PET resin market experienced a consistent decline throughout Q4 2024, influenced by weak downstream demand, lower production costs, and economic challenges. In the early part of the quarter, reduced demand from the bottle and food packaging sectors, coupled with a significant drop in PTA prices, drove the bearish trend. Although MEG prices remained stable, oversupply from increased imports and domestic production pressured the market further. Low consumer confidence amid economic uncertainty added to the weak sentiment. By mid-Q4, the market's downward trajectory continued, with cautious purchasing behavior, steady PTA costs, and a decline in MEG prices sustaining the trend. Logistical challenges, such as port disruptions, further strained the market, while downstream demand remained subdued despite marginal improvements in domestic production. In the late part of the quarter, seasonal stocking ahead of the holiday season and moderate supply levels provided little relief as weak demand persisted. The transition to recycled PET (rPET), coupled with logistical uncertainties and concerns about 2025, further impacted market activity. Conclusively, PET prices in Europe fell 8.8%, reaching USD 1165/MT FD Antwerp by December-end.
South America
The South American PET market, particularly in Brazil, exhibited a declining trend throughout Q4 2024 due to weak demand, reduced production costs, and lower feedstock prices, especially for PTA. In the early quarter, subdued downstream demand and high supply from previous months kept market conditions bearish. Midway through the quarter, despite weak demand and abundant supply, prices stabilized due to steady feedstock costs and high inventory levels supported by low-priced Asian imports. Rising inflation and weak consumer activity further dampened demand, while supply disruptions from strikes and a slight rise in crude oil prices had minimal effect on pricing. By December, the market faced additional pressure from economic uncertainty, high interest rates, and inflation concerns, exacerbated by global factors like the U.S. election results. Despite stable supply and lower feedstock costs, cautious market sentiment and limited consumption drove a further decline in PET prices. Conclusively, the South American PET market saw a 9.2% decline in Brazil during Q4 2024, reflecting ongoing economic challenges and subdued demand across the region.
MEA
The PET resin market in the MEA region experienced an overall declining trend during Q4 2024, despite monthly fluctuations. In early Q4, Saudi Arabia's PET prices saw a downturn due to low-cost Asian imports, and declining feedstock prices. Weak downstream demand, rising inventories, and falling crude oil prices further pressured the market. Traders adjusted prices to address oversupply challenges. In mid-Q4, PET prices in Saudi Arabia stabilized due to sufficient inventories and steady imports, particularly from China, where prices declined. Moderate demand from the packaging and beverage sectors supported this stability. Crude oil price hikes following OPEC+ decisions had limited impact on PET market dynamics, as supply and demand remained balanced, and feedstock prices remained steady. Strategic inventory management by traders also contributed to the stable pricing environment. By late Q4, the downward trajectory resumed as strong import volumes and abundant domestic supply led to elevated inventories. Despite stable feedstock costs and moderate demand from packaging and beverage industries, subdued market activity and cautious purchasing kept prices under pressure. Asian exporters offered significant discounts to clear inventory, further driving a 3.7% decline in PET prices in Saudi Arabia by the quarter's end.
APAC
During Q4 2024, the APAC PET market experienced a persistent decline due to multiple factors. Early in the quarter, falling international oil prices and weak downstream demand weighed heavily on market sentiment. While a brief increase in PTA costs provided momentary support, limited domestic demand, abundant supply, and reduced export activity led to downward price adjustments. Midway through Q4, the bearish trend continued as declining feedstock and crude oil prices further eroded cost support. Domestic consumption remained sluggish, and overseas inquiries were minimal, reflecting a cautious market environment. The rising freight costs and logistical uncertainties further dampened export activities, adding to market pressures. By the end of November, PET prices had fallen, reflecting the ongoing supply-demand imbalance and subdued sentiment. In the final phase of Q4, weak demand from the bottle chip sector and seasonal factors, combined with high inventory levels, maintained downward pressure on prices. Despite steady production and stable raw material costs, low procurement activity before the Christmas and New Year period further impacted the market. By quarter-end, PET prices in China had declined by 7%.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Polyethylene Terephthalate (PET) market experienced a notable decline in prices, influenced by several critical factors. Following a stable trend in the first two months, prices dropped significantly in the latter part of the quarter. This decline was primarily driven by weak downstream demand, an oversupply resulting from the restart of production plants, and low production costs. The reduction in raw material prices, particularly for key feedstocks such as Mono Ethylene Glycol (MEG) and Purified Terephthalic Acid (PTA), also significantly contributed to the downward pressure on PET pricing.
Mexico notably experienced the most pronounced price fluctuations during this period. Despite the overall declining trend in PET prices throughout the quarter, the market showed a 4% increase compared to the previous quarter, indicating some resilience. Additionally, MEG prices remained elevated compared to the same quarter last year, reflecting a 16% increase, which highlights the complexities in the raw material market.
By the end of the quarter, the price for PET Bottle Grade in Veracruz, Mexico, was recorded at USD 1251/MT. This figure underscores the challenging market environment characterized by declining prices and shifting demand dynamics throughout Q3 2024.
South America
In Q3 2024, the South American Polyethylene Terephthalate (PET) market saw a significant decline in prices due to several key factors. After a stable trend in the first two months, prices dropped sharply in the latter part of the quarter. This decline was mainly driven by weak downstream demand, an oversupply resulting from the restart of production facilities, and low production costs. Additionally, falling raw material prices exerted considerable downward pressure on PET pricing. Brazil experienced the most pronounced price fluctuations during this period. Despite the overall downward trend in PET prices throughout the quarter, the market recorded a 4% increase compared to the previous quarter, indicating some resilience in the face of challenges. Furthermore, MEG prices remained elevated compared to the same quarter last year, showing a 14% increase, which underscores the complexities within the raw material market. By the end of the quarter, the FOB price for PET Bottle Grade in Santos, Brazil, was reported at USD 1330/MT.
MEA
In Q3 2024, the pricing landscape for Polyethylene Terephthalate (PET) in the MEA region exhibited a dynamic and mixed trend. The initial two months saw a notable increase in prices, primarily driven by high import costs. Contributing factors included rising feedstock prices, particularly for MEG and PTA, along with elevated upstream crude oil prices and significant shipping charges. This combination was further bolstered by strong consumption levels across various downstream sectors, particularly in the beverage and packaging industries. However, the latter part of the quarter marked a significant shift, as prices began to decline sharply. This downturn can be attributed to reduced import costs from international markets and a decrease in key feedstock prices, which alleviated some of the upward pressure previously experienced. In Saudi Arabia, the market witnessed substantial price changes, with a 2.5% increase from the previous quarter. Despite this, PET prices remained 5.5% higher compared to the same quarter last year, signaling a resilient market. By the quarter's end, the price for PET Resin Bottle Grade in Saudi Arabia reached USD 1193/MT Ex-Riyadh, reflecting the ongoing volatility and complexity of the PET market dynamics.
APAC
In Q3 2024, the Polyethylene Terephthalate (PET) market in the APAC region experienced a notable decline in prices, driven by several critical factors. Weak demand from downstream sectors, coupled with limited trading activity, created downward pressure on market prices. Insufficient support from raw material costs further exacerbated this decline, leading to a predominantly negative market sentiment. Buyers exhibited little urgency to restock, resulting in diminished confidence across the market. Additionally, oversupply in the latter part of the quarter stemmed from increased production, as manufacturers anticipated higher future orders that ultimately did not materialize. China witnessed the most significant price fluctuations during this period, aligning with the broader regional trend. PET prices in China saw an 8.5% decrease compared to the same quarter last year, while a 5.5% drop occurred relative to the previous quarter of 2024. By the end of the quarter, the recorded price for PET in China stood at USD 977/MT, underscoring a challenging pricing environment characterized by persistent declines.
Europe
In Q3 2024, the European Polyethylene Terephthalate (PET) market faced a significant decline, influenced by a combination of supply and demand dynamics, consumer sentiment, and broader economic conditions. Initially, prices rose due to increased feedstock costs and supply disruptions, primarily driven by fluctuating crude oil prices. However, as the quarter progressed, the balance between supply and demand began to shift. While production levels improved, and inventory levels remained ample, moderate demand from downstream sectors limited any significant price increase. The stagnant market was further exacerbated by the lack of urgency among buyers to restock, despite some fluctuations in feedstock prices. Within the region, Germany experienced the most notable price changes, reflecting these broader trends. Interestingly, PET prices in Germany increased by 7.5% compared to the same quarter last year, with a 3% rise relative to the previous quarter of 2024. By the end of the quarter, PET prices in Germany were recorded at USD 1248/MT, FD Hamburg, underscoring a challenging pricing environment.
FAQs –
1. Why did PET prices decline across most regions in Q2 2025?
Prices dropped due to weak downstream demand, high inventory levels, and soft feedstock costs. Aggressive overseas offers and subdued consumer sentiment intensified bearish trends globally.
2. How did seasonal demand affect PET pricing in Q2 2025?
Summer-led demand in beverage and bottling sectors provided temporary support in late Q2, especially in Europe and MEA. However, high inventories and cautious buying limited any sustained rally.
3. Why did European PET markets remain weak despite rising summer demand?
In Europe, increased r-PET adoption, port congestion, and cautious procurement strategies overshadowed seasonal demand, keeping PET prices rangebound or declining.
4. How did regional economic conditions impact PET procurement behavior?
Macroeconomic uncertainties—such as inflation, interest rates, and exchange rate volatility—made buyers more risk-averse, resulting in cautious and delayed restocking.
