For the Quarter Ending March 2025
North America
The R-PET market in North America remained largely stable throughout Q1 2025. Especially in USA, during January, market participants observed consistent procurement activity, especially from the packaging sector, with prices maintaining steady levels due to sufficient domestic supply and a favourable recycling landscape. By February, downstream offtakes continued at a moderate pace, supported by state-level sustainability mandates. However, competition from lower-priced virgin PET limited any major price growth.
In March, the market sentiment was cautious, and prices reduced slightly compared to February amid normalized demand and high inventory levels among recyclers. Traders reported reduced export activity, while feedstock costs remained stable, providing no significant support to raise prices. While no drastic fluctuations occurred during the quarter, recyclers faced margin pressures as procurement from textile and bottling sectors was slower than expected.
Overall, the U.S. R-PET market concluded Q1 with prices at USD 1,200 per MT for clear flakes grade, a modest price correction but continued to show a well-balanced environment driven by continuous demand fundamentals and adequate domestic collection rates.
APAC
The R-PET market in the Asia Pacific region experienced mixed dynamics across Q1 2025, with divergent trends between major economies like China and India. In China, the quarter began with relatively stable sentiment, but prices steadily declined due to bearish post-holiday demand and excess inventory among recyclers. Packaging and textile sectors resumed operations gradually following the Lunar New Year, but restocking activity remained limited. Export inquiries were average, and the availability of post-consumer PET bales improved, further pressuring prices. Market participants adopted a cautious approach amid economic uncertainties and reduced downstream offtake. Conversely, the Indian market showed resilience throughout the quarter. Strong demand from FMCG and textile companies, combined with policy-driven momentum related to recycled content regulations, supported consistent procurement. While feedstock availability remained stable, regional transportation challenges and moderate fluctuations in bale quality occasionally affected operations. The overall tone in India remained firm, with restocking activities supporting recycling output. While China saw bearish conditions, India maintained a steady and optimistic market outlook during the quarter.
Europe
In Europe, R-PET prices fluctuated notably through Q1 2025. Especially in Germany, January began with a downward trajectory following reduced downstream procurement and limited packaging sector activity. However, a modest 2.4% recovery in early February suggested improving market sentiments. By March, reduced imports from Eastern Europe and inventory restocking boosted the domestic demand. As a result, prices rose by 4.4% compared to February, driven by tight supply and firm demand from downstream sectors preparing for the upcoming quarter. Traders noted better offtake from companies seeking sustainable alternatives to virgin PET. Though feedstock costs stayed mostly unchanged, stable input economics allowed recyclers to operate at moderate capacity levels. Demand from the textile segment was consistent but not overly robust, with the fibre-grade market trailing behind bottle-grade demand. Overall, the market closed the quarter on a stronger note compared to the initial days, with Germany’s R-PET market lifted by tight supply dynamics, supportive regulatory climate, and strengthened demand for food-grade recycled plastics,
MEA
The R-PET market in Saudi Arabia maintained a steady tone during Q1 2025 with limited fluctuations. January witnessed a marginal 0.5% drop in prices due to sufficient inventory and conservative procurement trends. February saw an additional 1.4% decline as demand from textile and packaging sectors slowed, and high inventory levels further pressured prices. Virgin PET’s cost competitiveness continued to challenge R-PET demand in key applications. However, by March, market fundamentals stabilized with mild restocking ahead of Ramadan. Prices remained unchanged compared to the previous month, indicating a balance between consistent domestic supply and steady, though cautious, downstream consumption. No major import or export disruptions were reported, and domestic recyclers continued operating at normal capacity. While textile demand remained subdued, FMCG packaging restocking lent mild support. Overall, Q1 2025 was characterized by low volatility, with producers closely aligning output to real-time demand. The Saudi market ended the quarter on a flat note, shaped by supply-demand equilibrium and moderate international trading scenario.
For the Quarter Ending December 2024
North America
In Q4 2024, the R-PET market in North America encountered a challenging landscape characterized by fluctuating demand across key sectors such as packaging and textiles. The automotive industry experienced a slowdown due to rising interest rates that curtailed new vehicle production and renovations. This decline led to reduced orders for R-PET products used primarily for automotive applications like dashboards and trim components.
However, the packaging sector emerged as a bright spot due to sustained demand from e-commerce. The need for lightweight and protective packaging solutions drove increased usage of R-PET in various applications such as food packaging and consumer goods. Manufacturers focused on enhancing product performance while addressing sustainability concerns through innovations in recycled content and alternative materials that align with consumer preferences for greener options.
By December, while some producers adjusted their inventories due to shifting demand patterns from construction and consumer goods sectors, overall sentiment remained cautiously optimistic. Stakeholders anticipated gradual recovery into 2025 as construction activities began to stabilize and innovations in sustainable packaging gained traction within regulatory frameworks aimed at reducing plastic waste.
APAC
In Q4 2024, the R-PET market in the APAC region, particularly in China, experienced significant growth driven by increasing consumer awareness of sustainability and environmental responsibility. The demand for recycled PET surged as brands across various sectors, including food and beverage, cosmetics, and textiles, committed to incorporating recycled materials into their products. This shift was largely influenced by stringent government regulations aimed at reducing plastic waste and promoting circular economy practices.
However, challenges persisted due to fluctuating raw material costs and competition from virgin PET, which sometimes offered lower prices. Manufacturers faced logistical hurdles that affected supply chains, particularly in sourcing high-quality recycled materials. By December, many companies were investing in advanced recycling technologies to improve the quality of R-PET and expand production capacity.
Despite these challenges, the overall sentiment remained positive as stakeholders anticipated continued growth into 2025. Increased collaboration between governments and industries was expected to enhance recycling infrastructure and collection systems, ultimately supporting a more robust R-PET market aligned with global sustainability goals.
Europe
In Q4 2024, the R-PET market in Europe faced significant challenges primarily due to economic uncertainties impacting key industries such as automotive and packaging. The automotive sector saw a decline in production rates as manufacturers dealt with supply chain disruptions and reduced consumer demand for new vehicles. This downturn resulted in decreased orders for R-PET used in automotive applications like interior components and insulation.
Conversely, the packaging industry remained relatively stable amid growing e-commerce activity. R-PET was increasingly utilized for protective packaging solutions; however, stringent regulations regarding plastic waste prompted many companies to explore alternative materials while enhancing their sustainability practices. By December, manufacturers grappled with high inventory levels due to decreased consumption across various sectors.
Despite these hurdles, there was cautious optimism regarding future growth driven by innovations in sustainable materials and recycling initiatives. Stakeholders expected that regulatory support for eco-friendly practices would significantly influence market dynamics moving into 2025 as industries adapt to stricter environmental standards across Europe’s diverse markets.
MEA
In Q4 2024, the R-PET market in the Middle East and Africa (MEA) region demonstrated resilience amid evolving consumer preferences and regulatory pressures. Countries such as Saudi Arabia made substantial investments in recycling infrastructure as part of their broader commitment to sustainability. This focus on eco-friendly practices led to a growing demand for R-PET across various sectors, particularly in packaging and textiles.
However, the market faced challenges from fluctuating oil prices, which impacted the cost competitiveness of virgin PET compared to recycled alternatives. Additionally, logistical issues related to transportation and distribution hindered the efficiency of R-PET supply chains in some areas.
By December, while some manufacturers reported reduced margins due to aggressive pricing from virgin PET producers, overall market sentiment remained stable. Stakeholders anticipated gradual recovery into 2025 as investments in recycling facilities expanded and public awareness of environmental issues continued to grow. Collaborative efforts between governments and private sectors were expected to enhance the region’s capacity to meet rising demand for sustainable materials.
For the Quarter Ending September 2024
North America
In Q3 2024, the Recycled Polyethylene Terephthalate (R-PET) market in North America exhibited a stable yet slightly upward price trend. The market saw prices increase from the previous quarter, with a quarter-on-quarter change of approximately 2.6%. This increase was influenced by a combination of factors, including moderate downstream demand from the packaging and textile industries. Despite the steady demand, increased inventory levels due to higher recycling outputs exerted pressure on prices, preventing further upward movement.
The costs of key feedstocks, such as Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG), experienced a gradual decline, contributing to a more balanced pricing environment. Improved container availability for exports also played a role in maintaining market equilibrium. In the United States, price adjustments were evident, but overall changes remained within a narrow range, reflecting a period of relative stability.
The quarter concluded with the price of R-PET Clear Flakes DEL in Los Angeles standing at 1,178 USD/MT, unchanged from August levels. Despite economic uncertainties, the pricing environment remained steady, underpinned by a balance between supply and demand dynamics. This period of stability highlighted the resilience of the R-PET market in adapting to both domestic and global market conditions.
APAC
In Q3 2024, the Recycled Polyethylene Terephthalate (R-PET) market in the APAC region showed a slight upward trend, reflecting a more stable pricing environment compared to earlier fluctuations. The price movement was influenced by a mix of factors, including an oversupply in the market and steady demand from downstream sectors such as packaging. Despite global economic uncertainties, the region managed to maintain a degree of price stability through balanced supply chain conditions and competitive pricing strategies. In China, which saw some of the most notable price changes, the market faced challenges such as seasonal variations and the competitive landscape from lower-priced alternatives. These factors contributed to a marginal increase in prices during the quarter. Compared to Q2, the average prices in Q3 rose by approximately 1.4%, highlighting a period of relative steadiness amidst broader market challenges. The latter part of the quarter recorded a minor decrease of about 1% between August and September, indicating a slight correction in pricing. The quarter ended with R-PET Flakes FOB Shenzhen priced at 823 USD/MT, reflecting a cautious yet stable market outlook. This pricing trend underscored the region's ability to manage supply-demand dynamics while navigating through economic uncertainties, making Q3 a period of resilience for the R-PET market.
Europe
Throughout Q3 2024, the European market for Recycled Polyethylene Terephthalate (R-PET) experienced a moderate decline in prices following an initial rise earlier in the year. The market dynamics were shaped by various factors, including changes in feedstock availability and demand trends across key sectors. An oversupply of Purified Terephthalic Acid (PTA), due to the restart of production plants, resulted in lower feedstock costs, which applied downward pressure on R-PET prices. Simultaneously, moderate demand from downstream industries like packaging and elevated inventory levels led to cautious buying behaviour, contributing to the overall price softness. In Germany, which saw the most notable price adjustments, the market mirrored regional trends. Despite the increase in average prices by approximately 2.7% from the previous quarter, compared to the same quarter last year, there was a notable decline, highlighting ongoing market challenges. The second half of Q3 recorded a slight decrease of about 1% compared to the first half, indicating a period of adjustment. The quarter concluded with R-PET Food Grade FD Hamburg prices at 1,703 USD/MT, reflecting a cautious market sentiment amidst fluctuating supply and demand dynamics. This quarter emphasized the impact of feedstock oversupply and moderate demand on pricing trends in the European R-PET market.
MEA
In Q3 2024, the Recycled Polyethylene Terephthalate (R-PET) market in the MEA region exhibited a stable pricing environment, with minimal fluctuations observed throughout the quarter. The market's consistency was influenced by several factors, including steady demand from key industries like packaging and textiles and an adequate supply of R-PET from local recycling facilities. Additionally, regional government initiatives supporting recycling efforts bolstered the overall market stability, helping to maintain equilibrium in prices. While there was a notable decrease in prices compared to the same quarter last year, the quarter-on-quarter change in 2024 remained nearly flat, reflecting a period of price stabilization. In Saudi Arabia, which saw the most notable adjustments, prices showed resilience against external pressures, maintaining a balanced trend. The latter part of the quarter recorded a minor dip, with prices settling at 845 USD/MT for R-PET Flakes Bottle Grade Spot Ex-Jeddah. This stability was further supported by seasonal factors that kept market sentiment neutral. The consistent pricing patterns observed during the quarter underscore a sense of predictability, highlighting the region's capacity to manage supply-demand dynamics effectively despite broader economic uncertainties.
For the Quarter Ending June 2024
North America
The second quarter of 2024 has been marked by a notable increase in Recycled Polyethylene Terephthalate (R-PET) prices across the North American region. This quarter has seen significant upward pressure on R-PET pricing, driven by a combination of robust demand from the packaging and textiles industries, and persistent supply constraints exacerbated by vessel shortages and elevated freight costs.
Heightened crude oil prices have further inflated production costs, contributing to the price surge. In the USA, R-PET prices have experienced the most pronounced changes within the region, reflecting an overall trend of increasing prices and a bullish market sentiment. Seasonality played a critical role, as the packaging industry ramped up demand in preparation for peak summer sales, adding further pressure on an already tight supply chain. The correlation between rising transportation costs and higher raw material expenses also cannot be overstressed, as it significantly impacted the pricing landscape.
The first and second halves of the quarter showed a 1.6% price difference, with the latter half seeing higher prices due to compounded demand pressures and logistical challenges. Concluding the quarter, the price of R-PET Clear Flakes in the USA stood at USD 1175/MT DEL Los Angeles, illustrating the escalating pricing environment. Overall, the R-PET market in North America, particularly the USA, reflects a positive pricing environment, driven by sustained demand and constrained supply.
APAC
In Q2 2024, the R-PET market in the APAC region exhibited a dynamic pricing environment, primarily driven by a confluence of factors resulting in fluctuating market prices. Several key elements influenced the price ascensions observed during this quarter. Increased demand from the packaging and textile industries, coupled with supply constraints due to vessel shortages and elevated freight charges, played a pivotal role. Additionally, the rise in crude oil prices augmented production costs, further propelling the upward price trajectory of R-PET. An intensified global focus on sustainable practices and enhanced consumer awareness also exerted pressure on manufacturers to incorporate more recycled materials, thereby contributing to the heightened demand for R-PET. China, in particular, witnessed the most substantial price changes within the APAC region. Seasonal trends, such as the summer surge in packaging demand, significantly impacted the R-PET market. Correlations between seasonal demand and price increases were evident, with a notable 2.2% price comparison between the first and second halves of the quarter. Despite a significant year-over-year price reduction from the same quarter last year and a -2.1% decline compared to the previous quarter, the market exhibited a remarkable rebound, culminating in an end-of-quarter price of USD 830 per MT for R-PET flakes on FOB - Shenzhen basis. This relatively stable yet incrementally positive sentiment underscores the resilient nature of the R-PET market in China amidst external economic pressures and fluctuating supply-demand dynamics. Overall, the pricing environment has maintained a cautiously optimistic outlook, reflecting the sector's adaptive strategies and sustained demand growth.
Europe
The second quarter of 2024 saw a robust increase in Recycled Polyethylene Terephthalate (R-PET) prices across Europe, driven by a confluence of market dynamics. The escalating costs were primarily influenced by heightened demand from key sectors such as packaging and consumer goods, which sought sustainable materials in response to regulatory pressures and consumer preferences. Supply constraints exacerbated by logistical challenges, including vessel shortages and increased freight charges, further propelled prices upward. Additionally, rising crude oil prices contributed to higher production costs, adding another layer of upward pressure on R-PET prices. In Germany, the epicentre of R-PET price volatility, the market experienced significant fluctuations. The overall trend was bullish, with prices exhibiting a clear upward trajectory. Seasonality played a role, as increased demand from the beverage sector during the summer months coincided with preparations for peak sales, leading to a surge in prices. The correlation in price changes was evident, with a significant increase from the previous quarter, indicating a positive pricing environment. However, when compared to the same quarter last year, prices were down significantly, underscoring the market's volatility and the impact of broader economic conditions. A distinct price comparison between the first and second halves of the quarter revealed a substantial increase, reflecting the sustained demand and supply constraints. Concluding the quarter, the price of R-PET Flakes FD Hamburg in Germany stood at USD 1,330 per metric ton. Overall, the pricing environment for R-PET in Europe, particularly in Germany, has been marked by a positive sentiment, driven by strong market fundamentals and external economic factors.
MEA
In Q2 2024, the pricing environment for Recycled Polyethylene Terephthalate (R-PET) in the MEA region has witnessed an overall decline, driven by several pivotal factors. A moderated demand from key sectors such as packaging and textiles, coupled with an oversupply of post-consumer PET bales, has exerted downward pressure on prices. Focusing on Saudi Arabia, which has experienced the most significant price variations, the trends indicate a persistent decline in R-PET prices. Seasonality played a crucial role, as demand typically waned post-peak seasons, contributing to the downward trajectory. The correlation between increased supply and limited demand further exacerbated the decrease in market prices. Compared to Q2 of the previous year, R-PET prices have dropped by notably, underscoring a negative sentiment in the market. When juxtaposed with the preceding quarter of 2024, there was an increase of 1.55%, suggesting a brief period of stability before resuming the downward trend. Analysing the price dynamics within the quarter, the first half saw a slight decline of 1.75% compared to the second half, reflecting ongoing supply pressures and tepid demand. The quarter concluded with R-PET Flakes Bottle Grade Spot Ex-Jeddah priced at USD 845/MT. This consistent decrease highlights a negative pricing environment throughout Q2 2024, driven primarily by supply-demand imbalances and economic uncertainties.
