Demand for PET has increased from compound annual growth rate of 11.7% from the fiscal year 2011 to the fiscal year 2016. Demand in India is primarily fuelled by the growing packaging and the FMCG sector.

Domestic PET production has been keeping pace with demand. A tremendous amount of domestic production is exported as a result of high international demand and domestic overcapacity. PET prices are driven by MEG and PTA prices, which are the raw material processed to manufacture PET. Fluctuations of the INR against the USD and demand-supply scenario in the International market also impact PET prices in India. Three companies- RIL, JBF and Dhunseri are the major market players in terms of production of PET in India.

The majority of the world's PET production is for synthetic fibers (in excess of 60%), with bottle production accounting for around 40% of global demand. The global polyethylene terephthalate market is anticipated to grow at a steady rate and will post a CAGR of more than 6% to reach 21.93 MT during the forecast period from the fiscal year 2016 to 2021. The growing demand for the sustainable and recyclable material will drive the growth prospects for the global PET market until the end of 2021. The key drivers in this market are population growth, a rise in disposable income levels, urbanization in developing economies, and growing number of fast moving consumer goods. Demand for PET is rising along with polyester, food and beverage industries determining market behavior and also the increasing use of bio-based PET products will drive the growth prospects for the global market for the next five years. Some of the major factors responsible for the growing emphasis on sustainability of environment by using eco-friendly packaging materials is the growing concern towards the need to reduce pollution. Replacement of traditional packaging applications and reduced atmospheric emissions are the reasons for increase in the demand of PET.

“Leadership of the PET market will remain with the Asia Pacific throughout 2025”.

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