Polyethylene terephthalate plastic resin markets, also known as PET packaging resin, PET bottle resin or in many parts of the world, just PET, have been on the same roller coaster ride this year as many other global commodities. The supply chain for PET packaging resin has been jerked around by a massive rebound in demand growth (more than 2.5 times historical average) in its bigger brother, polyester fber (which is also polyethylene terephthalate). Polyester fber itself has seen a strong pull from a signifcant shortage in global cotton supplies that have cotton prices up more than 2.5 times over the same time last year. Big brother fber has stressed the global supply of raw materials, especially paraxylene (PX), to their breaking point with multiple assets throughout the world impaired. This has pushed up polyester feedstock costs approximately 40 percent over the last year at the time this is written and is forecasted to be up signifcantly more by the time this is presented.
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