More PET capacity for Europe

During 2013, the PET demand in Europe exceded capacity by 350,000 tons. According to GSI – Global Service International, the situation would be reversed from 2015 with the startup of new production capacities: 640 000 t/y in Europe and 1.64 million t/y outside Europe. Europe will remain as the main importer of PET (550 000 t in 2013 and forecast of 750 000 t in 2014) and India will be the leading exporter to Europe.
The new capacities will increase the global overcapacity, currently estimated at 6 million tons, which means the PET industry will have to deal with lower prices and with a new wave of "consolidation" in the industry. If confirmed, the low prices trend, will  reduce the price gap between virgin PET and recycled PET (rPET) and BioPet will lose competitiveness.