Driven by the rapid growth of demand in China and India, Asia has become the world's largest demand area for polyethylene terephthalate (PET).
Analysts pointed out that with the strong economic growth of China and India, coupled with a large population, the consumption of carbonated beverages (CSDs) and bottled water in the region will continue to grow rapidly, which will lead to strong growth in PET consumption. On the other hand, rapid changes in people's lifestyle will also promote the growth of packaged food consumption.
According to statistics, demand for polyester in Asia in 2009 was approximately 4.7 million tons. With the rapid growth in the output of petrochemical products, China has become the largest PET producer in Asia and exports polyester resins to many countries. Europe has become the world's second largest consumption area for PET. In 2009, PET demand was about 3.7 million tons. Russia, Italy and Germany are the major consumers of PET in Europe, and the demand for PET resin in western European countries such as Germany, France, Spain and the United Kingdom is approaching saturation. North America as the most economically developed region, its demand for PET is close to saturation. In 2009, polyester demand was about 3.1 million tons. In addition, the demand for polyester in South and Central America will grow strongly. In 2009, approximately 2 million tons of PET were consumed in Central and South America. Middle East and Africa will be the fastest growing areas for PET after Asia, consuming a total of 1.2 million tons in 2009 PET.