Asia has excess PET resin and raw materials, and they are exporting both. EU is amid an energy crisis damaging the overall economy and the demand for PET with it. Imports flood both Europe and North America displacing domestic production. Meanwhile, US consumption is good, but faces an uncertain future with the recession and as both imports and rPET displace domestic virgin. Brands continue to drive revenues instead of volume further reducing demand for PET.
In a "Huntley-Brinkley" style, Steve and Patrick will provide you with understanding about why there are vast differences across the globe and what this portends for the future of PET.