Strong PET demand will eventually find its supply
By Perc Pineda, Ph.D., PLASTICS’ Chief Economist—Despite the fundamental strengths of PET, COVID-19 introduced unforeseen volatility to consumer behaviour across the economy. Production of common consumer goods responded accordingly. By extension, this disruption impacted PET resin demand. It is expected that production will rebound as facilities return to higher capacity and new facilities come online. As such, PLASTICS’ recent forecast calls for total resin production in the U.S. to increase by 4.0 percent this year.