- Global
1) Capacity and Capacity Utilization
The global PET chip production capacity continues to grow slowly. In 2022, the global production capacity of PET bottle grade chips was approximately 34.87 million tons, a year-on-year increase of 4.68%. The global bottle grade PET chips production capacity increased from 27 million tons in 2014 to 34.87 million tons in 2022, with a compound annual growth rate of 3.25%. In terms of production capacity utilization, considering the need for regular shutdown and maintenance of bottle grade PET chips production equipment, it has increased from 73.19% in 2014 to 86.6% in 2022, maintaining an overall high level.
2) Production and demand
The global production of bottle grade PET chips increased from 1976 million tons in 2014 to 30.21 million tons in 2022, with a compound annual growth rate of 5.45% and significant fluctuations in growth rate. Due to the excellent performance and wide application range of bottle grade PET chips , global demand is steadily increasing. Between 2014 and 2022, the global demand for bottle grade PET chips increased from 19.34 million tons to 32.93 million tons, with a compound annual growth rate of 6.88%.
- China
1) Capacity and Capacity Utilization
During the period of 2014-2022, China’s bottle grade PET chips production capacity continued to expand, increasing from 7.46 million tons to 11.82 million tons, with a compound annual growth rate of 5.92%. The capacity utilization rate increased from 79.89% to 97.46%. In recent years, under the influence of national supply side reform policies and spontaneous capacity reduction in the bottle grade PET chips industry in China, it has entered a stage of adjustment. Small scale enterprises with weak market competitiveness have been eliminated, and leading enterprises in the industry have gradually increased market concentration through capacity expansion.
2) Production and demand
Since 2014, the domestic production of bottle grade PET chips has been increasing year by year. In 2022, the production of bottle grade PET chips in China reached 11.52 million tons, a year-on-year increase of 11.3%. With the healthy development of China’s food and beverage industries in recent years, as well as the upgrading demand for packaging materials in terms of preservation, aesthetics, transportation, and environmental protection, the demand for bottle grade PET chips products in China has shown a steady growth trend. In 2022, the demand reached 11.71 million tons, an increase of 6.75% year-on-year.
