25 YEARS ANNIVERSARY 26 PETplanet Insider Vol. 25 No. 05/24 www.petpla.net 25 YEARS ANNIVERSARY PET production and demand In 2022, PET converter demand for applications such as bottles, films and sheet in the EU27+3 region stood at 5.0 million tonnes. PET production (including virgin and recycled) reached 3.9 million tonnes in 2022, as illustrated in the figure, showing a downward trend in relation to previous years. The difference between PET demand and production had to be met with imports, as covered in the subsequent sections. Following the years marked by Covid related issues, 2022 saw a converter demand growth of approximately 7% in relation to 2020. In relation to 2019, that change represents 2%, showing recovery and marginal growth compared to pre-pandemic demand levels. Whilst 2022 started with strong demand, unfavourable economic conditions built up, hindering further demand growth. There was an expectation that the lifting of Covid-related restrictions would boost demand on the back of higher consumer spending on travelling, and a return to typical purchasing patterns, but the summer peak season was lower than expected and converter demand was subject to continued uncertainty. 2022 was impacted by the subsequent rise in inflation and costof-living, which put pressure on end-consumer disposable income, as well as the challenging macroeconomic scenario, including recessionary fears towards the end of the year. Compounded by the rise in energy costs, caused by the Russia-Ukraine war, resulting in rapid changes in supply and pricing – affordability was affected for consumers and producers alike. Production In 2022, European virgin PET production for applications such as bottles, films and sheet (trays), strapping and other reached 2.3 million tonnes while production from recycled material reached 1.6 million tonnes. High energy prices and production costs, set against reduced margins and demand for PET, impacted virgin production output significantly in the EU27+3 region, which decreased in 2022 when compared to previous years. rPET production also faced challenges during the year, mainly related to record high energy costs and variable availability of high-quality feedstocks, discussed in more detail further in the rPET section of the report. However, overall production of rPET showed an increase of 0.3 million tonnes in relation to 2020, offsetting the decrease in virgin PET production during the year. In 2022, rPET production represented around 40% of total PET production in the EU27+3 region, an increase in relation to 2020, when rPET represented approx. 30% of total PET production in the region. www.icis.com www.unesda.eu CONTEXO GMBH Tel. +49 (0) 7181 / 606-100 info@contexo-gmbh.de www.contexo-automation.de HIGHSPEED ASSEMBLY MACHINES CARTON CLOSURES POUCHES, CANS AND MORE PET CLOSURES + TETHERED CAPS PET total production (virgin and recycled) and converter demand in the EU27+3 region between 2018 and 2022. It only includes PET used in applications such as bottles, films and sheet (trays). Source: Icis
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