Mr. Bouzekri gave a brief introduction of Asian and world PET resin capacity growth, production growth, operating rate and forecast for those figures, and then moved to the markets in North America and Europe.

North American PET demand remain strong in 2018. NA supply has improved with the restart of Alpek PTA in Mexico and FENC having restarted Apple Grove, WV. He also analyzed the trade situation in North America. EU members PET consumption are accounting for almost three-quarter of the total PET consumption in Europe Continent. 2018 (f) Growth Rates will be fueled mainly by Western and EU countries. Packaged Water and Carbonates categories are accounting for almost 75% of the PET consumption. EU PET consumption CAGR for the period of 2019/2020 will be modest compared to 2018 forecast.

Mr. Bouzekri finally mentioned that European PET market supply was affected by BP’s PTA FM. Domestic PTA supply is back to normal and more longer since IVL have restarted its Artlant PTA unit. A reduction in anti-subsidy duties on PET from Reliance and Dhunseri, India has been implemented and is effective as October 1st, Dhunseri Group has had its duties reduced to 18.73 Euro/tonne and Reliance Industries have dropped to 29.21 Euro/tonne. If no duties protection will be taken, imports will continue to fuel European countries as almost key importers enjoy a free access to the EU region.