U.S. R-PET Market Maintains Price Stability Amid Minor Fluctuations in August 2024

As of the end of August 2024, the U.S. Recycled Polyethylene Terephthalate (R-PET) market remained remarkably stable, with price holding at USD 1,250 per MT per MT for clear flakes grade on FOB – Los Angeles basis. This consistency in pricing indicates the balance between supply and demand that has been a key feature of the R-PET market throughout the month.

In late July, R-PET price saw a nominal growth of 1%, increasing from USD 1,240 to USD 1,250 per MT. This uptick was largely due to a short-term rise in demand from sectors such as food packaging and bottling, which continue to rely on R-PET as part of their sustainable production processes. Once the increase was observed, the market stabilized, and price remained steady throughout August with no further significant changes.

The U.S. R-PET market has shown strong resilience in 2024. The demand for R-PET, especially from industries focused on sustainability, has helped maintain price stability. These industries are increasingly emphasizing the use of recycled materials to meet environmental goals, and R-PET has emerged as a preferred choice. Additionally, manufacturers have effectively managed their supply chains and inventories, ensuring that fluctuations in demand are met without causing drastic price movements.

Looking forward, market analysts at ChemAnalyst predict that the U.S. R-PET market will maintain its stable trajectory through September, with price likely to hover around USD 1,280 per MT. In October, R-PET price is expected to rise by approximately 2.4%. This anticipated increase will be driven by heightened demand from the packaging industry, which typically experiences a surge in activity during the final months of the year as manufacturers ramp up production.

Despite this expected price rise in October, some minor price corrections could occur in November and December as seasonal adjustments take place. These corrections may result from shifts in consumption patterns, but price is forecast to stabilize again by January 2025. The ability of the R-PET market to respond to changing conditions while maintaining overall stability underscores its importance in the recycling and sustainability sectors.

In conclusion, the U.S. R-PET market is expected to continue its stable performance with minor fluctuations in the coming months. Manufacturers and market participants should remain adaptable, staying attuned to shifts in demand, particularly as R-PET continues to play a vital role in sustainable production practices. The steady demand for R-PET from eco-conscious industries, especially in packaging, will likely support the long-term stability of the market.