PET Industry Hurt by Economic Downturn

The polyethylene terephthalate (PET) industry is feeling the pressure of the economic downturn. Producers, faced with oversupply, are being forced to rationalize capacity. “In previous economic downturns, PET’s growth rate continued well-above GDP as it replaced other packaging materials and penetrated new applications,” says Keith D. Morley, strategy and business research manager/polymers business group at Eastman Chemical. However, PET producers say demand softened during the third quarter of 2008 as consumers’ wallets tightened...

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