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Polyethylene terephthalate resin or PET in the US is primarily used in the manufacture
of carbonated soft drinks and water bottles, as well as in different food packaging applications.
Paraxlyene and ethylene glycol are the major intermediates for PET.
Feedstock costs are correlated to crude oil prices, as well as to the global supply and
demand balances.
Prices for PET have previously risen to near record highs on strong crude oil prices and
cotton shortages, which tightened the market for polyester intermediates globally. Consolidation
is expected to bring greater pricing power and margins for US PET producers.