The market of Polyethylene Terephthalate (PET) is experiencing drastic impacts of global economic crisis. Almost all the players of this market are suffering from this crisis and are searching for best possible solutions to endure the challenging economic climate.
The reality and the stance of the World PET market and Russian PET market were addressed at 'PET 2009', the International Conference held by Creon CJSC in Moscow. Currently, the Russian PET market is more dependent on imports attributed to lack of domestic production capacities.
In addition to this, several more recessionary upshots like low priced raw materials, diminished consumers' activities, as well as volatile exchange rates which have left their marks on PET market.
The preliminary estimates reveled that the PET production of Russia in 2008 was 190,400 tons, which was 16.2 percent more than the production in 2007. However, the consumption of PET has decreased by 6 percent from 573,000 to 538,400 tons and the rest of the demand gap is filled by imports of the raw material.
Fibre2fashion News Desk - India
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