European polyethylene terephthalate (PET) buyers are facing sharp, take-it-or-leave-it price increases as supply tightness deepens and production costs climb across the region, driven by force majeure declarations, plant exits, and geopolitical risks. Overseas importers and distributors should monitor this volatility for potential impacts on global PET resin availability and pricing.
Supply losses intensify market strain
Indorama declared force majeure on PET from its plants in Poland and Lithuania, the latest in a series of capacity losses. Spain's Plastiverd exited the market, and a line shutdown occurred at Novapet, also in Spain. These events, combined with months of reduced output across Europe and less competition from certain imports, have tightened regional availability and eroded buyer flexibility ahead of the seasonal peak.
Producers impose new surcharges
Suppliers are implementing additional costs. Customers are being asked to pay an extra $200/tonne for imports from Indorama, Egypt, on product yet to sail, according to sources. Freight costs have also surged, with one importer noting rates rising from $1,500/container to $3,000/tonne. These surcharges reflect the deepening supply constraints and upstream price hikes.
Buyers split on purchasing strategy
Market behavior is fragmenting. Some buyers are holding back, resisting panic and betting on stabilization. Others fear worsening tensions in the Middle East and ripple effects on global shipping routes could impede supplies heading into high-consumption months. A second producer reported evidence of the first shutdowns of preform production due to lack of resin.
What buyers should watch
Overseas buyers should track European PET supply developments closely, as force majeure events and plant closures may tighten global availability. The surge in freight costs and surcharges signals potential price pass-throughs for imports. Geopolitical risks in the Middle East could further disrupt shipping routes, affecting supply chains for bottle, fibre, and film-grade PET resins used in packaging, textiles, and engineering plastics.
China sourcing context
While the report focuses on Europe, Chinese PET producers may see increased demand from global buyers seeking alternative supply sources. However, any shift in sourcing patterns will depend on competitive pricing and logistics stability. Importers should evaluate China's PET resin export availability and pricing trends as a potential hedge against European tightness.
Source: Read the original report | Published: March 17, 2026