HOUSTON — Only in PET bottle resin could a five-year outlook calling for 13-14 percent annual growth in demand be labeled as conservative.
But that's the word industry consultant Teresa Acosta used to describe the 1996-2001 growth picture at the DeWitt Petrochemical Review in Houston. Acosta is a group vice president with DeWitt & Co. of Houston.
Demand in 1998 could approach the 1997 growth mark of 18 percent, Acosta said. South America, the Middle East and Asia could exceed the 13-14 percent rate during the five-year period.
The end result could be a global PET bottle resin market exceeding 15.4 billion pounds in 2001. That market was a mere 6.6 billion pounds in 1995.
The boom is being fueled by creative bottle marketing, including Coca-Cola Co.'s contour bottle, as well as ``old-fashioned'' 2-pint bottles for flavored milk, Acosta said. Developments in beer bottles and baby food containers each could lead to ``big, big markets,'' she added.