The global demand for PET-based flexible packaging saw compound growth of 7% during last decade due to application in the FMCG and food sectors, according to GBI Research. GBI Research analysis indicates that fast-growing economies will lead Brazil, Russia, India and China (BRIC) to become dominant forces in the global PET market. A significant portion of demand for PET came from the Asia-Pacific region, which accounted for 40.6% of global demand during 2010. This is expected to increase to 47.8% by 2020, as China is rapidly emerging as a global petrochemical products manufacturing hub. China is anticipated to be the PET market leader towards 2020 due to major PET players focusing their operations within the country. The announcement of anti-dumping duties on imports from other regions, alongside significant capacity additions, means that Brazil and Russia’s PET markets are also expected to expand towards 2020. In addition, India’s large population is causing consumption of packaged goods to rise, creating increased demand for PET capacity additions. Flexible packaging will continue to grow in importance as major retail chains demand greater product protection and longer shelf-life for various products, said GBI Research. Carbonated soft drinks accounted for a share of 31.5% in the demand for PET during 2010, while the food and beer sectors accounted for respective shares of 22.4% and 11.4%. Global PET demand stood at 6,472,350 tons in 2000, increasing at a compound annual growth rate of 6.9% to reach 12,621,553 tons in 2010. This upward trend is expected to continue in the near future, with global PET demand tipped to reach 23,452,281 tons by 2020.