The US Department of Commerce has preliminarily found that certain Indian producers or exporters of PET film, sheet and strip sold in the US below normal value between 1 July 2024 and 30 June 2025, in its administrative review of the antidumping order published on 30 June 2025. The review, initiated on 22 August 2025 for eight companies including SRF, Polyplex, Garware Hi-Tech Films and Ester Industries, was rescinded for some of them; the published abstract names neither the companies found to have dumped nor the margins. The results apply from 19 October 2026 and are open to comment before final results.
Why this mattersOnce final, the company-specific margins will set US duty rates for India's main PET film exporters and the landed cost of their film for US converters.
- Commerce preliminarily finds that certain producers or exporters sold PET film in the US below normal value from 1 July 2024 to 30 June 2025
- The antidumping order on PET film from India (A-533-824) was published on 30 June 2025
- The review was initiated on 22 August 2025 for Cosmo First, Chiripal Poly Films, Ester Industries, Garware Hi-Tech Films, JPFL Films, Polyplex Corporation, SRF and Vacmet India
- Commerce rescinded the review for certain companies
- The preliminary results apply from 19 October 2026; interested parties may comment before final results
India's Directorate General of Trade Remedies initiated an antidumping investigation on 30 September 2026 into imports of PET film from Bangladesh, China, Thailand and the United States, on a petition from domestic producers Chiripal Poly Films, Ester Industries and Vacmet India. The probe covers biaxially-oriented PET film of 8 to 100 microns used in flexible packaging, labels, insulation and tapes, with solar-panel grade excluded. The DGTR says it found prima facie evidence of dumping and injury, with margins above de minimis for all four countries.
Why this mattersDuties across four origins would raise landed costs for Indian converters buying imported BOPET and shield domestic film makers' prices in a market already carrying global oversupply.
- DGTR initiated the antidumping investigation on 30 September 2026.
- Petition filed by Chiripal Poly Films, Ester Industries and Vacmet India.
- Scope covers biaxially-oriented PET film of 8 to 100 microns; solar-panel grade is excluded.
- Imports from Bangladesh, China, Thailand and the United States are under investigation.
- DGTR found dumping margins above de minimis for all four countries at ex-factory comparison.
- Normal value for Bangladesh, Thailand and the US was constructed from production costs, expenses and profit.
India's Directorate General of Trade Remedies has recommended definitive anti-dumping duties for five years on PET film imports from Bangladesh, China and Thailand, in final findings dated 29 September 2026 that concluded dumped imports had undercut domestic producers' prices. Rates reach USD 218 per tonne for most Bangladeshi exporters, USD 54-361 for China and USD 198-366 for Thailand; AKIJ Biax Films, the only cooperating Bangladeshi exporter, faces USD 58 per tonne. The duties apply only once notified by India's finance ministry; the case was brought by Chiripal Poly Films, Ester Industries and Vacmet India.
Why this mattersTariffs on PET film, a flexible-packaging substrate for food, pharma and consumer goods, raise import costs for Indian converters and protect domestic producers from Bangladeshi, Chinese and Thai supply.
- DGTR recommended duties of up to USD 218/tonne on most Bangladeshi PET film exporters, in final findings dated 29 September 2026.
- AKIJ Biax Films, the only cooperating Bangladeshi firm, faces a lower duty of USD 58/tonne.
- China faces duties of USD 54-361/tonne and Thailand USD 198-366/tonne, depending on cooperation.
- Bangladesh's PET film shipments to India rose from 12 tonnes in FY2021-22 to 2,763 tonnes in FY2024-25, about 3.4% of India's PET film imports.
- China supplied 26,086 tonnes and Thailand 12,870 tonnes of PET film to India in the review period.
- Duties take effect only if notified by India's finance ministry; the probe was triggered by Chiripal Poly Films, Ester Industries and Vacmet India.
- Preliminary anti-dumping duties on PET film from China, Bangladesh and Thailand were imposed on 21 March 2026.
- The parallel anti-dumping case against the United States was terminated after petitioners withdrew that part of the complaint.
- Preliminary anti-dumping duties were imposed on 21 March 2026 ahead of the final determination
- A parallel investigation into US-origin PET film was terminated after petitioners withdrew that part of the complaint
Loop Industries' board has formed a Strategic Alternatives Committee to evaluate options including a sale, merger, going-private transaction or licensing deals. The move follows the separation of the Chairman and CEO roles, with the committee's first task to help secure funding for Loop's planned India recycled-PET joint venture. No timetable has been set.
Why this mattersA formal sale-or-merger review at a listed recycled-PET technology developer signals funding pressure on next-generation chemical recycling capacity ahead of stricter recycled-content rules.
- Loop Industries' board formed a Strategic Alternatives Committee on 17 September 2026
- The committee follows Jeff Geygan's appointment as Chairman, separating the Chairman and CEO roles previously held together
- Options under review include a sale, merger, going-private transaction, licensing deals, regional joint ventures and corporate restructuring
- The committee's immediate priority is securing Loop's required capital contribution and project-level financing for its planned India joint venture
- Founder and CEO Daniel Solomita remains in charge of operations, including the India joint venture and commercialisation
- No timetable has been set and the company has not decided on any specific alternative
- Lenders have proposed a 70/30 debt-to-equity split for the Infinite Loop India project financing, now in technical due diligence, with Loop and Ester Industries each covering 15% of the equity at about SOFR plus 3%
- Loop applied for a USD 28m clean-technology subsidy from the Indian state of Gujarat, payable over eight years if approved
- Monthly cash overhead was cut to USD 500,000, against total liquidity of USD 3.6m as of 31 May 2026
- Loop signed a letter of intent for 15,000 tonnes of recycled PET with a separate textile apparel brand, which has indicated total annual demand appetite of up to 90,000 tonnes
- Daniel Solomita stepped down as board chairman one week before the 17 September 2026 announcement, remaining a board member
- Jeff Geygan, the new chairman, previously chaired Climb Global Solutions and Rocky Mountain Chocolate Factory
- The ELITe joint venture plant in Gujarat, India is valued at USD 170m with 70,000 metric tons/year capacity
ELITe, a 50:50 joint venture of India's Ester Industries and Canada's Loop Industries, has secured an order to supply up to 15,000 tonnes of recycled PET resin to an undisclosed global sports and athletic brand. The material will come from a new chemical recycling plant under construction in the PCPIR Dahej region of Gujarat, being built at a cost of Rs 1,600 crore with 70,000 tonnes of annual capacity.
Why this mattersThe deal signals brand-owner demand for chemically recycled PET and gives Loop's depolymerisation technology its first major India-based commercial reference.
- ELITe is a 50:50 joint venture between Ester Industries and Loop Industries.
- The order covers up to 15,000 tonnes of recycled PET resin for a global sports and athletic brand not publicly named.
- The greenfield plant is being built in the PCPIR Dahej region of Gujarat, India.
- Investment in the chemical recycling plant is Rs 1,600 crore.
- The facility will have annual production capacity of 70,000 metric tonnes.
- The plant will use Loop Industries' depolymerization technology to convert polyester waste into DMT and MEG monomers.
