China: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in China

The Chinese market for polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank slightly to $X in 2022, standing approx. at the previous year. Overall, consumption recorded a slight decrease. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in China

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms fell modestly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced decline. The pace of growth appeared the most rapid in 2013 when the production volume increased by 24%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from China

In 2016, shipments abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -3.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, total exports indicated a strong expansion from 2012 to 2016: its volume increased at an average annual rate of +10.3% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2016 figures, exports decreased by -11.9% against 2014 indices. The growth pace was the most rapid in 2013 when exports increased by 43%. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2016, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms declined to $X in 2016. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 43% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2016, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from China, with a 23% share of total exports. Moreover, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with a 5.2% share.

From 2012 to 2016, the average annual rate of growth in terms of volume to Japan amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+47.6% per year) and the Philippines (+23.1% per year).

In value terms, Japan ($X) remains the key foreign market for polyethylene terephthalate and other polyethylene terephthalate in primary forms exports from China, comprising 23% of total exports. The second position in the ranking was held by Indonesia ($X), with a 7.5% share of total exports. It was followed by the Philippines, with a 5.2% share.

From 2012 to 2016, the average annual growth rate of value to Japan stood at +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+31.9% per year) and the Philippines (+11.8% per year).

Export Prices by Country

The average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2016, falling by -4% against the previous year. In general, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2013 when the average export price decreased by less than 0.1% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2016, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2016, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and Russia ($X per ton), while the average price for exports to India ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to India (-8.7%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into China

In 2016, overseas purchases of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -50.8% to X tons for the first time since 2013, thus ending a two-year rising trend. In general, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 111%. Over the period under review, imports of attained the peak figure at X tons in 2015, and then reduced remarkably in the following year.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms declined sharply to $X in 2016. Over the period under review, total imports indicated a mild expansion from 2012 to 2016: its value increased at an average annual rate of +1.5% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 40%. Over the period under review, imports of attained the peak figure at $X in 2015, and then reduced markedly in the following year.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to China, with a combined 56% share of total imports. The United States, Indonesia, Malaysia, Thailand and Vietnam lagged somewhat behind, together comprising a further 33%.

From 2012 to 2016, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +50.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of polyethylene terephthalate and other polyethylene terephthalate in primary forms to China, comprising 35% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 16% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2016, the average annual rate of growth in terms of value from South Korea stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.5% per year) and Japan (-2.8% per year).

Import Prices by Country

The average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2016, picking up by 32% against the previous year. In general, the import price, however, recorded a deep slump. The import price peaked at $X per ton in 2013; however, from 2014 to 2016, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by South Korea (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :