Stats: China’s H1 PVC exports hit fresh record; imports reach all-time low

ChemOrbis Stats Wizard data reveal that China’s PVC exports during H1 2024 recorded a visible increase of 17% when compared to the same period of last year to hit a fresh record of more than 1.3 million tons. Imports, on the other hand, plunged to around 175,000 tons, the lowest H1 volume since ChemOrbis began keeping records in 2000.

China PVC exports head for a brand-new record in 2024, challenging the US

2023 PVC exports already saw a yearly increase of 17% to hit a record-high at 2.4 million tons. If the momentum achieved in H1 this year extends into the second half of the year, which is considered highly likely given the aggressive export impetus of China, 2024 may embrace a brand-new record-high level in PVC exports.

It is also noteworthy that the US, which is the world’s number one PVC exporter, suggests a yearly decline of 19% to around 1.3 million in the first five months of 2024, according to ChemOrbis Stats Wizard Pro. Although the US remains as the top PVC exporter – once the June data is revealed to add up to the cumulative, the gap between the US and China appears to have shrunk considerably. That is to say, China’s PVC exports now pose a bigger challenge to the world’s top PVC seller.

Exports to India breach 700,000 tons in H1

As for top PVC buyers of China during the first half of the year, India maintained its position as the biggest customer of the country. India, occupying more than half of the market with a share of 53.3%, imported 725,250 tons of PVC from China within the specified period. The country was followed by Vietnam (80,340 tons), Russia (62,750 tons), Thailand (46,890 tons), and Uzbekistan (42,200 tons).

Meanwhile, examining the partners closely to compare the first six months of 2023 and 2024, Egypt lost its place in the top five customers of Chinese PVC and dropped to the nineth place this year.

H1 imports see a remarkable annual decline

China’s PVC imports, on the other hand, were down by 35% in the first six months of 2024 from the same period of last year to be reported at 174,910 tons.

The US remained the top PVC importer in H1 2024 with its 34.1% share in the market and 59,640 tons contributed to the total imports volume. Taiwan also maintained its second place in the list with a market share of 29.2% and 51,060 tons of PVC sold to China. The countries were followed by Japan (29,960 tons), Germany (10,920 tons), and Thailand (9,920 tons).