Stats: China’s PE imports down in Q1, but exports surge: Is this the future trend?
by Thi Huong Nguyen - thihuongnguyen@chemorbis.com
ChemOrbis Stats Wizard suggests that China’s cumulative PE imports and exports in the first quarter of 2025 experienced divergent trends. Imports edged down by approximately 2% quarter-on-quarter yet rose by over 5% year-on-year. In contrast, total exports surged by nearly 20% compared to the previous quarter, although they dipped slightly from the same period last year. In terms of value, China imported more than $4 million worth of PE resin in Q1, while exports amounted to around $274,000.
March data reflects same pattern; exports reaching record highs
PE imports in March posted sharp declines of 17% month-on-month and 11% year-on-year, marking the lowest volume since July 2024. The total import value stood at just over $1.2 million. The US remained the largest supplier, accounting for around 20% of the market share.
On the other hand, PE exports in March soared to unprecedented levels, marking the highest monthly volume since ChemOrbis began collecting data in 2000. Export value during the month reached approximately $135,000. Bangladesh led the list of export destinations with a 16% share.
For detailed figures on tonnage and more, visit ChemOrbis Stats Wizard.
Top suppliers: US gains ground, dethroning the UAE
During the first quarter of 2025, the US emerged as China’s top PE supplier, capturing an 18.3% share—an increase of 5.1% from Q4 2024, when it ranked third. Saudi Arabia’s share increased slightly, retaining its position as the second-leading supplier for two quarters in a row. Meanwhile, the UAE fell to third place.
Although the US was China’s largest overall PE supplier in Q1, a product breakdown told a different story. The UAE led HDPE and LDPE imports, while Saudi Arabia took the top spot in LLDPE. The US consistently held the second position across all these grades. In the mLLDPE segment, South Korea was the leading supplier, with the US ranking fourth.
Top buyers: Bangladesh reclaims the top spot after a year
Bangladesh overtook Vietnam to become the largest buyer of Chinese-origin PE in Q1 2025, ending Vietnam’s three-quarter streak at the top.
The Philippines also advanced to second place, while Vietnam slipped to third. Notably, Bangladesh and the Philippines saw their shares increase by 5.2% and 3.5%, respectively, while Vietnam’s dropped by 3% compared to the previous quarter.
Other Southeast Asian countries, including Cambodia, Malaysia, Indonesia, and Thailand, were among China’s top 15 PE export destinations.
What lies ahead?
Looking forward, China’s PE trade dynamics are expected to undergo notable shifts due to potential supply chain changes amid the ongoing trade war with the US.
The escalating tariff conflict between the world’s two leading economies, with China’s imposition of 125% levies on almost all PE grades, poses a serious threat to US-origin cargoes entering the Chinese market. If the two major economies fail to de-escalate tensions, the US is likely to lose its top supplier status in China’s PE import landscape.
Besides, China’s domestic PE production capacity continues to expand rapidly. In the first four months of 2025, 3.53 million tons/year of new capacity was added, with an additional 2.45 million tons/year expected by the end of July and another 300,000 tons/year by December. This massive expansion will further boost China’s self-sufficiency, likely curbing future import needs.
However, the surge in capacity comes amid persistently weak domestic demand, possibly prompting Chinese producers to intensify their export efforts. Nearby Southeast Asia remains a key target, alongside other potential markets such as Bangladesh, the Russian Federation, and India.
March data reflects same pattern; exports reaching record highs
PE imports in March posted sharp declines of 17% month-on-month and 11% year-on-year, marking the lowest volume since July 2024. The total import value stood at just over $1.2 million. The US remained the largest supplier, accounting for around 20% of the market share.
On the other hand, PE exports in March soared to unprecedented levels, marking the highest monthly volume since ChemOrbis began collecting data in 2000. Export value during the month reached approximately $135,000. Bangladesh led the list of export destinations with a 16% share.
For detailed figures on tonnage and more, visit ChemOrbis Stats Wizard.
Top suppliers: US gains ground, dethroning the UAE
During the first quarter of 2025, the US emerged as China’s top PE supplier, capturing an 18.3% share—an increase of 5.1% from Q4 2024, when it ranked third. Saudi Arabia’s share increased slightly, retaining its position as the second-leading supplier for two quarters in a row. Meanwhile, the UAE fell to third place.
Although the US was China’s largest overall PE supplier in Q1, a product breakdown told a different story. The UAE led HDPE and LDPE imports, while Saudi Arabia took the top spot in LLDPE. The US consistently held the second position across all these grades. In the mLLDPE segment, South Korea was the leading supplier, with the US ranking fourth.
Top buyers: Bangladesh reclaims the top spot after a year
Bangladesh overtook Vietnam to become the largest buyer of Chinese-origin PE in Q1 2025, ending Vietnam’s three-quarter streak at the top.
The Philippines also advanced to second place, while Vietnam slipped to third. Notably, Bangladesh and the Philippines saw their shares increase by 5.2% and 3.5%, respectively, while Vietnam’s dropped by 3% compared to the previous quarter.
Other Southeast Asian countries, including Cambodia, Malaysia, Indonesia, and Thailand, were among China’s top 15 PE export destinations.
What lies ahead?
Looking forward, China’s PE trade dynamics are expected to undergo notable shifts due to potential supply chain changes amid the ongoing trade war with the US.
The escalating tariff conflict between the world’s two leading economies, with China’s imposition of 125% levies on almost all PE grades, poses a serious threat to US-origin cargoes entering the Chinese market. If the two major economies fail to de-escalate tensions, the US is likely to lose its top supplier status in China’s PE import landscape.
Besides, China’s domestic PE production capacity continues to expand rapidly. In the first four months of 2025, 3.53 million tons/year of new capacity was added, with an additional 2.45 million tons/year expected by the end of July and another 300,000 tons/year by December. This massive expansion will further boost China’s self-sufficiency, likely curbing future import needs.
However, the surge in capacity comes amid persistently weak domestic demand, possibly prompting Chinese producers to intensify their export efforts. Nearby Southeast Asia remains a key target, alongside other potential markets such as Bangladesh, the Russian Federation, and India.
Over the past two weeks, aggressive re-exports from China have already made a strong impact in Southeast Asia, especially in Vietnam. These cargoes triggered a price collapse, with Southeast Asia’s import prices for major film grades—LDPE, LLDPE, and HDPE—falling by 5-7%, underscoring the growing influence of China’s PE outflow on regional and global PE markets.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
