Stats: China’s PVC exports in first 3 quarters break record, surpassing 2 mil tons

According to ChemOrbis Stats Wizard data, China’s PVC (including E-PVC and S-PVC) exports in the first nine months of 2024 grew by 7% year-over-year, crossing the 2-million-ton threshold to reach a new record. However, Q3 exports totaled around 660,000 tons—an 8% drop from Q3 2023 and a 6% decline from Q2 2024, following steady growth over the previous two quarters.

India takes over half of China’s exports in Q1-Q3

India remained China’s largest export market for PVC in the first nine months of 2024, absorbing more than 1 million tons and claiming a 52.2% share of total exports. Compared to the same period in 2023, China’s sales to India surged by over 15%.

Other leading importers included Vietnam (126,320 tons), Russia (93,720 tons), Uzbekistan (67,430 tons), and Thailand (67,240 tons). Sales to Vietnam saw a substantial increase of 55% year-over-year, while Russia imported 11% less PVC from China compared to January-September 2023.

Q3 sales to India show diverging trend

On the other hand, China’s PVC exports to India in the third quarter of 2024 fell by 9% compared to the same quarter last year, totaling 330,330 tons and representing a 50.1% market share. Despite the decline, India continued to lead as China’s top PVC buyer, far ahead of Vietnam, the second-largest importer, which accounted for 7% of exports at 45,980 tons.

Following India and Vietnam, top importers in Q3 included Russia (30,970 tons), Uzbekistan (25,230 tons), and Kazakhstan (24,100 tons).

Imports hit record low

In the meantime, China’s total PVC imports dropped by 29% in the first nine months of 2024 compared to the same period last year, totaling slightly above 250,000 tons—a historic low.

The US maintained its position as China’s largest PVC supplier in this period, exporting 84,000 tons, followed by Taiwan with 72,000 tons. Other leading suppliers included Japan, Germany, and Thailand.