Stats: India’s SPVC imports continue to lose momentum after April peak, H1 remains virtually flat

India’s suspension PVC (SPVC) imports lost further ground in June, falling 22% from May and 15% from a year earlier, according to ChemOrbis Stats Wizard data. The latest decline marked the second consecutive monthly drop after imports reached their highest level since March 2023 in April, pointing to a notable loss of momentum in India’s import demand after a strong start to the second quarter.

Despite the decline in import volumes, India’s spending on SPVC imports remained elevated. The country’s June import bill stood at around $185 million, down 17% month over month but still 5% above June 2025. The divergence between import volumes and dollar value reflects the significantly higher price levels seen in the PVC market this year amid war-related supply disruptions and elevated global pricing.

Imports retreat after April peak

India’s SPVC imports had climbed to their highest level since March 2023 in April before reversing direction in May and falling further in June.

The back-to-back declines suggest that the strong import momentum seen earlier in the year has started to fade. June imports were down both on a monthly and annual basis, with the 22% month-on-month decline marking the sharper of the two decreases.

The slowdown comes despite India remaining the largest import market for PVC, with buying activity having been supported earlier in the year by supply concerns and firm global PVC prices.

Higher prices keep import bill elevated

The decline in import volumes was not mirrored in the value of imports. India paid approximately $185 million for SPVC imports in June, representing a 17% decrease from May but a 5% increase from the same month last year.

This indicates that the average value of imported PVC remained considerably higher than a year earlier. War-related disruptions and rising feedstock costs have contributed to higher PVC prices in 2026, meaning that Indian buyers have been spending more even as the amount of material imported has fallen.

H1 imports essentially unchanged

Despite the sharp monthly fluctuations seen during the second quarter, India’s SPVC imports in the first half of 2026 totaled slightly above 1.6 million tons, according to ChemOrbis Stats Wizard.

The H1 figure was only 0.8% higher than the corresponding period of 2025, effectively leaving imports unchanged year on year. The negligible increase suggests that the strong import performance earlier in the year was largely offset by the declines recorded in May and June.

Meanwhile, the value of imports rose to $1.15 billion in the first half of the year from $1.12 billion a year earlier.

With imports losing momentum after April’s multi-year high, the second half of the year will be closely watched to see whether India’s PVC demand can regain strength or whether buyers will continue to adopt a more cautious approach amid elevated prices.

China remains the dominant supplier

China maintained its position as India’s leading SPVC supplier during H1 2026, accounting for 55% of total imports.

Japan followed with a 12% share, while Taiwan supplied 7%. South Korea and Thailand each accounted for 6% of India’s SPVC imports during the first half of the year.