China polyester shift, non-fiber up, filaments down

Polyester product exports from China saw significant growth in the first half of 2024, with a notable shift from fiber to non-fiber products, according to customs data. In June 2024, polyester exports reached 1.114 million tons, a 246,000-ton increase year-on-year. Filament exports declined, but bottle-grade PET performed strongly.

From January to June 2024, exports totalled 6.138 million tons, up by 605,000 tons year-on-year. While overall growth was similar to the previous year, non-fiber products like PET fiber chips, bottle-grade chips, and Bopet showed substantial increases. Filament exports, particularly to India, declined due to high ocean freight rates and rising prices in May and June.

Bottle-grade PET exports surged, driven by demand from Vietnam, Nigeria, and Indonesia. Despite challenges like anti-dumping measures, China's bottle-grade PET remains competitive globally. Bopet exports also grew due to increased domestic production capacity.

Overall, the shift from fiber to non-fiber exports has helped alleviate capacity pressure in China's polyester industry, which remains highly competitive on the global stage.