Main Ingredients Composing Synthetic Fiber: Imports Could Decrease and Exports Grow Stably - China Reports

By Yan Feng

Nylon, acrylic fiber, polyester and vinylon are the most common products of synthetic fiber. The synthetic fiber is made up of ethylene glycol, caprolactam, pure terephthalic acid (PTA) and acrylonitrile. In recent years, increasing production capability and output have caused certain changes in the imports and exports of principal ingredients composing synthetic fiber in China.

Import and export analysis of ethylene glycol

1. Import

Between 2017 and 2021, China’s ethylene glycol imports surged for years initially, and then decreased. In 2017, the imports were 8 687 700 tons, expanding to a high of 10 548 000 tons in 2020 and decreasing to a low of 8 426 400 tons in 2021. Moreover, from 2017 to 2021, the import unit price of ethylene glycol in China increased first, decreased afterwards, and then increased again. In 2021, the import unit price was US$671.79/ton, a 44.58% increase over the minimum value in 2020. Figure 1 shows the imports and exports of ethylene glycol in China from 2017 to 2021.

Figure 1 The imports and exports of ethylene glycol in China from 2017 to 2021

In 2021, China imported ethylene glycol from Iran, Saudi Arabia, Singapore, Taiwan of China, Canada, and the United States, shrinking 15.39% from a year earlier to total imports of 7 455 200 tons, which account for 88.47% of overall imports.

In 2021, the primary types of ethylene glycol import in China were general trade and entry and exit cargos in the bonded and supervision areas, with imports shrinking 21.97% year-on-year to 6 991 100 tons, accounting for 82.97% of total imports. And general trade imports decreased by 21.41% from a year earlier to 5 580 000 tons, holding 66.22% of total imports. While the latter imported 1 411 100 tons, accounting for 16.75% of overall imports, a 24.11% decline on the previous year.

2. Export

The exports of ethylene glycol in China varied between 2017 and 2021. The exports in 2017 were 18 100 tons, decreasing to a low of 4 500 tons in 2018. While in 2021, the exports gained 103.29% year-on-year to a high of 123 600 tons. In 2017, the export unit price was US$1 237.19/ton, reaching a maximum of US$2 871.81/ton in 2018. The export unit price in 2021 was US$650.26/ton, a 22.49% growth over the minimum in 2020.

In 2021, China exported ethylene glycol to India, Turkey, Belgium, Dutch and Russia, with exports expanding by 173.28% from a year earlier to 107 400 tons, accounting for 86.89% of total exports.

In 2021, the primary export trade modes of ethylene glycol in China were logistics in the areas under special customs supervision and import and export goods in the bonded and supervision areas, with exports rising 84.23% year-on-year to 99 300 tons, accounting for 80.34% in total exports.

Import and export analysis of PTA

1. Import

China’s PTA imports increased yearly first, and decreased for years from 2017 to 2021, of which in 2017 the imports were 526 300 tons, reaching a maximum of 954 800 tons in 2019. However, the imports in 2021 slumped by 87.58% year-on-year to 76 500 tons. From 2017 to 2021, the import unit price of PTA in China varied substantially, with US$650.93 in 2017, a maximum of US$855.60/ton in 2018, US$650.43/ton in 2021, rising 41.58% over the minimum in 2020. Figure 2 shows the imports of PTA in China from 2017 to 2021.

Figure 2 The imports of PTA in China from 2017 to 2021

In 2021, China imported PTA from Japan, Thailand and Taiwan of China, with total imports falling 83.56% year-on-year to 75 800 tons, accounting for 99.08% of overall imports. In 2021, PTA import trade channels in China were mainly general trade, with imports falling 86.55% year-on-year to 75 300 tons, holding 98.43% of total imports.

2. Export

From 2017 to 2021, the PTA exports in China increased first, decreased afterwards, and then increased yearly again. Over the same period, the export unit price of PTA in China dramatically changed, with US$637.71/ton in 2017, reaching a maximum of US$850.28/ton in 2018, US$650.23/ton in 2021, up 39.43% year-on-year.

In 2021, China exported PTA to India, Oman, Saudi Arabia, Turkey, and Russia, with total exports increasing 185.54% year-on-year to 1 783 500 tons, accounting for 69.28% in overall exports. In the same year, PTA export trade modes in China were mainly general trade and processing with imported materials, with total exports growing 203.89% year-on-year to 2 573 300 tons, holding 99.96% of overall exports,

Import and export analysis of caprolactam

1. Import

From 2017 to 2021, the imports of caprolactam in China declined first, and then increased by years, followed by a decrease. In 2017 the imports were 237 400 tons, developing to a minimum of 105 800 tons in 2021. Meanwhile, the import unit price of caprolactam in China grew initially but fell subsequently, followed by a growth, with US$1 809.32/ton in 2017, reaching a maximum value of US$2 013.33/ton in 2018. While in 2021, it increased 53.20% to US$1 648.45/ton over the minimum in 2020.

In 2021, China imported caprolactam from Japan, Belgium, the Netherlands, and Russia, with imports dropping 54.32% year-on-year to 95 700 tons, accounting for 90.45% of total imports. In the same year, the import trade modes of caprolactam in China were dominantly processing with imported materials and logistics in the areas under special customs supervision, with imports reducing 38.09% from a year earlier to 104 500 tons occupying 98.77% of total imports.

2. Export

From 2017 to 2021, the caprolactam exports in China declined in the beginning, and increased yearly afterwards. And the exports in 2017 were 3 464.02 tons, decreasing to a low of 110.14 tons in 2018, surging 583.24% from a year earlier to a high of 3 611.15 tons in 2021. Over the same period, the export unit price of caprolactam in China has varied substantially, with US$2 084.51/ton in 2021, up 40.88% over the minimum in 2020.

In 2021, China mostly exported caprolactam to Indonesia, South Korea, and Taiwan of China, with total exports increasing 901.04% to 3 339.40 tons, accounting for 99.94% of overall exports.

Import and export analysis of acrylonitrile

1. Import

From 2017 to 2021, the imports of acrylonitrile in China grew first, and fell yearly afterwards. The imports in 2017 were 270 800 tons, hitting a maximum of 370 000 tons in 2018 and a minimum of 203 800 tons in 2021, a 33.53% decline from a year earlier. Over the same period, the import unit price of acrylonitrile rose, and then dropped, and surged again, with US$1 478.15/ton in 2017, increasing 88.13% from a year earlier to a maximum of US$2 028.79/ton in 2021.

In 2021, China imported 194 200 tons of acrylonitrile from Japan, South Korea, Taiwan of China, and the United States, holding 95.29% of total imports, falling 35.29% year-on-year. In 2021, the import trade mode of acrylonitrile in China is just general trade, with imports decreasing 33.53% year-on-year to 203 800 tons, occupying all imports.

2. Export

From 2017 to 2021, the acrylonitrile exports in China fell first, and increased yearly afterwards, with exports of 9 700 tons in 2017, reducing to a low of 4 900 tons in 2018, and surging 188.74% from a year earlier to a high of 210 200 tons in 2021. Meanwhile, the export unit price of acrylonitrile in China grew in the beginning, fell afterwards, but finally increased again.

In 2021, China exported acrylonitrile to India and South Korea with total exports of 195 600 tons, accounting for 93.05% of overall exports, a year-on-year increase of 179.43%. In 2021, China exported all acrylonitrile by general trade, with exports increasing 188.74% year-on-year to 210 200 tons, accounting for all exports.

Summary

Based on the above analysis, from 2017 to 2021, the imports of the main ingredients composing synthetic fiber in China grew first and then slumped. In 2017, the imports were 9 722 200 tons, developing to a minimum of 8 812 500 tons in 2021, falling 24.93% over the maximum in 2020. The primary import variety is ethylene glycol, the imports of which accounted for 89.36% of total imports in 2017, and 95.62% in 2021. The imports are mostly from Iran, Saudi Arabia, Singapore, Taiwan of China, the United States and Japan by general trade and logistics in the areas under special customs supervision.

From 2017 to 2021, the exports of the main ingredients composing synthetic fiber in China rose first, dropped afterwards, and then increased yearly, with a minimum of 554 500 tons in 2017 and a maximum of 291 800 tons in 2021, increasing 196.85% year-on-year. PTA occupied the most in exports, accounting for 94.36% of total exports in 2017, and 88.41% in 2021. The synthetic fiber products were mostly exported to countries and districts including India, Oman, Saudi Arabia, South Korea, Taiwan of China, Turkey and Russia by general trade and processing with imported materials.

In China, in the next few years, there will be new-built or expansion plants to launch the main ingredients of synthetic fiber. By the time, the production capability will further increase. With technology and quality improvement, and production cost reduction, it is expected that the imports of the main ingredients of synthetic fiber will further decrease, while the exports will develop conversely.