BLOG: China HDPE: Final review of 2021 and a further outlook for this year
SINGAPORE (ICIS)–Click here to see the latest blog post on Asian Chemical Connections by John Richardson.
China’s high-density polyethylene (HDPE) demand declined by 6% last year, according to the blog’s estimate. This would be the first decline in growth since 2000.
Imports were also down by 27% at 6.6m tonnes as local capacity increased.
The post gives a breakdown for the impact of this decline on China’s top ten HDPE trading partners in 2021. The exporters of HDPE who saw the biggest percentage declines in 2021 versus 2020 were India, the US, the Russian Federation, Kuwait and Saudi Arabia.
Further analysis shows which exporters are most exposed to China with more local capacity set to be added in 2022 – and with China’s Common Prosperity pivot and Zero COVID approach likely to keep growth depressed.
Editor’s note: This blog post is an opinion piece. The views expressed are those of the author, and do not necessarily represent those of ICIS.