China's PTA Exports Peak in 2024, Slide in 2025 as Turkey Demand Falls

From 2021 to 2024, China's purified terephthalic acid (PTA) exports recorded an overall upward trend, driven primarily by the continuous commissioning of new domestic production facilities that significantly increased supply. As output expanded, Chinese producers actively sought overseas markets to capture new growth opportunities. In parallel with the national 'bringing in' and 'going out' strategy, exports to neighbouring Asian and surrounding markets — including Egypt, Vietnam, Turkey and Oman — rose steadily, lifting overall export volumes.

As surplus supply gradually became an industry-wide consensus, China's PTA exports increased in step with new capacity additions. Export activity intensified from 2021, with volumes posting strong growth, although the pace moderated during 2022–2023. In 2024, exports rebounded more sharply, supported by policy momentum and rising shipments to nearby Asian markets such as Egypt, Vietnam, Turkey and Oman. This trend reversed in 2025, when China's PTA exports declined year on year, largely due to a sharp contraction in shipments to Turkey, which had been the country's largest export destination in the previous year.

In 2025, China's PTA exports were mainly destined for neighbouring Asian and surrounding markets, including Vietnam, Egypt, Oman, India and Russia. Vietnam rose from second place to become China's largest PTA export destination, accounting for approximately 589,000 tonnes, or 15.43% of total exports. Egypt ranked second with 493,200 tonnes (12.92%), followed by Oman at 455,400 tonnes (11.93%). Turkey, which had been the top destination in 2024, saw its imports from China fall sharply after SaSa commissioned a new PTA facility in early March. As a result, Turkey's imports dropped to 315,300 tonnes, pushing it down to sixth place in the rankings and reducing its share to 8.26%.

By trade mode, China's PTA exports in 2025 were dominated by general trade and processing trade. General trade accounted for approximately 74.40% of total exports, while processing trade represented around 25.59%. Volumes shipped via customs special supervision zones and logistics trade remained minimal.

Entering 2025, China's domestic PTA capacity continued to expand, with 8.7 million tonnes of new capacity coming on stream during the year. The industry maintained its long-standing pattern of high exports and low imports. According to Jinlianchuang data, China's cumulative PTA exports in 2025 totalled 3.8171 million tonnes, down 601,000 tonnes from the previous year. The decline was driven mainly by a reduction of more than 480,000 tonnes in exports to Turkey. The start-up of SaSa's new PTA plant significantly reduced Turkey's reliance on Chinese supply, and although a domestic supply gap remains, it has narrowed markedly.

India continued to be a major PTA consumer. On 12 November, India announced the immediate removal of BIS certification requirements for PTA products, reopening the market to Chinese suppliers and triggering a notable increase in India's purchases of Chinese PTA. Over the year, China's monthly PTA export volumes fluctuated widely between 250,000 and 400,000 tonnes, reflecting changes in inventory levels and procurement cycles in key markets such as Turkey and India.

Looking ahead, the commissioning of SaSa's PTA facility in Turkey is expected to further narrow the country's supply gap, with exports to Turkey in 2026 projected to decline compared with the same period in 2025. India is likely to remain the largest PTA consumer in the near term, as its domestic supply still falls short, requiring monthly imports of around 150,000–180,000 tonnes. The lifting of BIS certification requirements in November 2025 is expected to provide short-term support to China's PTA exports.

However, multiple PTA capacity additions are scheduled in India. GAIL plans to start up a 1.25 million tonne per annum PTA plant, while Indian Oil Corporation is preparing to commission a 1.2 million tonne per annum facility. Larger projects are also under development, with Sincerity Industries targeting the launch of a 3 million tonne per annum PTA plant around 2027. These additions are expected to gradually narrow India's supply deficit.

Despite rising capacity, downstream polyester demand remains persistently weak. Although Turkey has no new PTA projects planned in the near term, its supply gap is expected to narrow as existing facilities reach stable operations. With limited demand growth in major export markets and additional PTA capacity coming on stream domestically, export pressure is set to persist. As a result, China's PTA export volumes in 2026 are expected to face further downside compared with 2025.