Import and export of PIY in 2020

Exports of PIY amounted to 430.6kt in 2020, down by 2.9% on the year affected by the outbreak of COVID-19, and those to Europe and US dipped the most apparently. Imports of PIY totaled 18.3kt in 2020, slightly up y-o-y.

PIY exports headed south in 2020 on the outbreak of COVID-19. US remained major export destination but occupied less proportion, down to 14% from 15% in 2019, followed by South Korea, with proportion up to 9% from 7% in 2019. Market share of Germany and Turkey changed little. Exports to Russia climbed up. Export destinations of PIY were mainly developed nations like Europe and US, and downstream demand for PIY was mainly from fields such as vehicle and infrastructure, but exports to developing countries such as India and Brazil was not small too.

According to the calculation of PFY capacity, POY occupied the biggest proportion at above 60% in 2020, followed by FDY accounting for above 30%. Compared with 2019, the proportion of POY increased by 0.6% in 2020, that of FDY dipped by 1.4%, that of PIY rose by 0.8% and that of others held flat.

New PIY capacity was estimated at 0.45 million tons/year in 2020, mainly from Jiangsu Hengli and Fujian Billion. Total new PIY capacity was expected to approach 0.45 million tons/year in 2020, bringing the total capacity to 2.663 million tons/year by the end of 2020. New capacity of PIY is scant in 2021, mainly some small line of chip-spun units. Under excessive supply, small enterprises that witnessed high stocks and low efficiency will successively exit the market. Whether export will recover in expectation of rising demand after COVID-19 eased still arouses much concern.