China's PX import appetite set to rise through 2026 despite upcoming expansions

China's unsatiable appetite for imports of paraxylene are unlikely to slow down through 2026 despite planned domestic expansions as well as a halt in its rapid expansion of downstream purified terephthalic acid production, market sources told S&P Global Energy.

On an annual basis, China's PX imports grew 2.41% at 9.61 million mt in 2025 compared to 9.38 million mt in 2024, the latest data from China Customs Statistics showed.

Despite a steady increase in domestic PX production capacity over the past few years, the country's demand for PX sourced beyond its shores has shown little sign of slowing, market sources said.

"Because PTA expansion continued in 2025, but no PX new capacity came online," one shipbroker in Singapore said, referring to the higher imports in 2025.

China currently has a PX capacity of roughly 45 million-50 million mt and a PTA capacity of 87 million-88 million mt, data compiled by Platts, part of S&P Global Energy, showed. In 2023, China grew its domestic PX capacity by around 5.7 million mt, though there were no further additions in 2024 and 2025, according to Platts data.

In 2023, approximately 10.5 million mt/year of PTA capacity started operations in China, followed by about 9.7 million mt/year in 2024. By the end of 2025, China added another 8.6 million mt/year to its existing domestic capacities, according S&P Global Energy CERA.

Two Chinese traders said China will add around 5 million-7 million mt of PX capacity in late 2026 and early 2027. However, a firm timeline for the startup of production remains unclear for now, the same traders said.

Import volumes firm for now

Chinese buying appetite of PX was expected to slow down since 2023 as domestic production grew, but that hasn't happened so far, a third Chinese trader said.

"If the PTA devices [in China] operate normally [and if] there will be fewer incidents [of shutdowns of PTA plants]," the first Chinese trader said.

Despite expectations of new Chinese PX plants set to come online, some sources remain doubtful if that will eat into the share of exports immediately.

"There [may be] new [PX] production [coming online in China], but the amount of damage incurred during maintenance [for existing plants] has also been significant," the first trader said.

Several existing plants have faced shutdowns due to maintenance issues, which have hurt production and availability of PX, the trader explained.

In order to ensure stable supplies, PX producers need to operate smoothly, but that can be a challenge due to maintenance trouble or other unexpected issues, the source added.

South Korea remains the largest supplier of PX to China with volumes only growing year over year despite an increase in domestic production, South Korean customs data showed.

In 2025, South Korea exported 4.31 million mt of PX to China, up around 11% over 2024 when it exported 3.89 million mt, the customs data showed. Volumes exported in 2023 were also around 3.89 million mt, the same data showed.

However, over time, the infusion of fresh PX capacities in China will likely make a dent in existing exporters, especially those in the neighborhood such as South Korea, Taiwan, Japan and some Southeast Asian producers, market sources said.

"They [will] squeeze the share of [South] Korean and Japanese exports," the second Chinese trader said.

PX exporters in Asia will remain cautious about China's upcoming expansion and how the new capacities eat into the share of Chinese imports, the shipbroker in Singapore said.

"[New Chinese expansions do] not bode well for PX imports. Again, the intra Far-East Asia market will be hit the hardest," the source said.

Platts, part of S&P Global Energy, assessed Asia PX up $9/mt day over day at $888/mt CFR Taiwan/China Jan. 20.