Introduction: The market price of PVC Paste Resin in the first quarter was slightly higher than the same period last year, but the overall market demand was not as strong as last year, and the price trend was completely different. In the first quarter of 2024, the price of PVC paste Resin first rose and then fell, but in the first quarter of 2023, the overall price tended to stabilize. Let me explore the gap between the PVC paste resin market and previous years from the perspective of import and export.
1、 Price advantage, with a significant increase in import quantity in the first quarter
From a data perspective, the total import volume in the first quarter of 2023 was 13247 tons, with an average import price of 1300 US dollars per ton. In the first quarter of 2024, the total import volume was 24267 tons, with an average import price of 1176 US dollars per ton, an increase of 11020 tons, a significant increase of 83%. PVC gloves are disposable protective gloves made mainly from PVC paste resin, which are widely used in various industries such as medical, food, and electronics. With the gradual stabilization of the global epidemic and the recovery of various industries, the demand for PVC gloves continues to increase, which in turn drives the growth of demand for PVC paste resin. In the first quarter of 2024, PVC glove orders were good, and there was a high demand for PVC paste resin from abroad. Due to the recovery of domestic and foreign markets and the increase in order volume, the production capacity utilization rate of PVC glove production enterprises has been improved, and the procurement volume of PVC paste resin has correspondingly increased. In addition, due to the continuous increase in the export volume of PVC gloves, this has further driven the demand for PVC paste resin in foreign markets.
It can be seen from the above table that the main import sources of PVC paste resin are Taiwan, China, Thailand, South Korea, Malaysia and Germany. The glove materials are mainly imported from Taiwan, China, South Korea and Malaysia. The PVC paste resin glove materials imported from Taiwan, China may benefit from its advanced production process and technology to ensure the quality and performance of gloves. As another major supplier, South Korea also enjoys a high reputation in the industry for its PVC paste resin glove material. Malaysia, on the other hand, relies on its abundant raw material resources and mature industrial chain to provide stable supply for the PVC glove industry.
2、 The situation is stable, and there is not much change in export volume in the first quarter
From a data perspective, the total export volume of PVC paste resin in the first quarter of 2023 was 36113 tons, with an average import price of 1123 US dollars per ton. In the first quarter of 2024, the total import volume of PVC paste resin was 32382 tons, with an average import price of 1088 US dollars per ton, a decrease of 3731 tons or 10.33%. From the perspective of exports, the export volume of PVC paste resin powder in the first quarter of this year may have changed compared to previous years. On the one hand, the uncertainty and complexity of the international trade environment may have a certain impact on the export of PVC paste resin. Tariff barriers, trade frictions, exchange rate fluctuations, and other factors may have adverse effects on export prices and quantities. On the other hand, the high domestic price of PVC paste resin in 2024 has weakened the export price advantage and reduced export competitiveness. The change in export volume may further affect the supply-demand balance in the domestic market, thereby affecting price trends.
From the above table, it can be seen that the main export countries and regions for PVC paste resin are Russia, followed by India in second place, Pakistan in third place, and then Vietnam and South Korea. There is a strong demand for PVC paste resin in these regions, mainly used in various fields such as artificial leather, floor leather, impregnated gloves, and automotive interiors. Russia, as a major export destination, has a high demand for PVC paste resin in its construction, automotive and other industries. India is an important market for PVC paste resin in the pipe, film, and wire and cable industries. Countries and regions such as Pakistan, Vietnam, and South Korea also have stable demand for PVC paste resin to varying degrees.
3、 Strengthen technological innovation and brand building to increase future exports
In summary, in the first quarter, there was a large amount of imported PVC paste resin in China, but the export quantity did not change much. In the first quarter, there were relatively few domestic PVC paste resin maintenance enterprises, and the apparent consumption was still at a high level, which increased the sales pressure on the domestic market in the future. In the first quarter of 2024, the number of imported PVC paste resins from China, as well as the number of countries or regions, have significantly increased compared to the same period last year. This also reflects to some extent that in the context of oversupply of PVC paste resins in China in the first quarter, there is still a certain demand for high-end PVC paste resins in foreign markets. With the recovery of the global economy and the development of emerging markets, the export market of PVC paste resin is expected to further expand. Domestic enterprises should seize opportunities, strengthen technological innovation and brand building, enhance product added value and competitiveness, in order to occupy a more favorable position in fierce international competition.
