China SBS Exports to Hit New High in 2025
Introduction: From Q1 to Q3 2025, China’s SBS exports grew rapidly. From January to September, China’s total SBS exports were 93kt, up 19.46% YoY. With the export environment improving and China’s SBS market competition intensifying, SBS exports may continue to expand and hit a record high in 2025.
In the first three quarters of 2025, China’s SBS exports maintained rapid growth. From January to September, China exported 93kt of SBS, up 19.46% YoY. In recent years, China’s SBS capacity has expanded annually, but the growth in China’s demand has been limited, highlighting the supply-demand imbalance and prompting SBS producers to seek export orders to alleviate overcapacity. In 2025, China’s SBS market competition intensified, leading to a gradual decline in China’s SBS prices. The price gap between China and overseas markets widened, encouraging more enterprises to pursue export arbitrage.
In 2025, China’s major SBS export trade partners were mainly the same as those in 2024, but the export shares of various trade partners changed somewhat. From January to September 2025, India was the largest destination of China’s SBS exports, with an export volume of 12.1kt, down 5.22% YoY, which accounted for 11.53% of total exports. China’s SBS exports to Vietnam were 11.7kt, up 2.69% YoY, which accounted for 11.18% of total exports. The exports to Italy were 8.4kt, up 1.31% YoY, which accounted for 8.98% of total exports. Due to frequent changes in the global economic situation in 2025, global trade flows experienced partial shifts - exports to Southeast Asia slightly declined but still maintained a relatively large share, while exports to some European countries saw a notable increase.
From January to September 2025, China’s monthly SBS export volumes were all higher YoY, hovering between 8kt and 12kt. From January to March, China’s monthly export volumes grew significantly. During this period, China’s major SBS producers consumed the SBS output by exports, as China’s market was in the traditional slack season. In Q2, the demand gradually recovered, leading to a slight fall in SBS exports, but the monthly export volumes of most months were still higher than 10kt. In Q4, the monthly export volume will likely rebound again, with China’s domestic consumption falling. Overall, the pattern of changes in China’s SBS monthly export volumes in 2025 is mainly influenced by the seasonal characteristics of China’s downstream consumption and the supply situation.
With the export environment improving and China’s SBS market competition intensifying, China’s SBS exports are likely to continue the uptrend in Q4 and hit a record high within the year. In 2025, China’s total SBS exports are predicted to be around 125kt, up 26.26%. The export uptrend will likely ease China’s SBS oversupply to some extent.
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