China PVC Flooring Product Export Volume Dipped in Q1, 2023
Preface: Since August 2022, the export volume of PVC flooring products in China has dropped significantly Y-O-Y. The growth rate of PVC flooring product export volume for the whole year of 2022 turned negative for the first time. In 2023, the situation has not improved significantly. PVC flooring products enterprises hold operating rates relatively low amid notably declined export orders. It is expected that the export of PVC flooring products will not improve markedly in the short term, and the export volume of PVC flooring products in H1, 2023 may decline significantly compared with 2022.
China PVC Floor Covering Export Volume Dipped in Q1.
According to GACC, from January to March 2023, the export volume of China’s PVC flooring products was 942.2kt, down 400.7kt or 29.84% Y-O-Y. Affected by the Spring Festival holiday, the export volume reached its lowest point from 2021.
According to the research made by SCI, it takes 0.3-0.4mt of PVC powder to produce 1mt of PVC flooring products. Most PVC flooring products are produced for export. According to the analysis of the export volume of PVC flooring products, the consumption of PVC powder by PVC flooring products enterprises was roughly in the range of 290-380kt in Q1, 2023, down around 150kt Y-O-Y.
The U.S. is still the largest trading partner for the export of PVC flooring products in China.
In Q1, 2023, China’s PVC flooring products exported to the U.S. amounted to 414.1kt, accounting for 43.95% of the total exports. At present, The U.S. is still the largest trading partner for the export of PVC flooring products in China. On the whole, China’s PVC flooring products are still mainly exported to North America and European countries.
Export volume can hardly improve markedly in the short term amid underperformed orders.
As China’s PVC flooring products are mainly exported to European and American countries, the macroeconomic and real estate industry status in European and American countries will directly affect the export volume of China’s PVC flooring products.
Since H2, 2022, the overall foreign macroeconomic environment has been lukewarm, and the real estate market in Europe and America was weak, dragging down the demand for PVC flooring products. On the whole, it is difficult for European and American countries to significantly increase the demand for PVC flooring products in the short term. Entering 2023, a couple of PVC flooring enterprises held operating rates low for a long time amid underperformed orders. In addition, some enterprises moved their plants to Southeast Asia gradually, which divided some of China’s domestic export orders.
On the whole, the export of PVC flooring products in 2023 will face more challenges compared with the previous period. It is expected that the export volume of PVC flooring products in the first half of 2023 may decline significantly compared with the same period in 2022.
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