Starting with the Chinese PTA market, Mr. Xu noted that China, with 92.8 million tons of PTA capacity, accounts for 74% of global capacity and will continue to serve as an important benchmark for the global polyester industry.

He analyzed supply and demand in the EU bottle chip market, noting that the EU needs to import a substantial volume of bottle chips each year. In 2026, China is expected to account for 53% of global bottle chip capacity and 50% of global bottle chip exports.

Mr. Xu also provided an in-depth analysis of the EU recycled bottle chip market. In 2025, all EU member states implemented deposit return systems, pushing the PET bottle collection rate above 70%. However, demand for recycled bottle chips has fallen well short of expectations, with the price premium of recycled bottle chips over virgin bottle chips averaging around EUR 500/mt.