Operating rate the annual operating rate was at an all-time high for most of the year

In terms of operating rate, most PET bottle chip producers operated at high rates in the first half of 2022. Although factories issued production reduction plans gradually due to rising costs and weaker demand in the second half of the year, the overall operating rate remained at a high level, and sometimes factories operated at above 100%.

PET bottle chip running rate averaged at 97.5% in 2022 based on effectively released designed capacity of 11.82 million tons, and the overall fluctuation was mainly affected by seasonal factors and changes in epidemic control policy.