The operating rate sharply declined, apparently lower than the same period of past years

In 2022, the operating rate of polyester plants was high at first but declined later. In the first quarter, the polyester polymerization rate gradually increased when the crude oil and petrochemical cost was expected to ascend, hitting yearly high at 95% in mid-March. However, with weaker external environment and the spread of pandemic in some regions of China, coupled with deteriorating end-user demand, the polyester companies encountered the pressure from cost and profit, with run rate rapidly down to 80% in the second half of April, The polyester polymerization rate sustained at 75-85% for long in the second half of 2022, with yearly average at around 84% in 2022, down by 6 percentage points on the year.