the PET bottle chip industry has also witnessed the shutdown, conversion, or elimination of some older facilities

While capacity is expanding rapidly, the PET bottle chip industry has also witnessed the shutdown, conversion, or elimination of some older facilities. According to CCFGroup statistics, facilities that have been permanently shut down (for more than three months) in 2023-2024 include 250,000 tons from Pan-Asia, 150,000 tons from Baosheng, 800,000 tons from Sanfame, 300,000 tons from Anyang Chemical, 600,000 tons from China Resources Jiangyin, 350,000 tons from Billion, and 300,000 tons from Haoyuan. Facilities that frequently switch between producing PET fiber chip and PET bottle chip include 250,000 tons from Wankai and 150,000/250,000 tons from Sinopec Yizheng, with Liaoyang Petrochemical 100,000 tons having switched to producing film grade PET chip earlier stage. When combined, these total approximately 3.25-3.35 million tons, accounting for about 16-17% of the current total capacity. Thus, while some major PET bottle chip manufacturers are operating at high capacity, many bottle chip facilities remain dormant and are forced to shut down, accelerating the industry's process of elimination.