How balanced is China's n-butyl acetate supply-demand landscape and what capacity changes are expected?

China's n-butyl acetate capacity stands at 1.18 million tons per year, with a normal operating rate around 60%. After Yankuang converted its 200,000-ton butyl acetate line to ethyl acetate, the market moved closer to balance. The only new addition, Zhuhai Qianxin's 150,000-ton unit planned for 2021, was offset by the closure of its Jiangmen facility due to environmental regulations, leaving net supply unchanged. Industry concentration is high, with eight producers and Qianxin as the domestic leader. Demand recovered to normal levels in the second half of 2021 despite pandemic impacts, while exports have grown strongly, from 77,400 tons in 2019 to 233,700 tons in 2025.