In the first half of 2026, acetone import volume declined by 8.46% year-on-year.

Lead: In the first half of 2026, China's acetone imports totaled 199,800 mt, down 8.43% year on year. During the period, imports peaked at 57,500 mt in February and hit a low of 17,000 mt in June. In the second half of 2026, China is expected to add 150,000 mt/year of new acetone capacity. With domestic supply anticipated to increase and the self-sufficiency rate continuously rising, import volumes will be implicitly suppressed.

Table: Comparison of acetone imports in Jan-Jun 2026 (Unit: 10,000 mt)

Source: Chempricehub

China's acetone imports totaled 199,800 mt in the first half of 2026. Compared with the same period in 2025, the source-country mix saw some shifts, with Thailand, Saudi Arabia, and South Korea ranking as the top three trading partners.

Following the outbreak of the US-Iran war, some traditional feedstock supply routes were disrupted, prompting importers to actively adjust their sourcing strategies in 2026. Thailand's stable supply became the preferred choice for domestic importers. Acetone imports relied primarily on contracts with Thailand and Saudi Arabia, with scheduled port arrivals providing supplementary supply. However, the closure of the Strait of Hormuz due to the Middle East conflict hindered shipments from Saudi Arabia, inevitably affecting arrival volumes. Approximately 3,000 mt was imported from Singapore in January–June. In Taiwan (China), a 485,000 mt/year phenol/acetone unit was shut down in January, and imports from the region fell 46.71% year on year over the first six months. Overall, acetone imports in January–June declined 8.43% year on year.

The year-on-year decline in imports was mainly attributed to the strong rebound of China's domestic acetone market from a five-year price trough in Q1 2026, which drove a substantial increase in imports during January–February. In January 2026, acetone imports reached 40,000 mt, up 7.53% month on month. In February, imports surged to approximately 57,500 mt, soaring 43.75% month on month and 103.9% year on year, hitting a peak. This import surge was the combined result of multiple factors, including the domestic supply-demand mismatch, signals of price recovery, and the concentrated arrival of international cargoes. From March onward, however, the Middle East conflict prevented Saudi Arabian cargoes from arriving normally, while plants in South Korea and Thailand were forced to cut operating rates due to feedstock shortages. Imports subsequently trended downward in Q2. Overall, acetone imports in the first half of 2026 registered a year-on-year decline.

According to customs statistics, China's acetone imports in the first half of 2026 came mainly from Thailand, Saudi Arabia, South Korea, Taiwan (China), and Singapore, with limited volumes from other countries and regions. Thai supplies arrived normally, mainly under contract arrangements, ranking first with a share of 43.09%. Due to the outbreak of the US-Iran war in late February, Middle Eastern shipments were constrained, and the normal arrival cycle for Saudi Arabian cargoes was extended, impacting first-half imports; Saudi Arabia slipped to second place with a 33.19% share. Affected by the Middle East conflict, international crude oil transportation was restricted, which impacted the feedstock side. South Korean plants lowered operating rates, and imports from South Korea accounted for 20.64%. Taiwan (China) and Singapore served as supplementary sources.

According to customs data, imports in January–June 2026 were conducted mainly under general trade, with an import volume of 190,600 mt, accounting for 95.39% of the total. This was followed by processing trade with imported materials, accounting for 4.61%.

In the second half of 2026, China's new acetone capacity is expected to reach 150,000 mt/year. With domestic supply increasing further and the self-sufficiency rate rising, imported volumes will be squeezed, and imports are expected to trend downward in the second half.

Acetone imports in the second half of 2026 are expected to shrink, driven by the combined impact of three factors: geopolitical conflict, increased domestic supply, and a policy window period. First, the Middle East geopolitical conflict has directly affected major import sources. Since March, the situation in the region has continued to escalate, with passage through the Strait of Hormuz impeded and Saudi Arabian cargoes unable to arrive normally, causing imports in March–April to plunge around 30% year on year. Although the trajectory of the situation in the second half remains uncertain, there is considerable unpredictability regarding the pace of recovery of Middle Eastern supplies. Second, the continued expansion of domestic capacity is squeezing import space. In recent years, large-scale refining-petrochemical integration units in China have been commissioned successively, steadily raising the acetone self-sufficiency rate, while import dependence has been declining year by year. In the second half of 2026, the new phenol/acetone unit at Fujian Zhongsha is scheduled to come on stream, resulting in ample domestic supply. Importers are becoming more rational in handling general trade contracts and are shifting toward reducing long-term import agreements to mitigate risks.