Lead: On May 7, 2026, the Indian Ministry of Commerce and Industry issued a notice announcing the final findings of the first sunset review of anti-dumping duties on phthalic anhydride originating in or imported from China and South Korea. It recommended continuing the anti-dumping duties for a period of five years, specifically as follows: Chinese producers at USD 40.08 per metric ton, South Korean producers at USD 140.17 per metric ton. Meanwhile, a negative final finding was made in the first sunset review for the product imported from Thailand, recommending against the continuation of anti-dumping duties.

Declining Trend in China’s Annual Phthalic Anhydride Exports to India

According to customs data, China’s total phthalic anhydride exports in 2025 were approximately 159,000 tons. Among the major export destinations in 2025, Vietnam ranked first with about 28,000 tons, accounting for roughly 18% of total exports. The UAE came second with 16,000 tons, representing about 10% of the total. India ranked third with around 15,000 tons, accounting for about 9% of total exports. Saudi Arabia ranked fourth with about 10,000 tons, representing approximately 7%, and Colombia ranked fifth with about 8,000 tons, accounting for about 5% of total exports. As can be seen from the data, over the past five years, China's annual phthalic anhydride exports to India showed a trend of rising and then falling. Exports to India peaked in 2023, mainly because the Indian government implemented mandatory BIS certification for phthalic anhydride starting in the second half of 2023, which caused export volumes to concentrate in the first half of that year, making 2023 the peak year for exports to India in recent years. In 2024, with the implementation of BIS certification for phthalic anhydride in India, exports to India plummeted, dropping to second place in the annual ranking. Entering 2025, the annual export volume of phthalic anhydride to India further declined to third place.

Since the beginning of 2026, domestic phthalic anhydride exports have continued to grow. According to customs data, exports for January-March 2026 reached 41,600 tons, a year-on-year increase of 1.5%. Exports to Vietnam remained firmly in first place at 10,000 tons, accounting for about 24% of total exports. Pakistan ranked second with 3,600 tons, representing 8.6% of total exports. Saudi Arabia ranked third with 2,690 tons, accounting for about 6.5% of total exports. Exports to India fell to fourth place, with 2,670 tons, accounting for about 6.4% of total exports.

| Figure 1: Comparison of China's Phthalic Anhydride Export Volume by Top 5 Destinations, 2021–2025 (Unit: 10,000 tons) | Figure 2: Comparison of China's Phthalic Anhydride Export Volume by Top 10 Destinations, Jan–Mar 2026 (Unit: %) |
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| Source: chempricehub.com | Source: chempricehub.com |

Rapid Growth in China’s Phthalic Anhydride Exports to Vietnam

As exports to India continue to decline, exports to Vietnam and Pakistan have grown rapidly, becoming new growth drivers for phthalic anhydride exports. In recent years, affected by the Sino-US tariff disputes and rising domestic costs, many domestic enterprises have relocated overseas to avoid political and economic conflicts. Some manufacturing companies have moved to Southeast Asia. Since the main downstream sectors of phthalic anhydride are phthalate plasticizers and unsaturated polyester resins, the rapid expansion of downstream demand in Vietnam has created a significant supply gap for phthalic anhydride in that country, enabling sustained growth in Chinese exports to Vietnam. In summary, the expansion of downstream demand in Vietnam and the proactive shift by Chinese enterprises to new export markets are the two core engines driving the surge in export volume. Currently, Vietnam has become the most important growth pole for China’s phthalic anhydride exports, and this trend is expected to continue for some time.

Statistics of China’s Phthalic Anhydride Export Destinations (Jan–Mar 2026)

| Export Destination | Quantity (tons) | Value (USD) | Average Price (USD/ton) |
| --- | --- | --- | --- |
| Vietnam | 9,967.00 | 7,418,149 | 744.27 |
| Pakistan | 3,565.00 | 2,681,869 | 752.28 |
| Saudi Arabia | 2,693.00 | 2,451,441 | 910.30 |
| India | 2,671.90 | 2,261,113 | 846.26 |
| Colombia | 2,615.00 | 1,918,439 | 733.63 |
| Thailand | 1,477.70 | 1,160,929 | 785.63 |
| Brazil | 1,409.00 | 1,045,509 | 742.02 |
| Kenya | 1,395.00 | 1,174,534 | 841.96 |
| Malaysia | 1,323.50 | 981,932 | 741.92 |
| Egypt | 1,261.50 | 1,020,066 | 808.61 |
| UAE | 1,212.00 | 919,695 | 758.82 |
| Peru | 1,165.50 | 927,528 | 795.82 |
| South Africa | 1,129.50 | 898,346 | 795.35 |
| Bangladesh | 1,062.50 | 923,948 | 869.60 |
| Ecuador | 1,032.00 | 817,288 | 791.95 |
| Tunisia | 989.00 | 873,377 | 883.09 |
| Singapore | 609.00 | 477,404 | 783.91 |
| Chile | 594.00 | 456,854 | 769.11 |
| Philippines | 564.50 | 451,738 | 800.24 |
| Dominican Republic | 504.00 | 383,040 | 760.00 |
| Argentina | 476.00 | 351,534 | 738.52 |
| Turkey | 450.25 | 352,347 | 782.56 |
| Indonesia | 359.00 | 269,269 | 750.05 |
| Venezuela | 345.00 | 266,822 | 773.40 |
| Guatemala | 308.00 | 242,900 | 788.64 |
| Ghana | 305.00 | 250,718 | 822.03 |
| Jordan | 269.00 | 304,108 | 1,130.51 |
| Morocco | 262.50 | 192,844 | 734.64 |
| Poland | 222.00 | 177,211 | 798.25 |
| Nigeria | 215.00 | 167,174 | 777.55 |
| Russia | 200.00 | 152,040 | 760.20 |
| South Korea | 195.50 | 171,594 | 877.72 |
| Sri Lanka | 132.00 | 114,730 | 869.17 |
| Australia | 126.00 | 111,941 | 888.42 |
| Uzbekistan | 96.00 | 75,609 | 787.59 |
| Spain | 84.00 | 63,571 | 756.80 |
| Costa Rica | 75.00 | 58,900 | 785.33 |
| Mexico | 56.00 | 42,469 | 758.38 |
| Uganda | 50.00 | 41,654 | 833.08 |
| Rwanda | 27.00 | 23,247 | 861.00 |
| Greece | 24.00 | 17,098 | 712.42 |
| Canada | 18.90 | 15,121 | 800.05 |
| United Kingdom | 18.00 | 16,012 | 889.56 |
| Panama | 15.00 | 12,370 | 824.67 |
| North Korea | 10.00 | 6,976 | 697.60 |
| Total | 41,579.75 | 32,741,458 | 787.44 |

Currently, due to India’s continued imposition of anti-dumping duties on domestic phthalic anhydride, the cost of exporting to India remains high. However, the anti-dumping duty rate on South Korean products is much higher than that on Chinese products, and since South Korean phthalic anhydride manufacturers are China’s main competitors in the export market, the impact on China’s export volume is limited. In particular, after several years of policy effects such as India’s mandatory BIS certification and anti-dumping duties, the focus of China’s phthalic anhydride exports has shifted. Exports to India have fallen from first place to fourth place, and the importance of the Indian market for Chinese exports continues to decline. While India’s policy risks are unlikely to change in the short term, the rapid expansion of Vietnam’s manufacturing sector, combined with its structural reliance on imported raw materials, ensures that Vietnam will remain the core growth pole for China’s phthalic anhydride exports in the foreseeable future.