China SBS total output to reach 1.25 mln tonnes in 2026

China's SBS market faces a clear oversupply in 2026, with OilChem projecting a surplus of 278,000 tonnes. This persistent surplus is expected to pressure prices and drive inventory build-up, primarily due to net capacity reduction. Monitor quarterly output, especially a potential Q4 decline as margins narrow.

According to OilChem data, China SBS capacity is projected to reach 1.96 million tonnes/year by 2026, while total output is expected to be 1.25 million tonnes. China SBS Output & Capacity Utilization Rate, 2025-2026 (Unit: '000 tonnes, '000 t/y) Source: OilChem In 2026, China's SBS industry will undergo capacity restructuring: it is