What caused Japan's 25.1% year-on-year decline in PVC resin shipments in May?

The decline was primarily caused by scheduled maintenance at Shin-Etsu Chemical's production facilities, which began in May and led to a significant drop in PVC resin output; the Japanese PVC Industry and Environment Association explicitly attributed the 25.1% year-on-year fall in May shipments — to 80,000 tons — to this maintenance activity.

How did inventory levels fare in Japan for PVC resin in May despite the sharp shipment decline?

Despite the 25.1% year-on-year drop in May shipments, PVC resin inventory levels in Japan recovered to over 150,000 tons, matching the level from the same month last year, indicating that stockpiling ahead of the maintenance period helped offset the production shortfall.

Japan's May PVC Resin Shipments Drop 25%

Jun 23, 2026

Japan's May PVC resin shipments dropped 25.1% YoY to 80,000 tons due to Shin-Etsu Chemical maintenance, while inventory remained stable above 150,000 tons.

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