18 Years of Focus: Wankai New Materials Expands Its PET Footprint from China to Global Markets

Over the past 18 years, the company has expanded its production capacity in China, developed an international customer base, established overseas production projects, and continued to invest in new PET-related technologies. Its development reflects a gradual shift from domestic manufacturing and product exports toward a more geographically distributed production and supply network.

One Focus: PET

Wankai's business remains highly concentrated on bottle-grade PET, which accounts for more than 96% of the company's revenue.

Bottle-grade PET is widely used in applications including drinking water and carbonated beverage bottles, edible oil and food containers, and various packaging products. As demand for packaged beverages and consumer products develops across different regions, PET continues to be an important material in the global packaging industry.

For Wankai, the focus on PET has been accompanied by continued investment in production, quality management, application development and technology.

The company's first production capacity came on stream in 2010. In 2018, Wankai established its Chongqing production base, further expanding its manufacturing footprint. By 2023, its PET production capacity had exceeded 3 million tons per year.

Today, Wankai's bottle-grade PET production capacity exceeds 3 million tons per year, while its products are supplied to customers in more than 100 countries and regions.

From Domestic Production to International Markets

International markets have become an increasingly important part of Wankai's business.

In 2025, exports accounted for approximately one-third of the company's business. In the first half of 2026, overseas revenue reached RMB 3.252 billion, representing 33.69% of total revenue.

The development of international business has also influenced the company's approach to overseas expansion.

After evaluating markets across Southeast Asia, the Middle East and Africa, Wankai began developing production projects in Nigeria and Indonesia.

Nigeria represents an important part of the company's efforts to establish a production presence in Africa, while Indonesia provides access to a large Southeast Asian market and its broader regional trade environment.

The expansion is therefore not limited to exporting PET products. It also involves exploring how production capacity, technical capabilities and supply resources can be developed across different regional markets.

Developing Regional Production and Supply Capabilities

The development of overseas production projects marks another stage in Wankai's internationalization.

The company's approach is gradually moving from supplying overseas customers primarily through exports toward exploring regional production and supply models.

The Nigeria project provides a production base in West Africa, while the Indonesia project forms part of Wankai's efforts to develop its presence in Southeast Asia.

Rather than applying a single model to every market, the company is assessing regional demand, supply conditions and business requirements as it develops its overseas operations.

For an industry in which transportation, production location and regional demand can all influence supply arrangements, geographical diversification of production can become an important consideration as international business expands.

Continuing to Develop PET Technologies

Wankai's focus on PET also extends beyond conventional bottle-grade PET production.

The company is advancing a ton-scale chemical recycling PET project, with process optimization and product validation underway. Chemical recycling is being explored as one potential pathway for recovering PET materials and supporting greater circularity in the packaging value chain.

Wankai is also developing bio-based polyester technologies. Its bio-based furan polyester products have obtained approval for food-contact applications, providing a basis for further development and evaluation of bio-based materials for packaging-related applications.

These activities reflect the broader technological changes taking place within the PET industry, where material performance, resource efficiency and circularity are receiving increasing attention.

PET Demand and the Changing Packaging Landscape

Global PET demand continues to be influenced by population growth, urbanization, packaged beverage consumption and changes in consumer lifestyles.

Regional markets, however, remain at different stages of development.

Developed markets generally have higher levels of PET consumption per capita, while emerging markets in Africa and Southeast Asia continue to have room for further development as packaged beverage and consumer-goods markets expand.

At the same time, the packaging industry is facing growing requirements related to recycling, recycled content and carbon reduction.

For PET, this is creating opportunities as well as technical and regulatory challenges. The future development of the material is likely to involve not only additional demand for conventional PET, but also greater attention to recycled and lower-carbon material solutions.

Continuing the PET Journey

From its early production base in Zhejiang to its Chongqing manufacturing operations and developing overseas projects, Wankai's international development has taken place alongside its continued focus on PET.

The company entered the Shenzhen Stock Exchange's ChiNext market in 2022 under stock code 301216. In the first half of 2026, Wankai reported revenue of RMB 9.652 billion, an increase of 17.52% year on year, while net profit attributable to shareholders was RMB 562 million.

As Wankai continues to develop its production, international operations and technology portfolio, PET remains the common thread connecting these activities.

The next stage of the journey will involve further development of regional production and supply capabilities, continued exploration of circular and bio-based PET technologies, and ongoing adaptation to changing requirements in global packaging markets.

18 years, one core material, and an evolving global journey in PET.