Overview of the Global Market for Phthalic Anhydride, Terephthalic Acid And Its Salts

Market Size for Phthalic Anhydride, Terephthalic Acid And Its Salts

The global market for phthalic anhydride, terephthalic acid and its salts was estimated at $X in 2023, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, saw a perceptible downturn. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the global market remained at a lower figure.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts

In value terms, phthalic anhydride and terephthalic acid production amounted to $X in 2023 estimated in export price. In general, production, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2023, global production growth remained at a somewhat lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports

In 2023, overseas shipments of phthalic anhydride, terephthalic acid and its salts decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports showed a mild decline. The growth pace was the most rapid in 2021 with an increase of X%. The global exports peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid exports shrank to $X in 2023. Overall, exports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, China (X tons) represented the major exporter of phthalic anhydride, terephthalic acid and its salts, creating X% of total exports. South Korea (X tons) took the second position in the ranking, followed by Taiwan (Chinese) (X tons), Thailand (X tons) and Belgium (X tons). All these countries together took approx. X% share of total exports. Poland (X tons) and Malaysia (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the phthalic anhydride, terephthalic acid and its salts exports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Thailand (X%), Poland (X%), Taiwan (Chinese) (X%), South Korea (X%) and Belgium (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the global exports, while Taiwan (Chinese), Belgium and South Korea saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest phthalic anhydride and terephthalic acid supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by South Korea ($X), with a X% share of global exports. It was followed by Taiwan (Chinese), with an X% share.

From 2012 to 2023, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2023, the average export price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Belgium ($X per ton) and Poland ($X per ton), while China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the other global leaders experienced a decline in the export price figures.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports

In 2023, after two years of growth, there was decline in purchases abroad of phthalic anhydride, terephthalic acid and its salts, when their volume decreased by X% to X tons. Overall, imports recorded a slight downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, global imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid imports contracted to $X in 2023. Over the period under review, imports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, global imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Turkey (X tons) and India (X tons) were the key importers of phthalic anhydride, terephthalic acid and its saltsin the world, together achieving X% of total imports. Vietnam (X tons) ranks next in terms of the total imports with a X% share, followed by the United States (X%), Oman (X%) and Lithuania (X%). The following importers - Egypt (X tons), Germany (X tons), Russia (X tons), Pakistan (X tons), Spain (X tons), Italy (X tons) and Saudi Arabia (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest phthalic anhydride and terephthalic acid importing markets worldwide were Turkey ($X), India ($X) and the United States ($X), together accounting for X% of global imports. Vietnam, Oman, Lithuania, Egypt, Germany, Italy, Spain, Pakistan, Russia and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Global import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform