Asia: Market for Phthalic Anhydride, Terephthalic Acid And Its Salts 2024

Market Size for Phthalic Anhydride, Terephthalic Acid And Its Salts in Asia

The Asian market for phthalic anhydride, terephthalic acid and its salts expanded to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in Asia

In value terms, phthalic anhydride and terephthalic acid production expanded notably to $X in 2023 estimated in export price. In general, production, however, showed a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports in Asia

In 2023, the amount of phthalic anhydride, terephthalic acid and its salts exported in Asia stood at X tons, increasing by X% on 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is likely to see gradual growth in the immediate term.

In value terms, phthalic anhydride and terephthalic acid exports shrank to $X in 2023. Over the period under review, exports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

China represented the major exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons), together making up a X% share of total exports. Malaysia (X tons) took a little share of total exports.

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%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.), Taiwan (Chinese) (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Malaysia ($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 Taiwan (Chinese) (X%), while the other leaders experienced a decline in the export price figures.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in Asia

Phthalic anhydride and terephthalic acid imports was estimated at X tons in 2023, increasing by X% compared with 2022. Overall, imports, however, showed a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs 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 fell to $X in 2023. In general, imports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Turkey (X tons) and India (X tons) represented the main importers of phthalic anhydride, terephthalic acid and its salts in 2023, accounting for near X% and X% of total imports, respectively. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%). Pakistan (X tons), Saudi Arabia (X tons) and Japan (X tons) held a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Pakistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), India ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the import price continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Pakistan ($X per ton) and Saudi Arabia ($X per ton), while Oman ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform