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

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

In 2021, the Asia-Pacific market for phthalic anhydride, terephthalic acid and its salts decreased by -0.2% to $X, falling for the third year in a row after two years of growth. In general, consumption continues to indicate a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 9.6%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, phthalic anhydride and terephthalic acid production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep slump. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports in Asia-Pacific

In 2021, exports of phthalic anhydride, terephthalic acid and its salts in Asia-Pacific skyrocketed to X tons, rising by 45% on the previous year. In general, exports, however, showed a perceptible descent. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the key exporter of phthalic anhydride, terephthalic acid and its salts in Asia-Pacific, with the volume of exports amounting to X tons, which was near 46% of total exports in 2021. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together comprising a 48% share of total exports. The following exporters - Malaysia (X tons), India (X tons) and Indonesia (X tons) - each amounted to a 5.1% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +79.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest phthalic anhydride and terephthalic acid supplying countries in Asia-Pacific were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for 93% of total exports.

In terms of the main exporting countries, China, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 27% against the previous year. Overall, the export price, however, saw a deep setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in India ($X per ton) and Malaysia ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-3.0%), while the other leaders experienced a decline in the export price figures.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in Asia-Pacific

In 2021, phthalic anhydride and terephthalic acid imports in Asia-Pacific expanded rapidly to X tons, increasing by 15% against 2020. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of 38%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid imports skyrocketed to $X in 2021. In general, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 64% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) represented the main importer of phthalic anhydride, terephthalic acid and its salts, committing 59% of total imports. It was distantly followed by Vietnam (X tons), generating a 20% share of total imports. The following importers - Indonesia (X tons), Pakistan (X tons), China (X tons), Malaysia (X tons) and Japan (X tons) - together made up 18% of total imports.

Imports into India increased at an average annual rate of +9.8% from 2012 to 2021. At the same time, Pakistan (+23.2%), Vietnam (+11.2%) and Japan (+1.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +23.2% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-4.2%) and China (-36.3%) illustrated a downward trend over the same period. While the share of India (+50 p.p.), Vietnam (+17 p.p.), Pakistan (+3.7 p.p.), Indonesia (+2.9 p.p.) and Japan (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-77.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported phthalic anhydride, terephthalic acid and its salts in Asia-Pacific, comprising 58% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by Pakistan, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+5.1% per year) and Pakistan (+11.8% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, increasing by 36% against the previous year. Overall, the import price, however, recorded a perceptible decline. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-4.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :