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

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

For the third year in a row, the Belarusian market for phthalic anhydride, terephthalic acid and its salts recorded decline in sales value, which decreased by -7.9% to $X in 2021. Over the period under review, consumption showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 9.7%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, phthalic anhydride and terephthalic acid production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 108%. Phthalic anhydride and terephthalic acid 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 from Belarus

In 2021, overseas shipments of phthalic anhydride, terephthalic acid and its salts were finally on the rise to reach X tons after two years of decline. Over the period under review, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, phthalic anhydride and terephthalic acid exports surged to $X in 2021. In general, exports recorded a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Lithuania (X tons) and Poland (X tons) were the main destinations of phthalic anhydride and terephthalic acid exports from Belarus, with a combined 61% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +114.5%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from Belarus, comprising 34% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 14% share of total exports. It was followed by Poland, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+100.3% per year) and Poland (+8.4% per year).

Export Prices by Country

The average export price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, rising by 39% against the previous year. Over the period under review, the export price, however, recorded a perceptible shrinkage. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and Poland ($X per ton), while the average price for exports to Lithuania ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+8.7%), while the prices for the other major destinations experienced a decline.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Belarus

In 2021, after two years of growth, there was significant decline in overseas purchases of phthalic anhydride, terephthalic acid and its salts, when their volume decreased by -7.4% to X tons. Overall, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.3% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 89%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid imports surged to $X in 2021. In general, imports saw a pronounced setback. The pace of growth was the most pronounced in 2019 with an increase of 77%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), South Korea (X tons) and Portugal (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to Belarus.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +24.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phthalic anhydride and terephthalic acid suppliers to Belarus were Poland ($X), South Korea ($X) and Portugal ($X).

Portugal, with a CAGR of +18.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other 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 2021, jumping by 25% against the previous year. Overall, the import price, however, showed a drastic downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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