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

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

In 2021, the Belgian market for phthalic anhydride, terephthalic acid and its salts decreased by -31.6% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a mild expansion. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

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

In value terms, phthalic anhydride and terephthalic acid production expanded rapidly to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 with an increase of 251% against the previous year. 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 Belgium

In 2021, after two years of decline, there was significant growth in shipments abroad of phthalic anhydride, terephthalic acid and its salts, when their volume increased by 35% to X tons. Over the period under review, exports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 879% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid exports soared to $X in 2021. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 775% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of phthalic anhydride and terephthalic acid exports from Belgium, together accounting for 63% 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 Turkey (with a CAGR of +8.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phthalic anhydride and terephthalic acid exported from Belgium were Germany ($X), Turkey ($X) and the Netherlands ($X), with a combined 58% share of total exports.

Among the main countries of destination, Turkey, with a CAGR of +3.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average export price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, with an increase of 3.5% against the previous year. In general, the export price, however, showed a noticeable downturn. The growth pace was the most rapid in 2017 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and Germany ($X per ton), while the average price for exports to Turkey ($X per ton) and the Netherlands ($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 France (+0.3%), while the prices for the other major destinations experienced a decline.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Belgium

In 2021, supplies from abroad of phthalic anhydride, terephthalic acid and its salts increased by 93% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports, however, showed a pronounced slump. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid imports soared to $X in 2021. In general, imports, however, saw a drastic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of phthalic anhydride and terephthalic acid to Belgium, accounting for a 54% share of total imports. Moreover, phthalic anhydride and terephthalic acid imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Spain (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +112.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-13.0% per year) and Spain (-10.2% per year).

In value terms, China ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to Belgium, comprising 43% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +89.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-14.4% per year) and the United States (+111.7% per year).

Import Prices by Country

The average import price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, rising by 31% against the previous year. Over the period under review, the import price, however, saw a noticeable reduction. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+12.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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