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

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

The Central Asian market for phthalic anhydride, terephthalic acid and its salts was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 9.1% against the previous year. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

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

In value terms, phthalic anhydride and terephthalic acid production expanded notably to $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 10%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports in Central Asia

In 2021, exports of phthalic anhydride, terephthalic acid and its salts in Central Asia dropped notably to X tons, which is down by -81.2% on the previous year. In general, exports recorded a sharp decrease. Over the period under review, the exports attained 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 contracted significantly to $X in 2021. Overall, exports continue to indicate a dramatic decrease. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Kazakhstan (X tons), together reaching 100% of total export.

Kazakhstan was also the fastest-growing in terms of the phthalic anhydride, terephthalic acid and its salts exports, with a CAGR of -81.2% from 2012 to 2021. From 2012 to 2021, the share of Kazakhstan increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest phthalic anhydride and terephthalic acid supplier in Central Asia.

In Kazakhstan, phthalic anhydride and terephthalic acid exports decreased by an average annual rate of -75.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, growing by 30% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +7.2%. The pace of growth appeared the most rapid in 2015 an increase of 30% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +30.2% per year.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in Central Asia

In 2021, purchases abroad of phthalic anhydride, terephthalic acid and its salts decreased by -44.4% to X tons for the first time since 2014, thus ending a six-year rising trend. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 1,122%. Over the period under review, imports reached the maximum at X tons in 2020, and then contracted significantly in the following year.

In value terms, phthalic anhydride and terephthalic acid imports reduced remarkably to $X in 2021. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 718%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Uzbekistan dominates imports structure, resulting at X tons, which was approx. 91% of total imports in 2021. It was distantly followed by Kazakhstan (X tons), comprising a 7.3% share of total imports.

Uzbekistan was also the fastest-growing in terms of the phthalic anhydride, terephthalic acid and its salts imports, with a CAGR of -1.8% from 2012 to 2021. Kazakhstan (-2.8%) illustrated a downward trend over the same period. While the share of Uzbekistan (+91 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kazakhstan (-88.5 p.p.) displayed negative dynamics.

In value terms, Uzbekistan ($X) constitutes the largest market for imported phthalic anhydride, terephthalic acid and its salts in Central Asia, comprising 85% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 14% share of total imports.

In Uzbekistan, phthalic anhydride and terephthalic acid imports contracted by an average annual rate of -4.1% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, jumping by 29% against the previous year. Overall, the import price, however, showed a noticeable descent. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+2.6%).

Source: IndexBox Platform

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