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

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

The East Asian market for phthalic anhydride, terephthalic acid and its salts fell markedly to $X in 2021, which is down by -15.7% against the previous year. Overall, consumption saw a abrupt slump. 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 Eastern Asia

In value terms, phthalic anhydride and terephthalic acid production surged to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports in Eastern Asia

In 2021, approx. X tons of phthalic anhydride, terephthalic acid and its salts were exported in Eastern Asia; rising by 55% on 2020 figures. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporter of phthalic anhydride, terephthalic acid and its salts in Eastern Asia, with the volume of exports recording X tons, which was near 49% of total exports in 2021. South Korea (X tons) took a 29% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (21%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +79.1%), while the other leaders experienced a decline in the exports figures.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 99% of total exports.

China, with a CAGR of +65.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 25% against the previous year. In general, the export price, however, recorded a deep setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-4.8%), while the other leaders experienced a decline in the export price figures.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in Eastern Asia

In 2021, supplies from abroad of phthalic anhydride, terephthalic acid and its salts decreased by -75.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports showed a sharp decline. The pace of growth was the most pronounced in 2019 with an increase of 44% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid imports shrank notably to $X in 2021. Overall, imports saw a precipitous descent. The most prominent rate of growth was recorded in 2018 with an increase of 61% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons) and Japan (X tons) prevails in imports structure, together constituting 85% of total imports. Macao SAR (X tons) took the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held near 13% share of total imports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Macao SAR (with a CAGR of +36.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Macao SAR ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 89% of total imports.

Macao SAR, with a CAGR of +55.9%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, the import price in Eastern Asia amounted to $X per ton, increasing by 50% against the previous year. Over the period under review, the import price, however, saw a pronounced setback. The level of import peaked at $X per ton in 2012; however, from 2013 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 South Korea ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Macao SAR (+14.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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