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

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

In 2021, the Israeli market for phthalic anhydride, terephthalic acid and its salts increased by 8.5% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt decline. Over the period under review, the market reached the peak level 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 Israel

In value terms, phthalic anhydride and terephthalic acid production rose rapidly to $X in 2021 estimated in export price. In general, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 7.1% against the previous year. Over the period under review, production attained the peak level 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 Israel

In 2021, overseas shipments of phthalic anhydride, terephthalic acid and its salts decreased by -17.7% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 45%. Over the period under review, the exports attained the maximum at X tons in 2020, and then dropped sharply in the following year.

In value terms, phthalic anhydride and terephthalic acid exports skyrocketed to $X in 2021. Over the period under review, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2018 with an increase of 54% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from Israel, with a 33% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Turkey exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.4% per year) and the United States (+2.6% per year).

In value terms, Turkey ($X) remains the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from Israel, comprising 33% of total exports. The second position in the ranking was held by Italy ($X), with an 8.6% share of total exports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+1.5% per year) and the United States (-1.7% 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 45% against the previous year. Over the period under review, the export price, however, saw a noticeable slump. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Argentina ($X per ton) and the United States ($X per ton), while the average price for exports to India ($X per ton) and Canada ($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 Colombia (+4.9%), while the prices for the other major destinations experienced a decline.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Israel

In 2021, phthalic anhydride and terephthalic acid imports into Israel contracted significantly to X tons, with a decrease of -20.5% compared with the year before. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 510%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid imports declined slightly to $X in 2021. Overall, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 366%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), South Korea (X tons) and China (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to Israel, together comprising 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +44.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest phthalic anhydride and terephthalic acid suppliers to Israel were India ($X), South Korea ($X) and China ($X), with a combined 99% share of total imports.

India, with a CAGR of +42.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, rising by 20% against the previous year. In general, the import price, however, showed a perceptible decline. 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 somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+18.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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