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

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

The MENA's market for phthalic anhydride, terephthalic acid and its salts was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, saw a slight setback. 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 MENA

In value terms, phthalic anhydride and terephthalic acid production expanded rapidly to $X in 2021 estimated in export price. Overall, production, however, showed a deep reduction. The level of 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 in MENA

In 2021, exports of phthalic anhydride, terephthalic acid and its salts in MENA totaled X tons, approximately equating the previous year's figure. Over the period under review, exports, however, showed a mild reduction. The growth pace was the most rapid in 2020 when exports increased by 37%. The volume of export peaked 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 skyrocketed to $X in 2021. In general, exports, however, recorded a noticeable curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), Israel (X tons), Turkey (X tons) and Iran (X tons), together recording 98% of total export. Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Tunisia (with a CAGR of +57.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest phthalic anhydride and terephthalic acid supplying countries in MENA were Israel ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 78% share of total exports. These countries were followed by Iran and Tunisia, which together accounted for a further 22%.

Tunisia, with a CAGR of +49.4%, recorded 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 more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, jumping by 40% against the previous year. In general, the export price, however, showed a noticeable setback. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while the United Arab Emirates ($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 (-0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in MENA

In 2021, overseas purchases of phthalic anhydride, terephthalic acid and its salts increased by 34% to X tons, rising for the fifth consecutive year after two years of decline. Overall, imports posted buoyant growth. The growth pace was the most rapid in 2013 with an increase of 37%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, phthalic anhydride and terephthalic acid imports skyrocketed to $X in 2021. Over the period under review, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the major importer of phthalic anhydride, terephthalic acid and its salts, achieving 59% of total imports. Oman (X tons) ranks second in terms of the total imports with a 22% share, followed by Saudi Arabia (15%). Egypt (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +21.0% from 2012 to 2021. At the same time, Saudi Arabia (+29.2%), Oman (+7.5%) and Egypt (+5.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in MENA, with a CAGR of +29.2% from 2012-2021. While the share of Turkey (+28 p.p.) and Saudi Arabia (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Oman (-11.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported phthalic anhydride, terephthalic acid and its salts in MENA, comprising 59% of total imports. The second position in the ranking was held by Oman ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 17% share.

In Turkey, phthalic anhydride and terephthalic acid imports increased at an average annual rate of +14.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+1.7% per year) and Saudi Arabia (+20.9% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, increasing by 41% against the previous year. Over the period under review, the import price, however, recorded a perceptible shrinkage. The level of import 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 importing countries. In 2021, major importing countries recorded the following prices: in Egypt ($X per ton) and Saudi Arabia ($X per ton), while Oman ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (-4.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform