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

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

In 2021, the North American market for phthalic anhydride, terephthalic acid and its salts increased by 2.6% to $X for the first time since 2013, thus ending a seven-year declining trend. Over the period under review, consumption, however, recorded a deep setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in Northern America

In value terms, phthalic anhydride and terephthalic acid production totaled $X in 2021 estimated in export price. In general, production, however, showed a deep slump. The pace of growth was the most pronounced in 2013 when the production volume increased by 7.5% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports in Northern America

In 2021, phthalic anhydride and terephthalic acid exports in Northern America amounted to X tons, with an increase of 11% compared with 2020. Overall, exports, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 711%. Over the period under review, the exports reached the peak figure 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 recorded resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 803% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States prevails in exports structure, accounting for X tons, which was approx. 98% of total exports in 2021. Canada (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to phthalic anhydride and terephthalic acid exports from the United States stood at -13.9%. At the same time, Canada (+17.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +17.0% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) remains the largest phthalic anhydride and terephthalic acid supplier in Northern America, comprising 89% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports.

In Canada, phthalic anhydride and terephthalic acid exports expanded at an average annual rate of +135.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, jumping by 93% against the previous year. In general, the export price recorded a significant expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 399% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+101.4%).

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in Northern America

Phthalic anhydride and terephthalic acid imports contracted to X tons in 2021, shrinking by -7.4% against the previous year. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 36%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid imports amounted to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the one major importers of phthalic anhydride, terephthalic acid and its salts, namely the United States, represented more than two-thirds of total import.

The United States was also the fastest-growing in terms of the phthalic anhydride, terephthalic acid and its salts imports, with a CAGR of +3.3% from 2012 to 2021. The United States (+4 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported phthalic anhydride, terephthalic acid and its salts in Northern America.

In the United States, phthalic anhydride and terephthalic acid imports expanded at an average annual rate of +2.2% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, rising by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2013 an increase of 19%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -1.1% per year.

Source: IndexBox Platform

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