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

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

In 2021, the Norwegian market for phthalic anhydride, terephthalic acid and its salts was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a abrupt downturn. Phthalic anhydride and terephthalic acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in Norway

In value terms, phthalic anhydride and terephthalic acid production expanded notably to $X in 2021 estimated in export price. In general, production, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when the production volume increased by 15%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from Norway

In 2021, after four years of growth, there was significant decline in overseas shipments of phthalic anhydride, terephthalic acid and its salts, when their volume decreased by -60% to X tons. Overall, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2015 when exports increased by 157%. The exports peaked at X tons in 2020, and then declined notably in the following year.

In value terms, phthalic anhydride and terephthalic acid exports shrank markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 73%. Over the period under review, the exports reached the peak figure at $X in 2020, and then declined markedly in the following year.

Exports by Country

Sweden (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from Norway, with a 51% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Sweden exceeded the volume sent to the second major destination, France (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to +5.6%.

In value terms, Sweden ($X) remains the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from Norway, comprising 50% of total exports. The second position in the ranking was held by France ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Sweden was relatively modest.

Export Prices by Country

In 2021, the average export price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, surging by 36% against the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. 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 external markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to France stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+57.6%), while the prices for the other major destinations experienced a decline.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Norway

In 2021, imports of phthalic anhydride, terephthalic acid and its salts into Norway surged to X tons, picking up by 870% compared with the year before. Overall, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, phthalic anhydride and terephthalic acid imports skyrocketed to $X in 2021. In general, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium (X tons), Austria (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to Norway, with a combined 22% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +74.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Austria ($X) and Taiwan (Chinese) ($X) were the largest phthalic anhydride and terephthalic acid suppliers to Norway, together accounting for 20% of total imports. Spain and Italy lagged somewhat behind, together comprising a further 1.5%.

Italy, with a CAGR of +64.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, increasing by 16% against the previous year. In general, the import price, however, continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2017 when the average import price increased by 29%. The import price 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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