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

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

After two years of decline, the Omani market for phthalic anhydride, terephthalic acid and its salts increased by 21% to $X in 2021. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in years to come.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from Oman

In 2021, approx. X tons of phthalic anhydride, terephthalic acid and its salts were exported from Oman; with an increase of 43% on the previous year. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 1,331%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid exports skyrocketed to $X in 2021. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 2,308%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from Oman, accounting for a 92% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to India exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to India totaled +23.0%.

In value terms, the largest markets for phthalic anhydride and terephthalic acid exported from Oman were India ($X) and the United Arab Emirates ($X).

The United Arab Emirates, with a CAGR of +89.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average export price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, shrinking by -5% against the previous year. Over the period under review, the export price, however, showed perceptible growth. The growth pace was the most rapid in 2013 an increase of 77%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to India stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+30.5%).

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Oman

For the sixth consecutive year, Oman recorded growth in overseas purchases of phthalic anhydride, terephthalic acid and its salts, which increased by 2.9% to X tons in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.4% against 2015 indices. The growth pace was the most rapid in 2013 when imports increased by 25% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, phthalic anhydride and terephthalic acid imports skyrocketed to $X in 2021. In general, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 42%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and South Korea (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to Oman, together accounting for 58% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +66.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phthalic anhydride and terephthalic acid suppliers to Oman were China ($X), Thailand ($X) and South Korea ($X), together comprising 57% of total imports.

China, with a CAGR of +64.6%, recorded the highest rates of growth with regard to the value of imports, among 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, picking up by 27% against the previous year. Overall, the import price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 35% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and Thailand ($X per ton), while the price for Sri Lanka ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+18.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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