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

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

In 2021, after two years of growth, there was decline in the Pakistani market for phthalic anhydride, terephthalic acid and its salts, when its value decreased by -3.5% to $X. Over the period under review, consumption, however, recorded a relatively flat trend pattern. 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 Pakistan

In value terms, phthalic anhydride and terephthalic acid production contracted to $X in 2021 estimated in export price. In general, production, however, recorded a mild setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from Pakistan

In 2021, shipments abroad of phthalic anhydride, terephthalic acid and its salts was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt setback. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid exports surged to $X in 2021. In general, exports, however, saw a abrupt slump. The exports peaked at $X in 2014; however, from 2015 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 Pakistan, with a 62% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Turkey exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by Egypt (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey amounted to +62.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+21.1% per year) and Egypt (0.0% per year).

In value terms, Turkey ($X), Saudi Arabia ($X) and Egypt ($X) appeared to be the largest markets for phthalic anhydride and terephthalic acid exported from Pakistan worldwide, with a combined 92% share of total exports.

Turkey, with a CAGR of +60.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, rising by 52% against the previous year. Overall, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Pakistan

In 2021, purchases abroad of phthalic anhydride, terephthalic acid and its salts increased by 321% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports posted significant growth. 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. Overall, imports saw resilient growth. 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

Thailand (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to Pakistan, together accounting for 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +240.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to Pakistan, comprising 68% of total imports. The second position in the ranking was taken by China ($X), with a 27% share of total imports. It was followed by South Korea, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+214.6% per year) and South Korea (-9.6% per year).

Import Prices by Country

The average import price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, falling by -40% against the previous year. In general, the import price showed a abrupt contraction. The pace of growth was the most pronounced in 2016 an increase of 74% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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