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

Market Size for Phthalic Anhydride, Terephthalic Acid And Its Salts in the Russian Federation

In 2021, the Russian market for phthalic anhydride, terephthalic acid and its salts increased by 5.4% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in the Russian Federation

In value terms, phthalic anhydride and terephthalic acid production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt descent. The pace of growth appeared the most rapid in 2013 when the production volume increased by 8.6% against the previous year. As a result, production attained 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 the Russian Federation

For the third consecutive year, Russia recorded growth in overseas shipments of phthalic anhydride, terephthalic acid and its salts, which increased by 17% to X tons in 2021. In general, total exports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 58% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid exports surged to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons), Turkey (X tons) and Egypt (X tons) were the main destinations of phthalic anhydride and terephthalic acid exports from Russia, together accounting for 43% of total exports. Belarus, Colombia, Finland, Canada, Peru, India, Chile, Algeria, Ecuador and the Dominican Republic lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +371.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phthalic anhydride and terephthalic acid exported from Russia were Poland ($X), Turkey ($X) and Belarus ($X), together accounting for 41% of total exports. Egypt, Colombia, Canada, Finland, Peru, Chile, India, Algeria, Ecuador and the Dominican Republic lagged somewhat behind, together accounting for a further 40%.

Colombia, with a CAGR of +292.0%, saw 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

The average export price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, with an increase of 45% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Canada ($X per ton) and Belarus ($X per ton), while the average price for exports to Turkey ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into the Russian Federation

Phthalic anhydride and terephthalic acid imports into Russia rose slightly to X tons in 2021, growing by 1.6% against the year before. Over the period under review, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 44% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid imports surged to $X in 2021. Overall, imports recorded pronounced growth. The growth pace was the most rapid in 2018 with an increase of 43%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest phthalic anhydride and terephthalic acid supplier to Russia, accounting for a 81% share of total imports. Moreover, phthalic anhydride and terephthalic acid imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +92.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.1% per year) and Belarus (+6.3% per year).

In value terms, China ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to Russia, comprising 83% of total imports. The second position in the ranking was held by Belgium ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +88.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.0% per year) and Belarus (+2.1% 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, with an increase of 33% against the previous year. Overall, the import price, however, saw a abrupt slump. Over the period under review, average import prices attained the peak figure 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 Belarus ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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