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

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

For the fourth consecutive year, the Turkish market for phthalic anhydride, terephthalic acid and its salts recorded growth in sales value, which increased by 65% to $X in 2021. In general, consumption posted noticeable growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from Turkey

In 2021, overseas shipments of phthalic anhydride, terephthalic acid and its salts were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, phthalic anhydride and terephthalic acid exports surged to $X in 2021. Overall, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons), Russia (X tons) and Morocco (X tons) were the main destinations of phthalic anhydride and terephthalic acid exports from Turkey, together comprising 51% of total exports. Italy, Poland, Egypt and Spain lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +744.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Russia ($X) and Morocco ($X) appeared to be the largest markets for phthalic anhydride and terephthalic acid exported from Turkey worldwide, together comprising 49% of total exports. These countries were followed by Italy, Poland, Spain and Egypt, which together accounted for a further 12%.

In terms of the main countries of destination, Poland, with a CAGR of +801.5%, recorded the highest rates of growth with regard to the value of exports, 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 41% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. 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 stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and Morocco ($X per ton), while the average price for exports to Greece ($X per ton) and Russia ($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 Belgium (+21.0%), 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 Turkey

For the fifth consecutive year, Turkey recorded growth in overseas purchases of phthalic anhydride, terephthalic acid and its salts, which increased by 34% to X tons in 2021. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 45%. Imports peaked in 2021 and are likely to see steady growth in the near future.

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

Imports by Country

In 2021, South Korea (X tons) constituted the largest phthalic anhydride and terephthalic acid supplier to Turkey, with a 43% share of total imports. Moreover, phthalic anhydride and terephthalic acid imports from South Korea exceeded the figures recorded by the second-largest supplier, Portugal (X tons), threefold. China (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +72.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+24.5% per year) and China (+147.2% per year).

In value terms, South Korea ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to Turkey, comprising 43% of total imports. The second position in the ranking was taken by Portugal ($X), with a 16% share of total imports. It was followed by China, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +61.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+18.9% per year) and China (+124.2% per year).

Import Prices by Country

In 2021, the average import price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, growing by 42% against the previous year. Overall, the import price, however, recorded a abrupt decline. 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.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and South Korea ($X per ton), while the price for India ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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