U.S.: Market for Phthalic Anhydride, Terephthalic Acid And Its Salts 2024

Market Size for Phthalic Anhydride, Terephthalic Acid And Its Salts in the U.S.

The U.S. market for phthalic anhydride, terephthalic acid and its salts was finally on the rise to reach $X in 2021, after seven years of decline. Overall, consumption, however, showed a deep contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in the U.S.

In value terms, phthalic anhydride and terephthalic acid production surged to $X in 2021. Over the period under review, production, however, saw a abrupt decrease. Phthalic anhydride and terephthalic acid production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from the U.S.

In 2021, the amount of phthalic anhydride, terephthalic acid and its salts exported from the United States rose remarkably to X tons, growing by 10% on the year before. Over the period under review, exports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 727% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 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 deep contraction. The pace of growth was the most pronounced in 2017 when exports increased by 513% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from the United States, accounting for a 66% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Argentina exceeded the volume sent to the second major destination, Saudi Arabia (X tons), sixfold. Canada (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina stood at -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-33.4% per year) and Canada (-5.6% per year).

In value terms, Argentina ($X) remains the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from the United States, comprising 62% of total exports. The second position in the ranking was taken by Canada ($X), with a 14% share of total exports. It was followed by Saudi Arabia, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Argentina totaled -12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-8.9% per year) and Saudi Arabia (+1.1% per year).

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 57% against the previous year. Over the period under review, the export price, however, saw a pronounced shrinkage. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the average price for exports to Saudi Arabia ($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 Saudi Arabia (+51.6%), 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 U.S.

In 2021, the amount of phthalic anhydride, terephthalic acid and its salts imported into the United States reduced to X tons, shrinking by -7.9% against the previous year's figure. Overall, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.3% 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 decreased by -18.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 37%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid imports rose modestly to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 29%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of phthalic anhydride and terephthalic acid to the United States, accounting for a 67% share of total imports. Moreover, phthalic anhydride and terephthalic acid imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+36.3% per year) and South Korea (+110.0% per year).

In value terms, Canada ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to the United States, comprising 66% of total imports. The second position in the ranking was taken by Mexico ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Canada totaled -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+30.8% per year) and South Korea (+98.0% 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, growing by 13% against the previous year. Overall, the import price, however, saw a mild setback. The growth pace was the most rapid in 2013 an increase of 21%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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