United Arab Emirates: Market for Phthalic Anhydride, Terephthalic Acid And Its Salts 2024

Market Size for Phthalic Anhydride, Terephthalic Acid And Its Salts in the United Arab Emirates

In 2021, the market for phthalic anhydride, terephthalic acid and its salts in the United Arab Emirates increased by 33% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a abrupt setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in the United Arab Emirates

In value terms, phthalic anhydride and terephthalic acid production reduced rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate measured growth. The growth pace was the most rapid in 2020 with an increase of 95%. As a result, production reached the peak level of $X, and then dropped dramatically in the following year.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from the United Arab Emirates

After four years of growth, shipments abroad of phthalic anhydride, terephthalic acid and its salts decreased by -34.8% to X tons in 2021. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 531%. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, phthalic anhydride and terephthalic acid exports dropped dramatically to $X in 2021. In general, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 352%. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Oman (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from the United Arab Emirates, accounting for a 78% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Oman exceeded the volume sent to the second major destination, India (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Oman totaled +49.6%.

In value terms, Oman ($X) remains the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from the United Arab Emirates, comprising 69% of total exports. The second position in the ranking was held by India ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman totaled +36.8%.

Export Prices by Country

The average export price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, rising by 9.1% against the previous year. Over the period under review, the export price, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 an increase of 65% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average 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 India ($X per ton), while the average price for exports to Oman stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.1%).

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into the United Arab Emirates

In 2021, the amount of phthalic anhydride, terephthalic acid and its salts imported into the United Arab Emirates soared to X tons, with an increase of 33% on 2020. Over the period under review, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2013 when imports increased by 33%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid imports soared to $X in 2021. Overall, imports, however, saw a deep downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to the United Arab Emirates, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +18.1%), while purchases for the other leaders experienced a decline.

In value terms, the largest phthalic anhydride and terephthalic acid suppliers to the United Arab Emirates were India ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising 82% of total imports.

Among the main suppliers, India, with a CAGR of +12.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

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 40% against the previous year. Overall, the import price, however, continues to indicate a mild contraction. Over the period under review, average import prices reached the maximum 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 highest price was recorded for prices from India ($X per ton) and South Korea ($X per ton), while the price for Thailand ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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