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

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

In 2021, the UK market for phthalic anhydride, terephthalic acid and its salts decreased by -12.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

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

In value terms, phthalic anhydride and terephthalic acid production reached $X in 2021 estimated in export price. In general, production continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2019 when the production volume increased by 5.1% against the previous year. Phthalic anhydride and terephthalic acid production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from the UK

Phthalic anhydride and terephthalic acid exports from the UK skyrocketed to X tons in 2021, surging by 216% against 2020. In general, exports, however, continue to indicate a significant contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid exports soared to $X in 2021. Overall, exports, however, faced a sharp slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from the UK, with a 50% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Belgium exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Portugal (X tons) ranked third in terms of total exports with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium stood at -37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+260.0% per year) and Portugal (+14,242.9% per year).

In value terms, Portugal ($X) emerged as the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from the UK, comprising 57% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports. It was followed by Belgium, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Portugal amounted to +11,598.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+217.7% per year) and Belgium (-38.0% 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, rising by 45% against the previous year. Overall, the export price enjoyed a prominent increase. The growth pace was the most rapid in 2019 when the average export price increased by 143%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Belgium ($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 France (+64.2%), 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 UK

In 2021, supplies from abroad of phthalic anhydride, terephthalic acid and its salts decreased by -77.7% to X tons, falling for the third year in a row after four years of growth. Over the period under review, imports showed a precipitous shrinkage. The growth pace was the most rapid in 2018 with an increase of 85%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, phthalic anhydride and terephthalic acid imports plummeted to $X in 2021. Overall, imports saw a significant decrease. The pace of growth appeared the most rapid in 2017 when imports increased by 195%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Belgium (X tons) and Austria (X tons) were the main suppliers of phthalic anhydride and terephthalic acid imports to the UK, with a combined 83% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +31.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Belgium ($X) and Austria ($X) appeared to be the largest phthalic anhydride and terephthalic acid suppliers to the UK, with a combined 82% share of total imports.

Italy, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for phthalic anhydride, terephthalic acid and its salts amounted to $X per ton, with an increase of 66% against the previous year. In general, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 109% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 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 countries with the highest prices were Austria ($X per ton) and Germany ($X per ton), while the price for Belgium ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :