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

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

In 2021, the Vietnamese market for phthalic anhydride, terephthalic acid and its salts decreased by -16.2% to $X, falling for the second consecutive year after four years of growth. Overall, consumption, however, showed a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from Vietnam

In 2021, overseas shipments of phthalic anhydride, terephthalic acid and its salts decreased by -28.5% to X tons, falling for the fourth consecutive year after six years of growth. Over the period under review, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2017 with an increase of 64% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid exports declined markedly to $X in 2021. In general, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2017 when exports increased by 100% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from Vietnam, accounting for a 92% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Ecuador exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador was relatively modest.

In value terms, Ecuador ($X) emerged as the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from Vietnam, comprising 93% of total exports. The second position in the ranking was taken by China ($X), with a 7.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador was relatively modest.

Export Prices by Country

The average export price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, picking up by 6.9% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, phthalic anhydride and terephthalic acid export price increased by +113.0% against 2013 indices. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.5%).

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Vietnam

In 2021, after five years of growth, there was significant decline in overseas purchases of phthalic anhydride, terephthalic acid and its salts, when their volume decreased by -23.1% to X tons. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2018 when imports increased by 57% against the previous year. Imports peaked at X tons in 2020, and then dropped markedly in the following year.

In value terms, phthalic anhydride and terephthalic acid imports dropped to $X in 2021. Overall, imports, however, saw resilient growth. The growth pace was the most rapid in 2018 when imports increased by 78%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest phthalic anhydride and terephthalic acid supplier to Vietnam, with a 58% share of total imports. Moreover, phthalic anhydride and terephthalic acid imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+60.2% per year) and Thailand (-1.6% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to Vietnam, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Thailand, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.7% per year) and Thailand (-7.0% 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, jumping by 16% against the previous year. Over the period under review, the import price, however, showed a abrupt slump. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :