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

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

In 2022, the MENA's market for phthalic anhydride, terephthalic acid and its salts increased by X% to $X, rising for the second year in a row after seven years of decline. Over the period under review, consumption, however, showed a noticeable reduction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in MENA

In value terms, phthalic anhydride and terephthalic acid production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a deep contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports in MENA

In 2022, shipments abroad of phthalic anhydride, terephthalic acid and its salts decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid exports reduced to $X in 2022. Overall, exports showed a perceptible contraction. The pace of growth was the most pronounced in 2018 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of phthalic anhydride, terephthalic acid and its salts, namely Israel, Turkey and Iran, represented more than two-thirds of total export. The following exporters - the United Arab Emirates (X tons) and Saudi Arabia (X tons) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest phthalic anhydride and terephthalic acid supplying countries in MENA were Israel ($X), Turkey ($X) and Iran ($X), together accounting for X% of total exports.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, jumping by X% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phthalic anhydride and terephthalic acid export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports in MENA

In 2022, overseas purchases of phthalic anhydride, terephthalic acid and its salts increased by X% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, phthalic anhydride and terephthalic acid imports skyrocketed to $X in 2022. In general, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Turkey represented the key importing country with an import of about X tons, which accounted for X% of total imports. It was distantly followed by Oman (X tons), Egypt (X tons) and Saudi Arabia (X tons), together comprising a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to phthalic anhydride and terephthalic acid imports into Turkey stood at X%. At the same time, Egypt (X%), Saudi Arabia (X%) and Oman (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Turkey (X p.p.), Egypt (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported phthalic anhydride, terephthalic acid and its salts in MENA, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with an X% share of total imports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Egypt (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, recorded a mild decrease. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Egypt ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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