Phthalic Anhydride Price In USA
- United States: 1050 USD/MT
The price of phthalic anhydride in the USA for Q4 2023 reached 1330 USD/MT in December. The market fundamentals reached their lowest point caused by rising storage facility stocks and lack of demand from downstream industries. Trade between the USA and Canada was noticeably constrained despite the lower trend in upstream Naphthalene costs, which affected the phthalic anhydride pricing dynamics.
The latest report by IMARC, titled " Phthalic Anhydride Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of phthalic anhydride prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Phthalic Anhydride Prices December 2023:
- United States: 1050 USD/MT
- China: 1390 USD/MT
- Middle East: 1470 USD/MT
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The study delves into the factors affecting phthalic anhydride price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Phthalic Anhydride Price Trend- Q4 2023
Phthalic Anhydride (PA) is a key industrial chemical primarily utilized in the production of plasticizers, which are crucial for manufacturing flexible PVC used in a variety of consumer and industrial applications. The robust demand for PVC products, such as cables, flooring, roofing materials, and packaging, significantly drives the global market for phthalic anhydride. As the construction and automotive sectors continue to expand, especially in emerging economies, the need for durable and versatile plastic products escalates, further stimulating the demand for PA-based plasticizers.
Additionally, phthalic anhydride is extensively used in the production of unsaturated polyester resins (UPRs). UPRs are essential in the manufacture of fiberglass-reinforced plastics, which are prevalent in industries such as marine, automotive, and construction due to their strength and lightweight properties. The growing use of these materials in modern engineering and construction projects contributes to the increasing consumption of phthalic anhydride. Technological innovations and advancements in the chemical processing sector also play a significant role in the market growth of phthalic anhydride. Improvements in production processes have enhanced the efficiency and environmental sustainability of PA manufacturing, aligning with global environmental regulations and standards. This not only helps in maintaining compliance but also in reducing operational costs, making the production process more appealing to manufacturers. Moreover, the development of bio-based phthalic anhydride, offering an eco-friendly alternative, is beginning to gain traction, potentially opening new avenues for market growth in response to rising sustainability trends.
Phthalic Anhydride Market Analysis
The global phthalic anhydride market size reached US$ 4.4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 6.9 Billion, at a projected CAGR of 5.20% during 2023-2032. In the last quarter of 2023, several factors significantly influenced the pricing dynamics of Phthalic Anhydride across different global markets, characterized predominantly by bearish trends. In North America, an overwhelming theme was the surplus supply juxtaposed against weakened demand, which profoundly impacted the market's pricing structure. The presence of ample inventories, a result of overproduction and subdued procurement by downstream sectors, notably in the plasticizer markets, pressured prices downwards. Suppliers, faced with bloated stock levels and dwindling export opportunities, especially to neighboring markets like Canada, found little leverage to negotiate or sustain prices, leading to a notable decline in the quarter. Furthermore, the upstream market conditions, particularly the price reductions in raw materials such as Naphthalene, contributed to the downward pressure on Phthalic Anhydride prices. The cumulative effect of these supply and demand dynamics resulted in one of the lowest pricing points in the year for Phthalic Anhydride in the North American market.
In contrast, the Asia-Pacific (APAC) region exhibited a slightly different trend influenced by strategic adjustments and external economic activities. The quarter began with anticipation of increased demand following the Golden Week, leading to a temporary ramp-up in trading activities. However, the expected surge in demand from downstream agrochemical and plasticizer sectors did not materialize as forecasted, resulting in an accumulation of inventories. This surplus prompted suppliers to offer discounts to clear existing stock, further depressing prices. Additionally, the continued decline in the prices of key upstream components like o-xylene and stable prices of Naphthalene during the quarter provided little support to maintain price levels. Production adjustments, including reduced manufacturing rates aimed at preventing further oversupply, were indicative of suppliers' attempts to stabilize the market. These actions, however, could not offset the overarching market sentiment of ample supply and lackluster demand, resulting in a significant quarter-over-quarter price decline in the APAC region. The pricing trends in these regions illustrate the complex interplay between supply chain adjustments, upstream market fluctuations, and regional economic factors, all of which collectively shaped the global market landscape for Phthalic Anhydride during the period.
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Key Points Covered in the Phthalic Anhydride Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Phthalic Anhydride Prices
- Phthalic Anhydride Price Trend
- Phthalic Anhydride Demand & Supply
- Phthalic Anhydride Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Phthalic Anhydride Price Analysis
- Phthalic Anhydride Industry Drivers, Restraints, and Opportunities
- Phthalic Anhydride News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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