Purified Isophthalic Acid (PIA) Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Purified Isophthalic Acid (PIA) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Purified Isophthalic Acid Price Trend for the First Half of 2023

Asia

The prices of purified isophthalic acid inclined in the first quarter of 2023 with support from the upstream industries. The equation of supply and demand was also well balanced during this time, which further supported the rise in prices of purified isophthalic acid.

Purified Isophthalic Acid (PIA) Price Chart

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In the second quarter, however, the trend declined as packaging industries showed low interest, and the feedstock market also performed poorly. Further, the fall in the economic conditions of the Asian countries led to a significant decline in the interest of buyers in this sector, causing the prices of purified isophthalic acid to follow a southward trajectory.

Europe

The European markets witnessed a high influx of imports from Asian countries, which led to a rise in the level of inventories only as the demand for purified isophthalic acid remained subdued throughout the first and second quarters of 2023. In the second quarter, weak market sentiments and the rise in inflation due to the poor economic condition of European countries played their part. The cost of production rose side by side with inflation and bank interest rates, which proved to be a challenge for the price trend of purified isophthalic acid.

North America

As observed in Europe, the North American markets of purified isophthalic acid also suffered from the influx of cheap imports from Asian markets. The situation became much more dire when several manufacturing units had to undergo routine maintenance shutdowns, resulting in disruption in the supply chains in the first quarter of 2023.

In the second quarter, the prices declined more steeply. The major contributing factor to this poor market sentiment of purified isophthalic acid was inconsistency in the cost of transportation, low cost of production, high fluctuations in the feedstock market, and rising level of inventories.

Analyst Insight

According to Procurement Resource, the price trend of Purified Isophthalic Acid is expected to continue its southward trajectory as the demand from the downstream sectors seems to be suffering from uneven market activities.

Procurement Resource provides latest prices of Purified isophthalic acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.