Product
Terephthalic Acid Price Trend and Forecast
Terephthalic Acid Price Trend and Forecast
Regional Price Overview
Get the latest insights on price movement and trend analysis of Terephthalic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Terephthalic Acid Price Trend for the Second Half of 2022
Asia
The Asia-Pacific market witnessed a decline in the prices of terephthalic acid as the demand from end-user polymer industries declined. The manufacturers as a result were forced to reduce their profit margins and overall manufacturing declined in the region. These reasons for the decline persisted in the fourth quarter also. Weak market sentiments, sluggish demand, and a decrease in output led to a declining trajectory in the price trends for terephthalic acid.
Europe
The feedstock prices and oversupply of the product drove the prices of terephthalic acid in a negative direction in the said period. The prices were further affected by the rising crude oil prices due to the imposed sanctions on Russian supply and the persistent energy crises in the region. The shadows of long-feared recession and rising inflation led to uncertainties in the market and thus, in turn, negatively impacted the prices of terephthalic acid in the European region.
North America
The market for terephthalic acid was ruled by low demand, an increase in inventories level, and weak consumer confidence due to the possibility of a recession. Thus, a significant decline was observed in the third and fourth quarters of 2022. In addition to this, the problem of oversupply, falling crude oil prices, and build-up pressure from rising inventories due to a decline in export deteriorated the market conditions. Thus, the price trend for terephthalic acid declined consistently in the North American region.
Analyst Insight
According to Procurement Resource, the price trends for Terephthalic Acid are expected to decline in the upcoming months considering the fluctuating cost of crude oil, weak market sentiments, and low demand from the end-user industries.
Terephthalic Acid Price Trend For the First Half of 2022
The economic and political downturn which unfolded in the aftermath of the Russia-Ukraine war exposed the market’s vulnerability. With the European embargo on Russian oil and western sanctions against Russian exports, crude oil prices surged which negatively impacted the petrochemical industry. The main feedstock for terephthalic acid(TPA) being p-xylene, the prices of TPA surged globally.
The strong downstream demand for polyester and polyethene terephthalate further supported the high prices for TPA. The prices of feedstock p-xylene averaged 1575 USD/MT in Europe while the USA averaged 1458 USD/MT.
The prices of terephthalic acid averaged 6400-6500 RMB/MT in the Chinese domestic market during the said period. Hence, the strong downstream support amid raised feedstock quotation caused the price trends for terephthalic acid to surge globally.
Procurement Resource provides latest prices of Terephthalic 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.
About
Terephthalic Acid (TPA) is the most important aromatic chemical in the petrochemical industry. It is benzenedicarboxylic acid carrying carboxy groups and 1 and 4 positions of the carbon ring. TPA is used in the production of polyester PET (Polyethylene Terephthalate). PET owing to its highly versatile properties, is widely used in packaging industries; hence several million tons of TPA are produced annually to keep up with the demand.
Product Details
| Report Features | Details |
| Product Name | Terephthalic Acid |
| HS CODE | 291736 |
| CAS Number | 100-21-0 |
| Industrial Uses | Polyester Films/Fibres, Plasticizers, Pharmaceuticals, Paints |
| Chemical Formula | C8H4O4 |
| Synonyms | Benzene-1,4-dicarboxylic acid, para-Phthalic acid, TPA |
| Molecular Weight | 164.11 g/mol |
| Supplier Database | BP, China Petrochemical (Sinopec Group), Mitsubishi Chemical Holdings, Reliance Industries, Eastman |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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 Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Processes
- Production of Terephthalic Acid from p-Xylene
Purified Terephthalic Acid (PTA) is produced via the catalytic oxidation of p-Xylene. This process involves using a cobalt-manganese-bromide catalyst, which serves as the source of free radicals, acetic acid as solvent and compressed air as the oxidant. This reaction mixture is fed to a reactor where the p-xylene is converted to p-toluic acid which on further oxidation gives the desired terephthalic acid.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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