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
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.
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.
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.
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.
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 Name||Terephthalic Acid|
|Industrial Uses||Polyester Films/Fibres, Plasticizers, Pharmaceuticals, Paints|
|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.
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.
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).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.