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Phthalic Anhydride Prices Overview

Market Overview

Quarterly Update on Global Phthalic Anhydride Market

Asia

As several plants that were earlier under turnaround resumed production,

supply for Phthalic Anhydride (PA) considerably improved with respect to the

previous quarter. The domestic demand in China took a positive turn by the

end of September, while exports from the country viably reduced as

manufacturers were keen towards catering to the local downstream demand.

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Phthalic Anhydride Prices Overview

Traders expressed optimism over the mega infrastructure campaign organized

by the Chinese government to revive the looming construction industry, which

is expected to contribute well for surging the demand for PA by the end next

quarter. As the demand fundamentals were steady, around 1000 tonnes of the

material from Northeast Asia was sold to China. PA cargoes from the Northeast

Asia were sold at USD 600 per tonne in the late-September to early October

period. With the permanent shutdown of Korea’s LG Chemical PA unit in

August, the region suffered a loss of 60 tonnes per year production capacity

that in long run is anticipated to create a considerate demand-supply gap in

Asia.

North America

Supply of Phthalic Anhydride in the US remained sufficient with respect to the

regional demand. Although supply of feedstock Orth-Xylene was disrupted by

the maintenance at the key trade route of Illinois river which started in July and

is expected to last till late October. This did not hamper the production of PA

immediately as majority of manufacturers had already stockpiled enough

cargoes of feedstock till the year end. Demand from the paint and coatings

segment appreciably picked up with increase in number of remodeling and

construction projects during the indefinite lockdown period. However, offtakes

from the automotive industry remained dampened amid consistent increment

in unemployment rate and reduced expenditure on consumer goods.

Europe

Lockdown induced in the second quarter continued to weigh over the market

fundamentals of the European Phthalic Anhydride till mid of July due to high

inventories of PA. In August, the condition marginally improved with a long

maintenance turnaround in a large-scale PA plant. By the end of September,

regional Phthalic Anhydride market witnessed much needed revival, supported

the strong downstream demand form the UPR segment. After the slow crawl in

July-August period, PA demand recovery was fast pace, far above the market

expectations.

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Phthalic Anhydride Prices Overview

How we can help

ChemAnalyst addresses the key problematic areas and risks associated with

chemical and petrochemical business globally and enables the decision-maker

to make smart choices. It identifies and analyses factors such as geopolitical

risks, environmental risks, raw material availability, supply chain functionality,

disruption in technology and so on. It targets market volatility and ensures

clients navigate through challenges and pitfalls in an efficient and agile

manner. Timeliness and accuracy of data has been the core competency of

ChemAnalyst, benefitting domestic as well as global industry in tuning in to the

real-time data points to execute multi-billion-dollar projects globally.

Methodology

ChemAnalyst gathers information through primary research surveys conducted

with various Phthalic Anhydride manufacturers, spread across the domestic

and international market, suppliers and dealers/distributors to gain insights

into value-chains and demand-supply scenario to assess the market

situation. Thorough study of company’s annual reports and secondary sources

such as exhaustive search on credible paid databases, including our internal

database is done to verify the information. All the collected information is

analyzed, evaluated and presented in chronological order to depict a

meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and

analyzes various aspects of the Global Phthalic Anhydride market. The team

analyzes various industrial segments, strategic viewpoints and provides an

analysis of the industry’s performance in the long run. This would enable our

clients in efficiently plan their future investments, mitigate risk, understand the

cost dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global

supply chains and shift in demand patterns with change in buying behavior of

consumers across the globe.

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Phthalic Anhydride Prices Overview

Several ongoing development projects across industries are tracked,

followed by the details of major projects in the development stage, which can

positively or negatively influence Global Phthalic Anhydride market.

Pricing is captured through exhaustive primary interviews with domestic and

international manufacturers, traders and importers and customers on daily,

weekly, monthly and yearly basis.

Finally, region-specific markets for Phthalic Anhydride are analyzed

and region-wise demand pattern is tracked.

About

Phthalic Anhydride is a white crystalline organic chemical compound, partially

soluble in hot water and completely soluble in carbon disulphide and alcohol. It

is highly reactive with strong oxidants and shows a hazardous reaction when

heated with sodium nitrate or copper oxide. For commercial usage, Phthalic

Anhydride is of the purity range between 99.8-99.9% and is available as flakes

as well as in molted form. It mainly utilized for producing unsaturated polyester

resins, phthalate plasticizers and alkyd resins. Plasticizers hold maximum

share of the Phthalic Anhydride demand as of 2020, followed by unsaturated

polyester resins (UPR). Major end-user industries of Phthalic Anhydride

include machinery, construction, marine, transportation, dyes and pigments

etc. Phthalic Anhydride was conventionally manufactured by the oxidation of

Naphthalene in highly concentrated Sulphuric Acid, under the presence of

Mercury Sulphate as a catalyst. At present, the process has been modified,

and the production of Phthalic Anhydride is achieved through the oxidation of

Naphthalene in the vapor phase using vanadium oxide as a catalyst.