Isophthalic Acid Price Trend and Forecast

North America

In the US, Isophthalic Acid prices dropped sharply in the last quarter of 2022 owing to weak demand from downstream PET and soft prices of the imports reaching US shores amid declining freight charges. Import availability has been ample in the US ports as freight charges reached normalcy in Q4 2022 and continue to remain soft in January 2023. Production rates in the Asian Pacific region have been steady, resulting in stable exports to the US. Meanwhile, downstream demand from Polyethylene Terephthalate and other industries has been weak amid off-season dullness for downstream PET. 


Asia-Pacific

Isophthalic Acid prices have continued their downward trend in Q4 2022 owing to sluggish demand fundamentals amid firm cost pressure from feedstock m-Xylene. Market participants have reported firm availability of inventories at the ports, and logistics have improved, resulting in increased material availability in the domestic market. Downstream demand of Polyethylene Terephthalate and other industries has been weak amid holidays. Traders have reported soft buying sentiment in the market, and there was a limited number of queries from end-use enterprises.

Europe

All major European markets reported a sharp decline in Isophthalic acid prices in the last three months of 2022 on the back of sluggish consumer sentiment and ample material availability in the European markets. Imports remained firm on the European shores from Asia as freight charges dropped drastically and reached pre-covid normalcy. Asian manufacturers were further prompted to export Isophthalic acid due to limited consumption rates in the local markets. Meanwhile, demand from PET manufacturers remained soft owing to off-season dullness coupled with recessionary fears and high inflation rates.

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