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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