Phthalic acid market report: Global phthalic acid revenue will reach approximately 37.26 billion yuan in 2024

According to in-depth research and accurate statistics from YH Research, in 2024, the global phthalic acid market will show vigorous growth, with revenue reaching approximately 37.26 billion yuan. This figure clearly reflects the significant role of the phthalic acid market in the global chemical industry, highlighting its massive market scale and robust market demand. From the current market development perspective, this revenue scale indicates that phthalic acid has widespread and stable applications across numerous industrial sectors, laying a solid foundation for sustained market growth.

Looking ahead, the global phthalic acid market shows remarkable growth potential, with revenue expected to reach nearly 534.7 billion yuan by 2031. During the period from 2025 to 2031, the compound annual growth rate (CAGR) is projected to remain stable at 6.0%. This significant growth trend clearly indicates the broad future development prospects of the phthalic acid market, attracting the attention of numerous enterprises and investors, and signaling that the market will continue to expand in the coming years, bringing more development opportunities for industry participants.

2025 U.S. Tariff Measures: Reshaping Global Economic Governance Rules and Market Ripples
In 2025, the strategic restructuring of U.S. tariff measures is like a storm, profoundly reshaping global economic governance rules. This initiative is not an isolated event but will trigger a series of chain reactions globally, exerting multifaceted impacts on the phthalic acid market. This article will delve into the transmission mechanisms of tariff escalation pathways and international policy responses on corporate investment decisions, regional trade networks, and strategic material supply systems.

From the perspective of corporate investment decisions, tariff adjustments may lead to significant changes in production costs. For example, if the United States imposes high tariffs on terephthalic acid, companies reliant on the U.S. market will face rising cost pressures, which may prompt them to reassess their investment strategies and consider relocating production facilities to regions with lower tariffs or greater market growth potential. Take a phthalic acid production company planning to expand its production scale in the United States as an example. Tariff escalation may force it to suspend its investment plans and instead seek other investment destinations with greater cost advantages and market potential.

In terms of regional trade networks, tariff measures may alter the existing trade landscape. Countries may strengthen regional trade cooperation to reduce reliance on markets heavily impacted by tariffs. For strategic material supply systems, tariff uncertainties may lead to supply chain instability. As an important chemical raw material, the stability of phthalic acid supply is critical for downstream industries. Tariff adjustments may trigger supply chain restructuring, requiring companies to seek new suppliers or adjust procurement strategies to ensure production continuity.

Phthalic acid: Diverse applications and unique properties of chemical intermediates
Phthalic acid is a class of organic compounds formed by replacing two carboxyl groups (-COOH) in a benzene ring, with these compounds being isomers of one another. They play a crucial role in the chemical industry, widely used as chemical intermediates, particularly in the production of plastics, resins, and dyes.

In plastic production, phthalic acid is a key raw material for manufacturing polyethylene terephthalate (PET) and other important plastics. PET plastic has excellent transparency, strength, and chemical resistance, and is widely used in beverage bottles, food packaging, fibers, and other fields. Take The Coca-Cola Company as an example: its beverage bottles are primarily made from PET plastic, and as one of the core raw materials for PET plastic, the quality and supply stability of phthalic acid directly impact the packaging quality and production efficiency of Coca-Cola products. In resin production, phthalic acid is used to manufacture unsaturated polyester resins, which exhibit excellent corrosion resistance and mechanical properties and are commonly used in the production of fiberglass products, coatings, and more. In dye production, phthalic acid can be used to synthesize various dye intermediates, providing a wide range of color options for the textile and dyeing industries.

Global Market Landscape: Key Players and Regional Market Insights
Major global phthalic acid players include SABIC, Eastman Chemical, Indorama Ventures, Lotte Chemical, and Mitsubishi Gas Chemical. These companies hold significant positions in the global phthalic acid market due to their advanced technology, large-scale production capacity, and extensive market channels.

From a regional market perspective, this article focuses on several representative countries and regions. The North American market covers the United States, Canada, and Mexico. This region has a developed economy and a mature chemical industry, with high and stable demand for phthalic acid. The European market includes Germany, France, the United Kingdom, Russia, Italy, and other European countries. Europe has advantages in chemical technology R&D and high-end product production, with high quality requirements for phthalic acid. The Asia-Pacific market comprises countries and regions such as China, Japan, South Korea, India, Southeast Asia, and Australia. The Asia-Pacific region is a key area for global phthalic acid production and consumption, with China being the world's largest producer and consumer of phthalic acid. Its market size and growth rate have a significant impact on the global market. The South American market is represented by countries such as Brazil. As the South American region's economy develops, demand for phthalic acid is gradually increasing. The Middle East and Africa region currently has a relatively small market size but holds significant growth potential.

Product Types and Applications: Precisely Matching Industry Needs
By product type, phthalic acid includes orthophthalic acid, isophthalic acid, and terephthalic acid. Different types of phthalic acid have distinct chemical properties and application areas. Ortho-phthalic acid is commonly used in the production of plasticizers, widely applied in plastic products to enhance their flexibility and moldability. Meta-phthalic acid plays a crucial role in the manufacture of unsaturated polyester resins and alkyd resins. Para-phthalic acid is the primary raw material for producing PET plastic, with extensive applications in plastics, fibers, and other fields.

By application, phthalic acid is primarily used in plastics, textiles, coatings and paints, and other fields. In the plastics industry, as mentioned earlier, phthalic acid is a key raw material for producing various types of plastics. In the textile industry, phthalic acid is used to produce polyester fibers, which have advantages such as high strength, good abrasion resistance, and strong wrinkle resistance, and are widely used in clothing, home textiles, and other fields. In the coatings and paints sector, phthalic acid is used to manufacture high-performance coatings and paints, enhancing their corrosion resistance and durability.

Major global producers of phthalic acid include SK Chemicals, LG Chem, Reliance Industries, Aekyung Petrochemical, UPL, Thirumalai Chemicals, IG Petrochemicals, South Asia Plastics, Petkim Petrokimya, Jiaxing Petrochemical, Hainan Yisheng Petrochemical, and Zhejiang Hengyi, among others. These companies play a significant role in various product types and application areas, collectively driving the development of the global phthalic acid market.

In summary, the global phthalic acid market, while currently in a favorable development phase, faces uncertainty due to U.S. tariff measures by 2025. However, it also holds promising future development prospects. Market participants should closely monitor market dynamics, seize market opportunities, actively address challenges, and strive for sustainable development.