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Saudi ArabiaIn Q1 2025, Isophthalic Acid (PIA) prices experienced notable declines across various regions. In East Asia, Isophthalic Acid prices dropped sharply, with South Korea seeing a 10.55% decrease to $974/MT, Taiwan experiencing a 6.97% decline to $967/MT, and Japan falling by 6.02% to $1061/MT. These price drops were largely driven by a combination of weakening demand and stable supply levels, which alleviated some of the upward pressure seen in previous quarters.
In Spain, Isophthalic Acid prices also saw a significant decrease, falling by 11.9% to $1103/MT. This reduction was attributed to a slowdown in demand, particularly from key sectors such as automotive and packaging, alongside improving supply conditions. These price declines had a substantial effect on importing nations like Brazil, the USA, Indonesia, Saudi Arabia, and India, which are heavily reliant on PIA imports.
With lower procurement costs from both East Asia and Europe, these regions saw a reduction in production expenses for their downstream industries, including automotive, textile, and packaging. However, while lower prices may ease some cost pressures, manufacturers may still face challenges in recovering margins, and any potential economic growth in these sectors could be influenced by broader market conditions.
In Q4 2024, Isophthalic Acid (PIA) prices displayed mixed trends across regions. In East Asia, prices experienced notable declines. South Korea saw a 6.76% drop, with prices falling to $1089/MT, as demand weakened, and supply conditions improved. Similarly, in Taiwan, prices plunged by 11.35%, reaching $1039/MT, driven by reduced demand and an oversupply of material in the market.
In Japan, prices decreased by 3.43%, settling at $1129/MT, as demand from major sectors like automotive and textiles softened. In contrast, Spain witnessed a price increase of 2.05%, rising to $1243/MT. This uptick was primarily due to a more balanced supply-demand situation in Europe, bolstered by steady demand from industries such as automotive and packaging.
Additionally, disruptions in supply chains and rising production costs in Europe contributed to the price rise. These divergent trends in East Asia and Europe significantly impacted importing countries like Brazil, the USA, Indonesia, Saudi Arabia, and India. For regions heavily reliant on PIA imports, the price drops from East Asia helped reduce procurement costs, providing some relief.
However, the price rise in Spain led to higher costs for imports from Europe increasing production expenses for downstream industries in automotive, textile, and packaging. As a result, manufacturers in these countries faced heightened cost pressures, which could dampen growth in the affected sectors soon.
In Q3 2024, Isophthalic Acid (PIA) prices experienced a notable increase across key regions, particularly in East Asia and Europe, driven by supply constraints, maintenance shutdowns, and rising demand from industries such as automotive and textiles. In South Korea, prices rose by 2.19%, reaching $1168/MT, supported by tightening supply and growing consumption in key sectors.
Taiwan saw the most significant increase, with prices climbing by 7.03%, reaching $1172/MT, driven by robust demand and restricted supply due to ongoing maintenance activities. Japan also experienced a modest price increase of 1.29%, reaching $1174/MT, as supply conditions remained tight and demand from industrial sectors held strong.
In Spain, prices rose by 3.83%, reaching $1129/MT, as supply constraints and stronger demand from industries such as automotive and textiles fuelled the surge. Despite a more stable supply-demand balance in Spain, the rise in prices reflected tightening conditions in the broader European market.
This price surge had a significant impact on importing nations such as Brazil, the USA, Indonesia, Saudi Arabia, and India, all of which depend heavily on imports for their PIA supply. Higher prices translated into increased procurement costs for these countries, raising production expenses for downstream industries, including automotive, textile, and packaging.
As a result, manufacturers in these regions faced narrower margins, potentially passing on these higher costs to consumers. This could slow economic growth in the affected sectors as they navigated the rising cost pressures.
In Q2 2024, Isophthalic Acid (PIA) prices continued to show positive momentum in several regions, with notable increases in South Korea, Taiwan, and Japan. In South Korea, prices rose by 2.33%, reaching $1143/MT, driven by stronger demand across key sectors such as packaging, automotive, and textiles, as economic activity regained momentum following seasonal slowdowns.
Similarly, in Taiwan, prices increased by 1.86%, rising to $1095/MT, supported by a rebound in manufacturing and industrial production. In Japan, prices saw a more significant rise of 4.04%, reaching $1059/MT, largely fuelled by demand from the automotive, electronics, and textile industries. In Spain, prices remained largely stable, with a modest increase of 0.94%, reaching $1187/MT.
This stabilization was a result of balanced supply and demand conditions, despite ongoing economic challenges. The steady demand from key industries, coupled with more favourable feedstock pricing—particularly from m-xylene—helped support price stability. The combination of these factors allowed the market to recover from the previous quarter’s downturn, contributing to moderate price increases in East Asia and Europe.
In Q1 2024, Isophthalic Acid (PIA) prices experienced a downward trend across various regions, reflecting an oversupply of the product and weaker demand in key markets. In South Korea, prices dropped by 6.76%, settling at $1117/MT. This decline was primarily driven by continued high production levels and reduced consumption in industries such as automotive and packaging, which dampened demand.
Similarly, Taiwan saw a price decrease of 7.80%, with prices falling to $1075/MT. The reduction was attributed to slower demand from downstream sectors and a stable production environment, which did little to stimulate market activity. In Japan, prices also decreased by 7.78%, reaching $1114/MT. This drop was a result of high production levels and lacklustre demand from key industries, further compounded by reduced activity in manufacturing sectors.
In Spain, Isophthalic Acid prices decreased by 4.93%, reaching $1176/MT. The slowdown in economic growth and weaker industrial performance, particularly in the automotive and construction sectors, put downward pressure on prices. The overall market was further constrained by stable feedstock costs, especially from m-xylene, which alleviated some of the production cost pressures but did not significantly boost demand.
This combination of excess supply and tepid demand led to price declines not only in South Korea, Taiwan, Japan, and Spain but also in importing countries such as India, Brazil, the USA, Indonesia, and Saudi Arabia, where the weak demand from end-user industries exacerbated the overall price decrease.
In Q1 2025, Isophthalic Acid (PIA) prices in India experienced a significant drop, reflecting the overall sluggish market conditions. Prices for CIF Nhava Sheva (South Korea) fell by 9.36%, settling at $1085/MT. This decrease was driven by weak demand from critical downstream industries and an oversupply in the market.
Ex-Kandla Isophthalic Acid (PIA) prices also dropped by 14.48%, reaching $1189/MT, primarily due to reduced consumption from sectors such as automotive and packaging, which led to an increase in inventory levels and reduced import needs. As a result, market sentiment remained cautious, with minimal price fluctuations amid ongoing demand pressures.
In Q4 2024, PIA prices in India also saw a decline. CIF Nhava Sheva (South Korea) prices decreased by 7.86%, reaching $1197/MT, as global demand remained weak and export markets faced continued challenges. Ex-Kandla Isophthalic Acid (PIA) prices experienced a smaller drop of 5.68%, settling at $1390/MT, impacted by slower domestic consumption and the persistence of market oversupply.
The price drop was further alleviated by better shipping availability and a lack of significant supply chain disruptions, which helped reduce procurement costs. However, the overall market sentiment remained subdued due to ongoing weak demand.
In Q3 2024, PIA prices in India saw an uptick. CIF Nhava Sheva (South Korea) prices increased by 5.08%, reaching $1299/MT, as global demand recovered in key export markets, while supply constraints drove prices higher. Ex-Kandla prices also rose by 5.35%, reaching $1474/MT, supported by stronger consumption from industries like automotive and packaging, as well as a tightening supply-demand balance. Additionally, shipping delays and rising feedstock costs added upward pressure on prices, further driving the market’s recovery.
In Q2 2024, PIA prices in India continued their upward trajectory, reflecting tighter market conditions. CIF Nhava Sheva (South Korea) prices rose by 2.99%, reaching $1236/MT, driven by higher feedstock prices and increased freight costs, which raised production expenses.
Similarly, Ex-Kandla prices climbed by 3.01%, reaching $1399/MT, driven by strong domestic demand, particularly from the packaging and construction sectors, and rising import costs. The combination of supply chain delays and global market tightness further contributed to the increase in prices.
In Q1 2024, PIA prices in India experienced a slight decline. CIF Nhava Sheva (South Korea) prices fell by 2.43%, dropping to $1200/MT, due to lower operational costs in South Korea and a slight reduction in global demand. Meanwhile, Ex-Kandla prices saw a marginal decrease of 0.90%, reaching $1358/MT, influenced by weaker domestic consumption in India.
Despite the price dip, import costs remained relatively high, driven by currency fluctuations and regional shipping disruptions, keeping the market slightly constrained.
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Molecular Weight[g/mol]
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HS Code
Molecular Formula
Isophthalic Acid (PIA) is a versatile solvent and chemical intermediate used in the production of gasoline additives, polymers, and coatings. It is primarily produced from feedstocks such as isobutylene (isobutene) and water through catalytic processes. PIA is valued for its high solubility and low volatility, making it ideal for use in industrial and chemical applications.
Packaging Type
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Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| General Property | Typical Value, Units |
| Appearance | White Crystalline powder |
| Bulk Density | 0.8 g/mL (49.9 lb/ft3) |
| Melting Point | 345-348 °C (653-658 °F) |
| Degree of solubility in water | 0.13 g/l 25 °C |
| Assay (NT) | min. 99.0% |
| Flash Point | 196.749 `C |
Applications
Isophthalic Acid (PIA) is a versatile aromatic dicarboxylic acid widely used across industries due to its chemical properties and compatibility with various applications. It serves as a key component in the production of polyethylene terephthalate (PET) for beverage bottles, coatings, and unsaturated polyester resins (UPR). Additionally, PIA enhances thermal stability and mechanical strength in polymers, making it essential for industrial materials, automotive parts, and construction applications. Its role in the synthesis of specialty chemicals and performance coatings further underscores its industrial significance.
The pricing of Isophthalic Acid (PIA) is influenced by the cost of its primary feedstock, paraxylene, as well as crude oil price trends. Other factors include production capacities, supply-demand dynamics in industries like PET, coatings, and resins, and logistical costs. Additionally, global economic conditions, geopolitical tensions, and trade policies can impact PIA pricing.
Feedstock availability, particularly paraxylene, directly impacts Isophthalic Acid pricing. Fluctuations in paraxylene supply due to refinery disruptions, geopolitical events, or seasonal demand changes can cause price volatility. When feedstock supplies are limited, PIA production costs rise, leading to higher prices. Conversely, stable or surplus feedstock availability typically results in lower PIA prices.
Regional price variations for Isophthalic Acid arise due to differences in raw material availability, production capacities, and demand levels. Asia, a leading producer of PIA, often offers competitive pricing, whereas regions with limited production, such as Europe or North America, may experience higher prices. Procurement heads should evaluate regional market trends, prioritize sourcing from cost-efficient regions, and optimize supply chain logistics to manage expenses effectively.
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