MOSCOW (MRC) -- Turkey's imports of paraxylene (PX) increased by 116% on year to 12,938 mt in August, compared with 5,985 mt in the same month last year, the latest Turkstat data showed, reported Apic-online.
The August total decreased by nearly 6% from 13,721 mt in July.
The increase on the year was largely due to volumes inflow of 7,739 mt from Israel in August, whereas it had shipped none in the same month last year. Israel also retained the leading position among exporters in August, although it was largely unchanged from 7,732 mt in July.
Turkey's other PX supplier, the Netherlands, however had a monthly decrease in exports of around 13% to 5,199 mt in August, compared to 5,989 mt in July. August exports were also down from 5,984 mt twelve months ago.
Turkey is a net importer of xylenes, with negligible export volumes across all xylene isomers throughout the year, according to Turkstat.
We remind that, as MRC informed previously, global PX demand is estimated to exceed 62.98 mln tons at a CAGR of 7% from 2015 to 2022, as per Grand View Research, Inc. Growing utilization of purified terephthalic acid (PTA) for polyester production, particularly in Asia Pacific is expected to fuel growth in paraxylene market over the forecast period. The global PX market is anticipated to reach USD66.93 bln by 2022 owing to increasing demand for fiber and polyester resin in numerous end-use applications across various industries. Growing utilization of purified terephthalic acid (PTA) for polyester production, particularly in Asia Pacific is expected to fuel growth in paraxylene market over the forecast period.