ASEAN: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2024

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in ASEAN

After four years of decline, the ASEAN benzol, toluol and xylol market increased by 16% to $X in 2021. Over the period under review, consumption, however, continues to indicate a abrupt shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in ASEAN

In value terms, benzol, toluol and xylol production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 18%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes)

Exports in ASEAN

In 2021, shipments abroad of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -18.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 58%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then reduced rapidly in the following year.

In value terms, benzol, toluol and xylol exports surged to $X in 2021. Over the period under review, exports, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2013 with an increase of 71% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the main exporter of benzol (benzene), toluol (toluene) and xylol (xylenes) in ASEAN, with the volume of exports finishing at X tons, which was near 56% of total exports in 2021. The Philippines (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (11%) and Singapore (4.6%). Indonesia (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to benzol, toluol and xylol exports from Thailand stood at +8.2%. At the same time, Vietnam (+13.4%), the Philippines (+11.8%), Indonesia (+11.3%) and Malaysia (+3.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +13.4% from 2012-2021. Singapore experienced a relatively flat trend pattern. While the share of Indonesia (+4.5 p.p.), the Philippines (+4.4 p.p.) and Vietnam (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-1.6 p.p.), Thailand (-4.2 p.p.) and Singapore (-6.3 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest benzol, toluol and xylol supplier in ASEAN, comprising 60% of total exports. The second position in the ranking was held by the Philippines ($X), with a 23% share of total exports. It was followed by Vietnam, with a 7.3% share.

In Thailand, benzol, toluol and xylol exports increased at an average annual rate of +5.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Philippines (+5.2% per year) and Vietnam (+4.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, increasing by 57% against the previous year. Overall, the export price, however, recorded a perceptible descent. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-2.9%), while the other leaders experienced a decline in the export price figures.

Imports of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes)

Imports in ASEAN

In 2021, overseas purchases of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -37.6% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 87% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, benzol, toluol and xylol imports fell significantly to $X in 2021. In general, imports faced a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 132%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X tons), Vietnam (X tons) and the Philippines (X tons) was the main importer of benzol (benzene), toluol (toluene) and xylol (xylenes) in ASEAN, comprising 69% of total import. It was distantly followed by Malaysia (X tons), Indonesia (X tons) and Brunei Darussalam (X tons), together constituting a 29% share of total imports. Cambodia (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +135.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest benzol, toluol and xylol importing markets in ASEAN were Singapore ($X), Vietnam ($X) and the Philippines ($X), with a combined 64% share of total imports.

Among the main importing countries, the Philippines, with a CAGR of +110.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 25% against the previous year. In general, the import price, however, showed a abrupt downturn. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform