ASEAN: P-Xylene Market 2024

P-Xylene Market Size in ASEAN

The ASEAN p-xylene market expanded markedly to $X in 2021, picking up by 12% against the previous year. In general, consumption, however, posted a noticeable increase. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the near future.

P-Xylene Production in ASEAN

In value terms, p-xylene production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced increase. The growth pace was the most rapid in 2018 with an increase of 46%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

P-Xylene Exports

Exports in ASEAN

In 2021, shipments abroad of p-xylene decreased by -3.5% to X tons, falling for the third year in a row after three years of growth. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -34.9% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 34% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, p-xylene exports surged to $X in 2021. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 51%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Singapore (X tons) was the major exporter of p-xylene, making up 54% of total exports. Thailand (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together held approx. 45% share of total exports.

Singapore was also the fastest-growing in terms of the p-xylene exports, with a CAGR of +5.8% from 2012 to 2021. At the same time, Malaysia (+3.2%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. Singapore (+9.9 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -8.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest p-xylene supplier in ASEAN, comprising 53% of total exports. The second position in the ranking was held by Thailand ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore was relatively modest. In the other countries, the average annual rates were as follows: Thailand (-5.7% per year) and Malaysia (-3.3% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 43% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Malaysia ($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 (-5.5%), while the other leaders experienced a decline in the export price figures.

P-Xylene Imports

Imports in ASEAN

In 2021, overseas purchases of p-xylene decreased by -6.9% to X tons, falling for the third year in a row after two years of growth. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 49% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, p-xylene imports soared to $X in 2021. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 64% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia was the major importer of p-xylene in ASEAN, with the volume of imports amounting to X tons, which was near 59% of total imports in 2021. Malaysia (X tons) took the second position in the ranking, distantly followed by Thailand (X tons). All these countries together held near 41% share of total imports.

From 2012 to 2021, the biggest increases were in Malaysia (with a CAGR of +4.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest p-xylene importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and Thailand ($X), together comprising 100% of total imports.

Malaysia, with a CAGR of -2.3%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 42% against the previous year. Over the period under review, the import price, however, saw a deep slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia ($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 (-5.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform