ASEAN: Toluene Market 2024

Toluene Market Size in ASEAN

In 2021, the ASEAN toluene market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a mild decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Toluene Production in ASEAN

In value terms, toluene production rose to $X in 2021 estimated in export price. In general, production showed a slight downturn. The growth pace was the most rapid in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Toluene Exports

Exports in ASEAN

In 2021, the amount of toluene exported in ASEAN shrank to X tons, waning by -11.3% on 2020. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% 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 -31.0% against 2017 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 40%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, toluene exports soared to $X in 2021. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Thailand (X tons) represented the key exporter of toluene, making up 54% of total exports. Singapore (X tons) held a 33% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (9.7%). The Philippines (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +13.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest toluene supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), together comprising 97% of total exports.

Malaysia, with a CAGR of +8.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 51% against the previous year. Overall, the export price, however, saw a noticeable decrease. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and the Philippines ($X per ton), while Malaysia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (-4.2%), while the other leaders experienced a decline in the export price figures.

Toluene Imports

Imports in ASEAN

In 2021, supplies from abroad of toluene decreased by -11.3% to X tons for the first time since 2014, thus ending a six-year rising trend. Total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 32% against the previous year. The volume of import peaked at X tons in 2020, and then fell in the following year.

In value terms, toluene imports skyrocketed to $X in 2021. Over the period under review, imports showed a mild downturn. The most prominent rate of growth was recorded in 2018 with an increase of 27%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 74% of total imports in 2021. Singapore (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (7.9%). The Philippines (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +10.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 87% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +3.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 43% against the previous year. Over the period under review, the import price, however, showed a perceptible curtailment. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Vietnam ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-4.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform