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

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

In 2021, after four years of decline, there was significant growth in the Asian benzol, toluol and xylol market, when its value increased by 25% to $X. Overall, consumption, however, showed a abrupt downturn. 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 Asia

In value terms, benzol, toluol and xylol production rose significantly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable downturn. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports in Asia

Benzol, toluol and xylol exports shrank to X tons in 2021, with a decrease of -6.5% on 2020 figures. In general, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2014 when exports increased by 63%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, benzol, toluol and xylol exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 40% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan was the key exporting country with an export of around X tons, which resulted at 47% of total exports. South Korea (X tons) ranks second in terms of the total exports with an 18% share, followed by Saudi Arabia (15%), Taiwan (Chinese) (7.8%) and Thailand (4.9%). The Philippines (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to benzol, toluol and xylol exports from Japan stood at +12.2%. At the same time, Taiwan (Chinese) (+18.5%), the Philippines (+11.8%), South Korea (+11.7%), Thailand (+8.2%) and Saudi Arabia (+5.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +18.5% from 2012-2021. Japan (+8 p.p.), Taiwan (Chinese) (+3.9 p.p.) and South Korea (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -7.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest benzol, toluol and xylol supplier in Asia, comprising 44% of total exports. The second position in the ranking was held by South Korea ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with an 18% share.

From 2012 to 2021, the average annual growth rate of value in Japan totaled +5.5%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+5.6% per year) and Saudi Arabia (-0.1% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, picking up by 32% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and Thailand ($X per ton), while Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were 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 Asia

In 2021, overseas purchases of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -4.1% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 11%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, benzol, toluol and xylol imports surged to $X in 2021. Overall, imports recorded a abrupt curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons) and South Korea (X tons) were the major importers of benzol (benzene), toluol (toluene) and xylol (xylenes) in 2021, reaching near 37% and 30% of total imports, respectively. It was distantly followed by Taiwan (Chinese) (X tons), constituting a 20% share of total imports. The following importers - Turkey (X tons), the United Arab Emirates (X tons) and India (X tons) - together made up 7.9% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +57.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, with a combined 87% share of total imports. These countries were followed by Turkey, the United Arab Emirates and India, which together accounted for a further 8%.

Turkey, with a CAGR of +49.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Asia stood at $X per ton in 2021, surging by 51% against the previous year. Overall, the import price, however, showed a abrupt slump. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in India ($X per ton) and Turkey ($X per ton), while the United Arab Emirates ($X per ton) and South Korea ($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 United Arab Emirates (-3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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