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

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

In 2021, the Asia-Pacific benzol, toluol and xylol market was finally on the rise to reach $X after four years of decline. In general, consumption, however, saw 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 Asia-Pacific

In value terms, benzol, toluol and xylol production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible decline. The pace of growth was the most pronounced in 2014 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

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

Exports in Asia-Pacific

In 2021, the amount of benzol (benzene), toluol (toluene) and xylol (xylenes) exported in Asia-Pacific reduced to X tons, falling by -9.1% compared with 2020. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 82%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, benzol, toluol and xylol exports surged to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -14.8% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 56%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Japan represented the key exporting country with an export of about X tons, which recorded 57% of total exports. South Korea (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (9.5%) and Thailand (6%). The Philippines (X tons) held 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%) and Thailand (+8.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +18.5% from 2012-2021. While the share of Japan (+5.5 p.p.) and Taiwan (Chinese) (+4.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-1.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest benzol, toluol and xylol supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was held by South Korea ($X), with a 23% share of total exports. It was followed by Taiwan (Chinese), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms 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 Taiwan (Chinese) (+11.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, jumping by 46% against the previous year. In general, the export price, however, showed a abrupt contraction. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and South Korea ($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-Pacific

In 2021, approx. X tons of benzol (benzene), toluol (toluene) and xylol (xylenes) were imported in Asia-Pacific; dropping by -7.3% compared with the previous year's figure. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, benzol, toluol and xylol imports soared to $X in 2021. Over the period under review, imports continue to indicate a abrupt slump. 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, China (X tons) and South Korea (X tons) represented the main importers of benzol (benzene), toluol (toluene) and xylol (xylenes) in Asia-Pacific, together recording approx. 72% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), comprising a 21% share of total imports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +10.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest benzol, toluol and xylol importing markets in Asia-Pacific were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising 93% of total imports.

China, with a CAGR of +4.5%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Asia-Pacific amounted to $X per ton, surging by 51% against the previous year. Over the period under review, the import price, however, showed a drastic downturn. 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 ($X per ton) and China ($X per ton), while South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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