Austria: Benzene Market 2024

Benzene Market Size in Austria

The Austrian benzene market reduced to $X in 2022, waning by -4.9% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Benzene Production in Austria

In value terms, benzene production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 19% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Benzene Exports

Exports from Austria

In 2022, after two years of decline, there was significant growth in shipments abroad of benzene, when their volume increased by 589% to X kg. In general, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 1,300%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, benzene exports contracted significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of 1,415%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Moldova (X kg), North Macedonia (X kg) and Kazakhstan (X kg) were the main destinations of benzene exports from Austria, together accounting for 89% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by North Macedonia (with a CAGR of +5.2%), while the other leaders experienced mixed trend patterns.

In value terms, Kazakhstan ($X) emerged as the key foreign market for benzene exports from Austria, comprising 35% of total exports. The second position in the ranking was held by Turkey ($X), with a 17% share of total exports. It was followed by Moldova, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kazakhstan stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-34.0% per year) and Moldova (+11.0% per year).

Export Prices by Country

The average benzene export price stood at $X per ton in 2022, waning by -93.3% against the previous year. Overall, the export price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 1,831%. As a result, the export price reached the peak level of $X per ton, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Benzene Imports

Imports into Austria

In 2022, approx. X kg of benzene were imported into Austria; falling by -86.7% against 2021 figures. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 1,802% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, benzene imports reduced rapidly to $X in 2022. In general, imports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2014 when imports increased by 738%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X kg) constituted the largest supplier of benzene to Austria, with a 69% share of total imports. Moreover, benzene imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X kg), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +13.0%.

In value terms, Germany ($X) constituted the largest supplier of benzene to Austria, comprising 87% of total imports. The second position in the ranking was taken by Belgium ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +16.0%.

Import Prices by Country

In 2022, the average benzene import price amounted to $X per ton, rising by 35% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 564%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Belgium totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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