Belgium: Benzene Market 2024

Benzene Market Size in Belgium

The Belgian benzene market declined remarkably to $X in 2022, falling by -24.4% against the previous year. In general, consumption recorded a pronounced decline. Benzene consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Benzene Production in Belgium

In value terms, benzene production dropped notably to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 135% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Benzene Exports

Exports from Belgium

Benzene exports from Belgium declined remarkably to X tons in 2022, waning by -24% on the previous year. In general, exports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 110%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, benzene exports dropped notably to $X in 2022. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 167%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), the United States (X tons) and Germany (X tons) were the main destinations of benzene exports from Belgium, with a combined 93% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +5.4%), while shipments for the other leaders experienced a decline.

In value terms, the Netherlands ($X), the United States ($X) and Germany ($X) constituted the largest markets for benzene exported from Belgium worldwide, with a combined 89% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +1.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average benzene export price amounted to $X per ton, growing by 5.5% against the previous year. In general, the export price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of 27%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 the UK (+0.6%), while the prices for the other major destinations experienced more modest paces of growth.

Benzene Imports

Imports into Belgium

In 2022, the amount of benzene imported into Belgium declined sharply to X tons, with a decrease of -24% against the previous year's figure. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 84% against the previous year. Imports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, benzene imports reduced to $X in 2022. Over the period under review, imports showed a slight decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 195% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and India (X tons) were the main suppliers of benzene imports to Belgium, together comprising 95% of total imports. Thailand lagged somewhat behind, comprising a further 2%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +37.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and India ($X) appeared to be the largest benzene suppliers to Belgium, with a combined 96% share of total imports. These countries were followed by Thailand, which accounted for a further 1.9%.

Thailand, with a CAGR of +57.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average benzene import price stood at $X per ton in 2022, rising by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 62% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the Netherlands ($X per ton), while the price for Germany ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :