Belgium: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Belgium

In 2021, the Belgian cyclic hydrocarbons market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a prominent increase. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Cyclic Hydrocarbons Production in Belgium

In value terms, cyclic hydrocarbons production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. Cyclic hydrocarbons production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports from Belgium

In 2021, shipments abroad of other cyclic hydrocarbons increased by 13% to X tons, rising for the third year in a row after five years of decline. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 191% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. Over the period under review, exports posted a pronounced expansion. The growth pace was the most rapid in 2020 when exports increased by 76%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons), Germany (X tons) and Canada (X tons) were the main destinations of cyclic hydrocarbons exports from Belgium, with a combined 57% share of total exports. China, the UK, France, Indonesia, Spain, Japan, India, the United States, Italy and Nigeria lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +100.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for other cyclic hydrocarbons exports from Belgium, comprising 35% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by China, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.8% per year) and China (+93.2% per year).

Export Prices by Country

In 2021, the average cyclic hydrocarbons export price amounted to $X per ton, surging by 49% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclic Hydrocarbons Imports

Imports into Belgium

After two years of growth, purchases abroad of other cyclic hydrocarbons decreased by -8.7% to X tons in 2021. Overall, imports, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2013 with an increase of 221% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, cyclic hydrocarbons imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw buoyant growth. The growth pace was the most rapid in 2013 with an increase of 142% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main suppliers of cyclic hydrocarbons imports to Belgium, together comprising 92% of total imports. These countries were followed by the United States, China, the Czech Republic and the Netherlands, which together accounted for a further 7.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +112.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cyclic hydrocarbons suppliers to Belgium were Germany ($X), Spain ($X) and the United States ($X), together comprising 88% of total imports. These countries were followed by France, China, the Netherlands and the Czech Republic, which together accounted for a further 9.7%.

Among the main suppliers, the Czech Republic, with a CAGR of +80.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cyclic hydrocarbons import price stood at $X per ton in 2021, growing by 103% against the previous year. Overall, the import price posted a temperate expansion. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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