China: Toluene Market 2025

Toluene Market Size in China

The Chinese toluene market reduced modestly to $X in 2021, with a decrease of -4.8% against the previous year. Overall, consumption showed a noticeable curtailment. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Toluene Production in China

In value terms, toluene production rose sharply to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 52%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Toluene Exports

Exports from China

In 2021, shipments abroad of toluene increased by 115% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2018 with an increase of 1,636%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, toluene exports surged to $X in 2021. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2018 when exports increased by 1,209%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Vietnam (X tons) was the main destination for toluene exports from China, accounting for a 70% share of total exports. Moreover, toluene exports to Vietnam exceeded the volume sent to the second major destination, South Korea (X tons), sixfold. The third position in this ranking was taken by Indonesia (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +195.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+25.4% per year) and Indonesia (0.0% per year).

In value terms, Vietnam ($X) remains the key foreign market for toluene exports from China, comprising 69% of total exports. The second position in the ranking was held by South Korea ($X), with a 12% share of total exports. It was followed by Indonesia, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam amounted to +151.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+19.0% per year) and Indonesia (0.0% per year).

Export Prices by Country

In 2021, the average toluene export price amounted to $X per ton, with an increase of 2.8% against the previous year. Over the period under review, the export price, however, saw a deep slump. The pace of growth was the most pronounced in 2017 an increase of 66% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and South Korea ($X per ton), while the average price for exports to Vietnam ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-5.1%).

Toluene Imports

Imports into China

In 2021, supplies from abroad of toluene decreased by -52.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 32% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, toluene imports declined notably to $X in 2021. Over the period under review, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2013 when imports increased by 26%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest toluene supplier to China, with a 45% share of total imports. Moreover, toluene imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled -16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.3% per year) and Thailand (-14.6% per year).

In value terms, South Korea ($X) constituted the largest supplier of toluene to China, comprising 46% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports. It was followed by Thailand, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value from South Korea totaled -20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.2% per year) and Thailand (-18.7% per year).

Import Prices by Country

In 2021, the average toluene import price amounted to $X per ton, jumping by 70% against the previous year. In general, the import price, however, recorded a perceptible contraction. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and the Philippines ($X per ton), while the price for Japan ($X per ton) and South Korea ($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 Philippines (-4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :