Eastern Asia: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Eastern Asia

The East Asian m-xylene and xylenes market surged to $X in 2022, increasing by 171% against the previous year. Overall, consumption saw temperate growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

M-Xylene And Xylenes Production in Eastern Asia

In value terms, m-xylene and xylenes production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 5.9% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

M-Xylene And Xylenes Exports

Exports in Eastern Asia

In 2022, approx. X tons of m-xylene and mixed xylene isomers were exported in Eastern Asia; dropping by -31.1% on 2021 figures. Over the period under review, exports showed a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, m-xylene and xylenes exports fell to $X in 2022. In general, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 56%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Japan (X tons) represented the main exporter of m-xylene and mixed xylene isomers, committing 59% of total exports. It was distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons), together committing a 39% share of total exports. China (X tons) followed a long way behind the leaders.

Exports from Japan decreased at an average annual rate of -18.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+30.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +30.5% from 2012-2022. By contrast, China (-30.6%) and South Korea (-34.4%) illustrated a downward trend over the same period. Japan (+30 p.p.) and Taiwan (Chinese) (+24 p.p.) significantly strengthened its position in terms of the total exports, while China and South Korea saw its share reduced by -3.2% and -50.8% from 2012 to 2022, respectively.

In value terms, Japan ($X) remains the largest m-xylene and xylenes supplier in Eastern Asia, comprising 64% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 21% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to -17.5%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+28.5% per year) and South Korea (-35.2% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 26% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 39%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and Japan ($X per ton), while Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the other leaders experienced mixed trends in the export price figures.

M-Xylene And Xylenes Imports

Imports in Eastern Asia

M-xylene and xylenes imports fell significantly to X tons in 2022, with a decrease of -16.8% on the previous year's figure. Overall, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2013 with an increase of 67%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, m-xylene and xylenes imports fell to $X in 2022. In general, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 102%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the main importing country with an import of around X tons, which reached 59% of total imports. Taiwan (Chinese) (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (18%).

From 2012 to 2022, average annual rates of growth with regard to m-xylene and xylenes imports into China stood at +6.1%. At the same time, South Korea (+11.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.3% from 2012-2022. By contrast, Taiwan (Chinese) (-18.6%) illustrated a downward trend over the same period. China (+44 p.p.) and South Korea (+15 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) saw its share reduced by -59.2% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported m-xylene and mixed xylene isomers in Eastern Asia, comprising 59% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 22% share of total imports.

In China, m-xylene and xylenes imports expanded at an average annual rate of +4.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-18.1% per year) and South Korea (+9.8% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 22%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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