Eastern Asia: P-Xylene Market 2024

P-Xylene Market Size in Eastern Asia

The East Asian p-xylene market rose markedly to $X in 2021, growing by 10% against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

P-Xylene Production in Eastern Asia

In value terms, p-xylene production expanded markedly to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 30%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

P-Xylene Exports

Exports in Eastern Asia

In 2021, overseas shipments of p-xylene were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.7% against 2017 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 36% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, p-xylene exports soared to $X in 2021. Over the period under review, exports, however, recorded a mild reduction. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea represented the major exporting country with an export of around X tons, which amounted to 65% of total exports. It was distantly followed by Japan (X tons) and Taiwan (Chinese) (X tons), together committing a 35% share of total exports.

South Korea was also the fastest-growing in terms of the p-xylene exports, with a CAGR of +12.3% from 2012 to 2021. At the same time, Taiwan (Chinese) (+9.0%) displayed positive paces of growth. By contrast, Japan (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and Taiwan (Chinese) increased by +29 and +3.6 percentage points, respectively.

In value terms, South Korea ($X) remains the largest p-xylene supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports.

In South Korea, p-xylene exports expanded at an average annual rate of +5.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-10.8% per year) and Taiwan (Chinese) (+2.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 39% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-6.2%), while the other leaders experienced a decline in the export price figures.

P-Xylene Imports

Imports in Eastern Asia

In 2021, approx. X tons of p-xylene were imported in Eastern Asia; remaining stable against the year before. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.7% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 35%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, p-xylene imports skyrocketed to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) represented the main importer of p-xylene, making up 89% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), generating an 11% share of total imports.

China was also the fastest-growing in terms of the p-xylene imports, with a CAGR of +9.0% from 2012 to 2021. At the same time, Taiwan (Chinese) (+2.2%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +14 percentage points.

In value terms, China ($X) constitutes the largest market for imported p-xylene in Eastern Asia, comprising 89% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of total imports.

In China, p-xylene imports increased at an average annual rate of +2.1% over the period from 2012-2021.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 45% against the previous year. In general, the import price, however, saw a deep slump. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Taiwan (Chinese) totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-6.1%).

Source: IndexBox Platform

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