Eastern Europe: Benzene Market 2024

Benzene Market Size in Eastern Europe

After three years of decline, the East European benzene market increased by 68% to $X in 2022. Overall, consumption, however, saw a noticeable slump. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Benzene Production in Eastern Europe

In value terms, benzene production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2014 with an increase of 7.7% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Benzene Exports

Exports in Eastern Europe

Benzene exports contracted markedly to X tons in 2022, which is down by -22.4% against 2021. Total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -25.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, benzene exports declined sharply to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 97%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Poland (X tons) represented the key exporter of benzene, making up 38% of total exports. It was distantly followed by Hungary (X tons), Slovakia (X tons), Belarus (X tons), Romania (X tons) and the Czech Republic (X tons), together making up a 57% share of total exports. Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Czech Republic (with a CAGR of +111.9%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Hungary ($X) and Slovakia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 75% share of total exports. The Czech Republic, Romania, Belarus and Ukraine lagged somewhat behind, together comprising a further 25%.

The Czech Republic, with a CAGR of +97.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, rising by 8.3% against the previous year. Overall, the export price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by 65%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+0.6%), while the other leaders experienced a decline in the export price figures.

Benzene Imports

Imports in Eastern Europe

In 2022, approx. X tons of benzene were imported in Eastern Europe; waning by -5.4% compared with 2021. Overall, imports showed a noticeable contraction. The growth pace was the most rapid in 2021 when imports increased by 110% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, benzene imports dropped markedly to $X in 2022. Over the period under review, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 175%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The Czech Republic (X tons) and Russia (X tons) dominates imports structure, together committing 96% of total imports. Belarus (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +37.2%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest benzene importing markets in Eastern Europe were the Czech Republic ($X), Russia ($X) and Belarus ($X), together comprising 100% of total imports.

Russia, with a CAGR of +35.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, waning by -12.7% against the previous year. Over the period under review, the import price saw a slight decline. The most prominent rate of growth was recorded in 2021 when the import price increased by 31%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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