Eastern Europe: Toluene Market 2024

Toluene Market Size in Eastern Europe

In 2021, the East European toluene market decreased by -9.2% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption saw a mild contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Toluene Production in Eastern Europe

In value terms, toluene production dropped to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 21%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Toluene Exports

Exports in Eastern Europe

In 2021, the amount of toluene exported in Eastern Europe reduced slightly to X tons, waning by -4.6% on 2020. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 16%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, toluene exports surged to $X in 2021. In general, exports showed a perceptible setback. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Slovakia (X tons) was the main exporter of toluene, constituting 56% of total exports. Poland (X tons) took the second position in the ranking, followed by Romania (X tons), Hungary (X tons) and Russia (X tons). All these countries together took near 41% share of total exports. The Czech Republic (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to toluene exports from Slovakia stood at +4.1%. At the same time, Russia (+69.9%) and Hungary (+13.1%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +69.9% from 2012-2021. By contrast, Romania (-3.8%), Poland (-8.4%) and the Czech Republic (-17.2%) illustrated a downward trend over the same period. Slovakia (+19 p.p.), Hungary (+5.9 p.p.) and Russia (+5.2 p.p.) significantly strengthened its position in terms of the total exports, while Romania, the Czech Republic and Poland saw its share reduced by -4.3%, -9.3% and -16.7% from 2012 to 2021, respectively.

In value terms, Slovakia ($X) remains the largest toluene supplier in Eastern Europe, comprising 55% of total exports. The second position in the ranking was taken by Poland ($X), with a 14% share of total exports. It was followed by Romania, with an 11% share.

In Slovakia, toluene exports plunged by an average annual rate of -1.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (-12.3% per year) and Romania (-9.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, increasing by 58% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-2.6%), while the other leaders experienced a decline in the export price figures.

Toluene Imports

Imports in Eastern Europe

In 2021, after two years of decline, there was growth in purchases abroad of toluene, when their volume increased by 4.5% to X tons. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 28%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, toluene imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Estonia (X tons) and Hungary (X tons) were the main importers of toluene in Eastern Europe, together recording near 58% of total imports. Poland (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Romania (5.3%) and the Czech Republic (5.1%). The following importers - Belarus (X tons) and Slovakia (X tons) - each resulted at a 7.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest toluene importing markets in Eastern Europe were Hungary ($X), Estonia ($X) and Poland ($X), together comprising 75% of total imports. Romania, the Czech Republic, Slovakia and Belarus lagged somewhat behind, together accounting for a further 18%.

Among the main importing countries, the Czech Republic, with a CAGR of +15.5%, recorded the highest rates of growth with regard to 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 import price in Eastern Europe stood at $X per ton in 2021, jumping by 42% against the previous year. In general, the import price, however, recorded a perceptible shrinkage. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Hungary ($X per ton) and the Czech Republic ($X per ton), while Belarus ($X per ton) and Estonia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (-3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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