Egypt: Benzene Market 2024

Benzene Market Size in Egypt

The Egyptian benzene market declined modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2018 with an increase of 6.2% against the previous year. Benzene consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Benzene Production in Egypt

In value terms, benzene production shrank slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible decrease. The growth pace was the most rapid in 2018 when the production volume increased by 6.1% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Benzene Exports

Exports from Egypt

In 2022, shipments abroad of benzene decreased by -99.9% to X kg, falling for the second consecutive year after seven years of growth. In general, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 8.6%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, benzene exports contracted markedly to $X in 2022. Over the period under review, exports recorded a dramatic descent. The smallest decline of -14% was in 2019. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for benzene exports from Egypt, accounting for a 90% share of total exports. Moreover, benzene exports to the Netherlands exceeded the volume sent to the second major destination, Belgium (X kg), more than tenfold. The UK (X kg) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands totaled -59.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and the UK (+600.0% per year).

In value terms, the largest markets for benzene exported from Egypt were Belgium ($X), the Netherlands ($X) and the UK ($X), with a combined 76% share of total exports.

Among the main countries of destination, the UK, with a CAGR of +2,100.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average benzene export price stood at $X per ton in 2022, picking up by 211% against the previous year. In general, the export price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of 217%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+231.8%), while the prices for the other major destinations experienced mixed trend patterns.

Benzene Imports

Imports into Egypt

Benzene imports into Egypt soared to X tons in 2022, rising by 63% on the previous year's figure. Over the period under review, imports showed a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by 15,019%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, benzene imports expanded markedly to $X in 2022. Overall, imports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 10,640%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest supplier of benzene to Egypt, accounting for a 68% share of total imports. Moreover, benzene imports from the UK exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. The third position in this ranking was held by Belgium (X tons), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from the UK stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.7% per year) and Belgium (+35.6% per year).

In value terms, the UK ($X) constituted the largest supplier of benzene to Egypt, comprising 81% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total imports. It was followed by Belgium, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-4.1% per year) and Belgium (+19.0% per year).

Import Prices by Country

In 2022, the average benzene import price amounted to $X per ton, declining by -29.9% against the previous year. In general, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2021 an increase of 63% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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