EU: Benzene Market 2024

Benzene Market Size in the EU

In 2022, the EU benzene market increased by 0.6% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption recorded a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 8.3% against the previous year. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Benzene Production in the EU

In value terms, benzene production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by 20%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Benzene Exports

Exports in the EU

In 2022, shipments abroad of benzene increased by 5% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2021 when exports increased by 16% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, benzene exports expanded notably to $X in 2022. Overall, exports, however, saw a perceptible setback. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly 60% of total exports in 2022. It was distantly followed by Belgium (X tons), Poland (X tons) and Hungary (X tons), together creating a 26% share of total exports. The following exporters - Spain (X tons) and France (X tons) - each recorded an 8% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of +8.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the Netherlands ($X), Germany ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 74% of total exports. Poland, Hungary, France and Spain lagged somewhat behind, together comprising a further 19%.

Among the main exporting countries, Poland, with a CAGR of +0.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, surging by 8.1% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 57%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.2%), while the other leaders experienced a decline in the export price figures.

Benzene Imports

Imports in the EU

In 2022, benzene imports in the European Union declined rapidly to X tons, waning by -17.5% against 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 47%. As a result, imports attained the peak of X tons, and then dropped dramatically in the following year.

In value terms, benzene imports shrank to $X in 2022. In general, imports continue to indicate a mild setback. The pace of growth was the most pronounced in 2021 when imports increased by 128%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X tons), the Netherlands (X tons), Germany (X tons), Italy (X tons), Spain (X tons), France (X tons) and Portugal (X tons) represented the largest importer of benzene in the European Union, constituting 97% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Portugal (with a CAGR of +4.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 64% of total imports. Italy, Spain, France and Portugal lagged somewhat behind, together comprising a further 34%.

Portugal, with a CAGR of +3.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, growing by 15% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 55% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Netherlands ($X per ton) and Spain ($X per ton), while Germany ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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