Europe: Benzene Market 2024

Benzene Market Size in Europe

The Europe benzene market fell to $X in 2022, with a decrease of -1.6% against the previous year. In general, consumption continues to indicate a mild setback. The pace of growth was the most pronounced in 2018 when the market value increased by 5.9%. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Benzene Production in Europe

In value terms, benzene production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 with an increase of 16%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Benzene Exports

Exports in Europe

In 2022, overseas shipments of benzene increased by 4.5% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 16%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, benzene exports rose remarkably to $X in 2022. Over the period under review, exports, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2021 when exports increased by 80% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly 50% of total exports in 2022. The UK (X tons) ranks next in terms of the total exports with a 14% share, followed by Belgium (11%) and Poland (6.6%). The following exporters - Hungary (X tons) and Spain (X tons) - together made up 7.4% 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 largest benzene supplying countries in Europe were the Netherlands ($X), Germany ($X) and Belgium ($X), with a combined 65% share of total exports. The UK, Poland, Hungary and Spain lagged somewhat behind, together accounting for a further 23%.

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

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, increasing by 5% against the previous year. In general, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by 56%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 Europe

In 2022, the amount of benzene imported in Europe fell remarkably to X tons, reducing by -18% on the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 44%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, benzene imports contracted to $X in 2022. In general, imports continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2021 with an increase of 125% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the seven major importers of benzene, namely Belgium, the Netherlands, Germany, Italy, Spain, France and Portugal, represented more than two-thirds 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, with a combined 60% share of total imports. Italy, Spain, France and Portugal lagged somewhat behind, together comprising a further 32%.

Among the main importing countries, Portugal, with a CAGR of +3.5%, recorded the highest growth rate of the value of imports, 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 Europe stood at $X per ton in 2022, increasing by 14% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 57% against the previous year. 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 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