Japan: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2024

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in Japan

In 2021, the Japanese benzol, toluol and xylol market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a deep downturn. Benzol, toluol and xylol consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in Japan

In value terms, benzol, toluol and xylol production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 25% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes)

Exports from Japan

Benzol, toluol and xylol exports from Japan shrank to X tons in 2021, which is down by -5.8% compared with the year before. In general, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 75%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, benzol, toluol and xylol exports surged to $X in 2021. Overall, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -24.7% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 49% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for benzol, toluol and xylol exports from Japan, accounting for a 54% share of total exports. Moreover, benzol, toluol and xylol exports to South Korea exceeded the volume sent to the second major destination, China (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.2% per year) and Taiwan (Chinese) (+32.2% per year).

In value terms, the largest markets for benzol, toluol and xylol exported from Japan were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 99% of total exports.

Taiwan (Chinese), with a CAGR of +23.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average benzol, toluol and xylol export price stood at $X per ton in 2021, picking up by 40% against the previous year. In general, the export price, however, continues to indicate a abrupt downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-5.8%), while the prices for the other major destinations experienced a decline.

Imports of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes)

Imports into Japan

After four years of decline, purchases abroad of benzol (benzene), toluol (toluene) and xylol (xylenes) increased by 25% to X tons in 2021. In general, imports, however, faced a deep contraction. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, benzol, toluol and xylol imports skyrocketed to $X in 2021. Overall, imports, however, faced a abrupt curtailment. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest benzol, toluol and xylol supplier to Japan, accounting for a 66% share of total imports. Moreover, benzol, toluol and xylol imports from South Korea exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea stood at -18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-1.7% per year) and the United States (+179.8% per year).

In value terms, South Korea ($X) constituted the largest supplier of benzol (benzene), toluol (toluene) and xylol (xylenes) to Japan, comprising 62% of total imports. The second position in the ranking was held by Australia ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled -23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-5.2% per year) and the United States (+122.4% per year).

Import Prices by Country

The average benzol, toluol and xylol import price stood at $X per ton in 2021, with an increase of 114% against the previous year. Over the period under review, the import price, however, showed a perceptible slump. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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