Kenya: Toluene Market 2024

Toluene Market Size in Kenya

In 2021, the Kenyan toluene market increased by 15% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Toluene consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Toluene Exports

Exports from Kenya

After two years of growth, overseas shipments of toluene decreased by -8.3% to X tons in 2021. Overall, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 582%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, toluene exports contracted to $X in 2021. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2020 when exports increased by 568% against the previous year. As a result, the exports reached the peak of $X, and then reduced modestly in the following year.

Exports by Country

Democratic Republic of the Congo (X tons), Rwanda (X tons) and Tanzania (X tons) were the main destinations of toluene exports from Kenya, together comprising 93% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Rwanda (with a CAGR of +45.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for toluene exported from Kenya were Rwanda ($X), Democratic Republic of the Congo ($X) and Tanzania ($X), together comprising 93% of total exports.

In terms of the main countries of destination, Rwanda, with a CAGR of +48.3%, recorded the highest rates of growth with regard to 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

In 2021, the average toluene export price amounted to $X per ton, increasing by 7.3% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 60%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Tanzania ($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 Democratic Republic of the Congo (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Toluene Imports

Imports into Kenya

In 2021, overseas purchases of toluene increased by 6.7% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, toluene imports soared to $X in 2021. Overall, imports, however, recorded a mild descent. The pace of growth was the most pronounced in 2018 when imports increased by 28% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest toluene supplier to Kenya, with a 35% share of total imports. Moreover, toluene imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) stood at +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+9.5% per year) and South Korea (+0.8% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of toluene to Kenya, comprising 33% of total imports. The second position in the ranking was taken by Spain ($X), with a 16% share of total imports. It was followed by South Korea, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +51.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+9.5% per year) and South Korea (-3.1% per year).

Import Prices by Country

The average toluene import price stood at $X per ton in 2021, picking up by 12% against the previous year. Over the period under review, the import price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 27%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and South Korea ($X per ton), while the price for the Netherlands ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+0.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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