Malaysia: O-Xylene Market 2024

O-Xylene Market Size in Malaysia

The Malaysian o-xylene market dropped to $X in 2022, reducing by -5.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a mild slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

O-Xylene Exports

Exports from Malaysia

In 2022, the amount of o-xylene exported from Malaysia skyrocketed to X tons, jumping by 222% against 2021 figures. Over the period under review, exports, however, continue to indicate a sharp descent. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, o-xylene exports soared to $X in 2022. Overall, exports, however, faced a sharp curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 222% 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 remained at a lower figure.

Exports by Country

India (X tons) was the main destination for o-xylene exports from Malaysia, accounting for a 84% share of total exports. Moreover, o-xylene exports to India exceeded the volume sent to the second major destination, Myanmar (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (-40.1% per year) and Singapore (-43.3% per year).

In value terms, India ($X) emerged as the key foreign market for o-xylene exports from Malaysia, comprising 82% of total exports. The second position in the ranking was taken by Myanmar ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (-39.5% per year) and Singapore (-48.7% per year).

Export Prices by Country

In 2022, the average o-xylene export price amounted to $X per ton, reducing by -2% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 47%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Singapore ($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 Myanmar (+1.0%).

O-Xylene Imports

Imports into Malaysia

O-xylene imports into Malaysia rose to X tons in 2022, picking up by 3.4% against the previous year's figure. In general, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.2% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 75%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, o-xylene imports contracted to $X in 2022. Overall, imports, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2014 when imports increased by 64% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X tons) constituted the largest o-xylene supplier to Malaysia, with a 84% share of total imports. Moreover, o-xylene imports from Singapore exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. The third position in this ranking was taken by India (X tons), with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.6% per year) and India (+28.6% per year).

In value terms, Singapore ($X) constituted the largest supplier of o-xylene to Malaysia, comprising 84% of total imports. The second position in the ranking was taken by India ($X), with an 8% share of total imports. It was followed by Taiwan (Chinese), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value from Singapore totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.3% per year) and Taiwan (Chinese) (-6.6% per year).

Import Prices by Country

In 2022, the average o-xylene import price amounted to $X per ton, with a decrease of -14.2% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 India ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-6.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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