Malaysia: P-Xylene Market 2024

P-Xylene Market Size in Malaysia

The Malaysian p-xylene market rose sharply to $X in 2021, surging by 14% against the previous year. Over the period under review, consumption, however, continues to indicate strong growth. P-xylene consumption peaked in 2021 and is expected to retain growth in the immediate term.

P-Xylene Production in Malaysia

In value terms, p-xylene production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, saw modest growth. The pace of growth appeared the most rapid in 2013 with an increase of 65%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

P-Xylene Exports

Exports from Malaysia

P-xylene exports from Malaysia contracted to X tons in 2021, shrinking by -2.8% against the previous year. The total export volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 54%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, p-xylene exports skyrocketed to $X in 2021. Overall, exports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2013 when exports increased by 59% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for p-xylene exports from Malaysia, with a 91% share of total exports. Moreover, p-xylene exports to China exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+3.8% per year) and Indonesia (+3.8% per year).

In value terms, China ($X) remains the key foreign market for p-xylene exports from Malaysia, comprising 90% of total exports. The second position in the ranking was held by Thailand ($X), with a 4.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.6% per year) and Indonesia (-2.0% per year).

Export Prices by Country

The average p-xylene export price stood at $X per ton in 2021, with an increase of 45% against the previous year. In general, the export price, however, recorded a abrupt descent. Over the period under review, the average export prices reached the maximum 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 external markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to China ($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 Indonesia (-5.6%), while the prices for the other major destinations experienced a decline.

P-Xylene Imports

Imports into Malaysia

P-xylene imports into Malaysia shrank modestly to X tons in 2021, with a decrease of -3.8% against the year before. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +91.3% against 2015 indices. The pace of growth appeared the most rapid in 2013 with an increase of 34% against the previous year. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, p-xylene imports soared to $X in 2021. Overall, imports continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 47%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of p-xylene to Malaysia, accounting for a 79% share of total imports. Moreover, p-xylene imports from India exceeded the figures recorded by the second-largest supplier, Kuwait (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (+8.6% per year) and Thailand (+7.3% per year).

In value terms, India ($X) constituted the largest supplier of p-xylene to Malaysia, comprising 82% of total imports. The second position in the ranking was held by Kuwait ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (+3.9% per year) and Thailand (-6.2% per year).

Import Prices by Country

The average p-xylene import price stood at $X per ton in 2021, increasing by 40% against the previous year. Overall, the import price, however, showed a deep contraction. The import price peaked 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 India ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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