Malaysia: Toluene Market 2024

Toluene Market Size in Malaysia

The Malaysian toluene market dropped remarkably to $X in 2021, with a decrease of -20.3% against the previous year. Overall, consumption recorded a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Toluene Production in Malaysia

In value terms, toluene production declined to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 57% against the previous year. Toluene production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Toluene Exports

Exports from Malaysia

In 2021, approx. X tons of toluene were exported from Malaysia; jumping by 25% compared with the previous year's figure. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 334% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, toluene exports skyrocketed to $X in 2021. In general, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 376% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

India (X tons) was the main destination for toluene exports from Malaysia, accounting for a 56% share of total exports. Moreover, toluene exports to India exceeded the volume sent to the second major destination, Singapore (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to India stood at +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+12.1% per year) and Taiwan (Chinese) (-0.3% per year).

In value terms, India ($X) remains the key foreign market for toluene exports from Malaysia, comprising 56% of total exports. The second position in the ranking was held by Singapore ($X), with a 25% share of total exports. It was followed by Taiwan (Chinese), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to India amounted to +29.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+6.3% per year) and Taiwan (Chinese) (-4.0% per year).

Export Prices by Country

In 2021, the average toluene export price amounted to $X per ton, rising by 34% against the previous year. Overall, the export price, however, showed a perceptible shrinkage. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Hong Kong SAR ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to China ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (-2.5%), while the prices for the other major destinations experienced a decline.

Toluene Imports

Imports into Malaysia

In 2021, overseas purchases of toluene decreased by -15.8% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2017 with an increase of 76% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, toluene imports skyrocketed to $X in 2021. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2016 when imports increased by 51%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X tons) was the main toluene supplier to Malaysia, accounting for a 92% share of total imports. Moreover, toluene imports from Singapore exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was held by South Korea (X tons), with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore amounted to -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-2.1% per year) and South Korea (-2.3% per year).

In value terms, Singapore ($X) constituted the largest supplier of toluene to Malaysia, comprising 90% of total imports. The second position in the ranking was held by Thailand ($X), with a 7.9% share of total imports. It was followed by South Korea, with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore totaled -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.5% per year) and South Korea (-12.1% per year).

Import Prices by Country

In 2021, the average toluene import price amounted to $X per ton, picking up by 39% against the previous year. In general, the import price, however, continues to indicate a perceptible setback. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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