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

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

The MENA's benzol, toluol and xylol market was finally on the rise to reach $X in 2021, after four years of decline. Over the period under review, consumption, however, showed a abrupt decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

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

In value terms, benzol, toluol and xylol production expanded notably to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 22%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

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

Exports in MENA

In 2021, exports of benzol (benzene), toluol (toluene) and xylol (xylenes) in MENA stood at X tons, surging by 8.4% compared with the previous year. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.9% against 2017 indices. The pace of growth appeared the most rapid in 2015 with an increase of 65% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, benzol, toluol and xylol exports fell to $X in 2021. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 67%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, finishing at X tons, which was near 84% of total exports in 2021. It was distantly followed by Turkey (X tons), creating an 8.1% share of total exports. The following exporters - Iran (X tons) and Oman (X tons) - together made up 4.8% of total exports.

From 2012 to 2021, average annual rates of growth with regard to benzol, toluol and xylol exports from Saudi Arabia stood at +5.3%. At the same time, Oman (+152.5%), Iran (+19.8%) and Turkey (+7.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +152.5% from 2012-2021. Oman (+2.2 p.p.) and Iran (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -3.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest benzol, toluol and xylol supplier in MENA, comprising 87% of total exports. The second position in the ranking was taken by Turkey ($X), with a 6.1% share of total exports. It was followed by Oman, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia was relatively modest. In the other countries, the average annual rates were as follows: Turkey (+4.6% per year) and Oman (+128.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, waning by -9.6% against the previous year. Overall, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2015 when the export price increased by 0.9%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-2.9%), while the other leaders experienced a decline in the export price figures.

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

Imports in MENA

In 2021, benzol, toluol and xylol imports in MENA skyrocketed to X tons, jumping by 91% compared with the previous year. Overall, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzol, toluol and xylol imports soared to $X in 2021. In general, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the largest importer of benzol (benzene), toluol (toluene) and xylol (xylenes), comprising 58% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 31% share, followed by Egypt (4.9%). The following importers - Morocco (X tons), Jordan (X tons) and Tunisia (X tons) - each recorded a 5% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +57.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported benzol (benzene), toluol (toluene) and xylol (xylenes) in MENA, comprising 60% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 28% share of total imports. It was followed by Egypt, with a 4.9% share.

In Turkey, benzol, toluol and xylol imports increased at an average annual rate of +49.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.5% per year) and Egypt (+17.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, rising by 34% against the previous year. In general, the import price, however, recorded a pronounced setback. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Tunisia ($X per ton) and Turkey ($X per ton), while Jordan ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform