MERCOSUR: Benzene Market 2024

Benzene Market Size in MERCOSUR

The MERCOSUR benzene market dropped slightly to $X in 2022, with a decrease of -4% against the previous year. In general, consumption continues to indicate a pronounced contraction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Benzene Production in MERCOSUR

In value terms, benzene production shrank to $X in 2022 estimated in export price. In general, production saw a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Benzene Exports

Exports in MERCOSUR

In 2022, exports of benzene in MERCOSUR contracted notably to X tons, reducing by -34.8% on the previous year. Overall, exports saw a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by 33% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, benzene exports fell markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Brazil (X tons) was the main exporter of benzene, committing 77% of total exports. Argentina (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (8.7%). Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to benzene exports from Brazil stood at -7.5%. At the same time, Colombia (+4.8%) and Argentina (+4.2%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +4.8% from 2012-2022. By contrast, Venezuela (-22.2%) illustrated a downward trend over the same period. Argentina (+8.3 p.p.) and Colombia (+6 p.p.) significantly strengthened its position in terms of the total exports, while Brazil and Venezuela saw its share reduced by -5.8% and -8.5% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest benzene supplier in MERCOSUR, comprising 88% of total exports. The second position in the ranking was taken by Colombia ($X), with a 6.2% share of total exports. It was followed by Argentina, with a 5.5% share.

In Brazil, benzene exports declined by an average annual rate of -9.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (-3.8% per year) and Argentina (-7.3% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, growing by 7.6% against the previous year. Overall, the export price, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2021 an increase of 55% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-1.7%), while the other leaders experienced a decline in the export price figures.

Benzene Imports

Imports in MERCOSUR

In 2022, purchases abroad of benzene increased by 7.1% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, saw a significant decline. The pace of growth was the most pronounced in 2021 with an increase of 2,280% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, benzene imports rose slightly to $X in 2022. Overall, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 101% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Argentina dominates imports structure, amounting to X tons, which was near 97% of total imports in 2022. Venezuela (X tons) took a minor share of total imports.

Imports into Argentina decreased at an average annual rate of -24.5% from 2012 to 2022. Venezuela (-22.4%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Venezuela ($X) constitutes the largest market for imported benzene in MERCOSUR, comprising 70% of total imports. The second position in the ranking was held by Argentina ($X), with a 30% share of total imports.

In Venezuela, benzene imports remained relatively stable over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, reducing by -3% against the previous year. Over the period under review, the import price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 an increase of 3,308%. Over the period under review, import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Venezuela ($X per ton), while Argentina stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+28.2%).

Source: IndexBox Platform