MERCOSUR: Toluene Market 2024

Toluene Market Size in MERCOSUR

After three years of decline, the MERCOSUR toluene market increased by 9.1% to $X in 2021. Over the period under review, consumption, however, saw a perceptible curtailment. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Toluene Production in MERCOSUR

In value terms, toluene production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2013 with an increase of 11%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Toluene Exports

Exports in MERCOSUR

In 2021, exports of toluene in MERCOSUR shrank remarkably to X tons, with a decrease of -23.9% against 2020 figures. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 115%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, toluene exports surged to $X in 2021. In general, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 116%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Brazil represented the main exporting country with an export of around X tons, which accounted for 68% of total exports. It was distantly followed by Colombia (X tons) and Argentina (X tons), together committing a 31% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to toluene exports from Brazil stood at -4.3%. At the same time, Argentina (+7.0%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +7.0% from 2012-2021. By contrast, Colombia (-11.0%) illustrated a downward trend over the same period. While the share of Argentina (+9.7 p.p.) and Brazil (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Colombia (-13.5 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest toluene supplier in MERCOSUR, comprising 69% of total exports. The second position in the ranking was taken by Colombia ($X), with a 16% share of total exports.

In Brazil, toluene exports shrank by an average annual rate of -9.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (-16.3% per year) and Argentina (-1.3% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 60% against the previous year. In general, the export price, however, showed a abrupt setback. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-5.5%), while the other leaders experienced a decline in the export price figures.

Toluene Imports

Imports in MERCOSUR

In 2021, overseas purchases of toluene increased by 36% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a perceptible decrease. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, toluene imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a abrupt descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Peru (X tons) and Ecuador (X tons) represented the key importers of toluene in 2021, amounting to near 40% and 27% of total imports, respectively. Chile (X tons) ranks next in terms of the total imports with a 12% share, followed by Paraguay (9%) and Venezuela (6.9%). Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Venezuela (with a CAGR of +46.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest toluene importing markets in MERCOSUR were Peru ($X), Ecuador ($X) and Chile ($X), together accounting for 77% of total imports. These countries were followed by Venezuela, Paraguay and Uruguay, which together accounted for a further 19%.

Venezuela, with a CAGR of +45.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, with an increase of 18% against the previous year. In general, the import price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 when the import price increased by 18% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Venezuela ($X per ton) and Ecuador ($X per ton), while Paraguay ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform