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

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in the Middle East

In 2021, the Middle Eastern benzol, toluol and xylol market increased by 37% to $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, consumption, however, recorded a deep slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in the Middle East

In value terms, benzol, toluol and xylol production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2015 with an increase of 30% against the previous year. As a result, production reached 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 the Middle East

In 2021, approx. X tons of benzol (benzene), toluol (toluene) and xylol (xylenes) were exported in the Middle East; growing by 8.4% on the year before. Total exports indicated a strong expansion 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 +14.0% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 76% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, benzol, toluol and xylol exports contracted slightly to $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 77% against the previous year. As a result, the exports attained 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, amounting to X tons, which was near 85% of total exports in 2021. It was distantly followed by Turkey (X tons), comprising an 8.2% share of total exports. Iran (X tons) and Oman (X tons) took a minor share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +5.3% from 2012 to 2021. 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 the Middle East, with a CAGR of +152.5% from 2012-2021. While the share of Oman (+2.2 p.p.) and Iran (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-3.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest benzol, toluol and xylol supplier in the Middle East, comprising 88% of total exports. The second position in the ranking was taken by Turkey ($X), with a 6.1% share of total exports. It was followed by Oman, with a 2% share.

In Saudi Arabia, benzol, toluol and xylol exports remained relatively stable over the period from 2012-2021. 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

The export price in the Middle East stood at $X per ton in 2021, waning by -9.6% against the previous year. Over the period under review, the export price saw a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of 0.8%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: 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 the Middle East

In 2021, the amount of benzol (benzene), toluol (toluene) and xylol (xylenes) imported in the Middle East soared to X tons, growing by 92% compared with 2020 figures. Overall, imports continue to indicate prominent growth. 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 skyrocketed to $X in 2021. In general, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the main importing country with an import of about X tons, which amounted to 63% of total imports. It was distantly followed by the United Arab Emirates (X tons), committing a 34% share of total imports. Jordan (X tons) took a relatively small share of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported benzol (benzene), toluol (toluene) and xylol (xylenes) in the Middle East, comprising 66% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 30% share of total imports.

In Turkey, benzol, toluol and xylol imports expanded 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 Jordan (-15.3% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, picking up by 38% against the previous year. Over the period under review, the import price, however, showed a noticeable curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per ton), while Jordan ($X per ton) was 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

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