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

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

In 2021, the Omani benzol, toluol and xylol market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded a noticeable increase. Benzol, toluol and xylol consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

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

In value terms, benzol, toluol and xylol production soared to $X in 2021 estimated in export price. Over the period under review, production posted a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 155%. Benzol, toluol and xylol production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

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

Exports from Oman

In 2021, shipments abroad of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -11.3% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 222,444%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, benzol, toluol and xylol exports surged to $X in 2021. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2019 with an increase of 98,148% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for benzol, toluol and xylol exports from Oman, accounting for a 75% share of total exports. Moreover, benzol, toluol and xylol exports to India exceeded the volume sent to the second major destination, the Philippines (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to India stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Yemen (+61.4% per year).

In value terms, India ($X) emerged as the key foreign market for benzol (benzene), toluol (toluene) and xylol (xylenes) exports from Oman, comprising 86% of total exports. The second position in the ranking was held by the Philippines ($X), with a 6.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to India stood at +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Yemen (+10.3% per year).

Export Prices by Country

The average benzol, toluol and xylol export price stood at $X per ton in 2021, rising by 67% against the previous year. Overall, the export price, however, recorded a abrupt decrease. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+8.4%), while the prices for the other major destinations experienced a decline.

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

Imports into Oman

In 2021, approx. X tons of benzol (benzene), toluol (toluene) and xylol (xylenes) were imported into Oman; waning by -4.6% against 2020 figures. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 96%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, benzol, toluol and xylol imports stood at $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 96% against the previous year. 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, China (X tons) constituted the largest supplier of benzol, toluol and xylol to Oman, with a 56% share of total imports. Moreover, benzol, toluol and xylol imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +181.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-22.3% per year) and South Korea (+35.2% per year).

In value terms, China ($X) constituted the largest supplier of benzol (benzene), toluol (toluene) and xylol (xylenes) to Oman, comprising 55% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +240.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-10.1% per year) and South Korea (+30.8% per year).

Import Prices by Country

The average benzol, toluol and xylol import price stood at $X per ton in 2021, surging by 13% against the previous year. In general, the import price showed a prominent increase. The growth pace was the most rapid in 2014 when the average import price increased by 538% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Qatar ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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