Portugal: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Portugal

The Portuguese aromatic hydrocarbons derivatives market fell modestly to $X in 2021, shrinking by -3.3% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +10.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +5.5% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Production in Portugal

In value terms, aromatic hydrocarbons derivatives production dropped slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 162% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports from Portugal

In 2021, approx. X tons of halogenated derivatives of aromatic hydrocarbons were exported from Portugal; rising by 616% against the previous year's figure. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 14,947%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives exports surged to $X in 2021. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 12,728%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Mexico (X tons) was the main destination for aromatic hydrocarbons derivatives exports from Portugal, accounting for a 97% share of total exports. It was followed by Angola (X tons), with a 3.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico totaled +115.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-0.6% per year) and Cabo Verde (-58.0% per year).

In value terms, Mexico ($X) remains the key foreign market for halogenated derivatives of aromatic hydrocarbons exports from Portugal, comprising 94% of total exports. The second position in the ranking was taken by Angola ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Mexico stood at +127.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-5.2% per year) and Cabo Verde (-47.0% per year).

Export Prices by Country

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, growing by 13% against the previous year. In general, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 89% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to Mexico ($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 Cabo Verde (+26.5%), while the prices for the other major destinations experienced mixed trend patterns.

Aromatic Hydrocarbons Derivatives Imports

Imports into Portugal

In 2021, overseas purchases of halogenated derivatives of aromatic hydrocarbons increased by 15% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 72% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, aromatic hydrocarbons derivatives imports soared to $X in 2021. Over the period under review, imports showed strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 177% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest aromatic hydrocarbons derivatives supplier to Portugal, accounting for a 59% share of total imports. Moreover, aromatic hydrocarbons derivatives imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.6% per year) and the United States (+9.0% per year).

In value terms, Spain ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to Portugal, comprising 73% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Belgium, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +45.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.7% per year) and Belgium (+9.8% per year).

Import Prices by Country

In 2021, the average aromatic hydrocarbons derivatives import price amounted to $X per ton, rising by 2.2% against the previous year. In general, the import price showed a resilient expansion. The growth pace was the most rapid in 2016 an increase of 75%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+57.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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