Portugal: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Portugal

In 2021, the Portuguese cyclic hydrocarbons market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Cyclic Hydrocarbons Production in Portugal

In value terms, cyclic hydrocarbons production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 32%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Cyclic Hydrocarbons Exports

Exports from Portugal

In 2021, overseas shipments of other cyclic hydrocarbons were finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 754,900% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, cyclic hydrocarbons exports skyrocketed to $X in 2021. In general, exports saw a significant increase. The growth pace was the most rapid in 2015 when exports increased by 2,449,071% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), China (X tons) and Indonesia (X tons) were the main destinations of cyclic hydrocarbons exports from Portugal, with a combined 81% share of total exports. These countries were followed by South Korea, Mozambique and Angola, which together accounted for a further 18%.

From 2013 to 2021, the biggest increases were recorded for Mozambique (with a CAGR of +220.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cyclic hydrocarbons exported from Portugal were Japan ($X), China ($X) and Indonesia ($X), together comprising 88% of total exports.

China, with a CAGR of +554.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cyclic hydrocarbons export price stood at $X per ton in 2021, growing by 260% against the previous year. Overall, the export price saw a resilient expansion. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+213.5%), while the prices for the other major destinations experienced a decline.

Cyclic Hydrocarbons Imports

Imports into Portugal

In 2021, purchases abroad of other cyclic hydrocarbons was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a abrupt decrease. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cyclic hydrocarbons imports soared to $X in 2021. Over the period under review, imports posted a slight increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of cyclic hydrocarbons to Portugal, accounting for a 68% share of total imports. Moreover, cyclic hydrocarbons imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium totaled +92.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.1% per year) and the Netherlands (+1.9% per year).

In value terms, Belgium ($X) constituted the largest supplier of other cyclic hydrocarbons to Portugal, comprising 82% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by Spain, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to +94.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.3% per year) and Spain (-28.2% per year).

Import Prices by Country

The average cyclic hydrocarbons import price stood at $X per ton in 2021, with an increase of 18% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cyclic hydrocarbons import price decreased by -6.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 81%. As a result, import price reached the peak level of $X per ton. From 2020 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 Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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