Report Update Nov 1, 2024

Republic of Korea - Benzol (Benzene), Toluol (Toluene) and Xylol (Xylenes) - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2024

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in Republic of Korea

In 2021, the South Korean benzol, toluol and xylol market decreased by -2.6% to $X, falling for the eighth year in a row after two years of growth. Over the period under review, consumption showed a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

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

Exports from Republic of Korea

In 2021, overseas shipments of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -10.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2014 with an increase of 118%. Over the period under review, the exports attained the maximum at X tons in 2020, and then reduced in the following year.

In value terms, benzol, toluol and xylol exports skyrocketed to $X in 2021. In general, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 80%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of benzol, toluol and xylol exports from South Korea.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +15.9%).

In value terms, the largest markets for benzol, toluol and xylol exported from South Korea were China ($X) and Taiwan (Chinese) ($X).

China, with a CAGR of +10.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average benzol, toluol and xylol export price stood at $X per ton in 2021, rising by 59% against the previous year. Overall, the export price, however, showed a abrupt decrease. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-5.1%).

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

Imports into Republic of Korea

In 2021, the amount of benzol (benzene), toluol (toluene) and xylol (xylenes) imported into South Korea contracted to X tons, declining by -15% against 2020. Over the period under review, imports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by 45% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, benzol, toluol and xylol imports surged to $X in 2021. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 48% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) was the main benzol, toluol and xylol supplier to South Korea, with a 97% share of total imports. It was followed by Thailand (X tons), with a 0.5% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-22.6% per year) and the United States (-41.9% per year).

In value terms, Japan ($X) constituted the largest supplier of benzol (benzene), toluol (toluene) and xylol (xylenes) to South Korea, comprising 97% of total imports. The second position in the ranking was held by Thailand ($X), with a 0.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-25.3% per year) and the United States (-44.8% per year).

Import Prices by Country

In 2021, the average benzol, toluol and xylol import price amounted to $X per ton, rising by 51% against the previous year. Overall, the import price, however, saw a abrupt shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for benzol (benzene), toluol (toluene) and xylol (xylenes) in the world?

The country with the largest volume of benzol, toluol and xylol consumption was China, accounting for 22% of total volume. Moreover, benzol, toluol and xylol consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with an 8.6% share.

What are the largest producers of benzol (benzene), toluol (toluene) and xylol (xylenes) in the world?

The countries with the highest volumes of benzol, toluol and xylol production in 2020 were China, the United States and Japan, with a combined 37% share of global production.

What are the leading suppliers of benzol (benzene), toluol (toluene) and xylol (xylenes) to Republic of Korea?

In value terms, Japan constituted the largest supplier of benzol, toluol and xylol to South Korea, comprising 96% of total imports. The second position in the ranking was occupied by Taiwan Chinese), with a 2.2% share of total imports.

What are the leading importers of benzol (benzene), toluol (toluene) and xylol (xylenes) from Republic of Korea?

In value terms, China remains the key foreign market for benzol, toluol and xylol exports from South Korea, comprising 60% of total exports. The second position in the ranking was occupied by Taiwan Chinese), with a 28% share of total exports.

What is the average export price for benzol (benzene), toluol (toluene) and xylol (xylenes) in Republic of Korea?

In 2020, the average benzol, toluol and xylol export price amounted to $467 per ton, reducing by -33% against the previous year.

What is the average import price for benzol (benzene), toluol (toluene) and xylol (xylenes) in Republic of Korea?

In 2020, the average benzol, toluol and xylol import price amounted to $482 per ton, waning by -28.9% against the previous year.

This report provides an in-depth analysis of the market for benzol, toluol and xylol in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20147320 - Benzol (benzene), toluol (toluene) and xylol (xylenes)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023