Republic of Korea: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2025

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

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