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

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

The Singaporean benzol, toluol and xylol market dropped remarkably to $X in 2021, which is down by -49.4% against the previous year. Overall, consumption saw a significant contraction. Benzol, toluol and xylol consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, benzol, toluol and xylol production declined notably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 2,371%. As a result, production reached the peak level of $X, and then contracted significantly in the following year.

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

Exports from Singapore

In 2021, overseas shipments of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -59.5% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2019 when exports increased by 173% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, benzol, toluol and xylol exports declined sharply to $X in 2021. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 when exports increased by 221%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of benzol, toluol and xylol exports from Singapore, together comprising 80% of total exports. These countries were followed by the Netherlands, Malaysia, New Zealand and Australia, which together accounted for a further 9.9%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +47.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for benzol, toluol and xylol exported from Singapore were Thailand ($X), the United States ($X) and South Korea ($X), with a combined 74% share of total exports. These countries were followed by the Netherlands, New Zealand, Australia and Malaysia, which together accounted for a further 12%.

The Netherlands, with a CAGR of +61.8%, 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

In 2021, the average benzol, toluol and xylol export price amounted to $X per ton, surging by 14% against the previous year. In general, the export price, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Malaysia ($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 the Netherlands (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Singapore

In 2021, approx. X tons of benzol (benzene), toluol (toluene) and xylol (xylenes) were imported into Singapore; falling by -59.3% against 2020 figures. Over the period under review, imports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, benzol, toluol and xylol imports shrank notably to $X in 2021. In general, imports showed a dramatic contraction. The pace of growth was the most pronounced in 2017 with an increase of 44%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest benzol, toluol and xylol supplier to Singapore, with a 50% share of total imports. Moreover, benzol, toluol and xylol imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand stood at -22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-16.8% per year) and South Korea (-24.3% per year).

In value terms, Thailand ($X) constituted the largest supplier of benzol (benzene), toluol (toluene) and xylol (xylenes) to Singapore, comprising 45% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Malaysia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand stood at -26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-28.9% per year) and Malaysia (-22.1% per year).

Import Prices by Country

In 2021, the average benzol, toluol and xylol import price amounted to $X per ton, rising by 11% against the previous year. In general, the import price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2013 when the average import price increased by 12%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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