South-Eastern Asia: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2024

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in South-Eastern Asia

In 2021, the Southeast Asian benzol, toluol and xylol market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, showed a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in South-Eastern Asia

In value terms, benzol, toluol and xylol production rose significantly to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in overseas shipments of benzol (benzene), toluol (toluene) and xylol (xylenes), when their volume decreased by -18.8% to X tons. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 58% against the previous year. The volume of export peaked at X tons in 2020, and then shrank rapidly in the following year.

In value terms, benzol, toluol and xylol exports skyrocketed to $X in 2021. In general, exports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2013 with an increase of 71% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Thailand (X tons) represented the major exporter of benzol (benzene), toluol (toluene) and xylol (xylenes), constituting 56% of total exports. The Philippines (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (11%) and Singapore (4.6%). Indonesia (X tons) and Malaysia (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to benzol, toluol and xylol exports from Thailand stood at +8.2%. At the same time, Vietnam (+13.4%), the Philippines (+11.8%), Indonesia (+11.3%) and Malaysia (+3.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +13.4% from 2012-2021. Singapore experienced a relatively flat trend pattern. While the share of Indonesia (+4.5 p.p.), the Philippines (+4.4 p.p.) and Vietnam (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-1.6 p.p.), Thailand (-4.2 p.p.) and Singapore (-6.3 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest benzol, toluol and xylol supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by the Philippines ($X), with a 23% share of total exports. It was followed by Vietnam, with a 7.3% share.

In Thailand, benzol, toluol and xylol exports increased at an average annual rate of +5.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (+5.2% per year) and Vietnam (+4.6% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 57% against the previous year. Overall, the export price, however, continues to indicate a perceptible decrease. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Vietnam ($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 (-2.9%), while the other leaders experienced a decline in the export price figures.

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

Imports in South-Eastern Asia

In 2021, purchases abroad of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -37.6% to X tons, falling for the third consecutive year after three years of growth. In general, imports faced a abrupt slump. The growth pace was the most rapid in 2018 when imports increased by 87% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, benzol, toluol and xylol imports dropped rapidly to $X in 2021. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 132% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of benzol, toluol and xylol imports in 2021 were Singapore (X tons), Vietnam (X tons) and the Philippines (X tons), together accounting for 69% of total import. Malaysia (X tons) held the next position in the ranking, followed by Indonesia (X tons) and Brunei Darussalam (X tons). All these countries together held approx. 29% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +135.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest benzol, toluol and xylol importing markets in South-Eastern Asia were Singapore ($X), Vietnam ($X) and the Philippines ($X), with a combined 64% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +110.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, jumping by 25% against the previous year. Overall, the import price, however, continues to indicate a drastic downturn. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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