South-Eastern Asia: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in South-Eastern Asia

In 2022, the Southeast Asian m-xylene and xylenes market increased by 194% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

M-Xylene And Xylenes Production in South-Eastern Asia

In value terms, m-xylene and xylenes production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a dramatic decline. The pace of growth was the most pronounced in 2017 when the production volume increased by 30%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

M-Xylene And Xylenes Exports

Exports in South-Eastern Asia

In 2022, the amount of m-xylene and mixed xylene isomers exported in South-Eastern Asia contracted markedly to X tons, which is down by -28% compared with the previous year's figure. Over the period under review, exports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2021 with an increase of 244%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, m-xylene and xylenes exports expanded rapidly to $X in 2022. In general, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 239% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines was the main exporting country with an export of about X tons, which resulted at 59% of total exports. Singapore (X tons) took a 27% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (12%). Vietnam (X tons) followed a long way behind the leaders.

Exports from the Philippines decreased at an average annual rate of -26.7% from 2012 to 2022. At the same time, Vietnam (+7.8%) and Malaysia (+4.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +7.8% from 2012-2022. By contrast, Singapore (-22.7%) illustrated a downward trend over the same period. Malaysia (+12 p.p.), Singapore (+6.1 p.p.) and Vietnam (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines saw its share reduced by -19.6% from 2012 to 2022, respectively.

In value terms, the Philippines ($X) remains the largest m-xylene and xylenes supplier in South-Eastern Asia, comprising 61% of total exports. The second position in the ranking was held by Singapore ($X), with a 29% share of total exports. It was followed by Malaysia, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines totaled -27.8%. In the other countries, the average annual rates were as follows: Singapore (-23.3% per year) and Malaysia (+2.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 47% against the previous year. Over the period under review, the export price, however, showed a slight reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.1%), while the other leaders experienced a decline in the export price figures.

M-Xylene And Xylenes Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of m-xylene and mixed xylene isomers was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a pronounced expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, m-xylene and xylenes imports skyrocketed to $X in 2022. Overall, imports, however, showed a slight setback. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Singapore prevails in imports structure, amounting to X tons, which was approx. 91% of total imports in 2022. Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to m-xylene and xylenes imports into Singapore stood at +10.2%. At the same time, Thailand (+56.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +56.5% from 2012-2022. By contrast, Malaysia (-7.8%) and Indonesia (-19.4%) illustrated a downward trend over the same period. While the share of Singapore (+47 p.p.) and Thailand (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-4.2 p.p.) and Indonesia (-36.1 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) constitutes the largest market for imported m-xylene and mixed xylene isomers in South-Eastern Asia, comprising 90% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 3.2% share of total imports. It was followed by Thailand, with a 3% share.

In Singapore, m-xylene and xylenes imports expanded at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (-22.6% per year) and Thailand (+51.2% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 23% against the previous year. In general, the import price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2021 an increase of 28%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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