South-Eastern Asia: P-Xylene Market 2024

P-Xylene Market Size in South-Eastern Asia

The Southeast Asian p-xylene market amounted to $X in 2021, increasing by 12% against the previous year. Over the period under review, consumption, however, posted a pronounced expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

P-Xylene Production in South-Eastern Asia

In value terms, p-xylene production rose markedly to $X in 2021 estimated in export price. In general, production, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 46% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

P-Xylene Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of p-xylene decreased by -3.5% to X tons, falling for the third year in a row after three years of growth. Total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -34.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 34% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, p-xylene exports surged to $X in 2021. Overall, exports saw a pronounced downturn. The pace of growth was the most pronounced in 2018 when exports increased by 51%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Singapore (X tons) represented the key exporter of p-xylene, constituting 54% of total exports. Thailand (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together took near 45% share of total exports.

Singapore was also the fastest-growing in terms of the p-xylene exports, with a CAGR of +5.8% from 2012 to 2021. At the same time, Malaysia (+3.2%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. From 2012 to 2021, the share of Singapore increased by +9.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest p-xylene supplier in South-Eastern Asia, comprising 53% of total exports. The second position in the ranking was taken by Thailand ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Singapore was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-5.7% per year) and Malaysia (-3.3% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, growing by 43% against the previous year. In general, the export price, however, continues to indicate a abrupt slump. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-5.5%), while the other leaders experienced a decline in the export price figures.

P-Xylene Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of p-xylene decreased by -6.9% to X tons, falling for the third year in a row after two years of growth. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 49%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, p-xylene imports soared to $X in 2021. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 64%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) represented the main importer of p-xylene, making up 59% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 32% share, followed by Thailand (9%).

From 2012 to 2021, the biggest increases were in Malaysia (with a CAGR of +4.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest p-xylene importing markets in South-Eastern Asia were Indonesia ($X), Malaysia ($X) and Thailand ($X), together accounting for 100% of total imports.

Among the main importing countries, Malaysia, with a CAGR of -2.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, growing by 42% against the previous year. In general, the import price, however, recorded a deep setback. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia ($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 (-5.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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