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

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

The Thai benzol, toluol and xylol market shrank dramatically to $X in 2021, declining by -26.1% against the previous year. In general, consumption showed a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

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

In value terms, benzol, toluol and xylol production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 69% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

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

Exports from Thailand

In 2021, after three years of growth, there was significant decline in shipments abroad of benzol (benzene), toluol (toluene) and xylol (xylenes), when their volume decreased by -23.8% to X tons. In general, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.2% 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 increased by +26.4% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 75%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then contracted remarkably in the following year.

In value terms, benzol, toluol and xylol exports surged to $X in 2021. Overall, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2013 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for benzol, toluol and xylol exports from Thailand, with a 62% share of total exports. Moreover, benzol, toluol and xylol exports to China exceeded the volume sent to the second major destination, Singapore (X tons), fourfold. Vietnam (X tons) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +49.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+4.6% per year) and Vietnam (+12.6% per year).

In value terms, China ($X) remains the key foreign market for benzol (benzene), toluol (toluene) and xylol (xylenes) exports from Thailand, comprising 66% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by Vietnam, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+0.4% per year) and Vietnam (+5.8% per year).

Export Prices by Country

The average benzol, toluol and xylol export price stood at $X per ton in 2021, with an increase of 65% against the previous year. In general, the export price, however, continues to indicate a pronounced curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Malaysia ($X per ton) and Pakistan ($X per ton), while the average price for exports to Singapore ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+1.6%), while the prices for the other major destinations experienced a decline.

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

Imports into Thailand

In 2021, overseas purchases of benzol (benzene), toluol (toluene) and xylol (xylenes) decreased by -99.4% to X tons, falling for the third consecutive year after three years of growth. Overall, imports showed a sharp descent. The pace of growth was the most pronounced in 2018 with an increase of 475%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, benzol, toluol and xylol imports plummeted to $X in 2021. Over the period under review, imports showed a dramatic curtailment. The growth pace was the most rapid in 2018 when imports increased by 653% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest benzol, toluol and xylol supplier to Thailand, accounting for a 64% share of total imports. Moreover, benzol, toluol and xylol imports from South Korea exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled -46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+232.0% per year) and the United States (-41.6% per year).

In value terms, the United States ($X), South Korea ($X) and the United Arab Emirates ($X) were the largest benzol, toluol and xylol suppliers to Thailand, together comprising 95% of total imports.

The United Arab Emirates, with a CAGR of +70.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average benzol, toluol and xylol import price stood at $X per ton in 2021, growing by 167% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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