United Arab Emirates: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2024

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in the United Arab Emirates

In 2021, the benzol, toluol and xylol market in the United Arab Emirates was finally on the rise to reach $X after two years of decline. Overall, consumption showed a notable increase. Benzol, toluol and xylol consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

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

Exports from the United Arab Emirates

In 2021, shipments abroad of benzol (benzene), toluol (toluene) and xylol (xylenes) increased by 122% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports recorded a significant increase. The growth pace was the most rapid in 2020 when exports increased by 157% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, benzol, toluol and xylol exports surged to $X in 2021. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for benzol, toluol and xylol exports from the United Arab Emirates, accounting for a 60% share of total exports. Moreover, benzol, toluol and xylol exports to India exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was held by Pakistan (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India totaled +84.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Pakistan (+39.6% per year).

In value terms, India ($X) emerged as the key foreign market for benzol (benzene), toluol (toluene) and xylol (xylenes) exports from the United Arab Emirates, comprising 61% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 13% share of total exports. It was followed by Pakistan, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +66.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Pakistan (+29.7% per year).

Export Prices by Country

The average benzol, toluol and xylol export price stood at $X per ton in 2021, increasing by 10% against the previous year. In general, the export price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the Philippines ($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 Lebanon (-1.0%), while the prices for the other major destinations experienced a decline.

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

Imports into the United Arab Emirates

In 2021, the amount of benzol (benzene), toluol (toluene) and xylol (xylenes) imported into the United Arab Emirates skyrocketed to X tons, growing by 55% on 2020 figures. Overall, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2016 when imports increased by 133% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, benzol, toluol and xylol imports skyrocketed to $X in 2021. Over the period under review, imports recorded tangible growth. The most prominent rate of growth was recorded in 2016 when imports increased by 134% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest benzol, toluol and xylol supplier to the United Arab Emirates, accounting for a 53% share of total imports. Moreover, benzol, toluol and xylol imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was taken by India (X tons), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to +46.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+68.4% per year) and India (-10.8% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of benzol (benzene), toluol (toluene) and xylol (xylenes) to the United Arab Emirates, comprising 54% of total imports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total imports. It was followed by India, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) totaled +50.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+61.4% per year) and India (-13.5% per year).

Import Prices by Country

In 2021, the average benzol, toluol and xylol import price amounted to $X per ton, picking up by 28% against the previous year. Overall, the import price, however, continues to indicate a pronounced shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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