United Kingdom: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in the UK

The UK aromatic hydrocarbons derivatives market skyrocketed to $X in 2021, with an increase of 18% against the previous year. Overall, consumption, however, saw prominent growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Aromatic Hydrocarbons Derivatives Production in the UK

In value terms, aromatic hydrocarbons derivatives production reduced to $X in 2021 estimated in export price. Overall, production continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports from the UK

In 2021, shipments abroad of halogenated derivatives of aromatic hydrocarbons decreased by -40.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a notable expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 185% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives exports reduced rapidly to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 45% against the previous year. The exports peaked at $X in 2020, and then reduced notably in the following year.

Exports by Country

Hungary (X tons) was the main destination for aromatic hydrocarbons derivatives exports from the UK, accounting for a 26% share of total exports. Moreover, aromatic hydrocarbons derivatives exports to Hungary exceeded the volume sent to the second major destination, Poland (X tons), twofold. Belgium (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hungary totaled +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+121.3% per year) and Belgium (+7.7% per year).

In value terms, the largest markets for aromatic hydrocarbons derivatives exported from the UK were France ($X), Hungary ($X) and Japan ($X), with a combined 45% share of total exports. These countries were followed by Germany, Belgium, Italy, Libya, Poland, Greece, Ireland, Thailand and Denmark, which together accounted for a further 23%.

Libya, with a CAGR of +204.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2014 when the average export price increased by 65%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Thailand ($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 Japan (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Hydrocarbons Derivatives Imports

Imports into the UK

In 2021, purchases abroad of halogenated derivatives of aromatic hydrocarbons decreased by -9.4% to X tons, falling for the third consecutive year after three years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 38% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives imports surged to $X in 2021. Overall, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Belgium (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of aromatic hydrocarbons derivatives imports to the UK, together accounting for 86% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +73.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to the UK, comprising 53% of total imports. The second position in the ranking was held by Belgium ($X), with a 25% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +33.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+8.6% per year) and the Netherlands (+80.9% per year).

Import Prices by Country

The average aromatic hydrocarbons derivatives import price stood at $X per ton in 2021, jumping by 28% against the previous year. In general, the import price recorded a strong expansion. The growth pace was the most rapid in 2020 an increase of 35% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Poland ($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 Netherlands (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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