United Kingdom: Toluene Market 2024

Toluene Market Size in the UK

The UK toluene market shrank slightly to $X in 2021, declining by -4.7% against the previous year. Overall, consumption saw a pronounced setback. Toluene consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Toluene Production in the UK

In value terms, toluene production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. Toluene production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Toluene Exports

Exports from the UK

In 2021, approx. X tons of toluene were exported from the UK; declining by -27.9% against the year before. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 439%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, toluene exports skyrocketed to $X in 2021. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 318% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for toluene exports from the UK, accounting for a 60% share of total exports. Moreover, toluene exports to Ireland exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland amounted to -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+55.3% per year) and Germany (+18.1% per year).

In value terms, Ireland ($X) remains the key foreign market for toluene exports from the UK, comprising 40% of total exports. The second position in the ranking was taken by Japan ($X), with a 20% share of total exports. It was followed by Belgium, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Ireland totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+84.6% per year) and Belgium (+5.8% per year).

Export Prices by Country

The average toluene export price stood at $X per ton in 2021, with an increase of 105% against the previous year. Overall, the export price showed a measured increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the Netherlands ($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 Belgium (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Toluene Imports

Imports into the UK

Toluene imports into the UK contracted significantly to X tons in 2021, which is down by -25.8% against the previous year. In general, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2019 when imports increased by 45% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, toluene imports rose markedly to $X in 2021. Over the period under review, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 38%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest toluene supplier to the UK, with a 80% share of total imports. Moreover, toluene imports from Spain exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at -11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+15.8% per year) and Ireland (-22.6% per year).

In value terms, Spain ($X) constituted the largest supplier of toluene to the UK, comprising 77% of total imports. The second position in the ranking was taken by Belgium ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled -15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.9% per year) and Ireland (-14.1% per year).

Import Prices by Country

The average toluene import price stood at $X per ton in 2021, with an increase of 49% against the previous year. Overall, the import price, however, saw a perceptible decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+11.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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