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

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

The Vietnamese benzol, toluol and xylol market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, recorded a abrupt slump. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, benzol, toluol and xylol production surged to $X in 2021 estimated in export price. In general, production, however, showed a deep slump. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

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

Exports from Vietnam

In 2021, overseas shipments of benzol (benzene), toluol (toluene) and xylol (xylenes) increased by 18% to X tons, rising for the fourth consecutive year after four years of decline. In general, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 131%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, benzol, toluol and xylol exports soared to $X in 2021. Overall, exports enjoyed tangible growth. The pace of growth was the most pronounced in 2018 when exports increased by 162%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for benzol, toluol and xylol exports from Vietnam, accounting for a 72% share of total exports. Moreover, benzol, toluol and xylol exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, China (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Taiwan (Chinese) stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+65.6% per year) and Cambodia (-31.0% per year).

In value terms, the largest markets for benzol, toluol and xylol exported from Vietnam were Taiwan (Chinese) ($X), China ($X) and Cambodia ($X), together comprising 100% of total exports.

China, with a CAGR of +72.8%, 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 mixed trend patterns.

Export Prices by Country

The average benzol, toluol and xylol export price stood at $X per ton in 2021, surging by 74% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Taiwan (Chinese) (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Vietnam

In 2021, purchases abroad of benzol (benzene), toluol (toluene) and xylol (xylenes) increased by 40% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 98% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, benzol, toluol and xylol imports skyrocketed to $X in 2021. In general, imports continue to indicate a perceptible expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of benzol, toluol and xylol imports to Vietnam, together comprising 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +51.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the largest benzol, toluol and xylol suppliers to Vietnam, together accounting for 88% of total imports.

Among the main suppliers, Thailand, with a CAGR of +44.8%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average benzol, toluol and xylol import price amounted to $X per ton, surging by 28% against the previous year. Overall, the import price, however, recorded a noticeable setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Japan ($X per ton) and South Korea ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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