Aromatic Hydrocarbons Derivatives Market

The article examines the increasing demand for halogenated derivatives of aromatic hydrocarbons globally, with the market expected to grow in volume and value terms. Detailed analysis of consumption, production, imports, and exports trends from 2012 to 2022 is provided, highlighting key countries and growth rates. China emerges as a significant player in both production and exports, while the United States and India show strong growth in imports. Prices and growth rates vary by country, with overall market performance forecasted to continue on an upward trajectory in the coming years.

Market Forecast

Driven by increasing demand for halogenated derivatives of aromatic hydrocarbons worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +8.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +12.8% for the period from 2022 to 2030, which is projected to bring the market value to $7.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Halogenated Derivatives Of Aromatic Hydrocarbons

In 2022, consumption of halogenated derivatives of aromatic hydrocarbons was finally on the rise to reach 657K tons after four years of decline. Overall, consumption recorded a noticeable expansion. As a result, consumption reached the peak volume of 1.6M tons. From 2016 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global aromatic hydrocarbons derivatives market value was estimated at $2.9B in 2022, rising by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a notable increase. As a result, consumption attained the peak level of $5.4B. From 2016 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (97K tons), the United States (84K tons) and Japan (45K tons), together comprising 34% of global consumption. Germany, the Netherlands, Belgium, India, Indonesia, Italy, Nigeria, Mexico, Brazil and Pakistan lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Nigeria (with a CAGR of +16.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($437M) led the market, alone. The second position in the ranking was held by the United States ($211M). It was followed by Italy.

In China, the aromatic hydrocarbons derivatives market increased at an average annual rate of +14.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.4% per year) and Italy (+13.3% per year).

The countries with the highest levels of aromatic hydrocarbons derivatives per capita consumption in 2022 were Belgium (1,924 kg per 1000 persons), the Netherlands (1,358 kg per 1000 persons) and Japan (363 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +13.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Halogenated Derivatives Of Aromatic Hydrocarbons

In 2022, global production of halogenated derivatives of aromatic hydrocarbons stood at 621K tons, approximately reflecting the previous year. Over the period under review, production enjoyed a moderate increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 169% against the previous year. As a result, production attained the peak volume of 1.5M tons. From 2016 to 2022, global production growth remained at a somewhat lower figure.

In value terms, aromatic hydrocarbons derivatives production totaled $3B in 2022 estimated in export price. Overall, production recorded measured growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 91%. As a result, production reached the peak level of $5.5B. From 2016 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The country with the largest volume of aromatic hydrocarbons derivatives production was China (196K tons), accounting for 32% of total volume. Moreover, aromatic hydrocarbons derivatives production in China exceeded the figures recorded by the second-largest producer, Germany (74K tons), threefold. India (55K tons) ranked third in terms of total production with an 8.8% share.

In China, aromatic hydrocarbons derivatives production expanded at an average annual rate of +7.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Germany (-0.6% per year) and India (+17.9% per year).

Imports

World Imports of Halogenated Derivatives Of Aromatic Hydrocarbons

Global aromatic hydrocarbons derivatives imports expanded sharply to 472K tons in 2022, surging by 14% compared with the year before. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 14%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, aromatic hydrocarbons derivatives imports soared to $1.7B in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (111K tons), distantly followed by Japan (69K tons), India (43K tons), Belgium (42K tons), Germany (33K tons) and the Netherlands (23K tons) represented the largest importers of halogenated derivatives of aromatic hydrocarbons, together committing 68% of total imports. China (19K tons), Mexico (14K tons), Cambodia (12K tons), Brazil (10K tons), Italy (8.8K tons), Indonesia (8.4K tons) and South Korea (8K tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +23.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($278M), India ($210M) and Japan ($176M) were the countries with the highest levels of imports in 2022, together comprising 39% of global imports.

India, with a CAGR of +23.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average aromatic hydrocarbons derivatives import price amounted to $3,614 per ton, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2018 when the average import price increased by 15%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($11,258 per ton), while Indonesia ($1,795 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Halogenated Derivatives Of Aromatic Hydrocarbons

Global aromatic hydrocarbons derivatives exports declined modestly to 435K tons in 2022, flattening at the previous year. The total export volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 11%. As a result, the exports attained the peak of 437K tons, leveling off in the following year.

In value terms, aromatic hydrocarbons derivatives exports surged to $1.6B in 2022. Over the period under review, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 25% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, China (119K tons), distantly followed by Germany (78K tons), India (76K tons), Belgium (67K tons), the United States (27K tons) and Japan (23K tons) were the main exporters of halogenated derivatives of aromatic hydrocarbons, together constituting 90% of total exports. South Korea (16K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by South Korea (with a CAGR of +36.0%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($737M) remains the largest aromatic hydrocarbons derivatives supplier worldwide, comprising 46% of global exports. The second position in the ranking was held by India ($177M), with an 11% share of global exports. It was followed by the United States, with an 11% share.

In China, aromatic hydrocarbons derivatives exports expanded at an average annual rate of +8.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: India (+15.4% per year) and the United States (+5.5% per year).

Export Prices By Country

The average aromatic hydrocarbons derivatives export price stood at $3,701 per ton in 2022, jumping by 21% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($6,394 per ton), while Germany ($1,652 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform