Benzol, Toluol And Xylol Market

The article discusses the declining demand for benzol, toluol, and xylol worldwide, with forecasts indicating a negative trend in market volume and value. Despite fluctuations in consumption and production, overall trends suggest a decrease in demand for these chemicals. The highest levels of consumption, production, imports, and exports are outlined for various countries, with notable growth rates and fluctuations in prices recorded over the years.

Market Forecast

Depressed by shrinking demand for benzol, toluol and xylol worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -4.8% for the period from 2022 to 2030, which is projected to depress the market volume to 6M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -1.7% for the period from 2022 to 2030, which is projected to bring the market value to $8.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes)

In 2022, consumption of benzol (benzene), toluol (toluene) and xylol (xylenes) increased by 14% to 9M tons, rising for the second year in a row after four years of decline. In general, consumption, however, showed a perceptible contraction. Global consumption peaked at 12M tons in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global benzol, toluol and xylol market value skyrocketed to $9.9B in 2022, picking up by 18% 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). Overall, consumption, however, saw a abrupt slump. Global consumption peaked at $21.3B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (2M tons), the Netherlands (1.1M tons) and China (976K tons), with a combined 45% share of global consumption. Japan, India, South Korea, Russia, Finland, Taiwan (Chinese), Portugal, Nigeria and Brazil lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Finland (with a CAGR of +23.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.4B) led the market, alone. The second position in the ranking was taken by the Netherlands ($988M). It was followed by China.

In the United States, the benzol, toluol and xylol market increased at an average annual rate of +7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+3.3% per year) and China (+8.4% per year).

In 2022, the highest levels of benzol, toluol and xylol per capita consumption was registered in the Netherlands (64 kg per person), followed by Finland (29 kg per person), Portugal (15 kg per person) and Taiwan (Chinese) (6.5 kg per person), while the world average per capita consumption of benzol, toluol and xylol was estimated at 1.1 kg per person.

From 2012 to 2022, the average annual growth rate of the benzol, toluol and xylol per capita consumption in the Netherlands totaled +4.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Finland (+23.4% per year) and Portugal (+12.4% per year).

Production

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

In 2022, global production of benzol (benzene), toluol (toluene) and xylol (xylenes) reduced modestly to 8.5M tons, declining by -4.8% on the year before. Overall, production saw a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Global production peaked at 10M tons in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, benzol, toluol and xylol production reduced to $8.3B in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by 35%. Over the period under review, global production reached the peak level at $18.9B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

Japan (2M tons) remains the largest benzol, toluol and xylol producing country worldwide, comprising approx. 23% of total volume. Moreover, benzol, toluol and xylol production in Japan exceeded the figures recorded by the second-largest producer, the United States (560K tons), fourfold. The third position in this ranking was taken by India (432K tons), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume in Japan amounted to +6.1%. In the other countries, the average annual rates were as follows: the United States (-6.3% per year) and India (-5.6% per year).

Imports

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

Global benzol, toluol and xylol imports expanded remarkably to 6.4M tons in 2022, with an increase of 12% against the previous year. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzol, toluol and xylol imports skyrocketed to $5.3B in 2022. Overall, imports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. Over the period under review, global imports hit record highs at $6.4B in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

The countries with the highest levels of benzol, toluol and xylol imports in 2022 were the United States (1,464K tons), the Netherlands (1,040K tons), China (1,009K tons), Belgium (744K tons), South Korea (598K tons) and Taiwan (Chinese) (485K tons), together reaching 84% of total import. Germany (275K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +16.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest benzol, toluol and xylol importing markets worldwide were China ($1B), the Netherlands ($967M) and Belgium ($730M), together comprising 51% of global imports.

Belgium, with a CAGR of +13.2%, saw the highest growth rate of the value of imports, in terms of 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 benzol, toluol and xylol import price amounted to $841 per ton, growing by 15% against the previous year. Over the period under review, the import price, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2021 an increase of 46% against the previous year. Global import price peaked at $1,178 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 China ($1,022 per ton), while the United States ($428 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-0.8%), while the other global leaders experienced a decline in the import price figures.

Exports

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

In 2022, approx. 5.9M tons of benzol (benzene), toluol (toluene) and xylol (xylenes) were exported worldwide; waning by -12.4% against the previous year. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 29% against the previous year. Over the period under review, the global exports reached the maximum at 6.8M tons in 2021, and then fell in the following year.

In value terms, benzol, toluol and xylol exports reached $5.6B in 2022. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +92.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 68%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, Japan (1.5M tons), distantly followed by Belgium (759K tons), South Korea (704K tons), Germany (601K tons), Taiwan (Chinese) (331K tons), Saudi Arabia (280K tons) and the Netherlands (279K tons) represented the largest exporters of benzol (benzene), toluol (toluene) and xylol (xylenes), together committing 74% of total exports. France (221K tons), Thailand (147K tons), Austria (119K tons), the UK (109K tons) and Russia (103K tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +18.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($1.2B), Belgium ($753M) and South Korea ($732M) were the countries with the highest levels of exports in 2022, together accounting for 49% of global exports. Germany, Taiwan (Chinese), the Netherlands, Saudi Arabia, France, Thailand, Austria, the UK and Russia lagged somewhat behind, together accounting for a further 37%.

Taiwan (Chinese), with a CAGR of +14.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average benzol, toluol and xylol export price amounted to $940 per ton, increasing by 30% against the previous year. In general, the export price, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 48%. The global export price peaked at $1,114 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($1,053 per ton), while Russia ($597 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.6%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform