ASEAN: Benzene Market 2024

Benzene Market Size in ASEAN

The ASEAN benzene market fell modestly to $X in 2022, approximately reflecting the previous year. Overall, consumption continues to indicate a mild slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Benzene Production in ASEAN

In value terms, benzene production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable descent. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Benzene Exports

Exports in ASEAN

In 2022, overseas shipments of benzene increased by X% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzene exports surged to $X in 2022. In general, exports continue to indicate a noticeable increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Brunei Darussalam (X tons) and Thailand (X tons) represented the major exporters of benzene in ASEAN, together accounting for approx. X% of total exports. Malaysia (X tons) ranks next in terms of the total exports with a X% share, followed by Singapore (X%), Vietnam (X%) and Indonesia (X%). The Philippines (X tons) followed a long way behind the leaders.

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

In value terms, the largest benzene supplying countries in ASEAN were Brunei Darussalam ($X), Thailand ($X) and Malaysia ($X), together accounting for X% of total exports. Singapore, Vietnam, Indonesia and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Thailand ($X per ton) and Brunei Darussalam ($X per ton), while the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Benzene Imports

Imports in ASEAN

For the third consecutive year, ASEAN recorded decline in supplies from abroad of benzene, which decreased by X% to X tons in 2022. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, benzene imports declined markedly to $X in 2022. Over the period under review, imports continue to indicate a deep slump. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Singapore (X tons) and Malaysia (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Indonesia (X tons), generating a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest benzene importing markets in ASEAN were Singapore ($X), Malaysia ($X) and Indonesia ($X), with a combined X% share of total imports.

In terms of the main importing countries, Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, saw a slight downturn. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :