Republic of Korea: Market for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) 2024

Market Size for Benzol (Benzene), Toluol (Toluene) And Xylol (Xylenes) in Republic of Korea

In 2022, the South Korean benzol, toluol and xylol market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption faced a abrupt decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

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

In value terms, benzol, toluol and xylol production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. Benzol, toluol and xylol production peaked in 2022 and is expected to retain growth in the near future.

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

Exports from Republic of Korea

In 2022, the amount of benzol (benzene), toluol (toluene) and xylol (xylenes) exported from South Korea rose sharply to X tons, picking up by X% on 2021. Over the period under review, exports showed strong growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, benzol, toluol and xylol exports soared to $X in 2022. In general, exports showed a prominent expansion. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of benzol, toluol and xylol exports from South Korea, together comprising X% of total exports. Taiwan (Chinese), India, Malaysia and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X), China ($X) and Singapore ($X) were the largest markets for benzol, toluol and xylol exported from South Korea worldwide, together accounting for X% of total exports. Taiwan (Chinese), India, Malaysia and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of 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 average benzol, toluol and xylol export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, showed a mild decrease. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and India ($X per ton), while the average price for exports to Singapore ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Republic of Korea

Benzol, toluol and xylol imports into South Korea dropped sharply to X tons in 2022, waning by X% on the previous year. Overall, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, benzol, toluol and xylol imports declined to $X in 2022. Over the period under review, imports recorded a deep downturn. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) was the main supplier of benzol, toluol and xylol to South Korea, with a X% share of total imports. It was followed by Indonesia (X tons), with a X% share of total imports. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and China (X% per year).

In value terms, Japan ($X) constituted the largest supplier of benzol (benzene), toluol (toluene) and xylol (xylenes) to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average benzol, toluol and xylol import price amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Japan ($X per ton), while the price for Indonesia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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