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Benzene Market Report: Production, Trade, Industry Trends and Forecast to 2030 - IndexBox

IndexBox, Inc.
IndexBox, Inc.

Companies Mentioned in the Report: LyondellBasell, Dow, INEOS Group, BASF, Sabic, Chevron Phillips Chemical, SAE Manufacturing Specialties Corp, The Chemical Co., Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, Azerkhimija, Borealis AG, BP Plc, Braskem, Petrochemical Company, GM Chemical Co., Qingdao Wangtai Catalyst Co., Struchem Co.

NEW YORK, April 20, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'EU – Benzene - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

EU Benzene Market Statistics

Imports

$3,125.0 Million USD

Exports

$2,021.5 Million USD

Top Importers

Belgium, Netherlands, Germany

Top Exporters

Netherlands, Germany, Belgium

The EU benzene market soared to $11.3B in 2021, growing by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $12.2B in 2007; however, from 2008 to 2021, consumption remained at a lower figure. REQUEST FREE DATA

EU Benzene Production

In 2021, after two years of decline, there was growth in production of benzene, when its volume increased by 2.5% to 6.4M tonnes. Overall, production, however, continues to indicate a mild shrinkage. The growth pace was the most rapid in 2011 with an increase of 9.7% y-o-y. Over the period under review, production attained the maximum volume at 7.7M tonnes in 2007; however, from 2008 to 2021, production stood at a somewhat lower figure. REQUEST FREE DATA

In value terms, benzene production rose remarkably to $9.2B in 2021 estimated in export prices. In general, production, however, continues to indicate a slight setback. Over the period under review, production reached the peak level at $11.9B in 2014; however, from 2015 to 2021, production remained at a lower figure. REQUEST FREE DATA

Production by Country

The countries with the highest volumes of benzene production in 2021 were Germany (1.2M tonnes), Belgium (954K tonnes) and the Netherlands (692K tonnes), with a combined 44% share of total production.

From 2007 to 2021, the most notable rate of growth in terms of benzene production, amongst the main producing countries, was attained by Belgium, while benzene production for the other leaders experienced more modest paces of growth.

EU Benzene Exports

In 2021, after three years of decline, there was significant growth in overseas shipments of benzene, when their volume increased by 38% to 2.3M tonnes. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, exports hit record highs at 2.6M tonnes in 2013; however, from 2014 to 2021, exports failed to regain the momentum.

In value terms, benzene exports soared to $2B in 2021. In general, exports, however, continue to indicate a mild shrinkage. Over the period under review, exports attained the maximum at $3.4B in 2014; however, from 2015 to 2021, exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of benzene, namely Belgium, the Netherlands and Germany, represented more than two-thirds of total export. Poland (142K tonnes) occupied the next position in the ranking, followed by France (140K tonnes) and Hungary (135K tonnes). All these countries together took approx. 18% share of total exports. Slovakia (53K tonnes) took a relatively small share of total exports.

From 2007 to 2021, the biggest increases were in Slovakia, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest benzene supplying countries in the European Union were the Netherlands ($561M), Germany ($466M) and Belgium ($370M), together accounting for 69% of total exports. These countries were followed by Poland, France, Hungary and Slovakia, which together accounted for a further 23%.

Export Prices by Country

In 2021, the benzene export price in the European Union amounted to $893 per tonne, increasing by 33% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($1,063 per tonne), while Belgium ($624 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Hungary, while the other leaders experienced more modest paces of growth.

EU Benzene Imports

Benzene imports soared to 3.2M tonnes in 2021, increasing by 48% against 2020 figures. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzene imports surged to $3.1B in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $3.9B in 2013; however, from 2014 to 2021, imports failed to regain the momentum.

Imports by Country

Belgium (1,008K tonnes) and the Netherlands (726K tonnes) represented roughly 55% of total imports of benzene in 2021. Germany (370K tonnes) ranks next in terms of the total imports with a 12% share, followed by Spain (10%), Italy (6.3%) and Portugal (5.9%). France (139K tonnes) occupied a minor share of total imports.

From 2007 to 2021, the biggest increases were in Portugal, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest benzene importing markets in the European Union were Belgium ($991M), the Netherlands ($769M) and Germany ($375M), with a combined 68% share of total imports. These countries were followed by Spain, Italy, Portugal and France, which together accounted for a further 28%.

Import Prices by Country

The benzene import price in the European Union stood at $983 per tonne in 2021, rising by 56% against the previous year. Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Netherlands ($1,059 per tonne) and Portugal ($1,057 per tonne), while France ($929 per tonne) and Belgium ($984 per tonne) were amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced mixed trends in the import price figures.

About IndexBox

IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.

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Product Coverage

Benzene.

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CONTACT: Contact Information Mekhrona Dzhuraeva Editor media@indexbox.io