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 released a new report: ‘EU – Benzene – Market Analysis, Forecast, Size, Trends and Prospects’. Here is a summary of the main findings of the report.
EU Benzene Market statistics
Belgium, Netherlands, Germany
Netherlands, Germany, Belgium
The European benzene market soared to $11.3 billion in 2021, growing 15% year-on-year. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediary margins, which will be included in the final consumer price). During the period under review, however, consumption showed a relatively stable trend. The level of consumption peaked at $12.2 billion in 2007; however, from 2008 to 2021 consumption remained at a lower level. REQUEST FREE DATA
Benzene production in the EU
In 2021, after two years of decline, benzene production increased, with its volume increasing by 2.5% to 6.4 million tonnes. Overall, however, production continues to show a slight contraction. The pace of growth was fastest in 2011 with a year-on-year increase of 9.7%. Over the period under review, production reached the maximum volume at 7.7M tonnes in 2007; however, from 2008 to 2021 production was at a slightly lower figure. REQUEST FREE DATA
In value, benzene production has increased remarkably to reach $9.2 billion in 2021, estimated in export prices. Generally speaking, however, production continues to show a slight decline. Over the period under review, production reached a record level of $11.9 billion in 2014; however, from 2015 to 2021, production remained at a lower figure. REQUEST FREE DATA
Production by country
The countries with the highest benzene production volumes in 2021 were Germany (1.2 million tonnes), Belgium (954,000 tonnes) and the Netherlands (692,000 tonnes), with a combined share of 44% of total production.
From 2007 to 2021, the most notable growth rate in terms of benzene production, among the main producing countries, was achieved by Belgium, while benzene production for the other leaders experienced more modest growth rates. .
EU benzene exports
In 2021, after three years of decline, overseas benzene shipments saw significant growth, with their volume increasing by 38% to 2.3 million tonnes. Overall, however, exports showed a relatively stable trend. During the review period, exports reached record highs of 2.6 million tonnes in 2013; however, from 2014 to 2021, exports have not regained momentum.
In value, benzene exports climbed to $2 billion in 2021. In general, however, exports continue to indicate a slight contraction. Over the period under review, exports peaked at $3.4 billion in 2014; however, from 2015 to 2021, exports remained at a lower level.
Exports by country
Shipments from the three main exporters of benzene, namely Belgium, the Netherlands and Germany, accounted for more than two-thirds of total exports. Poland (142,000 tons) occupied the next position in the ranking, followed by France (140,000 tons) and Hungary (135,000 tons). All these countries together took approx. 18% of total exports. Slovakia (53,000 tonnes) took a relatively small share of total exports.
From 2007 to 2021, the greatest increases were recorded in Slovakia, while shipments from the other leaders experienced more modest growth rates.
In terms of value, the main countries supplying benzene to the European Union were the Netherlands ($561 million), Germany ($466 million) and Belgium ($370 million), together accounting for 69 % of total exports. These countries were followed by Poland, France, Hungary and Slovakia, which together accounted for an additional 23%.
Export prices by country
In 2021, the export price of benzene in the European Union was $893 per ton, up 33% from the previous year. Prices varied significantly by country of origin; the country with the highest price was the Netherlands ($1,063 per ton), while Belgium ($624 per ton) was among the lowest. From 2007 to 2021, the most notable growth rate in terms of prices was achieved by Hungary, while the other leaders experienced more modest growth rates.
EU benzene imports
Benzene imports soared to 3.2 million tonnes in 2021, up 48% from 2020 figures. In general, imports continue to show a relatively stable trend. As a result, imports have peaked and are expected to continue growing for the time being.
In value, benzene imports jumped to $3.1 billion in 2021. During the review period, imports continue to show a relatively stable trend. Over the period under review, imports reached a record figure of 3.9 billion dollars in 2013; however, from 2014 to 2021, imports have not regained momentum.
Imports by country
Belgium (1,008,000 tonnes) and the Netherlands (726,000 tonnes) accounted for around 55% of total benzene imports in 2021. Germany (370,000 tonnes) ranks next in terms of total imports with a share 12%, followed by Spain (10%), Italy (6.3%) and Portugal (5.9%). France (139,000 tonnes) had a minor share of total imports.
From 2007 to 2021, the strongest increases were recorded in Portugal, while the purchases of the other leaders experienced more modest growth rates.
In terms of value, the largest import markets for benzene in the European Union were Belgium ($991 million), the Netherlands ($769 million) and Germany ($375 million), with a combined share of 68% of total imports. These countries were followed by Spain, Italy, Portugal and France, which together accounted for an additional 28%.
Import prices by country
The import price of benzene in the European Union stood at $983 per ton in 2021, up 56% from the previous year. Average prices varied significantly between the main importing countries. In 2021, the main importing countries recorded the following prices: in the Netherlands ($1,059 per ton) and in Portugal ($1,057 per ton), while France ($929 per ton) and Belgium ($984 $ per tonne) were among the lowest. From 2007 to 2021, the most notable growth rate in terms of prices was achieved by the Netherlands, while the other leaders experienced contrasting developments in import price figures.
IndexBox is a market research company developing an AI-powered 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 over 10,000 different products in 200 countries.
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