M-Xylene And Xylenes Market

The article discusses the forecasted decline in the global market for m-xylene and xylenes over the period from 2022 to 2030. It highlights the decrease in consumption, production, imports, and exports of these chemicals, providing insights into the key countries driving the market. The data shows fluctuations in market values, volumes, and prices, indicating a challenging future for the industry.

Market Forecast

Depressed by shrinking demand for m-xylene and xylenes worldwide, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -0.1% for the period from 2022 to 2030, which is projected to depress the market volume to 2.5M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market value to $3.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of M-Xylene And Mixed Xylene Isomers

In 2022, consumption of m-xylene and mixed xylene isomers increased by 17% to 2.5M tons, rising for the second year in a row after eight years of decline. Overall, consumption, however, recorded a noticeable slump. Global consumption peaked at 3.5M tons in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global m-xylene and xylenes market size soared to $3.3B 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). Over the period under review, consumption, however, saw a pronounced slump. Over the period under review, the global market attained the maximum level at $4.8B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (348K tons), China (300K tons) and Belgium (295K tons), together comprising 38% of global consumption. Canada, Portugal, India, the United Arab Emirates, Spain, Singapore, Germany, Japan, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Singapore (with a CAGR of +91.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Spain ($350M), the United States ($336M) and India ($335M) constituted the countries with the highest levels of market value in 2022, together comprising 31% of the global market. China, Belgium, Germany, Canada, the United Arab Emirates, Singapore, Portugal, Taiwan (Chinese), Japan and Indonesia lagged somewhat behind, together accounting for a further 42%.

Among the main consuming countries, Singapore, with a CAGR of +84.1%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of m-xylene and xylenes per capita consumption in 2022 were Belgium (25 kg per person), Singapore (15 kg per person) and Portugal (13 kg per person).

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +89.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of M-Xylene And Mixed Xylene Isomers

In 2022, approx. 1.7M tons of m-xylene and mixed xylene isomers were produced worldwide; with a decrease of -4.9% compared with 2021 figures. Overall, production showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 23%. Global production peaked at 4.4M tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, m-xylene and xylenes production dropped slightly to $2.3B in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 13%. Over the period under review, global production hit record highs at $5.8B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (263K tons), the United States (259K tons) and Portugal (135K tons), together accounting for 39% of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Portugal (with a CAGR of +29.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of M-Xylene And Mixed Xylene Isomers

In 2022, purchases abroad of m-xylene and mixed xylene isomers increased by 60% to 1.3M tons, rising for the second year in a row after six years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. Global imports peaked at 1.4M tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, m-xylene and xylenes imports skyrocketed to $1.3B in 2022. Overall, imports, however, recorded a noticeable downturn. Over the period under review, global imports reached the maximum at $1.6B in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, Belgium (375K tons), distantly followed by the United Arab Emirates (199K tons), the United States (166K tons), Canada (148K tons) and Singapore (85K tons) were the key importers of m-xylene and mixed xylene isomers, together committing 77% of total imports. China (46K tons), Malaysia (30K tons), the Netherlands (20K tons) and South Africa (20K tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +20.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($383M), the United Arab Emirates ($195M) and Canada ($166M) appeared to be the countries with the highest levels of imports in 2022, with a combined 58% share of global imports. The United States, Singapore, China, Malaysia, the Netherlands and South Africa lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, Malaysia, with a CAGR of +19.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average m-xylene and xylenes import price stood at $1,011 per ton in 2022, picking up by 34% against the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. Global import price peaked at $1,271 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($1,451 per ton), while the United States ($542 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of M-Xylene And Mixed Xylene Isomers

In 2022, shipments abroad of m-xylene and mixed xylene isomers increased by 7.5% to 489K tons, rising for the second year in a row after eight years of decline. Overall, exports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 9%. Over the period under review, the global exports hit record highs at 2.3M tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, m-xylene and xylenes exports skyrocketed to $650M in 2022. Over the period under review, exports, however, faced a abrupt curtailment. Over the period under review, the global exports attained the maximum at $2.9B in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

The biggest shipments were from Belgium (80K tons), the United States (77K tons), Israel (70K tons), the United Arab Emirates (68K tons) and Iran (48K tons), together reaching 70% of total export. It was distantly followed by Japan (32K tons) and Algeria (28K tons), together constituting a 12% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +48.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($182M), Belgium ($107M) and the United Arab Emirates ($88M) were the countries with the highest levels of exports in 2022, together comprising 58% of global exports.

The United Arab Emirates, with a CAGR of +43.1%, saw the highest rates of growth with regard to the value of exports, among 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

The average m-xylene and xylenes export price stood at $1,329 per ton in 2022, jumping by 39% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($2,365 per ton), while Iran ($506 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform