Toluene Prices December 2023
Product
|
Category |
Region |
Price |
Toluene |
Chemical |
USA |
1030 USD/MT |
Toluene |
Chemical |
South Korea |
800 USD/MT |
Toluene |
Chemical |
Belgium |
980 USD/MT |
Toluene |
Chemical |
Saudi Arabia |
1151 USD/MT |
In Q4 2023, the USA saw a declining market due to inventory pressure, as upstream stocks declined to two-year low levels. No plant shutdowns were reported during this period. The already bearish market conditions were intensified by seasonally low demand for naphtha, resulting in the lowest cash prices for heavy virgin naphtha (HVN) on the US Gulf coast in a year.
In Q4 2023, South Korea saw prices considerably change, mainly because of quite low demand that led to moderate supply from, for instance, the paint and coatings industry. Fluctuations of toluene prices in South Korea in the recent quarter were not demonstrated in a contrastive manner, with a price change of -2% for the first half and -18% for the second half of the quarter. In the context of the last quarter of 2020, the toluene CFR Busan in Korea South has been seen for USD 800/MT. Toluene prices in the APAC region were impacted by the global economic slowdown, seasonal winter conditions, and limited market activity, resulting in a bearish trend.
In Q4 2023, Belgium witnessed a southward drift in toluene prices, which was moved by different factors within the economy at large and left the quarter with moderate supply and demand. The fall in output was explained by activity in the production process of manufacturing consumer products and intermediates. Throughout the quarter, they observed that the downstream sectors, such as TDI, coatings, and adhesives, experienced weak demand.
In Q4 2023, Saudi Arabia saw toluene prices decline due to soft demand and rising inventories, driven by increased imports from countries like China. High inventory levels intensified price pressure, with no major plant shutdowns reported. The Red Sea disturbance may affect oil shipments, potentially influencing spot crude prices. The latest recorded price of Toluene CFR-AL Jubail in Saudi Arabia during Q4 2023 was USD 1151/MT.
Toluene Price Trend, Market Analysis, and News
IMARC’s newly published report, titled Toluene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of toluene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing toluene price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Toluene Market Analysis
The global toluene market size reached US$ 28.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 44 Billion, at a projected CAGR of 4.60 % during 2023-2032.
- The automotive and construction industries are expanding, which is increasing the demand for toluene-based products such as paints, coatings, and adhesives.
- The growing awareness of environmental concerns is prompting the development and adoption of eco-friendly toluene derivatives.
- Ongoing technological advancements in toluene production and processing are enhancing efficiency and reducing costs, contributing to market expansion.
- The growing versatility of toluene in the production of polymers, resins, and rubber compounds sustains its demand across various industrial applications.
- Rising stringency in regulatory policies and government initiatives aimed at promoting the use of toluene-based products in sustainable applications, such as renewable energy technologies and green chemistry.
- The extensive research and development activities aimed at exploring new applications and derivatives of toluene is fostering innovation and opening new avenues for market growth.
- Augmenting demand for toluene in the manufacturing of explosives, dyes, and perfumes underscores its importance across diverse industries.
- Strategic collaborations and partnerships among key industry players for capacity expansions, technology advancements, and market penetration initiatives play a crucial role in shaping the competitive landscape.
- The rate of toluene blending in specialty fuels such as aviation gasoline and racing gasoline to boost octane levels and fuel efficiency is rising. For example, the National Library of Medicine cites a study that toluene presents as an odorless colorless liquid with the prevalent characteristic smell. Flashpoint 40 °F. Having a density lower than water, with 7.2 lb/gal, and no solubility in water, vapors that are heavier than air in their density. Utilized in jet and auto fuels, to dissolve various substances, or to make other chemicals.
- The augmenting demand for toluene in the production of polyurethane foams, resins, and plastics for various applications, including insulation, packaging, and furniture, underscores its importance in the construction and consumer goods sectors.
- Electronics and semiconductor manufacturing sectors utilize toluene in the production of specialty chemicals and electronic materials.
- Rapid urbanization and infrastructure development fuel demand for toluene-based materials in the construction sector, such as asphalt modifiers and sealants.
- The expanding cosmetics and personal care industry utilizes toluene in the formulation of fragrances, nail polish, and hair care products.
Toluene News
The report covers the latest developments, updates, and trends impacting the global toluene market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in toluene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.
Latest developments in the toluene industry:
- In September 5, 2023, British Petroleum secured its third long-term LNG offtake contract from Woodfibre's British Columbia LNG facility, committing all output for sale. This expands BP's LNG portfolio and supports energy transition and security amidst the growing importance of LNG.
- In October 31, 2023, Versalis, Eni’s chemical company, collaborates with S.R.S. to build a demo plant in Mantua for Hoop, a chemical recycling technology for mixed plastic waste. Partnering with Corepla, the project aims to enhance post-consumer plastic value, integrating with Technip Energies' pyrolysis product purification technologies. The Hoop demo plant, scheduled to operate by 2024-end, will handle 6,000 tonnes of secondary raw material.
- In March 25, 2024, Cepsa launched its Digitalization Plan at the San Roque Energy Park, investing €13 million to implement 5G, IIoT, and AI for efficiency and safety. This initiative positions Cepsa as a highly digitalized and interconnected leader in the energy sector, optimizing operations and enhancing user experience.
Product Description
Toluene is a low-boiling, colorless, and insoluble water liquid that belongs to the aromatic hydrocarbons group and is obtained mainly from oil or during petroleum refining and coal tar distillation. The stipulated process for its production refers to the catalytic reforming or pyrolysis of petroleum fractions, which gives toluene as a by-product. As the simplest aromatic compound, toluene occupies an important place in the industrial area, being used in various services, for example, decorating materials and products, rubber, and adhesives.
Toluene is also known for its high-octane rating, which makes it an important ingredient in gasoline. It is only used to improve fuel performance and combustion efficiency. Aside from its industrial interest, toluene is also used in drug production as a synopsis of active pharmaceutical ingredients and as a precursor for the chemical synthesis of benzene and xylene.
Furthermore, toluene is a key component in the production of explosives (including rocket propellants), dyes, perfumes (including scents), and electronic materials and, as such, has multifunctionality in the industrial sector. It is first capable of dissolving many substances, then it becomes an octane-grade fuel booster, and later, it helps create valuable chemicals and materials.
Regional Coverage
The report provides a detailed analysis of the toluene market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.
Global Toluene Price
The report offers a holistic view of the global toluene pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Toluene Price
The European area saw toluene prices head south; they followed the influence of a variety of factors, and the moderate supply and demand led to a bearish quarter. The reason for the drop in production was revealed to be due to a decline in economic activity owing to a decrease in the manufacturing of consumer goods and intermediaries. And as, for the quarter, TDI, paint, and adhesives sectors have reported weak demand. The last quarter of the year was marked by a slowdown in production and less optimistic demand for the commodities that were TDI, coatings, and adhesives. Trading activity was reduced, and supply in the Red Sea became less uncertain. The disruption had high fuel, and its impacts were expected to go on through January.
This analysis can be extended to include detailed toluene price information for a comprehensive list of countries.
Region |
Countries Covered |
Europe |
Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Toluene Price
The Toluene market, especially in North America, fell due to specific obstacles. Crude oil prices started to come down due to political tensions between Hamas and Israel and also due to the last quarter's high-interest rates from the Federal Reserve. Moreover, the appreciation of the US dollar against the euro reduced its exports to European countries such as the Netherlands. As a result, although the seasonal fluctuations were rather stable, the rest of the industries that relied on paints, coating, and solvents did not keep up with that demand.
Specific data on toluene prices within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
Middle East and Africa Toluene Price
Prices of toluene in the Middle East and Africa region registered a decrease overall, by and large due to the stabilization of demand from downstream sectors including the manufacture of adhesives, disinfectants, and toluene di isocyanate. The pragmatism of this demand deficiency ends up in stock heaping and prices declining at this point.
In addition to region-wise data, information on toluene prices for countries can also be provided.
Region |
Countries Covered |
Middle East and Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Aisa Pacific Toluene Price
In the APAC region, toluene prices are affected by multiple factors. Initially, low production rates and a diminished demand outlook from downstream industries, such as TDI, coatings, and adhesives, were evident towards the end of the quarter, as the quarter was coming to an end. Furthermore, the supply of toluene remained in the middle ground in the region as local refineries ran at the top of their production capacity. Despite continued demand from downstream industries, e.g., paints, coatings, and solvent manufacturing, the demand outlook has been slow during this period.
This analysis can be further extended to include detailed toluene prices for a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Toluene Price
The analysis of toluene prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
Key Attributes |
Details |
Product Name |
Toluene |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece*
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru*
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Product Portfolio
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of toluene pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting toluene price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the toluene industry.