Updated Sep 28, 2022 13:55

Cyclic Hydrocarbons Market in China

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
In , the Chinese cyclic hydrocarbons market was finally on the rise to reach $ for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a tangible expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2018 indices. Cyclic hydrocarbons consumption peaked at $ in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , consumption of cyclic hydrocarbons was finally on the rise to reach tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption recorded a pronounced increase. Cyclic hydrocarbons consumption peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.

The size of the cyclic hydrocarbons market in China rose slightly to $ in , picking up by % 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). In general, the total consumption indicated a notable increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. Cyclic hydrocarbons consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for cyclic hydrocarbons in China, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

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


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
Cyclic hydrocarbons market in China consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
China remains a net importer of cyclic hydrocarbons; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.