Aromatics prices, forecasts and analysis

Aromatics prices, forecasts and analysis

The global aromatics market is diverse and can be affected by a number of factors. Benzene is a highly traded and volatile commodity with a co-product nature – that includes styrene – and unpredictable supply worldwide. Meanwhile, the toluene and xylenes isomer markets are experiencing demand growth and potential oversupply.

But what factors are at play here, what risks might be involved, and how will you know what to look out for now and in the future?

With more than 185 combined years of global petrochemical experience, including more than 150 years directly in the aromatics consulting space, Argus’ experts will help you determine what trends to track and how to stay competitive in today’s ever-changing global markets.

Our coverage

  • Benzene and styrene

    Benzene is a highly traded and volatile commodity as a result of its co-product nature and unpredictable supply. Styrene, benzene’s largest derivative, represents about 50pc of global benzene demand. Anyone involved in the benzene industry – directly or indirectly – needs market and pricing insight in order to anticipate supply shortages and large swings in pricing.

  • Toluene and xylenes

    Toluene and xylenes are highly traded commodities that create a lot of interest in the industry as a result of the various factors that affect demand growth. Outside of their relationship to gasoline markets, the major end-uses for these commodities vary across the world, from polyester fibres and food and beverage packaging to construction. Anyone involved in the toluene and xylenes industries – directly or indirectly – needs insight into how the toluene and xylenes markets can or will impact on their business, from raw material costs or as a price indicator for downstream products.

Featured services

Petrochemicals Argus Media

ARGUS Benzene Daily

See changes to price spreads by region and/or related products with a global view of prices and news every day.

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Petrochemicals Argus Media

ARGUS Benzene And Derivatives

Access leading benzene and derivatives contract and spot benchmarks, global industry news and analysis of key economic drivers on a weekly basis.

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Petrochemicals Argus Media

ARGUS Benzene Outlook

Get a 24-month rolling price forecast and future-facing analysis of global benzene supply and demand, trade flows and inventory levels each month.

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Petrochemicals Argus Media

ARGUS Benzene Analytics

Take advantage of comprehensive benzene and derivatives data and forecasts, including capacities, trade, and supply and demand balances, plus long-term analysis and regular access to expert analysts.

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Petrochemicals Argus Media

ARGUS Toluene and Xylenes Daily

See changes to price spreads by region and/or related products with a global view of prices and news every day.

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Petrochemicals Argus Media

ARGUS Toluene, Xylenes, and Isomers/PET

Access leading toluene, xylenes and isomers/PET contract and spot benchmarks, global industry news and analysis of key economic drivers on a weekly basis.

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Petrochemicals Argus Media

ARGUS Toluene and Xylenes Outlook

Get a 24-month rolling price forecast and future-facing analysis of global toluene and xylenes supply and demand, trade flows and inventory levels each month.

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Petrochemicals Argus Media

ARGUS Toluene and Xylenes Analytics

Take advantage of comprehensive toluene, xylenes and derivatives data and forecasts, including capacities, trade, and supply and demand balances, plus long-term analysis and regular access to expert analysts.

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ARGUS Global Pygas Study

The Argus Global Pygas Study Steam Cracking and the Impacts of Light Feedstocks on Supplies of Ethylene Co-product Pygas Through 2027 includes a forecast of new steam cracker capacity, global analysis of trends in light feeds and pygas/benzene production and more.

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ARGUS Aromatics Consulting Services

Improve your understanding of the aromatics markets, from benzene and styrene to toluene and xylenes, and devise strategies for success with tailor-made research performed by Argus’ in-house aromatics experts.


Key benefits

  • Obtain independent insights: The Argus Consulting Services team builds from the latest market data to provide unique insight.
  • Get local and global perspectives: We provide “boots on the ground” knowledge gathered through our extensive local and global network of more than 75 dedicated consultants with experience across multiple industry sectors.
  • Utilise our end-to-end viewpoints: Our consultants track feedstocks (such as gas, naphtha) and all key derivative products so that you have a completely integrated view of how your business fits into the marketplace.
  • Data you can trust: Our forecasts are based on our comprehensive database of historical and current information and our daily engagement in the market. We do not purchase data, so our short- to long-term forecasts are more solid and dependable and are essential for quantifying investment risk for you.
  • See scenario-based forecasts: We present you with scenario-based forecasts for supply, demand, and market prices so that investors can evaluate returns based on different potential future market directions. You also get to choose scenarios that you believe are most likely to occur.
  • Find the answers you are looking for: Argus consultants advise you on how to formulate your strategies whenever and wherever you need it.

Key customisable features

  • Market studies
  • Price analysis and forecasting
  • Supply, infrastructure and logistics strategy
  • Investment and transaction support
  • Policy and regulation
  • Training

Global markets covered

  • Benzene
  • Energy and feedstocks
  • Styrene
  • Cumene
  • Phenol
  • Cyclohexane
  • Nitrobenzene/aniline/MDI
  • Toluene
  • Paraxylene
  • Orthoxylene
  • Mixed xylenes
  • Purified terephthalic acid (PTA)
  • Polyethylene terephthalate (PET)
  • Monoethylene glycol (MEG)
  • Crude
  • Gasoline
  • Naphtha

Customers that benefit

  • Corporations
  • Government agencies/regulatory bodies
  • Professional services
  • Investors/private equity
  • Trading organisations/financial services

Our aromatics experts

SImon Palmer
Simon Palmer
Vice President, Global Aromatics
Monicca Egoy
Monicca Egoy
Editor, Europe Aromatics
Sam Carew
Sam Carew
Senior Market Reporter
Bohan-lo
Bohan Lo
Petrochemical Market Editor (PX, PTA, MTBE), Asia
Brian Leonal
Brian Leonal
Associate Editor
Toong Shien
Lee Toong Shien
Senior Market Reporter
Suzi Shin
Suzi Shin
Market Reporter
Jacky Wang
Jacky Wang
Senior Petrochemical Analyst
SImon Palmer

Simon Palmer

Vice President, Global Aromatics

Simon Palmer joined Argus as VP, Global Aromatics in summer 2021, and is based in Houston. He brings to Argus broad experiences from across the petrochemical industry. He has worked in both petrochemical and polymer production, market consulting, petrochemical trading, major project management, and strategy & business development. He spent his formative years in Europe working for ICI plc before moving to the USA. Since then, he has spent around twenty years in market consulting, specializing in aromatic hydrocarbons. Prior to joining Argus, he worked in Strategy and Business Development with Motiva Enterprises, a wholly-owned affili...
Simon Palmer joined Argus as VP, Global Aromatics in summer 2021, and is based in Houston. He brings to Argus broad experiences from across the petrochemical industry. He has worked in both petrochemical and polymer production, market consulting, petrochemical trading, major project management, and strategy & business development. He spent his formative years in Europe working for ICI plc before moving to the USA. Since then, he has spent around twenty years in market consulting, specializing in aromatic hydrocarbons. Prior to joining Argus, he worked in Strategy and Business Development with Motiva Enterprises, a wholly-owned affiliate of Saudi Aramco.
Monicca Egoy

Monicca Egoy

Editor, Europe Aromatics

Monicca Egoy is the editor in charge of the aromatics market in Europe, based in London. She mainly covers the benzene and styrene markets, as well as overseas coverage and publication of Argus’ daily and weekly aromatics reports. She joined Argus in early 2013 when it was forming the petrochemicals team and integrating DeWitt, which it acquired in 2012. Prior to joining Argus, Monicca was an editor at S&P Global Platts, covering polymers and olefins. Additionally, she has years of experience covering the energy and financial markets, having worked at AFX Financial News, Thomson Financial News, and ThomsonReuters in Europe and Asia....
Monicca Egoy is the editor in charge of the aromatics market in Europe, based in London. She mainly covers the benzene and styrene markets, as well as overseas coverage and publication of Argus’ daily and weekly aromatics reports. She joined Argus in early 2013 when it was forming the petrochemicals team and integrating DeWitt, which it acquired in 2012. Prior to joining Argus, Monicca was an editor at S&P Global Platts, covering polymers and olefins. Additionally, she has years of experience covering the energy and financial markets, having worked at AFX Financial News, Thomson Financial News, and ThomsonReuters in Europe and Asia. Monicca holds a master’s degree in Global Politics from Birkbeck College, University of London, and a bachelor’s degree in Accounting and Management from the Polytechnic University of the Philippines.
Sam Carew

Sam Carew

Senior Market Reporter

Sam Carew is a Senior Market Reporter, based in London. He is part of the aromatics team and covers the toluene, xylenes, and PET chain markets. Before joining Argus in 2014, Sam worked with the Nigerian government and the Nigerian Petroleum Products Pricing Regulatory Agency. He has also undertaken research for the Nigerian and Middle Eastern power industries. Sam graduated with a BSc in physics from Imperial College London.
Sam Carew is a Senior Market Reporter, based in London. He is part of the aromatics team and covers the toluene, xylenes, and PET chain markets. Before joining Argus in 2014, Sam worked with the Nigerian government and the Nigerian Petroleum Products Pricing Regulatory Agency. He has also undertaken research for the Nigerian and Middle Eastern power industries. Sam graduated with a BSc in physics from Imperial College London.
Bohan-lo

Bohan Lo

Petrochemical Market Editor (PX, PTA, MTBE), Asia

Bohan Lo is the Petrochemical Market Editor (PX, PTA, MTBE), Asia, based in Singapore. He is responsible for Argus’ coverage of the PX, PTA, and MTBE markets in Asia and the Middle East. He spent the previous five years covering the xylenes chain. Bohan started his career as an editor with ICIS. He then worked for Reuters focusing on forward swaps curves for crude, naphtha, fuel oil, and gas oil markets before joining Argus in 2013. Bohan is an affiliate member of the Association of Chartered Certified Accountants and is fluent in English and Mandarin.
Bohan Lo is the Petrochemical Market Editor (PX, PTA, MTBE), Asia, based in Singapore. He is responsible for Argus’ coverage of the PX, PTA, and MTBE markets in Asia and the Middle East. He spent the previous five years covering the xylenes chain. Bohan started his career as an editor with ICIS. He then worked for Reuters focusing on forward swaps curves for crude, naphtha, fuel oil, and gas oil markets before joining Argus in 2013. Bohan is an affiliate member of the Association of Chartered Certified Accountants and is fluent in English and Mandarin.
Brian Leonal

Brian Leonal

Associate Editor

Brian Leonal is responsible for the coverage of benzene and styrene in Asia Pacific. He has seven years of experience in the hydrocarbon industry. Most recently he was a corporate banker in DBS Bank covering oil and gas as well as petrochemical markets. He has been involved in a diversity of transactions, including asset-backed, project, trade, and M&A financing, as well as clean corporate loans. He started his career in Argus in 2015 as part of the petrochemical team, with exposures to olefins, aromatics, and polymers.
Brian Leonal is responsible for the coverage of benzene and styrene in Asia Pacific. He has seven years of experience in the hydrocarbon industry. Most recently he was a corporate banker in DBS Bank covering oil and gas as well as petrochemical markets. He has been involved in a diversity of transactions, including asset-backed, project, trade, and M&A financing, as well as clean corporate loans. He started his career in Argus in 2015 as part of the petrochemical team, with exposures to olefins, aromatics, and polymers.
Toong Shien

Lee Toong Shien

Senior Market Reporter

Toong Shien is a senior reporter based in Singapore who is responsible for ethylene, propylene and toluene markets in Asia. He joined Argus in 2018 where his focus back then was octane boosters such as toluene, solvent xylenes and MTBE, before taking more responsibilities for other market coverages including olefins. Prior to that, Toong Shien worked as a relationship manager in the banking and finance sector. He graduated from National University of Singapore as a Bachelor of Science majoring in statistics.
Toong Shien is a senior reporter based in Singapore who is responsible for ethylene, propylene and toluene markets in Asia. He joined Argus in 2018 where his focus back then was octane boosters such as toluene, solvent xylenes and MTBE, before taking more responsibilities for other market coverages including olefins. Prior to that, Toong Shien worked as a relationship manager in the banking and finance sector. He graduated from National University of Singapore as a Bachelor of Science majoring in statistics.
Suzi Shin

Suzi Shin

Market Reporter

Suzi Shin is a petrochemical market reporter, based in Singapore. She is responsible for covering paraxylene and isomer-grade mixed xylene in the Petrochemicals team since joining Argus Media in 2019. Before joining Argus, she was a PX broker for more than seven years, based in Singapore, leading a petrochemical team at international brokerage firms. Suzi covered physical transactions in the spot trading market, as well as paper swaps/futures contracts on SGX. She has a wide network across Asia and the Middle East, with a deep understanding of the PX chain.
Suzi Shin is a petrochemical market reporter, based in Singapore. She is responsible for covering paraxylene and isomer-grade mixed xylene in the Petrochemicals team since joining Argus Media in 2019. Before joining Argus, she was a PX broker for more than seven years, based in Singapore, leading a petrochemical team at international brokerage firms. Suzi covered physical transactions in the spot trading market, as well as paper swaps/futures contracts on SGX. She has a wide network across Asia and the Middle East, with a deep understanding of the PX chain.
Jacky Wang

Jacky Wang

Senior Petrochemical Analyst

Jacky Wang is a Senior Petrochemical Analyst, based in Shanghai. He is a member of the aromatics team and mainly covers the Asian polyester chain markets. He has extensive experience in PTA, PET production and trading. Before joining Argus, Jacky worked for international trading firms and petrochemical producers, leading petrochemical product sales and marketing. He has more than 10 years of experience working with the polyester chain and has a deep understanding of Chinese and Indian markets.
Jacky Wang is a Senior Petrochemical Analyst, based in Shanghai. He is a member of the aromatics team and mainly covers the Asian polyester chain markets. He has extensive experience in PTA, PET production and trading. Before joining Argus, Jacky worked for international trading firms and petrochemical producers, leading petrochemical product sales and marketing. He has more than 10 years of experience working with the polyester chain and has a deep understanding of Chinese and Indian markets.