Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore (CIF) - 2023
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore (CIF) - 2023
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $1,048 per ton in September 2022, reducing by -4.5% against the previous month. In general, the import price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in July 2022 an increase of 0.4% against the previous month. As a result, import price reached the peak level of $1,520 per ton. From August 2022 to September 2022, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2022, the country with the highest price was Germany ($1,572 per ton), while the price for China stood at $1,419 per ton.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Finland (0.0%), while the prices for the other major suppliers experienced a decline.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $4,556 per ton in 2022, shrinking by -10.6% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 412%. The export price peaked at $5,096 per ton in 2021, and then fell in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($24,667 per ton), while the average price for exports to Malaysia ($1,610 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore
In 2022, after three years of growth, there was significant decline in supplies from abroad of acids; saturated acyclic monocarboxylic acids; formic acids, when their volume decreased by -17.8% to 2.4K tons. In general, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. As a result, imports attained the peak of 2.9K tons, and then reduced remarkably in the following year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids shrank modestly to $5.7M in 2022. Over the period under review, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. As a result, imports reached the peak of $5.9M, and then shrank slightly in the following year.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 983 | 859 | 1,772 | 2,021 | 27.2% |
| Germany | 441 | 643 | 938 | 727 | 18.1% |
| Finland | 184 | 157 | 162 | 31.3 | -44.6% |
| Others | 1,709 | 1,724 | 3,042 | 2,891 | 19.2% |
| Total | 3,318 | 3,383 | 5,914 | 5,670 | 19.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Singapore in 2022:
- China (1813.0 tons)
- Germany (571.3 tons)
- Finland (23.6 tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore
After three years of growth, overseas shipments of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -51.4% to 32 tons in 2022. Over the period under review, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 93%. As a result, the exports reached the peak of 66 tons, and then dropped rapidly in the following year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids declined markedly to $146K in 2022. In general, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 131%. As a result, the exports attained the peak of $336K, and then reduced remarkably in the following year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 4.8 | 1.1 | 8.4 | 20.4 | 62.0% |
| Malaysia | 1.0 | 0.5 | 42.0 | 14.4 | 143.3% |
| Bangladesh | 29.9 | 39.4 | 31.0 | 10.4 | -29.7% |
| Thailand | 1.4 | 4.1 | 2.9 | 9.0 | 85.9% |
| Taiwan (Chinese) | N/A | 8.7 | 7.2 | 5.6 | -19.8% |
| Australia | 2.4 | 1.5 | 5.4 | 3.1 | 8.9% |
| Mauritius | 4.8 | 0.9 | 23.5 | 2.2 | -22.9% |
| South Korea | N/A | 0.2 | 6.3 | 0.5 | 58.1% |
| Others | 49.8 | 89.1 | 209 | 80.4 | 17.3% |
| Total | 94.0 | 145 | 336 | 146 | 15.8% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Singapore in 2022:
- Philippines (12.5 tons)
- Malaysia (8.9 tons)
- Bangladesh (5.7 tons)
- Thailand (1.3 tons)
- Taiwan (Chinese) (1.0 tons)
- Mauritius (0.9 tons)
- Australia (0.7 tons)
- South Korea (0.2 tons)
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