Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore (CIF) - 2023
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore (CIF) - 2023
The average import price for acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses stood at $1,797 per ton in September 2022, shrinking by -86.1% against the previous month. In general, the import price, however, saw notable growth. The most prominent rate of growth was recorded in August 2022 an increase of 509% against the previous month. As a result, import price reached the peak level of $12,920 per ton, and then shrank sharply in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was China ($4,006 per ton), while the price for the United States ($1,376 per ton) was amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%), while the prices for the other major suppliers experienced a decline.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses stood at $1,722 per ton in 2022, dropping by -42.3% against the previous year. Overall, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 192%. As a result, the export price attained the peak level of $15,457 per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($56,484 per ton), while the average price for exports to the UK ($786 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 (+14.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore
In 2022, after three years of growth, there was significant decline in purchases abroad of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses, when their volume decreased by -8% to 11K tons. The total import volume increased at an average annual rate of +8.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19%. As a result, imports reached the peak of 12K tons, and then shrank in the following year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses totaled $15M in 2022. The total import value increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 40% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.4 | 3.0 | 4.0 | 5.5 | -4.9% |
| South Korea | N/A | 0.1 | 1.8 | 3.3 | 474.5% |
| China | 3.2 | 2.0 | 5.0 | 2.3 | -10.4% |
| Sweden | 0.4 | 2.7 | 1.2 | 1.3 | 48.1% |
| India | 1.4 | 0.8 | 0.7 | 0.5 | -29.1% |
| Germany | N/A | 0.8 | 0.1 | N/A | -87.5% |
| Others | 1.9 | 1.2 | 2.1 | 2.3 | 6.6% |
| Total | 13.4 | 10.7 | 14.9 | 15.3 | 4.5% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters to Singapore in 2022:
- United States (5.5K tons)
- South Korea (2.4K tons)
- Sweden (1.6K tons)
- China (1.0K tons)
- India (0.2K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore
For the fourth year in a row, Singapore recorded growth in overseas shipments of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses, which increased by 213% to 833 tons in 2022. Overall, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses surged to $2.2M in 2022. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 54.2 | 245 | 224 | 977 | 162.2% |
| China | 13.4 | 5.3 | 124 | 346 | 195.6% |
| Indonesia | 226 | 17.6 | 253 | 298 | 9.7% |
| Japan | 79.8 | 96.2 | 96.4 | 153 | 24.2% |
| Malaysia | 74.9 | 123 | 115 | 146 | 24.9% |
| United Kingdom | 9.1 | N/A | 12.1 | 34.0 | 55.2% |
| Others | 223 | 97.8 | 273 | 254 | 4.4% |
| Total | 681 | 585 | 1,097 | 2,208 | 48.0% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters from Singapore in 2022:
- India (562.8 tons)
- China (138.0 tons)
- United Kingdom (43.2 tons)
- Malaysia (40.1 tons)
- Indonesia (26.7 tons)
- Japan (8.5 tons)
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