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Singapore - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSingapore: Formaldehyde Market 2024
Formaldehyde Market Size in Singapore
In 2023, the Singaporean formaldehyde market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.
Formaldehyde Production in Singapore
In value terms, formaldehyde production totaled $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.
Formaldehyde Exports
Exports from Singapore
For the third consecutive year, Singapore recorded decline in overseas shipments of formaldehyde, which decreased by X% to X tons in 2023. Overall, exports faced a deep reduction. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.
In value terms, formaldehyde exports dropped significantly to $X in 2023. In general, exports saw a deep contraction. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Malaysia (X tons) was the main destination for formaldehyde exports from Singapore, accounting for a X% share of total exports. Moreover, formaldehyde exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. Papua New Guinea (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Papua New Guinea (X% per year).
In value terms, Malaysia ($X) remains the key foreign market for formaldehyde exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Papua New Guinea, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Papua New Guinea (X% per year).
Export Prices by Country
In 2023, the average formaldehyde export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price showed a resilient increase. The pace of growth was the most pronounced in 2022 an increase of X%. The export price peaked in 2023 and is likely to see steady growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced a decline.
Formaldehyde Imports
Imports into Singapore
In 2023, the amount of formaldehyde imported into Singapore soared to X tons, picking up by X% against the previous year's figure. Over the period under review, imports, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
In value terms, formaldehyde imports soared to $X in 2023. Overall, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, Malaysia (X tons) constituted the largest supplier of formaldehyde to Singapore, with a X% share of total imports. Moreover, formaldehyde imports from Malaysia exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold.
From 2012 to 2023, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).
In value terms, the United States ($X) constituted the largest supplier of formaldehyde to Singapore, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports.
From 2012 to 2023, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Taiwan (Chinese) (X% per year).
Import Prices by Country
The average formaldehyde import price stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price showed a mild contraction. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the formaldehyde market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20146111 - Methanal (formaldehyde)
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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