Singapore: Market for Unsaturated Polyesters In Primary Forms 2024

Market Size for Unsaturated Polyesters In Primary Forms in Singapore

After two years of growth, the Singaporean market for unsaturated polyesters in primary forms decreased by X% to $X in 2023. Over the period under review, consumption showed a abrupt decrease. Unsaturated polyesters in primary forms consumption peaked at $X in 2022, and then fell notably in the following year.

Production of Unsaturated Polyesters In Primary Forms in Singapore

In value terms, unsaturated polyesters in primary forms production expanded slightly to $X in 2023 estimated in export price. Over the period under review, production enjoyed a tangible increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Unsaturated polyesters in primary forms production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Unsaturated Polyesters In Primary Forms

Exports from Singapore

In 2023, after three years of decline, there was significant growth in shipments abroad of unsaturated polyesters in primary forms, when their volume increased by X% to X tons. Over the period under review, exports showed a pronounced expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The exports peaked in 2023 and are likely to see steady growth in the near future.

In value terms, unsaturated polyesters in primary forms exports reduced dramatically to $X in 2023. In general, exports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at $X in 2022, and then fell markedly in the following year.

Exports by Country

Vietnam (X tons) was the main destination for unsaturated polyesters in primary forms exports from Singapore, with a X% share of total exports. Moreover, unsaturated polyesters in primary forms exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The third position in this ranking was held by the Philippines (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the Philippines (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for unsaturated polyesters in primary forms exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).

Export Prices by Country

The average export price for unsaturated polyesters in primary forms stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Unsaturated Polyesters In Primary Forms

Imports into Singapore

For the third year in a row, Singapore recorded decline in overseas purchases of unsaturated polyesters in primary forms, which decreased by X% to X tons in 2023. Over the period under review, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, unsaturated polyesters in primary forms imports dropped significantly to $X in 2023. In general, imports continue to indicate a deep slump. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Malaysia (X tons) constituted the largest supplier of unsaturated polyesters in primary forms to Singapore, with a X% share of total imports. Moreover, unsaturated polyesters in primary forms imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Germany (X% per year).

In value terms, Germany ($X), Malaysia ($X) and Thailand ($X) constituted the largest unsaturated polyesters in primary forms suppliers to Singapore, with a combined X% share of total imports. The UK, China, India, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for unsaturated polyesters in primary forms stood at $X per ton in 2023, increasing by X% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, unsaturated polyesters in primary forms import price increased by X% against 2019 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2023 and is expected to retain growth in the near future.

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 UK ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform