Singapore: Acetone Market 2025

Acetone Market Size in Singapore

The Singaporean acetone market skyrocketed to $X in 2021, picking up by 28% against the previous year. In general, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.0% against 2019 indices. Acetone consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Acetone Production in Singapore

In value terms, acetone production soared to $X in 2021 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 39% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Acetone Exports

Exports from Singapore

In 2021, after three years of decline, there was significant growth in shipments abroad of acetone, when their volume increased by 14% to X tons. The total export volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 33% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, acetone exports skyrocketed to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 49%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Germany (X tons) and Indonesia (X tons) were the main destinations of acetone exports from Singapore, together accounting for 59% of total exports. Japan, Malaysia, China and India lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +59.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for acetone exported from Singapore were Thailand ($X), Germany ($X) and Indonesia ($X), with a combined 59% share of total exports. Malaysia, Japan, India and China lagged somewhat behind, together accounting for a further 25%.

Japan, with a CAGR of +68.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average acetone export price stood at $X per ton in 2021, surging by 29% against the previous year. Over the period under review, the export price, however, recorded a slight descent. The pace of growth was the most pronounced in 2020 an increase of 47% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Acetone Imports

Imports into Singapore

In 2021, imports of acetone into Singapore contracted notably to X tons, shrinking by -18.1% against 2020. Over the period under review, imports saw a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of 27% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, acetone imports surged to $X in 2021. In general, imports continue to indicate a noticeable setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) constituted the largest supplier of acetone to Singapore, with a 83% share of total imports. Moreover, acetone imports from South Africa exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), eightfold. The third position in this ranking was held by Brazil (X tons), with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa stood at -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.0% per year) and Brazil (0.0% per year).

In value terms, South Africa ($X) constituted the largest supplier of acetone to Singapore, comprising 70% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Brazil, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value from South Africa totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.4% per year) and Brazil (0.0% per year).

Import Prices by Country

The average acetone import price stood at $X per ton in 2021, rising by 51% against the previous year. In general, the import price showed a slight expansion. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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