Singapore: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Singapore

For the fourth year in a row, the Singaporean market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) recorded decline in sales value, which decreased by -16.5% to $X in 2021. Over the period under review, consumption continues to indicate a slight decline. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Singapore

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) rose rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2015 when the production volume increased by 10%. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Singapore

In 2021, the amount of acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Singapore stood at X tons, picking up by 6.6% against the year before. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 9.2%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. Overall, exports, however, showed a perceptible slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Singapore, accounting for a 27% share of total exports. Moreover, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to China exceeded the volume sent to the second major destination, India (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+12.1% per year) and Saudi Arabia (-1.3% per year).

In value terms, China ($X) remains the key foreign market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exports from Singapore, comprising 30% of total exports. The second position in the ranking was held by India ($X), with a 7.5% share of total exports. It was followed by Indonesia, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+6.7% per year) and Indonesia (-6.7% per year).

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, picking up by 8% against the previous year. Over the period under review, the export price, however, showed a slight setback. The pace of growth was the most pronounced in 2018 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Syrian Arab Republic ($X per ton), while the average price for exports to India ($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 the United States (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Singapore

In 2021, after three years of decline, there was significant growth in overseas purchases of acrylic polymers, in primary forms (excluding polymethyl methacrylate), when their volume increased by 16% to X tons. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 37% against the previous year. Over the period under review, imports of hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded remarkably to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 32% against the previous year. Over the period under review, imports of attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) supplier to Singapore, accounting for a 33% share of total imports. Moreover, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia amounted to +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.2% per year) and Indonesia (-0.0% per year).

In value terms, the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to Singapore were Malaysia ($X), the United States ($X) and China ($X), with a combined 46% share of total imports.

Malaysia, with a CAGR of +16.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, shrinking by -7% against the previous year. Overall, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 6.6%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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 the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform