Singapore: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in Singapore

The Singaporean benzoyl peroxide and chloride market amounted to $X in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports from Singapore

In 2022, after four years of growth, there was significant decline in shipments abroad of benzoyl peroxide and benzoyl chloride, when their volume decreased by -54.5% to X tons. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 897% against the previous year. The exports peaked at X tons in 2021, and then contracted rapidly in the following year.

In value terms, benzoyl peroxide and chloride exports shrank dramatically to $X in 2022. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 163%. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced rapidly in the following year.

Exports by Country

Malaysia (X tons) was the main destination for benzoyl peroxide and chloride exports from Singapore, with a 69% share of total exports. Moreover, benzoyl peroxide and chloride exports to Malaysia exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), sixfold. Australia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+63.5% per year) and Australia (+94.6% per year).

In value terms, Malaysia ($X), Australia ($X) and Thailand ($X) constituted the largest markets for benzoyl peroxide and chloride exported from Singapore worldwide, with a combined 84% share of total exports.

Australia, with a CAGR of +45.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average benzoyl peroxide and chloride export price stood at $X per ton in 2022, growing by 50% against the previous year. Overall, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of 78% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Malaysia ($X 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 the Philippines (+57.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports into Singapore

In 2022, purchases abroad of benzoyl peroxide and benzoyl chloride decreased by -34.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 97%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, benzoyl peroxide and chloride imports declined to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 51%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Mexico (X tons) and the United States (X tons) were the main suppliers of benzoyl peroxide and chloride imports to Singapore, with a combined 62% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +67.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest benzoyl peroxide and chloride suppliers to Singapore were Mexico ($X), the United States ($X) and Germany ($X), together comprising 79% of total imports.

Mexico, with a CAGR of +141.9%, saw 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

In 2022, the average benzoyl peroxide and chloride import price amounted to $X per ton, surging by 37% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+44.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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